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Registration number: SC711024

Taynuilt Revisited Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Taynuilt Revisited Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

 

Taynuilt Revisited Limited

Company Information

Directors

Mr Calum Maclachlainn

Mr Paul Sloan

Registered office

1 Aldersyde
Taynuilt
Argyll
PA35 1AG

Accountants

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

Taynuilt Revisited Limited

Directors' Report for the Year Ended 31 October 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Calum Maclachlainn

Mr Paul Sloan

Principal activity

The principal activity of the company is reconstruction of the Taynuilt Inn

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 10 April 2025 and signed on its behalf by:
 

.........................................
Mr Calum Maclachlainn
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Taynuilt Revisited Limited
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Taynuilt Revisited Limited for the year ended 31 October 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Taynuilt Revisited Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Taynuilt Revisited Limited and state those matters that we have agreed to state to the Board of Directors of Taynuilt Revisited Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Taynuilt Revisited Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Taynuilt Revisited Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Taynuilt Revisited Limited. You consider that Taynuilt Revisited Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Taynuilt Revisited Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

10 April 2025

 

Taynuilt Revisited Limited

Profit and Loss Account for the Year Ended 31 October 2024

Note

2024
£

2023
£

Turnover

 

-

-

Cost of sales

 

(3,517)

(109)

Gross loss

 

(3,517)

(109)

Administrative expenses

 

(1,746)

(1,461)

Operating loss

 

(5,263)

(1,570)

Other interest receivable and similar income

 

6,616

-

Profit/(loss) before tax

1,353

(1,570)

Profit/(loss) for the financial year

 

1,353

(1,570)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Taynuilt Revisited Limited

Statement of Comprehensive Income for the Year Ended 31 October 2024

2024
£

2023
£

Profit/(loss) for the year

1,353

(1,570)

Total comprehensive income for the year

1,353

(1,570)

 

Taynuilt Revisited Limited

(Registration number: SC711024)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

340,000

340,000

Current assets

 

Debtors

4

378,759

908,534

Cash at bank and in hand

 

368,613

381,872

 

747,372

1,290,406

Creditors: Amounts falling due within one year

5

(1,089,213)

(1,633,600)

Net current liabilities

 

(341,841)

(343,194)

Net liabilities

 

(1,841)

(3,194)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(1,941)

(3,294)

Shareholders' deficit

 

(1,841)

(3,194)

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 10 April 2025 and signed on its behalf by:
 

.........................................
Mr Calum Maclachlainn
Director

 

Taynuilt Revisited Limited

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Retained earnings
£

Total
£

At 1 November 2023

100

(3,294)

(3,194)

Profit for the year

-

1,353

1,353

At 31 October 2024

100

(1,941)

(1,841)

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

100

(1,724)

(1,624)

Loss for the year

-

(1,570)

(1,570)

At 31 October 2023

100

(3,294)

(3,194)

 

Taynuilt Revisited Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land & buildings

in accordance with the property

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Taynuilt Revisited Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2023

340,000

340,000

At 31 October 2024

340,000

340,000

Depreciation

Carrying amount

At 31 October 2024

340,000

340,000

At 31 October 2023

340,000

340,000

Included within the net book value of land and buildings above is £340,000 (2023 - £340,000) in respect of freehold land and buildings.
 

4

Debtors

 

Taynuilt Revisited Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Note

2024
£

2023
£

Amounts owed by related parties

314,219

684,800

Other debtors

 

64,540

223,734

 

378,759

908,534

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

27,213

600

Other creditors

1,062,000

1,633,000

1,089,213

1,633,600

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100