0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC582056 2023-01-01 2023-12-31 SC582056 2023-12-31 SC582056 2022-12-31 SC582056 2022-01-01 2022-12-31 SC582056 2022-12-31 SC582056 2021-12-31 SC582056 core:FurnitureFittings 2023-01-01 2023-12-31 SC582056 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 SC582056 bus:Director1 2023-01-01 2023-12-31 SC582056 bus:Director2 2023-01-01 2023-12-31 SC582056 core:WithinOneYear 2023-12-31 SC582056 core:WithinOneYear 2022-12-31 SC582056 core:ShareCapital 2023-12-31 SC582056 core:ShareCapital 2022-12-31 SC582056 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC582056 core:RetainedEarningsAccumulatedLosses 2022-12-31 SC582056 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 SC582056 core:Non-currentFinancialInstruments 2023-12-31 SC582056 core:Non-currentFinancialInstruments 2022-12-31 SC582056 bus:SmallEntities 2023-01-01 2023-12-31 SC582056 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC582056 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC582056 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC582056 bus:AbridgedAccounts 2023-01-01 2023-12-31
STATEMENT OF CONSENT TO PREPARE ABRIDGED FINANCIAL STATEMENTS
All of the members of MSB Ardoe House Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: SC582056
MSB ARDOE HOUSE LIMITED
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
MSB ARDOE HOUSE LIMITED
REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ABRIDGED FINANCIAL STATEMENTS OF MSB ARDOE HOUSE LIMITED
YEAR ENDED 31 DECEMBER 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of MSB Ardoe House Limited for the year ended 31 December 2023, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
LANGARD LIFFORD HALL LIMITED Accountants and Registered Auditors
Lifford Hall Lifford Lane Kings Norton Birmingham B30 3JN
16 September 2024
MSB ARDOE HOUSE LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
96,392
96,392
Investments
5
3,400,000
3,400,000
--------------
--------------
3,496,392
3,496,392
Current assets
Debtors
73,888
73,888
Creditors: amounts falling due within one year
3,785,565
3,784,365
--------------
--------------
Net current liabilities
3,711,677
3,710,477
--------------
--------------
Total assets less current liabilities
( 215,285)
( 214,085)
------------
------------
Net liabilities
( 215,285)
( 214,085)
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 215,286)
( 214,086)
------------
------------
Shareholder deficit
( 215,285)
( 214,085)
------------
------------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the 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 member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
MSB ARDOE HOUSE LIMITED
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 16 September 2024 , and are signed on behalf of the board by:
W C Choy
W H Choy
Director
Director
Company registration number: SC582056
MSB ARDOE HOUSE LIMITED
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General Information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Ardoe House Hotel & Spa, South Deeside Road, Blairs, Aberdeen, AB12 5YP.
2. Statement of Compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis following assurances from the directors of their continuing financial support.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
10% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An Equity instruments is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial instruments.
4. Tangible Assets
£
Cost
At 1 January 2023 and 31 December 2023
120,490
------------
Depreciation
At 1 January 2023 and 31 December 2023
24,098
------------
Carrying amount
At 31 December 2023
96,392
------------
At 31 December 2022
96,392
------------
5. Investments
£
Cost
At 1 January 2023 and 31 December 2023
3,400,000
--------------
Impairment
At 1 January 2023 and 31 December 2023
--------------
Carrying amount
At 31 December 2023
3,400,000
--------------
At 31 December 2022
3,400,000
--------------
6. Controlling Party
The parent company is Propco Holding Ltd a company registered in Mauritius.