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COMPANY REGISTRATION NUMBER: SC075265
Ancaster Arms Hotel Ltd
Filleted Unaudited Financial Statements
31 July 2024
Ancaster Arms Hotel Ltd
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
504,486
505,332
Current assets
Debtors
6
738
724
Cash at bank and in hand
96,800
132,549
--------
---------
97,538
133,273
Creditors: amounts falling due within one year
7
6,551
53,797
--------
---------
Net current assets
90,987
79,476
---------
---------
Total assets less current liabilities
595,473
584,808
---------
---------
Net assets
595,473
584,808
---------
---------
Capital and reserves
Called up share capital
60,000
60,000
Revaluation reserve
358,275
358,275
Capital redemption reserve
20,000
20,000
Profit and loss account
157,198
146,533
---------
---------
Shareholders funds
595,473
584,808
---------
---------
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 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ancaster Arms Hotel Ltd
Statement of Financial Position (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 5 January 2025 , and are signed on behalf of the board by:
Mrs A MacArthur
Director
Company registration number: SC075265
Ancaster Arms Hotel Ltd
Notes to the Financial Statements
Year ended 31 July 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is The Ancaster, 35 Main Street, Callander, FK17 8EA.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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 & Machinery
-
20% straight line
Fixtures & Fittings
-
10% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 August 2023 and 31 July 2024
500,000
29,832
17,828
547,660
---------
--------
--------
---------
Depreciation
At 1 August 2023
24,500
17,828
42,328
Charge for the year
846
846
---------
--------
--------
---------
At 31 July 2024
25,346
17,828
43,174
---------
--------
--------
---------
Carrying amount
At 31 July 2024
500,000
4,486
504,486
---------
--------
--------
---------
At 31 July 2023
500,000
5,332
505,332
---------
--------
--------
---------
Included within the above is investment property as follows:
£
---------
At 1 August 2023 and 31 July 2024
500,000
---------
The original cost of the property was £141,725. The investment property is measured annually at fair value. Changes in fair value are recognised in profit or loss.
6. Debtors
2024
2023
£
£
Trade debtors
738
724
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
5,164
6,019
Other creditors
1,387
47,778
-------
--------
6,551
53,797
-------
--------
8. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
500,000
500,000
---------
---------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs A MacArthur
( 46,398)
46,391
( 7)
--------
--------
----
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs A MacArthur
( 46,721)
323
( 46,398)
--------
----
--------
10. Related party transactions
The company was under the control of the director throughout the current and previous year. At the balance sheet date, the company owed the director £7 (2023: £46,398).