IRIS Accounts Production v25.1.0.734 SC487540 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4875402023-07-31SC4875402024-07-31SC4875402023-08-012024-07-31SC4875402022-07-31SC4875402022-08-012023-07-31SC4875402023-07-31SC487540ns15:Scotland2023-08-012024-07-31SC487540ns14:PoundSterling2023-08-012024-07-31SC487540ns10:Director12023-08-012024-07-31SC487540ns10:PrivateLimitedCompanyLtd2023-08-012024-07-31SC487540ns10:SmallEntities2023-08-012024-07-31SC487540ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-31SC487540ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31SC487540ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31SC487540ns10:AbridgedAccounts2023-08-012024-07-31SC487540ns10:Director22023-08-012024-07-31SC487540ns10:RegisteredOffice2023-08-012024-07-31SC487540ns5:CurrentFinancialInstruments2024-07-31SC487540ns5:CurrentFinancialInstruments2023-07-31SC487540ns5:Non-currentFinancialInstruments2024-07-31SC487540ns5:Non-currentFinancialInstruments2023-07-31SC487540ns5:ShareCapital2024-07-31SC487540ns5:ShareCapital2023-07-31SC487540ns5:RetainedEarningsAccumulatedLosses2024-07-31SC487540ns5:RetainedEarningsAccumulatedLosses2023-07-31SC487540ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-08-012024-07-31SC487540ns5:PlantMachinery2023-08-012024-07-31SC487540ns5:FurnitureFittings2023-08-012024-07-31SC487540ns5:MotorVehicles2023-08-012024-07-31SC487540ns5:ComputerEquipment2023-08-012024-07-31SC487540ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2024-07-31SC487540ns5:WithinOneYearns5:CurrentFinancialInstrumentsns5:HirePurchaseContracts2023-07-31SC487540ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-07-31SC487540ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-07-31SC487540ns5:HirePurchaseContracts2024-07-31SC487540ns5:HirePurchaseContracts2023-07-31SC487540ns5:WithinOneYear2024-07-31SC487540ns5:WithinOneYear2023-07-31SC487540ns5:BetweenOneFiveYears2024-07-31SC487540ns5:BetweenOneFiveYears2023-07-31SC487540ns5:AllPeriods2024-07-31SC487540ns5:AllPeriods2023-07-31
REGISTERED NUMBER: SC487540 (Scotland)















Financial Statements For The Year Ended 31 July 2024

for

Monachyle Mhor Hotel Ltd

Monachyle Mhor Hotel Ltd (Registered number: SC487540)






Contents of the Financial Statements
For The Year Ended 31 July 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Monachyle Mhor Hotel Ltd

Company Information
For The Year Ended 31 July 2024







DIRECTORS: O D Lewis
T O Lewis





REGISTERED OFFICE: Balquhidder
Lochearnhead
Perthshire
FK19 8PQ





REGISTERED NUMBER: SC487540 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Monachyle Mhor Hotel Ltd (Registered number: SC487540)

Abridged Statement of Financial Position
31 July 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,768,571 1,835,535

CURRENT ASSETS
Stocks 30,000 30,000
Debtors 205,978 266,806
Cash at bank and in hand 16,263 19,242
252,241 316,048
CREDITORS
Amounts falling due within one year 643,425 705,101
NET CURRENT LIABILITIES (391,184 ) (389,053 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,377,387

1,446,482

CREDITORS
Amounts falling due after more than one
year

5

(942,573

)

(971,252

)

PROVISIONS FOR LIABILITIES (142,448 ) (140,818 )
NET ASSETS 292,366 334,412

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 292,266 334,312
SHAREHOLDERS' FUNDS 292,366 334,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Monachyle Mhor Hotel Ltd (Registered number: SC487540)

Abridged Statement of Financial Position - continued
31 July 2024


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

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:





T O Lewis - Director


Monachyle Mhor Hotel Ltd (Registered number: SC487540)

Notes to the Financial Statements
For The Year Ended 31 July 2024

1. STATUTORY INFORMATION

Monachyle Mhor Hotel Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Fixed plant and equipment - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Monachyle Mhor Hotel Ltd (Registered number: SC487540)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2023 2,317,086
Additions 13,828
Disposals (17,704 )
At 31 July 2024 2,313,210
DEPRECIATION
At 1 August 2023 481,551
Charge for year 78,870
Eliminated on disposal (15,782 )
At 31 July 2024 544,639
NET BOOK VALUE
At 31 July 2024 1,768,571
At 31 July 2023 1,835,535

Monachyle Mhor Hotel Ltd (Registered number: SC487540)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 August 2023
and 31 July 2024 52,995
DEPRECIATION
At 1 August 2023 14,905
Charge for year 9,523
At 31 July 2024 24,428
NET BOOK VALUE
At 31 July 2024 28,567
At 31 July 2023 38,090

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 years 809,357 838,378

6. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 6,599 6,599
Between one and five years 12,648 19,247
19,247 25,846

Non-cancellable operating leases
2024 2023
£    £   
Within one year 4,442 5,420
Between one and five years 11,106 4,065
15,548 9,485

Monachyle Mhor Hotel Ltd (Registered number: SC487540)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2024

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 929,100 975,852

Cumberland Building Society hold a standard security over the property of the company and a floating charge over the company's assets.