Registered number
SC207645
Foveran Hotel Limited
Unaudited Financial Statements
31 January 2024
Pages for filing with registrar
Foveran Hotel Limited
Registered number: SC207645
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 2,088 2,534
Tangible assets 4 838,496 567,535
840,584 570,069
Current assets
Stocks 10,617 8,004
Debtors 5 8,930 18,167
Cash at bank and in hand 82,298 336,484
101,845 362,655
Creditors: amounts falling due within one year 6 (141,000) (175,870)
Net current (liabilities)/assets (39,155) 186,785
Total assets less current liabilities 801,429 756,854
Provisions for liabilities 7 (24,110) (24,880)
Government grants 8 (16,660) (17,355)
Net assets 760,659 714,619
Capital and reserves
Called up share capital 7 7
Share premium 150,000 150,000
Profit and loss account 610,652 564,612
Shareholders' funds 760,659 714,619
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
F M Bain
Director
Approved by the board on 28 October 2024
Foveran Hotel Limited
Notes to the Accounts
for the period from 1 July 2023 to 31 January 2024
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

The financial statements are prepared in sterling, which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer at the time of supply. Turnover from the sale of accommodation services is recognised when the service has been provided.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Amortisation of website costs is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives at 20% straight line basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 2% straight line basis
Leasehold land and buildings over the lease term
Plant and machinery 20% reducing balance / 5% straight line basis
Fixtures, fittings & equipment 15% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price. Cost comprises direct materials for resale and certain items held for consumption in the course of normal trade.

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 and loss. Reversals of impairment losses are also recognised in profit or loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

Government grants relating to turnover are recognised as income over the periods when the related costs are incurred. Grants relating to an asset are recognised in income systematically over the asset's expected useful life. If part of such a grant is deferred it is recognised as deferred income rather than being deducted from the asset's carrying amount.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 37
3 Intangible fixed assets £
Website costs:
Cost
At 1 July 2023 3,823
At 31 January 2024 3,823
Amortisation
At 1 July 2023 1,289
Provided during the period 446
At 31 January 2024 1,735
Net book value
At 31 January 2024 2,088
At 30 June 2023 2,534
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 687,828 209,616 897,444
Additions 284,280 1,213 285,493
At 31 January 2024 972,108 210,829 1,182,937
Depreciation
At 1 July 2023 168,439 161,470 329,909
Charge for the period 10,172 4,360 14,532
At 31 January 2024 178,611 165,830 344,441
Net book value
At 31 January 2024 793,497 44,999 838,496
At 30 June 2023 519,389 48,146 567,535
5 Debtors 2024 2023
£ £
Trade debtors 248 485
Other debtors 8,682 17,682
8,930 18,167
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 23,244 40,101
Taxation and social security costs 68,548 65,117
Other creditors 49,208 70,652
141,000 175,870
7 Provision for liabilities 2024 2023
£ £
Deferred tax liabilities 24,110 24,880
8 Government Grants
The company received grants towards the acquisition of certain tangible assets. These grants are initially deferred and then released to the profit and loss acount in line with the consumption of the assets to which they relate.
9 Other information
Foveran Hotel Limited is a private company limited by shares and incorporated in Scotland. The registered office is:
C/O S & J D Robertson Group Limited, Dunkirk, Shore Street, Kirkwall, Orkney, KW15 1LG
Foveran Hotel Limited is a subsidiary of S & J D Robertson Group Limited, a company registered at Dunkirk, Shore Street, Kirkwall, Orkney, KW15 1LG.
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