Company registration number SC658286 (Scotland)
WESTER ESSENDY HOLIDAY COTTAGES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
WESTER ESSENDY HOLIDAY COTTAGES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
WESTER ESSENDY HOLIDAY COTTAGES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
357,221
23,407
Current assets
Stocks
2,022
2,022
Debtors
18,278
2,266
Cash at bank and in hand
7,307
16,957
27,607
21,245
Creditors: amounts falling due within one year
4
(390,880)
(45,469)
Net current liabilities
(363,273)
(24,224)
Net liabilities
(6,052)
(817)
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
(7,052)
(1,817)
Total equity
(6,052)
(817)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 October 2024
Mr C Grant
Director
Company Registration No. SC658286
WESTER ESSENDY HOLIDAY COTTAGES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Wester Essendy Holiday Cottages Limited is a private company limited by shares incorporated in Scotland. The registered office is The Steading, Wester Essendy, Blairgowrie, Perthshire, PH10 6RA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings
No depreciation
Fixtures and fittings
No depreciation
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.
1.4
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
WESTER ESSENDY HOLIDAY COTTAGES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
Tangible fixed assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
23,407
23,407
Additions
326,792
7,022
333,814
At 31 March 2024
350,199
7,022
357,221
Depreciation and impairment
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
350,199
7,022
357,221
At 31 March 2023
23,407
23,407
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
389,180
44,349
Accruals and deferred income
1,700
1,120
390,880
45,469
5
Ultimate controlling party
Wester Essendy Holiday Cottages Limited is controlled by the director in accordance with his respective shareholding.