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REGISTERED NUMBER: SC688103 (Scotland)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Fife Lodge Hotel Ltd

Fife Lodge Hotel Ltd (Registered number: SC688103)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Fife Lodge Hotel Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: H W McLeay
Mrs S L Davis
J S McLeay
J W McLeay





REGISTERED OFFICE: The Brighter Horizons Centre
Institution Street
MACDUFF
AB44 1UT





BUSINESS ADDRESS: Sandyhill Road
BANFF
Aberdeenshire
AB45 1BE





REGISTERED NUMBER: SC688103 (Scotland)





ACCOUNTANTS: Atholl Scott
Victoria House
13 Victoria Street
ABERDEEN
AB10 1XB

Fife Lodge Hotel Ltd (Registered number: SC688103)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 676,238 649,103

CURRENT ASSETS
Stocks 20,561 18,457
Debtors 5 15,464 13,890
Cash at bank and in hand 86,993 66,579
123,018 98,926
CREDITORS
Amounts falling due within one
year

6

(1,108,139

)

(1,008,231

)
NET CURRENT LIABILITIES (985,121 ) (909,305 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(308,883

)

(260,202

)

PROVISIONS FOR LIABILITIES (40,278 ) -
NET LIABILITIES (349,161 ) (260,202 )

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings (349,281 ) (260,322 )
(349,161 ) (260,202 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Fife Lodge Hotel Ltd (Registered number: SC688103)

Balance Sheet - continued
30 September 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 Board of Directors and authorised for issue on 26 August 2024 and were signed on its behalf by:




H W McLeay - Director Mrs S L Davis - Director




J S McLeay - Director J W McLeay - Director


Fife Lodge Hotel Ltd (Registered number: SC688103)

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

1. STATUTORY INFORMATION

Fife Lodge Hotel Ltd 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 represents amounts receivable for goods sold and services rendered during the year, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

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.

Fife Lodge Hotel Ltd (Registered number: SC688103)

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

2. ACCOUNTING POLICIES - continued

Going concern
Although the going concern basis has been adopted in these accounts, its continued appropriateness is dependent upon the continued support of the parent company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 35 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 October 2022 484,010 93,421 55,024
Additions - 15,837 994
At 30 September 2023 484,010 109,258 56,018
DEPRECIATION
At 1 October 2022 19,360 11,787 14,412
Charge for year 9,680 10,927 6,241
At 30 September 2023 29,040 22,714 20,653
NET BOOK VALUE
At 30 September 2023 454,970 86,544 35,365
At 30 September 2022 464,650 81,634 40,612

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022 73,744 - 1,217 707,416
Additions 21,011 38,620 - 76,462
At 30 September 2023 94,755 38,620 1,217 783,878
DEPRECIATION
At 1 October 2022 11,950 - 804 58,313
Charge for year 12,422 9,655 402 49,327
At 30 September 2023 24,372 9,655 1,206 107,640
NET BOOK VALUE
At 30 September 2023 70,383 28,965 11 676,238
At 30 September 2022 61,794 - 413 649,103

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade debtors 2,008 1,199
Other debtors 8,157 -
Prepayments 5,299 12,691
15,464 13,890

Fife Lodge Hotel Ltd (Registered number: SC688103)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Trade creditors 25,880 33,682
Amounts owed to group undertakings 957,449 850,449
PAYE 6,976 5,026
VAT 43,882 35,507
Accrued expenses 73,952 83,567
1,108,139 1,008,231

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.9.23 30.9.22
£    £   
Within one year 1,080 1,620
Between one and five years - 1,080
1,080 2,700

8. RELATED PARTY DISCLOSURES

During the year Bachlaw Limited (director) increased the amount loaned to the company by £107,000 leaving a balance of £957,449 (2022 £850,449). This loan is unsecured, interest free and repayable on demand.

Fife Lodge Hotel Ltd

Report of the Accountants to the Directors of
Fife Lodge Hotel Ltd

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 September 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

This report is made solely to the Board of Directors of the company, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Board of Directors of the company, as a body, in this report in accordance with the requirements of the Institute of Financial Accountants. 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 the company has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities and financial position of the company. You consider that the company 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 the company. 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.






Atholl Scott
Victoria House
13 Victoria Street
ABERDEEN
AB10 1XB


2 September 2024