8 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC672792 2023-04-01 2024-03-31 SC672792 2024-03-31 SC672792 2023-03-31 SC672792 2022-04-01 2023-03-31 SC672792 2023-03-31 SC672792 2022-03-31 SC672792 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC672792 core:PlantMachinery 2023-04-01 2024-03-31 SC672792 core:FurnitureFittings 2023-04-01 2024-03-31 SC672792 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC672792 bus:Director1 2023-04-01 2024-03-31 SC672792 bus:Director2 2023-04-01 2024-03-31 SC672792 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 SC672792 core:PlantMachinery 2023-03-31 SC672792 core:FurnitureFittings 2023-03-31 SC672792 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 SC672792 core:PlantMachinery 2024-03-31 SC672792 core:FurnitureFittings 2024-03-31 SC672792 core:WithinOneYear 2024-03-31 SC672792 core:WithinOneYear 2023-03-31 SC672792 core:ShareCapital 2024-03-31 SC672792 core:ShareCapital 2023-03-31 SC672792 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC672792 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC672792 core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 SC672792 core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 SC672792 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 SC672792 core:PlantMachinery 2023-03-31 SC672792 core:FurnitureFittings 2023-03-31 SC672792 bus:SmallEntities 2023-04-01 2024-03-31 SC672792 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC672792 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC672792 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC672792 bus:FullAccounts 2023-04-01 2024-03-31 SC672792 bus:OrdinaryShareClass1 2024-03-31 SC672792 bus:OrdinaryShareClass1 2023-03-31 SC672792 core:ToolsEquipment 2023-04-01 2024-03-31 SC672792 core:ToolsEquipment 2023-03-31 SC672792 core:ToolsEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: SC672792
Killiecrankie Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
Killiecrankie Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,252,434
1,304,710
Current assets
Stocks
17,348
24,351
Debtors
6
11,571
6,092
Cash at bank and in hand
25,975
14,608
--------
--------
54,894
45,051
Creditors: amounts falling due within one year
7
1,738,120
1,721,686
------------
------------
Net current liabilities
1,683,226
1,676,635
------------
------------
Total assets less current liabilities
( 430,792)
( 371,925)
Provisions
46,833
41,641
---------
---------
Net liabilities
( 477,625)
( 413,566)
---------
---------
Capital and reserves
Called up share capital
9
10
10
Profit and loss account
( 477,635)
( 413,576)
---------
---------
Shareholders deficit
( 477,625)
( 413,566)
---------
---------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its 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 financial statements .
Killiecrankie Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 30 September 2024 , and are signed on behalf of the board by:
Mr T L Tsappis
Mrs M A I Tsappis
Director
Director
Company registration number: SC672792
Killiecrankie Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 30 Bonnethill Road, Pitlochry, Perthshire, PH16 5BS. The principal place of business is the Killiecrankie Hotel, Killiecrankie, Perthshire, PH16 5LG.
2. Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company had a deficiency of assets at the balance sheet date, however this is wholly covered by amounts owed to the directors. Therefore, the directors consider it appropriate to prepare the accounts on the going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for meals and stays in the hotel, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
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:
Freehold property
-
2% straight line
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Equipment
-
33% straight line
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.
Stocks
Stocks represent food and beverage stock and are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, cash at bank, trade creditors, Taxes due to HMRC, accruals and directors' loans. Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice amount. Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in profit and loss. Cash at bank is measured at the undiscounted amount held by a bank. Accruals and taxes due to or from HMRC are measured at the undiscounted amount receivable or payable. Directors' loans have no fixed terms for repayment and are measured at the undiscounted cash expected to be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 7 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2023
1,119,121
13,660
263,705
2,165
1,398,651
Additions
1,975
1,039
715
3,729
------------
--------
---------
-------
------------
At 31 March 2024
1,121,096
14,699
264,420
2,165
1,402,380
------------
--------
---------
-------
------------
Depreciation
At 1 April 2023
33,573
2,866
56,367
1,135
93,941
Charge for the year
22,421
1,775
31,208
601
56,005
------------
--------
---------
-------
------------
At 31 March 2024
55,994
4,641
87,575
1,736
149,946
------------
--------
---------
-------
------------
Carrying amount
At 31 March 2024
1,065,102
10,058
176,845
429
1,252,434
------------
--------
---------
-------
------------
At 31 March 2023
1,085,548
10,794
207,338
1,030
1,304,710
------------
--------
---------
-------
------------
Freehold property consists mainly of the Killiecrankie Hotel, Killiecrankie and is shown in the accounts at the amount paid for the Hotel of £840,000 along with legal fees, LBTT paid on purchase and improvement costs.
6. Debtors
2024
2023
£
£
Trade debtors
8,965
6,092
Other debtors
2,606
--------
-------
11,571
6,092
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
8,296
7,740
Trade creditors
7,258
1,522
Social security and other taxes
17,266
13,134
Other creditors
1,705,300
1,699,290
------------
------------
1,738,120
1,721,686
------------
------------
8. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions
46,833
41,641
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
46,833
41,641
--------
--------
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
10
10
10
10
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----
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