Silverfin false false 31/12/2023 14/09/2022 31/12/2023 Angus John Campbell 14/09/2022 Catherine Ann Campbell 14/09/2022 Lorna Morrison Campbell 14/09/2022 Tracey Morrison Campbell 14/09/2022 13 September 2024 The principal activity of the Company during the financial year was that of hoteliers. SC744457 2023-12-31 SC744457 bus:Director1 2023-12-31 SC744457 bus:Director2 2023-12-31 SC744457 bus:Director3 2023-12-31 SC744457 bus:Director4 2023-12-31 SC744457 core:CurrentFinancialInstruments 2023-12-31 SC744457 core:ShareCapital 2023-12-31 SC744457 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC744457 core:PlantMachinery 2022-09-13 SC744457 core:FurnitureFittings 2022-09-13 SC744457 core:ComputerEquipment 2022-09-13 SC744457 2022-09-13 SC744457 core:PlantMachinery 2023-12-31 SC744457 core:FurnitureFittings 2023-12-31 SC744457 core:ComputerEquipment 2023-12-31 SC744457 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-12-31 SC744457 bus:OrdinaryShareClass1 2023-12-31 SC744457 2022-09-14 2023-12-31 SC744457 bus:FilletedAccounts 2022-09-14 2023-12-31 SC744457 bus:SmallEntities 2022-09-14 2023-12-31 SC744457 bus:AuditExemptWithAccountantsReport 2022-09-14 2023-12-31 SC744457 bus:PrivateLimitedCompanyLtd 2022-09-14 2023-12-31 SC744457 bus:Director1 2022-09-14 2023-12-31 SC744457 bus:Director2 2022-09-14 2023-12-31 SC744457 bus:Director3 2022-09-14 2023-12-31 SC744457 bus:Director4 2022-09-14 2023-12-31 SC744457 core:PlantMachinery 2022-09-14 2023-12-31 SC744457 core:FurnitureFittings 2022-09-14 2023-12-31 SC744457 core:ComputerEquipment 2022-09-14 2023-12-31 SC744457 bus:OrdinaryShareClass1 2022-09-14 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC744457 (Scotland)

THE FORBES ARMS GROUP LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 14 SEPTEMBER 2022 TO 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

THE FORBES ARMS GROUP LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 14 SEPTEMBER 2022 TO 31 DECEMBER 2023

Contents

THE FORBES ARMS GROUP LTD

BALANCE SHEET

AS AT 31 DECEMBER 2023
THE FORBES ARMS GROUP LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 31.12.2023
£
Fixed assets
Tangible assets 3 153,400
153,400
Current assets
Stocks 18,839
Debtors 4 5,840
Cash at bank and in hand 43,528
68,207
Creditors: amounts falling due within one year 5 ( 511,789)
Net current liabilities (443,582)
Total assets less current liabilities (290,182)
Net liabilities ( 290,182)
Capital and reserves
Called-up share capital 6 100
Profit and loss account ( 290,282 )
Total shareholders' deficit ( 290,182)

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The Forbes Arms Group Ltd (registered number: SC744457) were approved and authorised for issue by the Board of Directors on 13 September 2024. They were signed on its behalf by:

Angus John Campbell
Director
THE FORBES ARMS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 14 SEPTEMBER 2022 TO 31 DECEMBER 2023
THE FORBES ARMS GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 14 SEPTEMBER 2022 TO 31 DECEMBER 2023
1. Accounting policies

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

General information and basis of accounting

The Forbes Arms Group Ltd (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 Bridgend Farmhouse, Mossat, Alford, AB33 8PL, Scotland, United Kingdom. The principal place of business is Bridge of Alford, Alford, AB33 8QJ.

The financial statements have been prepared under the historical cost convention and 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £290,182. The Company is supported through loans from an associated company. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of a hotel, 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 period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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:

Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 20 % 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

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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 cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from associated companies, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

2. Employees

Period from
14.09.2022 to
31.12.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 22

3. Tangible assets

Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 14 September 2022 0 0 0 0
Additions 20,354 140,978 15,369 176,701
At 31 December 2023 20,354 140,978 15,369 176,701
Accumulated depreciation
At 14 September 2022 0 0 0 0
Charge for the financial period 1,450 19,897 1,954 23,301
At 31 December 2023 1,450 19,897 1,954 23,301
Net book value
At 31 December 2023 18,904 121,081 13,415 153,400

4. Debtors

31.12.2023
£
Trade debtors 1,380
Other debtors 4,460
5,840

5. Creditors: amounts falling due within one year

31.12.2023
£
Trade creditors 23,158
Amounts owed to related parties 411,356
Other taxation and social security 35,570
Other creditors 41,705
511,789

6. Called-up share capital

31.12.2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

7. Related party transactions

Transactions with the entity's directors

Advances

During the period there were advances of £2,761 and repayments of £199. The balance remaining due to the company at 31 December 2023 is £2,562. No interest has been charged on this balance and there are no fixed terms of repayment.

Other related party transactions

31.12.2023
£
Amounts owed to company under common control 411,356

There was a loan from a company under common control made to The Forbes Arms Group in the year. This balance is interest free and has no fixed terms of repayment.