Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2022 1 June 2021 false 1 June 2022 31 May 2023 31 May 2023 SC236870 Mr David Cowan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC236870 2022-05-31 SC236870 2023-05-31 SC236870 2022-06-01 2023-05-31 SC236870 frs-core:CurrentFinancialInstruments 2023-05-31 SC236870 frs-core:Non-currentFinancialInstruments 2023-05-31 SC236870 frs-core:FurnitureFittings 2023-05-31 SC236870 frs-core:FurnitureFittings 2022-06-01 2023-05-31 SC236870 frs-core:FurnitureFittings 2022-05-31 SC236870 frs-core:NetGoodwill 2023-05-31 SC236870 frs-core:NetGoodwill 2022-06-01 2023-05-31 SC236870 frs-core:NetGoodwill 2022-05-31 SC236870 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 SC236870 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 SC236870 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2022-05-31 SC236870 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 SC236870 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC236870 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-05-31 SC236870 frs-core:PlantMachinery 2023-05-31 SC236870 frs-core:PlantMachinery 2022-06-01 2023-05-31 SC236870 frs-core:PlantMachinery 2022-05-31 SC236870 frs-core:WithinOneYear 2023-05-31 SC236870 frs-core:ShareCapital 2023-05-31 SC236870 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31 SC236870 frs-bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC236870 frs-bus:FilletedAccounts 2022-06-01 2023-05-31 SC236870 frs-bus:SmallEntities 2022-06-01 2023-05-31 SC236870 frs-bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 SC236870 frs-bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 SC236870 frs-bus:Director1 2022-06-01 2023-05-31 SC236870 frs-bus:Director1 2022-05-31 SC236870 frs-bus:Director1 2023-05-31 SC236870 frs-countries:Scotland 2022-06-01 2023-05-31 SC236870 2021-05-31 SC236870 2022-05-31 SC236870 2021-06-01 2022-05-31 SC236870 frs-core:CurrentFinancialInstruments 2022-05-31 SC236870 frs-core:Non-currentFinancialInstruments 2022-05-31 SC236870 frs-core:WithinOneYear 2022-05-31 SC236870 frs-core:ShareCapital 2022-05-31 SC236870 frs-core:RetainedEarningsAccumulatedLosses 2022-05-31
Registered number: SC236870
Shanter Inns Limited
Financial Statements
For The Year Ended 31 May 2023
M&PW Accountancy Services Ltd
31 Burns Statue Square
Ayr
KA7 1SU
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC236870
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 476,000 476,000
Tangible Assets 5 443,682 443,682
919,682 919,682
CURRENT ASSETS
Stocks 6 9,250 9,250
Debtors 7 585,518 585,518
Cash at bank and in hand 125,576 125,576
720,344 720,344
Creditors: Amounts Falling Due Within One Year 8 (348,408 ) (348,408 )
NET CURRENT ASSETS (LIABILITIES) 371,936 371,936
TOTAL ASSETS LESS CURRENT LIABILITIES 1,291,618 1,291,618
Creditors: Amounts Falling Due After More Than One Year 9 (931,508 ) (931,508 )
NET ASSETS 360,110 360,110
CAPITAL AND RESERVES
Called up share capital 11 400,000 400,000
Profit and Loss Account (39,890 ) (39,890 )
SHAREHOLDERS' FUNDS 360,110 360,110
Page 1
Page 2
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Cowan
Director
30th August 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shanter Inns Limited is a private company, limited by shares, incorporated in Scotland, registered number SC236870 . The registered office is 230 High Street, Ayr, KA7 1RQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Leasehold 5% straight line
Plant & Machinery 25% straight line
Fixtures & Fittings 25% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: )
5 -
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2022 560,000
As at 31 May 2023 560,000
Amortisation
As at 1 June 2022 84,000
As at 31 May 2023 84,000
Net Book Value
As at 31 May 2023 476,000
As at 1 June 2022 476,000
5. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2022 693,922 150,000 19,842 145,509 1,009,273
As at 31 May 2023 693,922 150,000 19,842 145,509 1,009,273
Depreciation
As at 1 June 2022 261,049 150,000 16,402 138,140 565,591
As at 31 May 2023 261,049 150,000 16,402 138,140 565,591
Net Book Value
As at 31 May 2023 432,873 - 3,440 7,369 443,682
As at 1 June 2022 432,873 - 3,440 7,369 443,682
6. Stocks
2023 2022
£ £
Stock 9,250 9,250
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 16,967 16,967
Other debtors 568,551 568,551
585,518 585,518
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 180 180
Trade creditors 53,268 53,268
Bank loans and overdrafts 46,000 46,000
Other loans 67,780 67,780
Other creditors 48,619 48,619
Taxation and social security 132,561 132,561
348,408 348,408
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 499,668 499,668
Other loans 431,840 431,840
931,508 931,508
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 180 180
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 400,000 400,000
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2022 Amounts advanced Amounts repaid Amounts written off As at 31 May 2023
£ £ £ £ £
Mr David Cowan 81,089 - - - 81,089
The above loan is unsecured, interest free and repayable on demand.
Page 5