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REGISTERED NUMBER: SC639007 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SHOREGATE HOSPITALITY LTD

SHOREGATE HOSPITALITY LTD (REGISTERED NUMBER: SC639007)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SHOREGATE HOSPITALITY LTD

COMPANY INFORMATION
for the Year Ended 31 August 2024







DIRECTORS: D B Reynolds
D C Fussell
C W McAllister





REGISTERED OFFICE: 2 Shoregate
Crail
Anstruther
KY10 3ST





REGISTERED NUMBER: SC639007 (Scotland)





ACCOUNTANTS: KNIGHT WHEELER LIMITED
Chartered Accountants
54 Sun Street
Waltham Abbey
Essex
EN9 1EJ

SHOREGATE HOSPITALITY LTD (REGISTERED NUMBER: SC639007)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 151,798 178,400

CURRENT ASSETS
Cash at bank and in hand 95,817 56,070

CREDITORS
Amounts falling due within one year 5 (522,520 ) (452,082 )
NET CURRENT LIABILITIES (426,703 ) (396,012 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(274,905

)

(217,612

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (275,005 ) (217,712 )
(274,905 ) (217,612 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2025 and were signed on its behalf by:





D B Reynolds - Director


SHOREGATE HOSPITALITY LTD (REGISTERED NUMBER: SC639007)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Shoregate Hospitality 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 statement is the Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.

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

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.
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses

SHOREGATE HOSPITALITY LTD (REGISTERED NUMBER: SC639007)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Going concern
The Company Director to whom the company owes the sum within creditors at the balance sheet date has given an undertaking that he will not seek to pursue the liability within 12 months of the date of approval of the 2024 financial statements to an extent that would prevent the company continuing as a going concern.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and any short term deposits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 September 2023 82,260 161,785 244,045
Additions 2,063 14,668 16,731
At 31 August 2024 84,323 176,453 260,776
DEPRECIATION
At 1 September 2023 28,487 37,158 65,645
Charge for year 16,865 26,468 43,333
At 31 August 2024 45,352 63,626 108,978
NET BOOK VALUE
At 31 August 2024 38,971 112,827 151,798
At 31 August 2023 53,773 124,627 178,400

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to participating interests - 6,000
Social security and other taxes 8,432 6,539
VAT 28,612 13,144
Directors' loan accounts 483,900 424,900
Accrued expenses 1,576 1,499
522,520 452,082