Silverfin false false 30/04/2024 19/09/2023 30/04/2024 O M C Breheny 12/01/2024 T P Breheny 19/09/2023 J Fernandez-Ares 19/09/2023 T G Paterson 19/09/2023 10 September 2024 The principal activity of the Company during the financial period was that of a holding company. SC782923 2024-04-30 SC782923 bus:Director1 2024-04-30 SC782923 bus:Director2 2024-04-30 SC782923 bus:Director3 2024-04-30 SC782923 bus:Director4 2024-04-30 SC782923 core:CurrentFinancialInstruments 2024-04-30 SC782923 core:Non-currentFinancialInstruments 2024-04-30 SC782923 core:ShareCapital 2024-04-30 SC782923 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC782923 core:AdditionsToInvestments 2024-04-30 SC782923 core:CostValuation 2024-04-30 SC782923 bus:OrdinaryShareClass1 2024-04-30 SC782923 bus:OrdinaryShareClass2 2024-04-30 SC782923 2023-09-19 2024-04-30 SC782923 bus:FilletedAccounts 2023-09-19 2024-04-30 SC782923 bus:SmallEntities 2023-09-19 2024-04-30 SC782923 bus:AuditExemptWithAccountantsReport 2023-09-19 2024-04-30 SC782923 bus:PrivateLimitedCompanyLtd 2023-09-19 2024-04-30 SC782923 bus:Director1 2023-09-19 2024-04-30 SC782923 bus:Director2 2023-09-19 2024-04-30 SC782923 bus:Director3 2023-09-19 2024-04-30 SC782923 bus:Director4 2023-09-19 2024-04-30 SC782923 core:Subsidiary1 2023-09-19 2024-04-30 SC782923 core:Subsidiary1 1 2023-09-19 2024-04-30 SC782923 core:CurrentFinancialInstruments 2023-09-19 2024-04-30 SC782923 core:Non-currentFinancialInstruments 2023-09-19 2024-04-30 SC782923 bus:OrdinaryShareClass1 2023-09-19 2024-04-30 SC782923 bus:OrdinaryShareClass2 2023-09-19 2024-04-30 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: SC782923 (Scotland)

STRUAN HOTELS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 19 SEPTEMBER 2023 TO 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

STRUAN HOTELS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 19 SEPTEMBER 2023 TO 30 APRIL 2024

Contents

STRUAN HOTELS LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
STRUAN HOTELS LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 30.04.2024
£
Fixed assets
Investments 3 2,023,332
2,023,332
Creditors: amounts falling due within one year 4 ( 611,062)
Net current liabilities (611,062)
Total assets less current liabilities 1,412,270
Creditors: amounts falling due after more than one year 5 ( 1,474,461)
Net liabilities ( 62,191)
Capital and reserves
Called-up share capital 6 30
Profit and loss account ( 62,221 )
Total shareholders' deficit ( 62,191)

For the financial period ending 30 April 2024 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 Struan Hotels Limited (registered number: SC782923) were approved and authorised for issue by the Board of Directors on 10 September 2024. They were signed on its behalf by:

T P Breheny
Director
STRUAN HOTELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 19 SEPTEMBER 2023 TO 30 APRIL 2024
STRUAN HOTELS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 19 SEPTEMBER 2023 TO 30 APRIL 2024
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

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 £.

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 £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

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.

Reporting period length

This is the company's first reporting period covering the incorporation date of 19 September 2023 to 30 April 2024.

Fixed asset investments

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 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 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.

2. Employees

Period from
19.09.2023 to
30.04.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 4

3. Fixed asset investments

Investments in subsidiaries

30.04.2024
£
Cost
At 19 September 2023 0
Additions 2,023,332
At 30 April 2024 2,023,332
Carrying value at 30 April 2024 2,023,332

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.04.2024
Garfield Hotel Holdings Limited C/O Garfield Hotel Cumbernauld Road, Stepps, Glasgow, G33 6HW Holding company Ordinary 100.00%

4. Creditors: amounts falling due within one year

30.04.2024
£
Amounts owed to Group undertakings 82,438
Other creditors 528,624
611,062

The company has fixed and floating charges over the assets in respect of £208,585 outstanding which is included within other creditors.

5. Creditors: amounts falling due after more than one year

30.04.2024
£
Other creditors 1,474,461

The company has fixed and floating charges over the assets in respect of the £1,474,461 outstanding which is included within other creditors.

6. Called-up share capital

30.04.2024
£
Allotted, called-up and fully-paid
761 A ordinary shares of £ 0.01 each 7.61
2,287 B ordinary shares of £ 0.01 each 22.87
30.48

7. Related party transactions

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.