Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Alexandra Elizabeth Boswell 08/12/2011 22 October 2024 The principal activity of the company is that of operator of a cafe and farm shop. SC412846 2024-03-31 SC412846 bus:Director1 2024-03-31 SC412846 2023-03-31 SC412846 core:CurrentFinancialInstruments 2024-03-31 SC412846 core:CurrentFinancialInstruments 2023-03-31 SC412846 core:ShareCapital 2024-03-31 SC412846 core:ShareCapital 2023-03-31 SC412846 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC412846 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC412846 core:LandBuildings 2023-03-31 SC412846 core:OtherPropertyPlantEquipment 2023-03-31 SC412846 core:LandBuildings 2024-03-31 SC412846 core:OtherPropertyPlantEquipment 2024-03-31 SC412846 2023-04-01 2024-03-31 SC412846 bus:FilletedAccounts 2023-04-01 2024-03-31 SC412846 bus:SmallEntities 2023-04-01 2024-03-31 SC412846 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC412846 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC412846 bus:Director1 2023-04-01 2024-03-31 SC412846 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC412846 2021-12-01 2023-03-31 SC412846 core:LandBuildings 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: SC412846 (Scotland)

BOSWELLS COACH HOUSE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

BOSWELLS COACH HOUSE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

BOSWELLS COACH HOUSE LIMITED

BALANCE SHEET

As at 31 March 2024
BOSWELLS COACH HOUSE LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.03.2023
£ £
Fixed assets
Tangible assets 4 255,901 260,904
255,901 260,904
Current assets
Stocks 6,000 6,000
Debtors 5 94 12,563
Cash at bank and in hand ( 17,158) 21,046
(11,064) 39,609
Creditors: amounts falling due within one year 6 ( 209,174) ( 247,190)
Net current liabilities (220,238) (207,581)
Total assets less current liabilities 35,663 53,323
Provision for liabilities ( 4,035) ( 4,179)
Net assets 31,628 49,144
Capital and reserves
Called-up share capital 1,000 1,000
Profit and loss account 30,628 48,144
Total shareholder's funds 31,628 49,144

For the financial 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.

Director's responsibilities:

The financial statements of BOSWELLS COACH HOUSE LIMITED (registered number: SC412846) were approved and authorised for issue by the Director on 22 October 2024. They were signed on its behalf by:

Alexandra Elizabeth Boswell
Director
BOSWELLS COACH HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
BOSWELLS COACH HOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

BOSWELLS COACH HOUSE LIMITED (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Blackfauldhead, Auchinleck Estate, Auchinleck, KA18 2LR, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The comparative amounts presented in the financial statements (including the related notes) are not entirely comparable due to them been prepared for a period of 16 months to align with other related enterprises to a year end date of 31st March.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 0 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of overheads based on normal levels of activity.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3. Employees

Year ended
31.03.2024
Period from
01.12.2021 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 20 21

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 234,663 30,715 265,378
At 31 March 2024 234,663 30,715 265,378
Accumulated depreciation
At 01 April 2023 0 4,474 4,474
Charge for the financial year 0 5,003 5,003
At 31 March 2024 0 9,477 9,477
Net book value
At 31 March 2024 234,663 21,238 255,901
At 31 March 2023 234,663 26,241 260,904

5. Debtors

31.03.2024 31.03.2023
£ £
Other debtors 94 12,563

6. Creditors: amounts falling due within one year

31.03.2024 31.03.2023
£ £
Trade creditors 4,890 0
Taxation and social security 7,309 22,118
Other creditors 196,975 225,072
209,174 247,190

7. Related party transactions

Included within 'Other debtors' is an amount due from the son of the director of £nil (2022 - £10,810), repayable on demand with no interest being charged.

Included within 'Other creditors' is an amount owed to the director of £201,845 (2022 - £192,412). This amount is repayable on demand and does not bear interest.