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REGISTERED NUMBER: SC199961 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Ayre Hotel (Kirkwall) Limited

Ayre Hotel (Kirkwall) Limited (Registered number: SC199961)

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


Ayre Hotel (Kirkwall) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Jashpal Singh Thind
Baljit Gill Thind





REGISTERED OFFICE: Ayre Hotel
Ayre Road
Kirkwall
KW15 1QX





REGISTERED NUMBER: SC199961 (Scotland)





ACCOUNTANTS: Dhillon Accountants Limited
Chartered Accountants
Office 1
21 Hatherton Street
Walsall
WS4 2LA

Ayre Hotel (Kirkwall) Limited (Registered number: SC199961)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 950 1,425
Tangible assets 5 4,478,263 4,389,628
4,479,213 4,391,053

CURRENT ASSETS
Stocks 6,272 5,811
Debtors 6 190,841 172,067
Cash at bank and in hand 167,033 104,658
364,146 282,536
CREDITORS
Amounts falling due within one year 7 (369,933 ) (428,419 )
NET CURRENT LIABILITIES (5,787 ) (145,883 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,473,426

4,245,170

PROVISIONS FOR LIABILITIES (15,632 ) (15,632 )
NET ASSETS 4,457,794 4,229,538

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 4,457,792 4,229,536
SHAREHOLDERS' FUNDS 4,457,794 4,229,538

Ayre Hotel (Kirkwall) Limited (Registered number: SC199961)

Balance Sheet - continued
31 March 2024


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 30 October 2024 and were signed on its behalf by:





Jashpal Singh Thind - Director


Ayre Hotel (Kirkwall) Limited (Registered number: SC199961)

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


1. STATUTORY INFORMATION

Ayre Hotel (Kirkwall) 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.

Preparation of consolidated financial statements
The financial statements contain information about Ayre Hotel (Kirkwall) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

Intangible assets
Other intangible assets are for software costs. It is amortised to profit and loss account over its estimated economic life of 10 years.

Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold 2% to 10% straight line
Fixtures & Fittings 20% reducing balance basis
Computer Equipment 33% reducing balance basis

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


Ayre Hotel (Kirkwall) Limited (Registered number: SC199961)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2023 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 200,000 4,750 204,750
AMORTISATION
At 1 April 2023 200,000 3,325 203,325
Charge for year - 475 475
At 31 March 2024 200,000 3,800 203,800
NET BOOK VALUE
At 31 March 2024 - 950 950
At 31 March 2023 - 1,425 1,425

Ayre Hotel (Kirkwall) Limited (Registered number: SC199961)

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 5,017,043 960,091 5,977,134
Additions 179,446 169,812 349,258
At 31 March 2024 5,196,489 1,129,903 6,326,392
DEPRECIATION
At 1 April 2023 1,054,767 532,739 1,587,506
Charge for year 157,405 103,218 260,623
At 31 March 2024 1,212,172 635,957 1,848,129
NET BOOK VALUE
At 31 March 2024 3,984,317 493,946 4,478,263
At 31 March 2023 3,962,276 427,352 4,389,628

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 38,182 43,012
Other debtors 152,659 129,055
190,841 172,067

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 130,236 47,539
Amounts owed to group undertakings - 160,174
Taxation and social security 149,442 87,094
Other creditors 90,255 133,612
369,933 428,419

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors is an amount of £7,967 (2022 - £20,715) that is owed to the directors. The loan is interest free and repayable on demand.

Ayre Hotel (Kirkwall) Limited (Registered number: SC199961)

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


9. RELATED PARTY DISCLOSURES

As of 31 March 2024, the company was owed £59,191.09 (2023 - £16,031.14) from Assura Hospitality Limited. ('Assura')

As of 31 March 2024, the company was owed £5,833.74 (2023 - £5,611.20) from The Winnock Hotel (Drymen) Limited. ('Winnock')

Mr and Mrs Thind were the directors of Assura and Winnock as of 31 March 2024.

10. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is Accora Hospitality Limited Limited by virtue of it's ownership of 100% of the issued share capital in the company.