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REGISTERED NUMBER: 14059094 (England and Wales)












MAINS OF TAYMOUTH LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


MAINS OF TAYMOUTH LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: J C Morphet
P Rossiter





SECRETARY: P Rossiter





REGISTERED OFFICE: South Lakeland House
Yealand Redmayne
Carnforth
Lancashire
LA5 9RN





REGISTERED NUMBER: 14059094 (England and Wales)





AUDITORS: Rushtons
Chartered Accountants
Statutory Auditors
Shorrock House
1 Faraday Court
Fulwood
Preston
Lancashire
PR2 9NB

MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,737,505 2,887,505
Tangible assets 5 9,568,274 7,700,158
Investments 6 2,233,459 2,213,459
14,539,238 12,801,122

CURRENT ASSETS
Stocks 764,618 968,636
Debtors 459,183 591,434
Cash at bank and in hand 691,468 270,906
1,915,269 1,830,976
CREDITORS
Amounts falling due within one year 16,752,315 14,686,742
NET CURRENT LIABILITIES (14,837,046 ) (12,855,766 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(297,808

)

(54,644

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (297,908 ) (54,744 )
SHAREHOLDERS' FUNDS (297,808 ) (54,644 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2024 and were signed on its behalf by:





P Rossiter - Director


MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Mains of Taymouth Ltd is a private company, limited by shares , registered in England and Wales. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £

The company is a parent and subsidiary in the Pure Leisure Group. Consolidated accounts are drawn up for the ultimate parent company, Pure Leisure Group Limited. Hence, the company is exempt from the obligation to prepare and deliver group accounts in its own right.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The turnover of the company represents the sale of holiday lodges,holiday lodge rental and income from owners.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost

Land is not depreciated

The gain or loss airising on the disposal of an asset is determined as the difference between sale proceeds and the carrying amount of the value of the asset, and is credited or charged to profit or loss

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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

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 the profit or loss. Reversals of impairment losses are also recognised in the profit or loss

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade debtors, other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including trade creditors, other creditors and amounts due to fellow group companies 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.

Going concern
The financial statements have been prepared on a going concern basis. The company is part of a large profitable group, which will continue to give support and does not intend to place the company under any undue pressure to repay any intercompany loans.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 30 ) .

MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 3,000,005
AMORTISATION
At 1 February 2023 112,500
Amortisation for year 150,000
At 31 January 2024 262,500
NET BOOK VALUE

At 31 January 2024 2,737,505
At 31 January 2023 2,887,505

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 7,807,272
Additions 2,039,163
At 31 January 2024 9,846,435
DEPRECIATION
At 1 February 2023 107,114
Charge for year 171,047
At 31 January 2024 278,161
NET BOOK VALUE
At 31 January 2024 9,568,274
At 31 January 2023 7,700,158

MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2023 2,213,459
Additions 20,000
At 31 January 2024 2,233,459
NET BOOK VALUE
At 31 January 2024 2,233,459
At 31 January 2023 2,213,459

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Kenmore Quarry Limited
Registered office: Mains of Taymouth, Kenmore, Aberfeldy, Perthshire, PH15 2HN
Nature of business: Development of properties
%
Class of shares: holding
Ordinary 100.00

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Calvert ACA (Senior Statutory Auditor)
for and on behalf of Rushtons

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the year end, there was an amount of £nil (2023: £2,257) owed by John Morphet's sole trader businesses.

MAINS OF TAYMOUTH LTD (REGISTERED NUMBER: 14059094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

9. ULTIMATE CONTROLLING PARTY

The company was, at the year end, a wholly owned subsidiary of Pure Leisure Group Limited, incorporated in the United Kingdom. Pure Leisure Group Limited prepares consolidated financial statements. In accordance with Section 400 of the Companies Act 2006, the company is not required to produce, and has not published, consolidated financial statements. As a result, these financial statements present information about it as an individual, not its group.

The directors consider the ultimate parent undertaking to be Pure Leisure Group Limited, a company incorporated in the United Kingdom. The registered office address for the parent company is:

South Lakeland House
Main A6
Yealand Redmayne
Carnforth
Lancashire
LA5 9RN.

The ultimate controlling party is John Morphet by way of his controlling interest in the ultimate parent undertaking Pure Leisure Group Limited.

The smallest and largest group in which the results of the company are consolidated is that headed by Pure Leisure Group Limited. The consolidated accounts of this group are available to the public and may be obtained from:

The Registrar of Companies
Companies House
Crown Way
Cardiff
CF14 3UZ.