Caseware UK (AP4) 2023.0.135 2023.0.135 false2023-11-01The principal actvity of the company is that of other accommodation1515truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC090697 2023-11-01 2024-10-31 SC090697 2022-11-01 2023-10-31 SC090697 2024-10-31 SC090697 2023-10-31 SC090697 2022-11-01 SC090697 c:Director3 2023-11-01 2024-10-31 SC090697 d:Buildings 2023-11-01 2024-10-31 SC090697 d:Buildings 2024-10-31 SC090697 d:Buildings 2023-10-31 SC090697 d:Buildings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC090697 d:PlantMachinery 2023-11-01 2024-10-31 SC090697 d:PlantMachinery 2024-10-31 SC090697 d:PlantMachinery 2023-10-31 SC090697 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC090697 d:MotorVehicles 2023-11-01 2024-10-31 SC090697 d:MotorVehicles 2024-10-31 SC090697 d:MotorVehicles 2023-10-31 SC090697 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC090697 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 SC090697 d:CurrentFinancialInstruments 2024-10-31 SC090697 d:CurrentFinancialInstruments 2023-10-31 SC090697 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 SC090697 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC090697 d:ShareCapital 2023-11-01 2024-10-31 SC090697 d:ShareCapital 2024-10-31 SC090697 d:ShareCapital 2022-11-01 2023-10-31 SC090697 d:ShareCapital 2023-10-31 SC090697 d:ShareCapital 2022-11-01 SC090697 d:SharePremium 2023-11-01 2024-10-31 SC090697 d:SharePremium 2024-10-31 SC090697 d:SharePremium 2022-11-01 2023-10-31 SC090697 d:SharePremium 2023-10-31 SC090697 d:SharePremium 2022-11-01 SC090697 d:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 SC090697 d:RetainedEarningsAccumulatedLosses 2024-10-31 SC090697 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 SC090697 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC090697 d:RetainedEarningsAccumulatedLosses 2022-11-01 SC090697 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-10-31 SC090697 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-10-31 SC090697 c:OrdinaryShareClass1 2023-11-01 2024-10-31 SC090697 c:OrdinaryShareClass1 2024-10-31 SC090697 c:OrdinaryShareClass1 2023-10-31 SC090697 c:OrdinaryShareClass2 2023-11-01 2024-10-31 SC090697 c:OrdinaryShareClass2 2024-10-31 SC090697 c:OrdinaryShareClass2 2023-10-31 SC090697 c:FRS102 2023-11-01 2024-10-31 SC090697 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 SC090697 c:FullAccounts 2023-11-01 2024-10-31 SC090697 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC090697 2 2023-11-01 2024-10-31 SC090697 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 SC090697 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 SC090697 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: SC090697









CASTLE SWEEN BAY (HOLIDAYS) LIMITED







Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended October 31, 2024

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
Registered number: SC090697

Balance sheet
As at October 31, 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,793,383
209,561

  
4,793,383
209,561

Current assets
  

Stocks
  
486,294
500,815

Debtors: amounts falling due within one year
 5 
241,721
49,630

Cash at bank and in hand
  
499,073
814,593

  
1,227,088
1,365,038

Creditors: amounts falling due within one year
 6 
(516,320)
(430,523)

Net current assets
  
 
 
710,768
 
 
934,515

Total assets less current liabilities
  
5,504,151
1,144,076

Provisions for liabilities
  

Deferred tax
 8 
(2,459)
(3,595)

  
 
 
(2,459)
 
 
(3,595)

Net assets
  
5,501,692
1,140,481


Capital and reserves
  

Called up share capital 
  
36,000
8,400

Share premium account
  
4,572,400
-

Profit and loss account
  
893,292
1,132,081

  
5,501,692
1,140,481


Page 1

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
Registered number: SC090697
    
Balance sheet (continued)
As at October 31, 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on April 21, 2025.



DH Rogers
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 

Statement of changes in equity
For the Year Ended October 31, 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At November 1, 2022
8,400
-
1,066,331
1,074,731


Comprehensive income for the year

Profit for the year
-
-
485,750
485,750
Total comprehensive income for the year
-
-
485,750
485,750


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(420,000)
(420,000)


Total transactions with owners
-
-
(420,000)
(420,000)



At November 1, 2023
8,400
-
1,132,081
1,140,481


Comprehensive income for the year

Profit for the year
-
-
391,211
391,211
Total comprehensive income for the year
-
-
391,211
391,211


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(630,000)
(630,000)

Shares issued during the year
27,600
4,572,400
-
4,600,000


Total transactions with owners
27,600
4,572,400
(630,000)
3,970,000


At October 31, 2024
36,000
4,572,400
893,292
5,501,692


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

1.


General information

The company is a private company limited by share capital incorporated in Scotland.
The address of its registered office and principal place of business is:
Ellary, Achahoish, Lochgilphead, Argyll, PA31 8PA.
The principal activity of the company is that of other accommodation.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
5% straight line per annum
Plant & machinery
-
25% straight line per annum
Motor vehicles
-
25% straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to
Page 6

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Page 7

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

2.Accounting policies (continued)


2.11
Financial instruments (continued)


Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







15
15

Page 8

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

4.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost


At 1 November 2023
263,113
337,747
38,996
639,856


Additions
4,600,000
32,858
-
4,632,858


Disposals
-
(24,500)
-
(24,500)



At October 31, 2024

4,863,113
346,105
38,996
5,248,214



Depreciation


At 1 November 2023
103,582
303,464
23,248
430,294


Charge for the year on owned assets
9,496
29,792
9,749
49,037


Disposals
-
(24,500)
-
(24,500)



At October 31, 2024

113,078
308,756
32,997
454,831



Net book value



At October 31, 2024
4,750,035
37,349
5,999
4,793,383



At October 31, 2023
159,531
34,282
15,748
209,561


5.


Debtors

2024
2023
£
£


Trade debtors
233,767
49,630

Prepayments and accrued income
7,954
-

241,721
49,630


Page 9

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
110,717
32,033

Corporation tax
134,029
148,148

Other taxation and social security
8,550
9,401

Other creditors
100,000
100,000

Accruals and deferred income
163,024
140,941

516,320
430,523



7.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
499,073
814,593




8.


Deferred taxation




2024


£






At beginning of year
(3,595)


Charged to profit or loss
1,136



At end of year
(2,459)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(2,459)
(3,595)

(2,459)
(3,595)


9.


Share capital

2024
2023
Page 10

 
CASTLE SWEEN BAY (HOLIDAYS) LIMITED
 
 
 
Notes to the financial statements
For the Year Ended October 31, 2024

9.Share capital (continued)

£
£
Allotted, called up and fully paid



200 (2023 - 200) Ordinary A shares of £1.00 each
200
200
35,800 (2023 - 8,200) Ordinary B shares of £1.00 each
35,800
8,200

36,000

8,400


During the year, 27,600 £1 B Ordinary shares were allotted for aggregate consideration of £166.67 per share.

Page 11