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REGISTERED NUMBER: SC585716 (Scotland)




















Whitekirk Hill Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023






Whitekirk Hill Limited (Registered number: SC585716)






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


Whitekirk Hill Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Wilkie
I Wilkie



REGISTERED OFFICE: Whitekirk Mains Farm
Whitekirk
Dunbar
EH42 1XS



REGISTERED NUMBER: SC585716 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland plc
32 Court Street
Haddington
East Lothian
EH41 3NS

Whitekirk Hill Limited (Registered number: SC585716)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,880,021 8,783,783

CURRENT ASSETS
Stocks 21,366 27,119
Debtors 5 575,631 1,117,645
Cash at bank and in hand 71,899 45,163
668,896 1,189,927
CREDITORS
Amounts falling due within one year 6 4,132,660 3,986,674
NET CURRENT LIABILITIES (3,463,764 ) (2,796,747 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,416,257

5,987,036

CREDITORS
Amounts falling due after more than
one year

7

100,992

96,308
NET ASSETS 5,315,265 5,890,728

CAPITAL AND RESERVES
Called up share capital 8,000,133 8,000,133
Retained earnings (2,684,868 ) (2,109,405 )
SHAREHOLDERS' FUNDS 5,315,265 5,890,728

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 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.

Whitekirk Hill Limited (Registered number: SC585716)

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 Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





A Wilkie - Director


Whitekirk Hill Limited (Registered number: SC585716)

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

1. STATUTORY INFORMATION

Whitekirk Hill Limited 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 bar, restaurant and leisure facility sales, excluding value added tax.

Revenue is recognised at the point the service is provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 20% on cost, 10% on cost and Nil
Plant and machinery etc - 20% on cost

Government grants
Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. All loans with related parties are all repayable on demand.

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.

Whitekirk Hill Limited (Registered number: SC585716)

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future, which is in line with current financial projections and support provided by the shareholders. In order to do so the company will require the continued support of the bank and directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2022 - 46 ) .

Whitekirk Hill Limited (Registered number: SC585716)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 9,014,800 210,166 9,224,966
Additions 199,206 72,813 272,019
At 31 December 2023 9,214,006 282,979 9,496,985
DEPRECIATION
At 1 January 2023 325,310 115,873 441,183
Charge for year 131,208 44,573 175,781
At 31 December 2023 456,518 160,446 616,964
NET BOOK VALUE
At 31 December 2023 8,757,488 122,533 8,880,021
At 31 December 2022 8,689,490 94,293 8,783,783

Included in cost of land and buildings is freehold land of £ 1,792,309 (2022 - £ 1,785,577 ) which is not depreciated.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 41,750
Additions 55,994
At 31 December 2023 97,744
DEPRECIATION
At 1 January 2023 17,829
Charge for year 11,150
At 31 December 2023 28,979
NET BOOK VALUE
At 31 December 2023 68,765
At 31 December 2022 23,921

Whitekirk Hill Limited (Registered number: SC585716)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 607
Amounts owed by group undertakings 264,057 -
Other debtors 311,574 1,117,038
575,631 1,117,645

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,170,000 2,896,167
Hire purchase contracts 13,826 4,364
Trade creditors 84,409 93,067
Amounts owed to group undertakings - 154,355
Taxation and social security 111,285 99,093
Other creditors 753,140 739,628
4,132,660 3,986,674

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 63,251 82,498
Hire purchase contracts 37,741 13,810
100,992 96,308

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 18,333 28,332

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 3,150,000 2,876,167

15PM LLP holds a fixed and floating charge over all the assets of the company.

Whitekirk Hill Limited (Registered number: SC585716)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J Wilkie
Balance outstanding at start of year 45,567 (7,677 )
Amounts advanced 1,000 55,843
Amounts repaid - (2,599 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,567 45,567

Included within other debtors is a loan to a director, which is unsecured, repayable on demand and interest payable at 2.25%.