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Registration number: SC612137

Ben Nevis Bar Trading Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Ben Nevis Bar Trading Company 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 13

 

Ben Nevis Bar Trading Company Limited

Company Information

Directors

Mr Calum Maclachlainn

Mr Guy Ashley Ward

Mr Neil Morrison

Mr Paul Sloan

Ms Lesley Anne Main

Registered office

1 The Pier
Oban
Argyll
PA34 4LW

Accountants

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

 

Ben Nevis Bar Trading Company 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 Neil Morrison

Mr Paul Sloan

The following directors were appointed after the year end:

Mr Guy Ashley Ward (appointed 15 November 2024)

Ms Lesley Anne Main (appointed 15 November 2024)

Principal activity

The principal activity of the company is operating Ben Nevis Bar in Fort William

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 8 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
Ben Nevis Bar Trading Company 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 Ben Nevis Bar Trading Company Limited for the year ended 31 October 2024 as set out on pages 4 to 13 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 Ben Nevis Bar Trading Company 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 Ben Nevis Bar Trading Company Limited and state those matters that we have agreed to state to the Board of Directors of Ben Nevis Bar Trading Company 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 Ben Nevis Bar Trading Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ben Nevis Bar Trading Company 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 Ben Nevis Bar Trading Company Limited. You consider that Ben Nevis Bar Trading Company 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 Ben Nevis Bar Trading Company 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

8 April 2025

 

Ben Nevis Bar Trading Company Limited

Profit and Loss Account for the Year Ended 31 October 2024

Note

2024
£

2023
£

Turnover

 

2,150,577

1,986,302

Cost of sales

 

(1,410,495)

(1,358,522)

Gross profit

 

740,082

627,780

Administrative expenses

 

(387,862)

(419,893)

Operating profit

 

352,220

207,887

Profit before tax

3

352,220

207,887

Tax on profit

 

(91,172)

(48,614)

Profit for the financial year

 

261,048

159,273

The above results were derived from continuing operations.

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

 

Ben Nevis Bar Trading Company Limited

Statement of Comprehensive Income for the Year Ended 31 October 2024

2024
£

2023
£

Profit for the year

261,048

159,273

Total comprehensive income for the year

261,048

159,273

 

Ben Nevis Bar Trading Company Limited

(Registration number: SC612137)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

81,770

97,237

Current assets

 

Debtors

5

377,593

370,869

Cash at bank and in hand

 

414,892

173,342

 

792,485

544,211

Creditors: Amounts falling due within one year

6

(144,691)

(147,661)

Net current assets

 

647,794

396,550

Total assets less current liabilities

 

729,564

493,787

Creditors: Amounts falling due after more than one year

6

(113,140)

(138,411)

Net assets

 

616,424

355,376

Capital and reserves

 

Called up share capital

7

30

30

Retained earnings

616,394

355,346

Shareholders' funds

 

616,424

355,376

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 8 April 2025 and signed on its behalf by:
 

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

 

Ben Nevis Bar Trading Company Limited

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

Share capital
£

Retained earnings
£

Total
£

At 1 November 2023

30

355,346

355,376

Profit for the year

-

261,048

261,048

At 31 October 2024

30

616,394

616,424

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

30

391,073

391,103

Profit for the year

-

159,273

159,273

Dividends

-

(195,000)

(195,000)

At 31 October 2023

30

355,346

355,376

 

Ben Nevis Bar Trading Company 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

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:

 

Ben Nevis Bar Trading Company Limited

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

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Short leasehold

10% cost basis

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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

Ben Nevis Bar Trading Company Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

3

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

15,467

16,847

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

99,500

59,256

158,756

At 31 October 2024

99,500

59,256

158,756

Depreciation

At 1 November 2023

29,850

31,669

61,519

Charge for the year

9,950

5,517

15,467

At 31 October 2024

39,800

37,186

76,986

Carrying amount

At 31 October 2024

59,700

22,070

81,770

At 31 October 2023

69,650

27,587

97,237

Included within the net book value of land and buildings above is £59,700 (2023 - £69,650) in respect of short leasehold land and buildings.
 

5

Debtors

 

Ben Nevis Bar Trading Company Limited

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

Current

2024
£

2023
£

Other debtors

377,593

370,869

 

377,593

370,869

 

Ben Nevis Bar Trading Company Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

102,265

110,864

Accruals and deferred income

2,500

-

Other creditors

39,926

36,797

144,691

147,661

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

113,140

138,411

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

30

30

30

30

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

113,140

138,411

9

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £6,500.00) per ordinary share

-

195,000

 

 
 

Ben Nevis Bar Trading Company Limited

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

10

Related party transactions

Summary of transactions with other related parties

Ben Nevis Bar Limited
 Unsecured inter-company loan
 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

322,083

322,083

At end of period

322,083

322,083

2023

Other related parties
£

Total
£

At start of period

127,083

127,083

Advanced

195,000

195,000

At end of period

322,083

322,083