Silverfin false false 31/08/2024 01/09/2023 31/08/2024 Elizabeth Sime 01/09/1999 15 May 2025 The principal activity of the company in the year under review was the letting of furnished cottages. SC199448 2024-08-31 SC199448 bus:Director1 2024-08-31 SC199448 2023-08-31 SC199448 core:CurrentFinancialInstruments 2024-08-31 SC199448 core:CurrentFinancialInstruments 2023-08-31 SC199448 core:ShareCapital 2024-08-31 SC199448 core:ShareCapital 2023-08-31 SC199448 core:RetainedEarningsAccumulatedLosses 2024-08-31 SC199448 core:RetainedEarningsAccumulatedLosses 2023-08-31 SC199448 core:OtherPropertyPlantEquipment 2023-08-31 SC199448 core:OtherPropertyPlantEquipment 2024-08-31 SC199448 bus:OrdinaryShareClass1 2024-08-31 SC199448 2023-09-01 2024-08-31 SC199448 bus:FilletedAccounts 2023-09-01 2024-08-31 SC199448 bus:SmallEntities 2023-09-01 2024-08-31 SC199448 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 SC199448 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 SC199448 bus:Director1 2023-09-01 2024-08-31 SC199448 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-09-01 2024-08-31 SC199448 2022-09-01 2023-08-31 SC199448 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 SC199448 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC199448 (Scotland)

COUNTRY COURTYARD COTTAGES LTD

Unaudited Financial Statements
For the financial year ended 31 August 2024
Pages for filing with the registrar

COUNTRY COURTYARD COTTAGES LTD

Unaudited Financial Statements

For the financial year ended 31 August 2024

Contents

COUNTRY COURTYARD COTTAGES LTD

COMPANY INFORMATION

For the financial year ended 31 August 2024
COUNTRY COURTYARD COTTAGES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 August 2024
DIRECTOR Elizabeth Sime
SECRETARY Elizabeth Sime
REGISTERED OFFICE Bellsbank Farm
Ayr
Ayrshire
KA6 5JP
United Kingdom
COMPANY NUMBER SC199448 (Scotland)
ACCOUNTANT Dains
Ellersley House
30 Miller Road
Ayr
KA7 2AY
BANKERS Virgin Money
43 Alloway Street
Ayr
KA7 1SP
Ayrshire
SOLICITORS D W Shaw
Solicitors
67 Glaisnock Street
Cumnock
KA18 1BT
Ayrshire
COUNTRY COURTYARD COTTAGES LTD

BALANCE SHEET

As at 31 August 2024
COUNTRY COURTYARD COTTAGES LTD

BALANCE SHEET (continued)

As at 31 August 2024
Note 2024 2023
£ £
Fixed assets
Investment property 5 185,900 185,900
185,900 185,900
Current assets
Debtors 6 0 1,635
Cash at bank and in hand 7 86,076 65,706
86,076 67,341
Creditors: amounts falling due within one year 8 ( 79,441) ( 75,754)
Net current assets/(liabilities) 6,635 (8,413)
Total assets less current liabilities 192,535 177,487
Net assets 192,535 177,487
Capital and reserves
Called-up share capital 9 2 2
Profit and loss account 192,533 177,485
Total shareholder's funds 192,535 177,487

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Country Courtyard Cottages Ltd (registered number: SC199448) were approved and authorised for issue by the Director on 15 May 2025. They were signed on its behalf by:

Elizabeth Sime
Director
COUNTRY COURTYARD COTTAGES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
COUNTRY COURTYARD COTTAGES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 August 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Country Courtyard Cottages Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Bellsbank Farm, Ayr, Ayrshire, KA6 5JP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from property rental is recognised in the corresponding rental period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 years straight line
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, which are described in note 1, the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the financial year in which the estimate is revised if the revision affects only that financial year, or in the financial year of the revision and future financial years if the revision affects both current and future financial years.

The director does not consider that any critical judgements have been made in the application of the Company's accounting policies and no key sources of estimation uncertainty have been identified that have a significant risk of causing a material misstatement to the carrying amount of assets and liabilities within the financial year.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 September 2023 13,007 13,007
At 31 August 2024 13,007 13,007
Accumulated depreciation
At 01 September 2023 13,007 13,007
At 31 August 2024 13,007 13,007
Net book value
At 31 August 2024 0 0
At 31 August 2023 0 0

5. Investment property

Investment property
£
Valuation
As at 01 September 2023 185,900
As at 31 August 2024 185,900

Investment property comprises cottages held for holiday rentals. The original cost of the properties was deemed to be equivalent to its fair value on transition to FRS 102, and the director is satisfied that this remains the case, having reference to the market values of similar local properties.

6. Debtors

2024 2023
£ £
Other debtors 0 1,635

7. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 86,076 65,706

8. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 3,530 70
Other creditors 75,911 75,684
79,441 75,754

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

10. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Owed to the director 73,783 73,783

This loan does not bear interest and is repayable on demand.