Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr P Davidson 01/11/2019 Mr C Lamb 01/11/2019 Mrs J Murray 01/08/2023 Mr T Nutbrown 08/11/2019 Mr D Riley-Smith 04/09/2019 23 September 2024 The principal activity of the company is that of the operation of an exclusive use property. SC640648 2023-12-31 SC640648 bus:Director1 2023-12-31 SC640648 bus:Director2 2023-12-31 SC640648 bus:Director3 2023-12-31 SC640648 bus:Director4 2023-12-31 SC640648 bus:Director5 2023-12-31 SC640648 2022-12-31 SC640648 core:CurrentFinancialInstruments 2023-12-31 SC640648 core:CurrentFinancialInstruments 2022-12-31 SC640648 core:Non-currentFinancialInstruments 2023-12-31 SC640648 core:Non-currentFinancialInstruments 2022-12-31 SC640648 core:ShareCapital 2023-12-31 SC640648 core:ShareCapital 2022-12-31 SC640648 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC640648 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC640648 core:OtherResidualIntangibleAssets 2022-12-31 SC640648 core:OtherResidualIntangibleAssets 2023-12-31 SC640648 core:LandBuildings 2022-12-31 SC640648 core:PlantMachinery 2022-12-31 SC640648 core:Vehicles 2022-12-31 SC640648 core:FurnitureFittings 2022-12-31 SC640648 core:LandBuildings 2023-12-31 SC640648 core:PlantMachinery 2023-12-31 SC640648 core:Vehicles 2023-12-31 SC640648 core:FurnitureFittings 2023-12-31 SC640648 bus:OrdinaryShareClass1 2023-12-31 SC640648 2023-01-01 2023-12-31 SC640648 bus:FilletedAccounts 2023-01-01 2023-12-31 SC640648 bus:SmallEntities 2023-01-01 2023-12-31 SC640648 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC640648 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC640648 bus:Director1 2023-01-01 2023-12-31 SC640648 bus:Director2 2023-01-01 2023-12-31 SC640648 bus:Director3 2023-01-01 2023-12-31 SC640648 bus:Director4 2023-01-01 2023-12-31 SC640648 bus:Director5 2023-01-01 2023-12-31 SC640648 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-01-01 2023-12-31 SC640648 core:PlantMachinery core:TopRangeValue 2023-01-01 2023-12-31 SC640648 core:Vehicles core:TopRangeValue 2023-01-01 2023-12-31 SC640648 core:FurnitureFittings core:TopRangeValue 2023-01-01 2023-12-31 SC640648 2022-01-01 2022-12-31 SC640648 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 SC640648 core:LandBuildings 2023-01-01 2023-12-31 SC640648 core:PlantMachinery 2023-01-01 2023-12-31 SC640648 core:Vehicles 2023-01-01 2023-12-31 SC640648 core:FurnitureFittings 2023-01-01 2023-12-31 SC640648 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 SC640648 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 SC640648 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 SC640648 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC640648 (Scotland)

ROTHES GLEN LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

ROTHES GLEN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023

Contents

ROTHES GLEN LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2023
ROTHES GLEN LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 797 913
Tangible assets 4 2,546,478 2,583,674
2,547,275 2,584,587
Current assets
Stocks 66,414 60,996
Debtors 5 56,401 47,568
Cash at bank and in hand 15,657 18,564
138,472 127,128
Creditors: amounts falling due within one year 6 ( 3,007,748) ( 2,778,095)
Net current liabilities (2,869,276) (2,650,967)
Total assets less current liabilities (322,001) (66,380)
Creditors: amounts falling due after more than one year 7 ( 460,491) ( 485,981)
Net liabilities ( 782,492) ( 552,361)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 782,592 ) ( 552,461 )
Total shareholders' deficit ( 782,492) ( 552,361)

For the financial year 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 Rothes Glen Limited (registered number: SC640648) were approved and authorised for issue by the Board of Directors on 23 September 2024. They were signed on its behalf by:

Mr T Nutbrown
Director
ROTHES GLEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
ROTHES GLEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2023
1. Accounting policies

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

General information and basis of accounting

Rothes Glen 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 Rothes Glen House, Rothes, Aberlour, AB38 7AQ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £782,492. The Company is supported through loans from the directors. 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 business, 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.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 10 years straight line
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:

Land and buildings not depreciated
Plant and machinery 5 years straight line
Vehicles 5 years straight line
Fixtures and fittings 10 years straight line

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

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

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 proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 5

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 January 2023 1,155 1,155
At 31 December 2023 1,155 1,155
Accumulated amortisation
At 01 January 2023 242 242
Charge for the financial year 116 116
At 31 December 2023 358 358
Net book value
At 31 December 2023 797 797
At 31 December 2022 913 913

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Total
£ £ £ £ £
Cost
At 01 January 2023 2,396,081 1,320 2,795 248,015 2,648,211
Additions 0 0 4,750 11,739 16,489
Disposals 0 ( 1,320) ( 2,795) 0 ( 4,115)
At 31 December 2023 2,396,081 0 4,750 259,754 2,660,585
Accumulated depreciation
At 01 January 2023 0 770 1,770 61,997 64,537
Charge for the financial year 0 198 578 51,951 52,727
Disposals 0 ( 968) ( 2,189) 0 ( 3,157)
At 31 December 2023 0 0 159 113,948 114,107
Net book value
At 31 December 2023 2,396,081 0 4,591 145,806 2,546,478
At 31 December 2022 2,396,081 550 1,025 186,018 2,583,674

5. Debtors

2023 2022
£ £
Trade debtors 35,270 35,069
Other debtors 21,131 12,499
56,401 47,568

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 21,291 20,521
Trade creditors 50,658 70,837
Other taxation and social security 16,565 5,958
Other creditors 2,919,234 2,680,779
3,007,748 2,778,095

The bank loan is secured by a fixed charge over the property held by the company and a guarantee has been provided by a member of key management personnel.

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

2023 2022
£ £
Bank loans 460,491 485,981

The bank loan is secured by a fixed charge over the property held by the company and a guarantee has been provided by a member of key management personnel.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with owners holding a participating interest in the entity

2023 2022
£ £
Entities with control, joint control or significant influence over the company 689,968 689,968

Interest is charged on the above balance at 4% per annum. The balance is repayable only when the company has sufficient funds to do so.

Transactions with the entity's directors

2023 2022
£ £
Key management personnel 874,932 874,932

Interest is charged on the above balance at 4% per annum. The balance is repayable only when the company has sufficient funds to do so.

Other related party transactions

2023 2022
£ £
Other related parties 821,330 776,280

Interest is partially charged at 8.84% and partially at 4%. The balance is repayable only when the company has sufficient funds to do so.