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REGISTERED NUMBER: 12941309 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Inveraray Youth Hostel Ltd

Inveraray Youth Hostel Ltd (Registered number: 12941309)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Inveraray Youth Hostel Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J P R Coatesworth





REGISTERED OFFICE: Faraway
Witherslack
Grange-Over-Sands
United Kingdom
LA11 6RQ





REGISTERED NUMBER: 12941309 (England and Wales)





ACCOUNTANTS: Mackay & Co CA
120 George Street
Oban
Argyll
PA34 5NT

Inveraray Youth Hostel Ltd (Registered number: 12941309)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,637 32,030
Tangible assets 5 124,466 124,153
154,103 156,183

CURRENT ASSETS
Cash at bank 10,518 13,251

CREDITORS
Amounts falling due within one year 6 17,796 21,874
NET CURRENT LIABILITIES (7,278 ) (8,623 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,825

147,560

CREDITORS
Amounts falling due after more than
one year

7

124,031

139,633
NET ASSETS 22,794 7,927

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 22,744 7,877
22,794 7,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Inveraray Youth Hostel Ltd (Registered number: 12941309)

Balance Sheet - continued
31 December 2023


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.

The financial statements were approved by the director and authorised for issue on 16 August 2024 and were signed by:





J P R Coatesworth - Director


Inveraray Youth Hostel Ltd (Registered number: 12941309)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Inveraray Youth Hostel Ltd is a private company, limited by shares , registered in England and Wales. 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of fifteen 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.

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 - 15% on reducing balance

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.


Inveraray Youth Hostel Ltd (Registered number: 12941309)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 36,816
AMORTISATION
At 1 January 2023 4,786
Charge for year 2,393
At 31 December 2023 7,179
NET BOOK VALUE
At 31 December 2023 29,637
At 31 December 2022 32,030

Inveraray Youth Hostel Ltd (Registered number: 12941309)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 119,431 6,537 125,968
Additions - 1,201 1,201
At 31 December 2023 119,431 7,738 127,169
DEPRECIATION
At 1 January 2023 - 1,815 1,815
Charge for year - 888 888
At 31 December 2023 - 2,703 2,703
NET BOOK VALUE
At 31 December 2023 119,431 5,035 124,466
At 31 December 2022 119,431 4,722 124,153

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,265 9,559
Taxation and social security 5,802 1,209
Other creditors 10,729 11,106
17,796 21,874

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 124,031 139,633

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Other loans 129,851 145,343

The company received loans from family members of the Director. The loans are secured by a standard security over the property of Inveraray Youth Hostel and are on normal commercial terms.