IRIS Accounts Production v24.3.0.553 SC697145 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC6971452023-03-31SC6971452024-03-31SC6971452023-04-012024-03-31SC6971452022-03-31SC6971452022-04-012023-03-31SC6971452023-03-31SC697145ns15:Scotland2023-04-012024-03-31SC697145ns14:PoundSterling2023-04-012024-03-31SC697145ns10:Director12023-04-012024-03-31SC697145ns10:PrivateLimitedCompanyLtd2023-04-012024-03-31SC697145ns10:SmallEntities2023-04-012024-03-31SC697145ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-31SC697145ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-31SC697145ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-31SC697145ns10:FullAccounts2023-04-012024-03-31SC69714512023-04-012024-03-31SC697145ns10:Director22023-04-012024-03-31SC697145ns10:RegisteredOffice2023-04-012024-03-31SC697145ns5:CurrentFinancialInstruments2024-03-31SC697145ns5:CurrentFinancialInstruments2023-03-31SC697145ns5:Non-currentFinancialInstruments2024-03-31SC697145ns5:Non-currentFinancialInstruments2023-03-31SC697145ns5:ShareCapital2024-03-31SC697145ns5:ShareCapital2023-03-31SC697145ns5:RetainedEarningsAccumulatedLosses2024-03-31SC697145ns5:RetainedEarningsAccumulatedLosses2023-03-31SC697145ns5:NetGoodwill2023-04-012024-03-31SC697145ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31SC697145ns5:LandBuildings2023-04-012024-03-31SC697145ns5:PlantMachinery2023-04-012024-03-31SC697145ns5:NetGoodwill2023-03-31SC697145ns5:NetGoodwill2024-03-31SC697145ns5:NetGoodwill2023-03-31SC697145ns5:LandBuildings2023-03-31SC697145ns5:PlantMachinery2023-03-31SC697145ns5:LandBuildings2024-03-31SC697145ns5:PlantMachinery2024-03-31SC697145ns5:LandBuildings2023-03-31SC697145ns5:PlantMachinery2023-03-31SC697145ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-31SC697145ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC697145ns5:CurrentFinancialInstruments2023-04-012024-03-31
REGISTERED NUMBER: SC697145 (Scotland)




















Souter Hotels Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Souter Hotels Ltd (Registered number: SC697145)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Souter Hotels Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: N Souter
G Smith



REGISTERED OFFICE: Castlebay Hotel
Castlebay
Isle of Barra
Western Isles
HS9 5XD



REGISTERED NUMBER: SC697145 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Royal Bank of Scotland
Castelbay
PO BOX 1
Isle of Barra
HS9 5XA

Souter Hotels Ltd (Registered number: SC697145)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 164,000 184,500
Tangible assets 5 801,039 768,913
965,039 953,413

CURRENT ASSETS
Stocks 19,814 23,204
Debtors 6 41,849 17,692
Cash at bank and in hand 81,658 16,377
143,321 57,273
CREDITORS
Amounts falling due within one year 7 539,084 509,098
NET CURRENT LIABILITIES (395,763 ) (451,825 )
TOTAL ASSETS LESS CURRENT LIABILITIES 569,276 501,588

CREDITORS
Amounts falling due after more than one
year

8

(499,406

)

(508,161

)

PROVISIONS FOR LIABILITIES (3,414 ) (2,207 )
NET ASSETS/(LIABILITIES) 66,456 (8,780 )

Souter Hotels Ltd (Registered number: SC697145)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Retained earnings 65,455 (9,781 )
66,456 (8,780 )

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





N Souter - Director


Souter Hotels Ltd (Registered number: SC697145)

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

1. STATUTORY INFORMATION

Souter Hotels Ltd 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
Turnover represents invoices sales of accommodation, food, beverages excluding value added tax. It is recognised in the period in which the goods or services are provided.

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 ten 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.
Land and buildings - Nil
Plant and machinery etc - 25% on cost and 20% on cost

Land and buildings are valued at cost.

Government grants
Government grants in relation to tangible fixed asset are credited to the profit and loss account over the
useful lives of the related assets, whereas those in relation to expenditure are credited when the
expenditure is charged to profit and loss.

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 has financial assets and financial liabilities of a kind that qualify only as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value.

Souter Hotels Ltd (Registered number: SC697145)

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

2. ACCOUNTING POLICIES - continued

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.

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.

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.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable 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.

Going concern
The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support of its director. The director will continue to support the company and is confident of the continued support of the bank and other creditors.

Souter Hotels Ltd (Registered number: SC697145)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 205,000
AMORTISATION
At 1 April 2023 20,500
Charge for year 20,500
At 31 March 2024 41,000
NET BOOK VALUE
At 31 March 2024 164,000
At 31 March 2023 184,500

Souter Hotels Ltd (Registered number: SC697145)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 658,400 138,683 797,083
Additions 46,994 18,484 65,478
Disposals - (4,460 ) (4,460 )
At 31 March 2024 705,394 152,707 858,101
DEPRECIATION
At 1 April 2023 - 28,170 28,170
Charge for year - 29,674 29,674
Eliminated on disposal - (782 ) (782 )
At 31 March 2024 - 57,062 57,062
NET BOOK VALUE
At 31 March 2024 705,394 95,645 801,039
At 31 March 2023 658,400 110,513 768,913

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 12,365 6,746
Other debtors 29,484 10,946
41,849 17,692

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 20,404 32,399
Trade creditors 20,576 10,044
Taxation and social security 36,318 22,796
Other creditors 461,786 443,859
539,084 509,098

Souter Hotels Ltd (Registered number: SC697145)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included within other creditors is a loan from a director. The loan is unsecured, interest-free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 499,406 508,161

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 390,248 362,609

9. SECURED DEBTS

The Cumberland Building Society loan is secured by a standard and floating charge over all the assets of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

All balances with directors are unsecured and repayable on demand.