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REGISTERED NUMBER: SC565578 (Scotland)




















Craigievar Guest House Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Craigievar Guest House Limited (Registered number: SC565578)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Craigievar Guest House Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mrs C R Yiu



REGISTERED OFFICE: 4 Warriston Place
Edinburgh
Midlothian
EH3 5LE



REGISTERED NUMBER: SC565578 (Scotland)



BANKERS: Bank of Scotland
110 Queen Street
Glasgow
G1 3BY

Craigievar Guest House Limited (Registered number: SC565578)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,610 6,760

CURRENT ASSETS
Stocks 200 200
Debtors 5 6,050 6,643
Cash at bank 16,894 40,188
23,144 47,031
CREDITORS
Amounts falling due within one year 6 14,047 29,596
NET CURRENT ASSETS 9,097 17,435
TOTAL ASSETS LESS CURRENT LIABILITIES 13,707 24,195

CREDITORS
Amounts falling due after more than one
year

7

-

(5,481

)

PROVISIONS FOR LIABILITIES (876 ) (1,284 )
NET ASSETS 12,831 17,430

Craigievar Guest House Limited (Registered number: SC565578)

Balance Sheet - continued
31 July 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,731 17,330
SHAREHOLDERS' FUNDS 12,831 17,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 3 October 2024 and were signed by:





Mrs C R Yiu - Director


Craigievar Guest House Limited (Registered number: SC565578)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Craigievar Guest House 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 and revenue recognition
Turnover represents invoiced sales of services. Turnover is recognised when the services are supplied to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 7 years

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.


Craigievar Guest House Limited (Registered number: SC565578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

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 where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

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

Provision for liabilities
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Craigievar Guest House Limited (Registered number: SC565578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 22,368
Additions 1,219
At 31 July 2024 23,587
DEPRECIATION
At 1 August 2023 15,608
Charge for year 3,369
At 31 July 2024 18,977
NET BOOK VALUE
At 31 July 2024 4,610
At 31 July 2023 6,760

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 6,050 6,643

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 3,019
Taxation and social security 2,849 4,618
Other creditors 11,198 21,959
14,047 29,596

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 5,481

Craigievar Guest House Limited (Registered number: SC565578)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs C R Yiu.

Craigievar Guest House Limited is a wholly owned subsidiary of Napier Property Management Limited, a company registered in Scotland and whose registered office is 13 Groathill Avenue, Edinburgh, EH4 2LR.