Silverfin false false 31/05/2024 01/06/2023 31/05/2024 J Campbell 08/05/2008 C O'Brien 08/05/2008 J Revie 23/06/2023 08/05/2008 27 February 2025 The principal activity of the Company during the financial year was that of operating a hotel. SC340899 2024-05-31 SC340899 bus:Director1 2024-05-31 SC340899 bus:Director2 2024-05-31 SC340899 bus:Director3 2024-05-31 SC340899 2023-05-31 SC340899 core:CurrentFinancialInstruments 2024-05-31 SC340899 core:CurrentFinancialInstruments 2023-05-31 SC340899 core:Non-currentFinancialInstruments 2024-05-31 SC340899 core:Non-currentFinancialInstruments 2023-05-31 SC340899 core:ShareCapital 2024-05-31 SC340899 core:ShareCapital 2023-05-31 SC340899 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC340899 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC340899 core:LandBuildings 2023-05-31 SC340899 core:OtherPropertyPlantEquipment 2023-05-31 SC340899 core:LandBuildings 2024-05-31 SC340899 core:OtherPropertyPlantEquipment 2024-05-31 SC340899 bus:OrdinaryShareClass1 2024-05-31 SC340899 2023-06-01 2024-05-31 SC340899 bus:FilletedAccounts 2023-06-01 2024-05-31 SC340899 bus:SmallEntities 2023-06-01 2024-05-31 SC340899 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC340899 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC340899 bus:Director1 2023-06-01 2024-05-31 SC340899 bus:Director2 2023-06-01 2024-05-31 SC340899 bus:Director3 2023-06-01 2024-05-31 SC340899 core:LandBuildings core:TopRangeValue 2023-06-01 2024-05-31 SC340899 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-06-01 2024-05-31 SC340899 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-06-01 2024-05-31 SC340899 2022-06-01 2023-05-31 SC340899 core:LandBuildings 2023-06-01 2024-05-31 SC340899 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 SC340899 core:Non-currentFinancialInstruments 2023-06-01 2024-05-31 SC340899 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC340899 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC340899 (Scotland)

RROCK LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

RROCK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

RROCK LIMITED

BALANCE SHEET

AS AT 31 MAY 2024
RROCK LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 418,793 387,246
418,793 387,246
Current assets
Stocks 0 21,255
Debtors 4 3,694 402
Cash at bank and in hand 58,832 134,423
62,526 156,080
Creditors: amounts falling due within one year 5 ( 13,894) ( 129,743)
Net current assets 48,632 26,337
Total assets less current liabilities 467,425 413,583
Creditors: amounts falling due after more than one year 6 ( 291,000) ( 136,575)
Net assets 176,425 277,008
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 176,325 276,908
Total shareholders' funds 176,425 277,008

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

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Rrock Limited (registered number: SC340899) were approved and authorised for issue by the Board of Directors on 27 February 2025. They were signed on its behalf by:

J Campbell
Director
RROCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
RROCK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
1. Accounting policies

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

General information and basis of accounting

Rrock Limited (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 3 Royal Terrace, Edinburgh, EH7 5AB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for food and drink provided in the restaurant along with accommodation in the hotel 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 25 years straight line
Plant and machinery etc. 4 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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 as described below.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

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 initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. 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, bank loans and related party loans, are initially 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 20

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 June 2023 845,723 372,450 1,218,173
Additions 51,659 22,563 74,222
At 31 May 2024 897,382 395,013 1,292,395
Accumulated depreciation
At 01 June 2023 473,605 357,322 830,927
Charge for the financial year 36,256 6,419 42,675
At 31 May 2024 509,861 363,741 873,602
Net book value
At 31 May 2024 387,521 31,272 418,793
At 31 May 2023 372,118 15,128 387,246

4. Debtors

2024 2023
£ £
Other debtors 3,694 402

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 5,400 10,429
Other creditors 8,494 119,314
13,894 129,743

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

2024 2023
£ £
Other creditors 291,000 136,575

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amount due to key management personnel 61,000 136,000
Amount due to other related parties 230,000 105,000