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Company No: SC759248 (Scotland)

ARMADILLA ACCOMMODATION LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 17 FEBRUARY 2023 TO 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

ARMADILLA ACCOMMODATION LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 17 FEBRUARY 2023 TO 31 MARCH 2024

Contents

ARMADILLA ACCOMMODATION LTD

BALANCE SHEET

AS AT 31 MARCH 2024
ARMADILLA ACCOMMODATION LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 31.03.2024
£
Fixed assets
Intangible assets 4 64,164
Tangible assets 5 119,655
Investments 6 2
183,821
Current assets
Stocks 174,048
Debtors 7 644,886
Cash at bank and in hand 648,222
1,467,156
Creditors: amounts falling due within one year 8 ( 1,636,045)
Net current liabilities (168,889)
Total assets less current liabilities 14,932
Creditors: amounts falling due after more than one year 9 ( 539,940)
Net liabilities ( 525,008)
Capital and reserves
Called-up share capital 10 100
Profit and loss account ( 525,108 )
Total shareholders' deficit ( 525,008)

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Armadilla Accommodation Ltd (registered number: SC759248) were approved and authorised for issue by the Director on 13 February 2025. They were signed on its behalf by:

R Hunter
Director
ARMADILLA ACCOMMODATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 17 FEBRUARY 2023 TO 31 MARCH 2024
ARMADILLA ACCOMMODATION LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 17 FEBRUARY 2023 TO 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Armadilla Accommodation Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Orchard House, The Walled Garden, Rosewell, EH24 9EQ, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £525,008. The Company is supported through loans from an associated Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the associated Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Reporting period length

Following incorporation of the Company on 17th February 2023, the reporting period length for the first financial period is 17th February 2023 to 31 March 2024.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Intangible assets

Intangible assets are stated at cost and net of amortisation. Amortisation is provided on all intangible assets at rates to write off the cost of each asset over its expected useful life as follows:

Development costs 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost and net of depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 4 years straight line
Vehicles 4 years straight line
Office equipment 4 years straight line
Computer equipment 4 years straight line

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash at bank and in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Contracts for services

Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

Valuation of work in progress and amounts recoverable on contracts - The Company uses the "percentage of completion method" to determine the appropriate amount to recognise in a given period. The value is calculated by reference to the value of work done at the year end compared to the total value of the contract on completion. The percentage completed at the year end is included within other debtors in the financial statements. The value of amounts recoverable on contracts at the year end is £566,973, less a provision of £285,819.

3. Employees

Period from
17.02.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 20

4. Intangible assets

Development costs Total
£ £
Cost
At 17 February 2023 0 0
Additions 73,330 73,330
At 31 March 2024 73,330 73,330
Accumulated amortisation
At 17 February 2023 0 0
Charge for the financial period 9,166 9,166
At 31 March 2024 9,166 9,166
Net book value
At 31 March 2024 64,164 64,164

5. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 17 February 2023 0 0 0 0 0 0
Additions 103,788 2,918 3,000 3,958 14,996 128,660
At 31 March 2024 103,788 2,918 3,000 3,958 14,996 128,660
Accumulated depreciation
At 17 February 2023 0 0 0 0 0 0
Charge for the financial period 5,520 365 750 495 1,875 9,005
At 31 March 2024 5,520 365 750 495 1,875 9,005
Net book value
At 31 March 2024 98,268 2,553 2,250 3,463 13,121 119,655

6. Fixed asset investments

Investments in subsidiaries

31.03.2024
£
Cost
At 17 February 2023 0
Additions 2
At 31 March 2024 2
Carrying value at 31 March 2024 2

Investments in shares

Name of entity Registered office Class of
shares
Ownership
31.03.2024
Held
Armadilla Ltd Unit 1 Mayfield Industrial Estate, Dalkeith, Scotland, EH22 4AD Ordinary 100.00% Direct
Arcadia Pods Limited Unit 1 Mayfield Industrial Estate, Dalkeith, Scotland, EH22 4AD Ordinary 100.00% Direct

7. Debtors

31.03.2024
£
Trade debtors 270,128
Amounts owed by related parties 19,958
Other debtors 354,800
644,886

Amounts owed by related parties are recoverable on demand and are not interest bearing.

8. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 18,986
Amounts owed to related parties 1,341,469
Other taxation and social security 24,473
Other creditors 251,117
1,636,045

Amounts owed to related parties are repayable within one year. £1,257,000 is subject to 6% interest per annum, whilst other amounts are not interest bearing.

9. Creditors: amounts falling due after more than one year

31.03.2024
£
Amounts owed to related parties 539,940

Amounts owed to related parties are repayble in 4 years and are charged at 4% interest per annum.

10. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

11. Financial commitments

Commitments

31.03.2024
£
Total future minimum lease payments under non-cancellable operating lease 1,426,533

12. Related party transactions

Transactions with owners holding a participating interest in the entity

31.03.2024
£
Amounts owed to shareholders 745

Transactions with entities in which the entity itself has a participating interest

31.03.2024
£
Amounts owed by Subsidiaries 19,958

Transactions with the entity's director

31.03.2024
£
Amounts owed to Directors 2,699

Other related party transactions

31.03.2024
£
Amounts owed to associated Companies 1,880,664

13. Ultimate controlling party

Parent Company:

Hoffbauer Beteiligungen UG & Co. KG
Mühlstr. 71 a, D-64367 Mühltal