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REGISTERED NUMBER: SC199811 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Scarista House Limited

Scarista House Limited (Registered number: SC199811)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Scarista House Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: T Martin
P Martin
N King





SECRETARY: P Martin





REGISTERED OFFICE: Scarista House
Scarista
Isle of Harris
Western Isles
HS3 3HX





REGISTERED NUMBER: SC199811 (Scotland)





ACCOUNTANTS: Campbell Stewart MacLennan & Co
Chartered Accountants
Unit 3, Broom Place
Portree
Highland
IV51 9HL

Scarista House Limited (Registered number: SC199811)

Balance Sheet
30 November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 500 750
Tangible assets 5 684,987 684,079
685,487 684,829

CURRENT ASSETS
Stocks 10,250 2,800
Debtors 6 63,011 33,189
Prepayments and accrued income 961 1,386
Cash at bank and in hand 4,226 16,170
78,448 53,545
CREDITORS
Amounts falling due within one year 7 94,618 95,173
NET CURRENT LIABILITIES (16,170 ) (41,628 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

669,317

643,201

CREDITORS
Amounts falling due after more than one
year

8

(223,350

)

(239,967

)

PROVISIONS FOR LIABILITIES (4,991 ) (4,770 )

ACCRUALS AND DEFERRED INCOME (4,648 ) (5,612 )
NET ASSETS 436,328 392,852

CAPITAL AND RESERVES
Called up share capital 50,100 50,100
Retained earnings 386,228 342,752
SHAREHOLDERS' FUNDS 436,328 392,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

Scarista House Limited (Registered number: SC199811)

Balance Sheet - continued
30 November 2023



The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:





P Martin - Director


Scarista House Limited (Registered number: SC199811)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Scarista House Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated net of VAT and is derived from accommodation, catering and bar sales. It is recognised when goods or services are provided to customers.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 1999, has been amortised evenly over 5 years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Heritable property is not depreciated.

Property is maintained, as a matter of policy, by a programme of repair and refurbishment such that its residual value is at least equal to its book value. Having regard to this, it is the opinion of the directors that depreciation on such property, as required by the Companies Act 2006 and accounting standards, would not be material.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Scarista House Limited (Registered number: SC199811)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Deferred grants
Grants towards capital expenditure are deferred upon receipt and released over the life of the asset to which they relate. Where grants are received towards property improvements, which are subject to a repair and refurbishment program that renders depreciation immaterial, grants are released over a period of 15 years or the clawback period if longer.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 30,000 2,500 32,500
AMORTISATION
At 1 December 2022 30,000 1,750 31,750
Charge for year - 250 250
At 30 November 2023 30,000 2,000 32,000
NET BOOK VALUE
At 30 November 2023 - 500 500
At 30 November 2022 - 750 750

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 659,989 148,755 808,744
Additions - 5,383 5,383
Disposals - (1,786 ) (1,786 )
At 30 November 2023 659,989 152,352 812,341
DEPRECIATION
At 1 December 2022 - 124,665 124,665
Charge for year - 4,474 4,474
Eliminated on disposal - (1,785 ) (1,785 )
At 30 November 2023 - 127,354 127,354
NET BOOK VALUE
At 30 November 2023 659,989 24,998 684,987
At 30 November 2022 659,989 24,090 684,079

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Other debtors 63,011 33,189

Scarista House Limited (Registered number: SC199811)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans and overdrafts 18,145 24,090
Taxation and social security 31,157 25,744
Other creditors 45,316 45,339
94,618 95,173

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30/11/23 30/11/22
£    £   
Bank loans 223,350 239,967

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 148,242 150,518

9. SECURED DEBTS

The following secured debts are included within creditors:

30/11/23 30/11/22
£    £   
Bank loans 241,495 264,057

The bank loans and overdraft are secured by a first Standard Security over Scarista House, Isle of Harris, a Guarantee for £15,000 granted by Directors Timothy Martin and Patricia Martin, a Guarantee for £40,000 granted by Director Neil King, a Bond and Floating Charge granted by Scarista House Limited and a Charge over Life Policy granted by Directors Timothy Martin and Patricia Martin.
The Bounce Back Loan of £50,000 is guaranteed by the UK Government under the Bounce Back Loan Scheme.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30/11/23 30/11/22
£    £   
T Martin and P Martin
Balance outstanding at start of year 19,871 7,299
Amounts advanced 30,222 25,680
Amounts repaid (7,538 ) (13,108 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,555 19,871

11. CONTROLLING PARTY

The company is controlled by its board of directors.

Scarista House Limited (Registered number: SC199811)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

12. GOING CONCERN

The company had net current liabilities of £16,170 at 30 November 2023 (2022 - £41,628) of which £18,145 (2022 - £24,090) comprised bank loan repayments falling due within one year, and £45,000 was payable to director N King (2022 - £45,000).

The company is reliant on the support of its bank and the director to continue trading for the foreseeable future. The director does not intend to withdraw their financial support in the foreseeable future and the board also do not expect the bank to withdraw current facilities.

For these reasons the directors consider it appropriate to prepare the accounts on a going concern basis.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Scarista House Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scarista House Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Scarista House Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scarista House Limited and state those matters that we have agreed to state to the Board of Directors of Scarista House Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Scarista House Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Scarista House Limited. You consider that Scarista House Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Scarista House Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Campbell Stewart MacLennan & Co
Chartered Accountants
Unit 3, Broom Place
Portree
Highland
IV51 9HL


30 August 2024