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REGISTERED NUMBER: SC331657 (Scotland)















Financial Statements for the Year Ended 31 December 2024

for

John O'Groats Leisure Ltd.

John O'Groats Leisure Ltd. (Registered number: SC331657)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


John O'Groats Leisure Ltd.

Company Information
for the Year Ended 31 December 2024







DIRECTORS: W D Mowat
A W Mowat





SECRETARY: A W Mowat





REGISTERED OFFICE: Thorvald
East End
John O'Groats
Caithness
KW1 4YS





REGISTERED NUMBER: SC331657 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

John O'Groats Leisure Ltd. (Registered number: SC331657)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 377,369 52,718
Investments 6 4,452 4,452
Investment property 7 1,570,000 1,570,000
1,951,821 1,627,170

CURRENT ASSETS
Stocks 11,742 5,525
Debtors 8 24,415 28,441
Investments 9 118,466 112,286
Cash at bank and in hand 406,460 544,270
561,083 690,522
CREDITORS
Amounts falling due within one year 10 (99,077 ) (87,394 )
NET CURRENT ASSETS 462,006 603,128
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,413,827

2,230,298

CREDITORS
Amounts falling due after more than one
year

11

(241,852

)

(145,075

)

PROVISIONS FOR LIABILITIES 13 (21,089 ) (81,615 )

ACCRUALS AND DEFERRED INCOME (212,195 ) (205,312 )
NET ASSETS 1,938,691 1,798,296

John O'Groats Leisure Ltd. (Registered number: SC331657)

Balance Sheet - continued
31 December 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,938,591 1,798,196
SHAREHOLDERS' FUNDS 1,938,691 1,798,296

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 6 June 2025 and were signed on its behalf by:





A W Mowat - Director


John O'Groats Leisure Ltd. (Registered number: SC331657)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

John O'Groats Leisure 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.

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 as modified by the revaluation of certain assets.

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

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of fifteen years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs have been fully amortised in the current year.

TANGIBLE FIXED ASSETS
Tangible fixed assets are stated at cost or valuation less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Land and buildingsNIL
Plant and machinery etc25% reducing balance and 15% reducing balance

No depreciation is provided on land and buildings. It is the company's policy to maintain the property in such a condition that the value is not impaired by the passage of time. As a consequence, any element of depreciation would, in the opinion of the directors, be immaterial.

INVESTMENT PROPERTY
Investment properties, which are properties held to earn rental income, are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose value can be measured reliably are measured at fair value by the directors. The surplus or deficit on a fair value adjustment is recognised in the Income Statement in the year. As the fair value adjustment is not a distributable profit, this is transferred to the fair value reserve. Deferred tax is provided on fair value gains at the rate expected to apply when the property is sold and this provision is included within the fair value reserve.

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


John O'Groats Leisure Ltd. (Registered number: SC331657)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

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

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.

GOVERNMENT GRANTS
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by annual instalments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024 85,000
Disposals (85,000 )
At 31 December 2024 -
AMORTISATION
At 1 January 2024 85,000
Eliminated on disposal (85,000 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

John O'Groats Leisure Ltd. (Registered number: SC331657)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2024 - 50,775 31,282 82,057
Additions 256,556 98,246 - 354,802
Disposals - (8,930 ) - (8,930 )
At 31 December 2024 256,556 140,091 31,282 427,929
DEPRECIATION
At 1 January 2024 - 8,602 20,737 29,339
Charge for year - 19,925 2,635 22,560
Eliminated on disposal - (1,339 ) - (1,339 )
At 31 December 2024 - 27,188 23,372 50,560
NET BOOK VALUE
At 31 December 2024 256,556 112,903 7,910 377,369
At 31 December 2023 - 42,173 10,545 52,718

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 4,452
NET BOOK VALUE
At 31 December 2024 4,452
At 31 December 2023 4,452

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 1,570,000
NET BOOK VALUE
At 31 December 2024 1,570,000
At 31 December 2023 1,570,000

The investment properties have been valued during the period to reflect the directors' estimate of open market value as at the accounting period end.

John O'Groats Leisure Ltd. (Registered number: SC331657)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

7. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2017 45,445
Valuation in 2021 261,177
Valuation in 2023 (270,135 )
Cost 1,533,513
1,570,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 172,581,916 172,581,916
Aggregate depreciation (192,306 ) (192,306 )

8. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 1,517 5,543

Amounts falling due after more than one year:
Other debtors 22,898 22,898

Aggregate amounts 24,415 28,441

9. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 118,466 112,286

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 17,222 17,222
Trade creditors 6,843 8,069
Other creditors 75,012 62,103
99,077 87,394

Other creditors include the sum of £53,501 (2023 - £32,280) in respect of taxation and social security.

John O'Groats Leisure Ltd. (Registered number: SC331657)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 51,666 68,889
Other creditors 190,186 76,186
241,852 145,075

Other creditors includes the sum of £190,186 (2023 - £76,186) in respect of the balance due to an associated undertaking.

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 68,888 86,111

The debts are secured under a bond and floating charge and standard security over company property.

13. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 21,089 81,615

Deferred
tax
£   
Balance at 1 January 2024 81,615
Unused amounts reversed during year (60,526 )
Balance at 31 December 2024 21,089