0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,076 2,076 xbrli:pure xbrli:shares iso4217:GBP SC273604 2023-08-01 2024-07-31 SC273604 2024-07-31 SC273604 2023-07-31 SC273604 2022-08-01 2023-07-31 SC273604 2023-07-31 SC273604 2022-07-31 SC273604 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 SC273604 bus:Director1 2023-08-01 2024-07-31 SC273604 core:WithinOneYear 2024-07-31 SC273604 core:WithinOneYear 2023-07-31 SC273604 core:ShareCapital 2024-07-31 SC273604 core:ShareCapital 2023-07-31 SC273604 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC273604 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC273604 bus:SmallEntities 2023-08-01 2024-07-31 SC273604 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC273604 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 SC273604 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC273604 bus:FullAccounts 2023-08-01 2024-07-31 SC273604 bus:OrdinaryShareClass1 2024-07-31 SC273604 bus:OrdinaryShareClass1 2023-07-31 SC273604 core:ComputerEquipment 2023-08-01 2024-07-31 SC273604 core:ComputerEquipment 2024-07-31
COMPANY REGISTRATION NUMBER: SC273604
C Mountain Lodges Limited
Filleted Unaudited Financial Statements
For the year ended
31 July 2024
C Mountain Lodges Limited
Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Current assets
Debtors
5
619,010
618,174
Cash at bank and in hand
43,084
56,047
---------
---------
662,094
674,221
Creditors: amounts falling due within one year
6
471,378
471,301
---------
---------
Net current assets
190,716
202,920
---------
---------
Total assets less current liabilities
190,716
202,920
---------
---------
Net assets
190,716
202,920
---------
---------
Capital and reserves
Called up share capital
7
10,000
10,000
Profit and loss account
180,716
192,920
---------
---------
Shareholders funds
190,716
202,920
---------
---------
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 March 2025 , and are signed on behalf of the board by:
S D Crabb
Director
Company registration number: SC273604
C Mountain Lodges Limited
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 14 Riversdale Crescent, Edinburgh, EH12 5QT.
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 under the historical cost convention, modified to include the revaluation of certain fixed assets. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Turnover represents net invoiced sales of services and goods, excluding value added tax. Turnover is recognised in full when guests arrive at the accommodation or, if a booking is cancelled, at that point and at the amount determined by the standard booking conditions of the company. Other items of turnover are recognised when goods or services are provided.
Taxation
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Equipment
-
33% reducing balance
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 August 2023 and 31 July 2024
2,076
2,076
-------
-------
Depreciation
At 1 August 2023 and 31 July 2024
2,076
2,076
-------
-------
Carrying amount
At 31 July 2024
-------
-------
At 31 July 2023
-------
-------
5. Debtors
2024
2023
£
£
Amounts owed by group and connected undertakings.
617,484
617,484
Other debtors
1,526
690
---------
---------
619,010
618,174
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
109
342
Amounts owed to group and connected undertakings
209,954
209,954
Other creditors
261,315
261,005
---------
---------
471,378
471,301
---------
---------
7. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
10,000
10,000
10,000
10,000
--------
--------
--------
--------
8. Related party transactions
As at 31 July 2024, the company was owed £617,484 (2023: £617,484) by companies in which R Rennie, J Rennie and S Crabb are also directors. As at 31 July 2024, the company owed £209,954 (2023: £209,954) to companies in which R Rennie, J Rennie and S Crabb are also directors. These loans are interest free with no fixed repayment terms.