Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.9renting out premises on Eishken Estate2023-10-0111falsetruefalse SC479415 2023-10-01 2024-09-30 SC479415 2022-10-01 2023-09-30 SC479415 2024-09-30 SC479415 2023-09-30 SC479415 2022-10-01 SC479415 c:Director2 2023-10-01 2024-09-30 SC479415 d:PlantMachinery 2023-10-01 2024-09-30 SC479415 d:PlantMachinery 2024-09-30 SC479415 d:PlantMachinery 2023-09-30 SC479415 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC479415 d:MotorVehicles 2023-10-01 2024-09-30 SC479415 d:MotorVehicles 2024-09-30 SC479415 d:MotorVehicles 2023-09-30 SC479415 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC479415 d:FurnitureFittings 2023-10-01 2024-09-30 SC479415 d:FurnitureFittings 2024-09-30 SC479415 d:FurnitureFittings 2023-09-30 SC479415 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC479415 d:ComputerEquipment 2023-10-01 2024-09-30 SC479415 d:ComputerEquipment 2024-09-30 SC479415 d:ComputerEquipment 2023-09-30 SC479415 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC479415 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 SC479415 d:FreeholdInvestmentProperty 2024-09-30 SC479415 d:FreeholdInvestmentProperty 2023-09-30 SC479415 d:CurrentFinancialInstruments 2024-09-30 SC479415 d:CurrentFinancialInstruments 2023-09-30 SC479415 d:Non-currentFinancialInstruments 2024-09-30 SC479415 d:Non-currentFinancialInstruments 2023-09-30 SC479415 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 SC479415 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 SC479415 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 SC479415 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 SC479415 d:ShareCapital 2024-09-30 SC479415 d:ShareCapital 2023-09-30 SC479415 d:InvestmentPropertiesRevaluationReserve 2024-09-30 SC479415 d:InvestmentPropertiesRevaluationReserve 2023-09-30 SC479415 d:RetainedEarningsAccumulatedLosses 2024-09-30 SC479415 d:RetainedEarningsAccumulatedLosses 2023-09-30 SC479415 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 SC479415 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 SC479415 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 SC479415 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 SC479415 c:OrdinaryShareClass1 2023-10-01 2024-09-30 SC479415 c:OrdinaryShareClass1 2024-09-30 SC479415 c:FRS102 2023-10-01 2024-09-30 SC479415 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 SC479415 c:FullAccounts 2023-10-01 2024-09-30 SC479415 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 SC479415 d:WithinOneYear 2024-09-30 SC479415 d:WithinOneYear 2023-09-30 SC479415 d:BetweenOneFiveYears 2024-09-30 SC479415 d:BetweenOneFiveYears 2023-09-30 SC479415 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: SC479415









EISHKEN LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
EISHKEN LIMITED
REGISTERED NUMBER: SC479415

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

FIXED ASSETS
  

Tangible assets
 4 
44,947
31,771

Investment property
 5 
14,722,676
14,722,676

  
14,767,623
14,754,447

CURRENT ASSETS
  

Stocks
  
30,849
30,476

Debtors: amounts falling due within one year
 6 
109,992
118,540

Cash at bank and in hand
  
14,042
5,384

  
154,883
154,400

Creditors: amounts falling due within one year
 7 
(5,298,016)
(3,898,590)

NET CURRENT LIABILITIES
  
 
 
(5,143,133)
 
 
(3,744,190)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
9,624,490
11,010,257

Creditors: amounts falling due after more than one year
 8 
(8,000,000)
(8,000,000)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(451,117)
(762,471)

  
 
 
(451,117)
 
 
(762,471)

NET ASSETS
  
1,173,373
2,247,786


CAPITAL AND RESERVES
  

Called up share capital 
 10 
200
200

Investment property revaluation reserve
  
7,146,525
7,146,525

Profit and loss account
  
(5,973,352)
(4,898,939)

  
1,173,373
2,247,786


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
EISHKEN LIMITED
REGISTERED NUMBER: SC479415
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N M Oppenheim
Director

Date: 14 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
EISHKEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

Eishken Limited is a private company limited by shares and incorporated in Scotland. Its registered office is Eishken Lodge, Eishken, Isle Of Lewis, HS2 9LQ.
The Company's functional and presentational currency is GBP. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The Company incurred a loss for the year but had net assets of £1,173,373 as at 30 September 2024 (2023 - £2,247,786). The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive finanical support from its shareholders and lenders to provide sufficient funds to enable it to meet its liabilities as they fall due.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the Company in respect of letting and rental income during the year, exclusive of Value Added Tax and trade discounts. Revenue is recognised as the fair value of the consideration received or receivable and is recognised in the accounting period to which it relates.

 
2.4

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
EISHKEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.6
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance or straight line basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
15%
reducing balance
Computer equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. 

 
2.10

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
EISHKEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 11 (2023 - 9).

Page 5

 
EISHKEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


TANGIBLE FIXED ASSETS





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



COST OR VALUATION


At 1 October 2023
488,285
137,311
531,274
8,786
1,165,656


Additions
-
24,749
-
-
24,749


Disposals
-
(7,700)
-
-
(7,700)



At 30 September 2024

488,285
154,360
531,274
8,786
1,182,705



DEPRECIATION


At 1 October 2023
487,169
136,527
507,632
2,557
1,133,885


Charge for the year on owned assets
272
6,198
3,546
1,557
11,573


Disposals
-
(7,700)
-
-
(7,700)



At 30 September 2024

487,441
135,025
511,178
4,114
1,137,758



NET BOOK VALUE



At 30 September 2024
844
19,335
20,096
4,672
44,947



At 30 September 2023
1,116
784
23,642
6,229
31,771


5.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 October 2023
14,722,676



AT 30 SEPTEMBER 2024
14,722,676

The 2024 valuations were made by the directors based on professional advice received, on an open market value for existing use basis.




Page 6

 
EISHKEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
5,068
28

Prepayments and accrued income
104,924
118,512

109,992
118,540



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Loan from J. N. Oppenheim
3,303,592
2,336,092

Trade creditors
134,795
134,209

Loan from directors
1,785,250
1,325,250

Other taxation and social security
10,767
13,975

Other creditors
1,123
664

Accruals and deferred income
62,489
88,400

5,298,016
3,898,590


Other creditors include contributions of £1,123 (2023 - £664) payable to the Company's defined contribution pension scheme at the balance sheet date.


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
8,000,000
8,000,000


Bank loans comprise loans secured on the company's investment property. The loans are repayable 5 years after the drawdown date, being 28 March 2023. Interest is charged at 2.59% above the base rate on the £2m loan and 3.99% above the base rate on the £6m loan. Minimum caps enforced are 3.84% and 5.24% respectively.

Page 7

 
EISHKEN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
762,471
1,062,099


Charged to profit or loss
(311,354)
(299,628)



AT END OF YEAR
451,117
762,471

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised gains on investment properties
2,253,475
2,253,475

Tax losses carried forward
(1,802,358)
(1,491,004)

451,117
762,471


10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



20,000 Ordinary shares of £0.01 each
200
200



11.


COMMITMENTS UNDER OPERATING LEASES

At 30 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
19,375
77,500

Later than 1 year and not later than 5 years
-
19,375

19,375
96,875

 
Page 8