Silverfin false false 30/11/2023 01/12/2022 30/11/2023 Richard Robert Nicoll 09/08/2021 29 August 2024 The principal activity of the company continued to be that of the investment in hotel partnerships. The company also started to trade as a hotel with a restaurant and bar during the year. SC296138 2023-11-30 SC296138 bus:Director1 2023-11-30 SC296138 2022-11-30 SC296138 core:CurrentFinancialInstruments 2023-11-30 SC296138 core:CurrentFinancialInstruments 2022-11-30 SC296138 core:Non-currentFinancialInstruments 2023-11-30 SC296138 core:Non-currentFinancialInstruments 2022-11-30 SC296138 core:ShareCapital 2023-11-30 SC296138 core:ShareCapital 2022-11-30 SC296138 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC296138 core:RetainedEarningsAccumulatedLosses 2022-11-30 SC296138 core:LandBuildings 2022-11-30 SC296138 core:LeaseholdImprovements 2022-11-30 SC296138 core:PlantMachinery 2022-11-30 SC296138 core:LandBuildings 2023-11-30 SC296138 core:LeaseholdImprovements 2023-11-30 SC296138 core:PlantMachinery 2023-11-30 SC296138 core:CostValuation 2022-11-30 SC296138 core:AdditionsToInvestments 2023-11-30 SC296138 core:DisposalsRepaymentsInvestments 2023-11-30 SC296138 core:CostValuation 2023-11-30 SC296138 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-11-30 SC296138 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-11-30 SC296138 2021-11-30 SC296138 bus:OrdinaryShareClass1 2023-11-30 SC296138 2022-12-01 2023-11-30 SC296138 bus:FilletedAccounts 2022-12-01 2023-11-30 SC296138 bus:SmallEntities 2022-12-01 2023-11-30 SC296138 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 SC296138 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 SC296138 bus:Director1 2022-12-01 2023-11-30 SC296138 core:LeaseholdImprovements core:TopRangeValue 2022-12-01 2023-11-30 SC296138 core:PlantMachinery 2022-12-01 2023-11-30 SC296138 2021-12-01 2022-11-30 SC296138 core:LandBuildings 2022-12-01 2023-11-30 SC296138 core:LeaseholdImprovements 2022-12-01 2023-11-30 SC296138 core:CurrentFinancialInstruments 2022-12-01 2023-11-30 SC296138 core:Non-currentFinancialInstruments 2022-12-01 2023-11-30 SC296138 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 SC296138 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC296138 (Scotland)

G H N INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

G H N INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

G H N INVESTMENTS LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023
G H N INVESTMENTS LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 3,068,251 0
Investments 5 2,346,915 3,128,421
5,415,166 3,128,421
Current assets
Stocks 6 41,530 0
Debtors 7 2,401,227 289,807
Cash at bank and in hand 191,115 325
2,633,872 290,132
Creditors: amounts falling due within one year 8 ( 3,905,655) ( 1,193,446)
Net current liabilities (1,271,783) (903,314)
Total assets less current liabilities 4,143,383 2,225,107
Creditors: amounts falling due after more than one year 9 ( 3,153,380) ( 1,263,265)
Provision for liabilities 10, 11 ( 35,682) 0
Net assets 954,321 961,842
Capital and reserves
Called-up share capital 12 100 100
Profit and loss account 954,221 961,742
Total shareholder's funds 954,321 961,842

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of G H N Investments Limited (registered number: SC296138) were approved and authorised for issue by the Director on 29 August 2024. They were signed on its behalf by:

Richard Robert Nicoll
Director
G H N INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
G H N INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

G H N Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Brodies House, 31 - 33 Union Grove, Aberdeen, AB10 6SD, United Kingdom.

The financial statements have been prepared under the historical cost convention in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The company has net current liabilities of £1,271,783. The directors consider it appropriate to prepare the accounts on a going concern basis. In coming to this conclusion they confirm that they will not seek repayment of their loan account and will support the company for at least twelve months from the approval of these financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for hotel goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Leasehold improvements 50 years straight line
Plant and machinery 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss ( if any).

Fixed asset investments

Interests in associates are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 69 1

4. Tangible assets

Land and buildings Leasehold improve-
ments
Plant and machinery Total
£ £ £ £
Cost
At 01 December 2022 0 0 0 0
Additions 2,768,997 152,242 151,291 3,072,530
At 30 November 2023 2,768,997 152,242 151,291 3,072,530
Accumulated depreciation
At 01 December 2022 0 0 0 0
Charge for the financial year 0 507 3,772 4,279
At 30 November 2023 0 507 3,772 4,279
Net book value
At 30 November 2023 2,768,997 151,735 147,519 3,068,251
At 30 November 2022 0 0 0 0

5. Fixed asset investments

Investments in associates Total
£ £
Cost or valuation before impairment
At 01 December 2022 3,128,421 3,128,421
Additions 360,994 360,994
Disposals ( 1,142,500) ( 1,142,500)
At 30 November 2023 2,346,915 2,346,915
Carrying value at 30 November 2023 2,346,915 2,346,915
Carrying value at 30 November 2022 3,128,421 3,128,421

6. Stocks

2023 2022
£ £
Stocks 41,530 0

7. Debtors

2023 2022
£ £
Trade debtors 0 289,807
Amounts owed by related parties 2,397,458 0
Other debtors 3,769 0
2,401,227 289,807

8. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 92,887 49,384
Trade creditors 112,503 0
Taxation and social security 158,070 80,190
Other creditors 3,542,195 1,063,872
3,905,655 1,193,446

The bank loans are secured by a standard security and a floating charge over all the property owned by the company.

9. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 3,153,380 1,263,265

The bank loans are secured by a standard security and a floating charge over all the property owned by the company.

10. Provision for liabilities

2023 2022
£ £
Deferred tax 35,682 0

11. Deferred tax

2023 2022
£ £
At the beginning of financial year 0 0
Charged to the Profit and Loss Account ( 35,682) 0
At the end of financial year ( 35,682) 0

12. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100