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Company Registration No. SC689324 (Scotland)
Glenesk Holdings Ltd Unaudited accounts for the year ended 29 February 2024
Glenesk Holdings Ltd Unaudited accounts Contents
Page
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Glenesk Holdings Ltd Company Information for the year ended 29 February 2024
Director
Ritu Dutt
Company Number
SC689324 (Scotland)
Registered Office
GLENESK HOTEL 1 HIGH STREET EDZELL DD9 7TF SCOTLAND
Accountants
SA Ledgers Ltd 57 Canbury Park Road Kingston KT2 6LQ
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Glenesk Holdings Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
85,000 
90,000 
Tangible assets
254,994 
198,516 
339,994 
288,516 
Current assets
Inventories
10,000 
10,000 
Debtors
22,842 
5,914 
Cash at bank and in hand
(26,556)
14,269 
6,286 
30,183 
Creditors: amounts falling due within one year
(372,458)
(265,641)
Net current liabilities
(366,172)
(235,458)
Net (liabilities)/assets
(26,178)
53,058 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(26,278)
52,958 
Shareholders' funds
(26,178)
53,058 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 November 2024 and were signed on its behalf by
Ritu Dutt Director Company Registration No. SC689324
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Glenesk Holdings Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Glenesk Holdings Ltd is a private company, limited by shares, registered in Scotland, registration number SC689324. The registered office is GLENESK HOTEL, 1 HIGH STREET, EDZELL, DD9 7TF, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
After reviewing the company’s forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements. Despite the impact of the COVID-19 pandemic, the company has retained profitiability. The main creditor is the director who continues to support the company and hotel.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5
Fixtures & fittings
7
Computer equipment
4
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Deferred taxation
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 accounts. 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.
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Glenesk Holdings Ltd Notes to the Accounts for the year ended 29 February 2024
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
100,000 
At 29 February 2024
100,000 
Amortisation
At 1 March 2023
10,000 
Charge for the year
5,000 
At 29 February 2024
15,000 
Net book value
At 29 February 2024
85,000 
At 28 February 2023
90,000 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
19,295 
244,613 
1,897 
265,805 
Additions
3,695 
72,241 
- 
75,936 
At 29 February 2024
22,990 
316,854 
1,897 
341,741 
Depreciation
At 1 March 2023
5,444 
61,124 
721 
67,289 
Charge for the year
924 
18,060 
474 
19,458 
At 29 February 2024
6,368 
79,184 
1,195 
86,747 
Net book value
At 29 February 2024
16,622 
237,670 
702 
254,994 
At 28 February 2023
13,851 
183,489 
1,176 
198,516 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
(10,904)
(25,998)
Trade debtors
1,834 
- 
Deferred tax asset
31,912 
31,912 
22,842 
5,914 
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Glenesk Holdings Ltd Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
127,265 
29,556 
Taxes and social security
384 
19,375 
Other creditors
(1,103)
(709)
Loans from directors
228,773 
200,280 
Deferred income
17,139 
17,139 
372,458 
265,641 
8
Average number of employees
During the year the average number of employees was 11 (2023: 11).
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