1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP SC562447 2023-04-01 2024-03-31 SC562447 2024-03-31 SC562447 2023-03-31 SC562447 2022-04-01 2023-03-31 SC562447 2023-03-31 SC562447 2022-03-31 SC562447 core:PlantMachinery 2023-04-01 2024-03-31 SC562447 bus:Director2 2023-04-01 2024-03-31 SC562447 bus:Director1 2023-04-01 2024-03-31 SC562447 core:PlantMachinery 2023-03-31 SC562447 core:PlantMachinery 2024-03-31 SC562447 core:WithinOneYear 2024-03-31 SC562447 core:WithinOneYear 2023-03-31 SC562447 core:ShareCapital 2024-03-31 SC562447 core:ShareCapital 2023-03-31 SC562447 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC562447 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC562447 core:PlantMachinery 2023-03-31 SC562447 bus:Director1 2023-03-31 SC562447 bus:Director1 2024-03-31 SC562447 bus:Director2 2023-03-31 SC562447 bus:Director2 2024-03-31 SC562447 bus:Director1 2022-03-31 SC562447 bus:Director1 2023-03-31 SC562447 bus:Director2 2022-03-31 SC562447 bus:Director2 2023-03-31 SC562447 bus:Director1 2022-04-01 2023-03-31 SC562447 bus:Director2 2022-04-01 2023-03-31 SC562447 bus:SmallEntities 2023-04-01 2024-03-31 SC562447 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC562447 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC562447 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC562447 bus:FullAccounts 2023-04-01 2024-03-31 SC562447 core:LeaseholdImprovements 2023-04-01 2024-03-31 SC562447 core:LeaseholdImprovements 2023-03-31 SC562447 core:LeaseholdImprovements 2024-03-31 SC562447 core:KeyManagementIndividualGroup1 2023-04-01 2024-03-31 SC562447 core:KeyManagementIndividualGroup1 2024-03-31 SC562447 core:ParentEntities 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: SC562447
Sligachan Self Catering Ltd
Filleted Unaudited Financial Statements
31 March 2024
Sligachan Self Catering Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
62,225
61,804
Current assets
Debtors
6
1,330
9,488
Cash at bank and in hand
12,251
27,488
--------
--------
13,581
36,976
Creditors: amounts falling due within one year
7
58,281
77,332
--------
--------
Net current liabilities
44,700
40,356
--------
--------
Total assets less current liabilities
17,525
21,448
Provisions
7,515
6,469
--------
--------
Net assets
10,010
14,979
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
10,008
14,977
--------
--------
Shareholders funds
10,010
14,979
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sligachan Self Catering Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Ms R M Coghill
Director
Company registration number: SC562447
Sligachan Self Catering Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 36 Huntly Street, Huntly Street, Inverness, IV3 5PR, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
15% straight line
Tenant's Improvements
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Plant and equipment
Tenant's improvements
Total
£
£
£
Cost
At 1 April 2023
29,326
231,068
260,394
Additions
4,445
27,468
31,913
Disposals
( 667)
( 667)
--------
---------
---------
At 31 March 2024
33,104
258,536
291,640
--------
---------
---------
Depreciation
At 1 April 2023
13,827
184,763
198,590
Charge for the year
4,491
26,497
30,988
Disposals
( 163)
( 163)
--------
---------
---------
At 31 March 2024
18,155
211,260
229,415
--------
---------
---------
Carrying amount
At 31 March 2024
14,949
47,276
62,225
--------
---------
---------
At 31 March 2023
15,499
46,305
61,804
--------
---------
---------
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2
2
Other debtors
1,328
9,486
-------
-------
1,330
9,488
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
9,339
5,618
Corporation tax
7,241
4,277
Social security and other taxes
5,486
10,079
Other creditors
36,215
57,358
--------
--------
58,281
77,332
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr A J Coghill
( 407)
( 450)
( 857)
Ms R M Coghill
687
844
( 2,127)
( 596)
----
----
-------
-------
280
844
( 2,577)
( 1,453)
----
----
-------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr A J Coghill
( 138)
171
( 440)
( 407)
Ms R M Coghill
( 1,265)
4,292
( 2,340)
687
-------
-------
-------
----
( 1,403)
4,463
( 2,780)
280
-------
-------
-------
----
9. Related party transactions
At 31 March 2024 the company was due 2 directors (2023 - 1) £ 1,453 (2023 - £407) and at the same date no director (2023 - 1) was due to repay the company £nil (2023 - £687). These loans are interest free and have no definite terms of repayment . The company had use of four properties owned by it's parent company at no charge during the current and previous year .
10. Controlling party
The company is a 100% subsidiary of Central Skye Hotels Ltd , a company registered in Scotland with the registration number SC027013 and registered office at Forbes House, 36 Huntly Street, Inverness, IV3 5PR .