Company No:
Contents
Note | 30.04.2024 | |
£ | ||
Fixed assets | ||
Investments | 3 |
|
2,023,332 | ||
Creditors: amounts falling due within one year | 4 | (
|
Net current liabilities | (611,062) | |
Total assets less current liabilities | 1,412,270 | |
Creditors: amounts falling due after more than one year | 5 | (
|
Net liabilities | (
|
|
Capital and reserves | ||
Called-up share capital | 6 |
|
Profit and loss account | (
|
|
Total shareholders' deficit | (
|
Directors' responsibilities:
The financial statements of Struan Hotels Limited (registered number:
T P Breheny
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Struan Hotels Limited (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 Garfield Hotel, Cumbernauld Road, Glasgow, G33 6HW, Scotland, United Kingdom.
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 £.
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 £62,191. The Company is supported through loans from Group Companies. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Subsidiary Company will continue to support the Company. After making enquiries, 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.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
This is the company's first reporting period covering the incorporation date of 19 September 2023 to 30 April 2024.
Interests in subsidiaries is initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
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 liabilities
Basic financial liabilities, including loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
Period from 19.09.2023 to 30.04.2024 |
|
Number | |
Monthly average number of persons employed by the Company during the period, including directors |
|
Investments in subsidiaries
30.04.2024 | |
£ | |
Cost | |
At 19 September 2023 | 0 |
Additions |
|
At 30 April 2024 |
|
Carrying value at 30 April 2024 |
|
Investments in shares
Name of entity | Registered office | Principal activity | Class of shares |
Ownership 30.04.2024 |
|
C/O Garfield Hotel Cumbernauld Road, Stepps, Glasgow, G33 6HW | Holding company |
|
|
30.04.2024 | |
£ | |
Amounts owed to Group undertakings |
|
Other creditors |
|
|
30.04.2024 | |
£ | |
Other creditors |
|
30.04.2024 | |
£ | |
Allotted, called-up and fully-paid | |
|
|
|
|
30.48 |
Transactions with entities in which the entity itself has a participating interest
30.04.2024 | |
£ | |
Amounts owed to group companies | 82,438 |
Transactions with the entity's directors
30.04.2024 | |
£ | |
Amounts owed to directors | 200,000 |
This loan is interest free and has no fixed repayment terms.