PTP Accounts Production v25.1.0.734 SC224148 director 30.6.23 29.6.24 29.6.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2241482023-06-29SC2241482024-06-29SC2241482023-06-302024-06-29SC2241482022-06-29SC2241482022-06-302023-06-29SC2241482023-06-29SC224148ns15:Scotland2023-06-302024-06-29SC224148ns14:PoundSterling2023-06-302024-06-29SC224148ns10:Director12023-06-302024-06-29SC224148ns10:PrivateLimitedCompanyLtd2023-06-302024-06-29SC224148ns10:SmallEntities2023-06-302024-06-29SC224148ns10:AuditExempt-NoAccountantsReport2023-06-302024-06-29SC224148ns10:SmallCompaniesRegimeForDirectorsReport2023-06-302024-06-29SC224148ns10:SmallCompaniesRegimeForAccounts2023-06-302024-06-29SC224148ns10:FullAccounts2023-06-302024-06-29SC224148ns10:CompanySecretary12023-06-302024-06-29SC224148ns10:RegisteredOffice2023-06-302024-06-29SC224148ns5:CurrentFinancialInstruments2024-06-29SC224148ns5:CurrentFinancialInstruments2023-06-29SC224148ns5:Non-currentFinancialInstruments2024-06-29SC224148ns5:Non-currentFinancialInstruments2023-06-29SC224148ns5:ShareCapital2024-06-29SC224148ns5:ShareCapital2023-06-29SC224148ns5:RevaluationReserve2024-06-29SC224148ns5:RevaluationReserve2023-06-29SC224148ns5:RetainedEarningsAccumulatedLosses2024-06-29SC224148ns5:RetainedEarningsAccumulatedLosses2023-06-29SC224148ns5:LandBuildings2023-06-302024-06-29SC224148ns5:PlantMachinery2023-06-302024-06-29SC224148ns5:LandBuildings2023-06-29SC224148ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-29SC224148ns5:PlantMachinery2023-06-29SC224148ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-302024-06-29SC224148ns5:LandBuildings2024-06-29SC224148ns5:LandBuildingsns5:ShortLeaseholdAssets2024-06-29SC224148ns5:PlantMachinery2024-06-29SC224148ns5:LandBuildings2023-06-29SC224148ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-29SC224148ns5:PlantMachinery2023-06-29SC224148ns5:FurnitureFittings2023-06-29SC224148ns5:MotorVehicles2023-06-29SC224148ns5:FurnitureFittings2023-06-302024-06-29SC224148ns5:MotorVehicles2023-06-302024-06-29SC224148ns5:FurnitureFittings2024-06-29SC224148ns5:MotorVehicles2024-06-29SC224148ns5:FurnitureFittings2023-06-29SC224148ns5:MotorVehicles2023-06-29SC224148ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-29SC224148ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-29SC224148ns5:LeasedAssetsHeldAsLessee2023-06-29SC224148ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-302024-06-29SC224148ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-302024-06-29SC224148ns5:LeasedAssetsHeldAsLessee2023-06-302024-06-29SC224148ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-06-29SC224148ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-06-29SC224148ns5:LeasedAssetsHeldAsLessee2024-06-29SC224148ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-29SC224148ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-29SC224148ns5:LeasedAssetsHeldAsLessee2023-06-29SC224148ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-29SC224148ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-29SC224148ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-06-29SC224148ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-29SC224148ns5:RevaluationReserve2023-06-29
REGISTERED NUMBER: SC224148 (Scotland)















Unaudited Financial Statements For The Year Ended 29 June 2024

for

Innseagan House Hotel Limited

Innseagan House Hotel Limited (Registered number: SC224148)






Contents of the Financial Statements
For The Year Ended 29 June 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Innseagan House Hotel Limited

Company Information
For The Year Ended 29 June 2024







Director: D J Parker





Secretary: Mrs J E Parker





Registered office: c/o Portsonachan Hotel
South Loch Awe Side
Dalmally
PA33 1BJ





Registered number: SC224148 (Scotland)





Accountants: SMD Accounts LLP
Chartered Certified Accountants
The Vineyards
Knox Lane, Bardwell
Bury St Edmunds
Suffolk
IP31 1AX

Innseagan House Hotel Limited (Registered number: SC224148)

Balance Sheet
29 June 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 851,391 792,923
Investments 5 51,992 -
903,383 792,923

Current assets
Stocks 15,000 15,000
Debtors 6 600,145 762,889
Cash at bank 6,359 3,679
621,504 781,568
Creditors: amounts falling due within one
year

7

1,412,549

1,337,994
Net current liabilities (791,045 ) (556,426 )
Total assets less current liabilities 112,338 236,497

Creditors: amounts falling due after more
than one year

8

463,830

446,778
Net liabilities (351,492 ) (210,281 )

Capital and reserves
Called up share capital 100 100
Revaluation reserve 9 330,000 330,000
Retained earnings (681,592 ) (540,381 )
(351,492 ) (210,281 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Innseagan House Hotel Limited (Registered number: SC224148)

Balance Sheet - continued
29 June 2024


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 director and authorised for issue on 17 June 2025 and were signed by:





D J Parker - Director


Innseagan House Hotel Limited (Registered number: SC224148)

Notes to the Financial Statements
For The Year Ended 29 June 2024

1. Statutory information

Innseagan House Hotel Limited 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.

Going Concern

These accounts have been prepared on a going concern basis -the company made a loss in the year and had a negative balance sheet as at 29 June 2024. The company is dependent on the ongoing financial support of its director, holding company and external lenders. The director is confident that this support will continue for the foreseeable future and the going concern basis is appropriate for the preparation of these accounts.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 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.

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.

Innseagan House Hotel Limited (Registered number: SC224148)

Notes to the Financial Statements - continued
For The Year Ended 29 June 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.

Single purpose vouchers
The company issues its own vouchers to customers - these are single purpose vouchers and are for short breaks at the hotel operated by the company. Revenue from the vouchers sold is recognised when provision of the hotel services is complete. Vouchers that are in existence but are unused and within date at the balance sheet date are accounted for as a current liability.

3. Employees and directors

The average number of employees during the year was 30 (2023 - 32 ) .

4. Tangible fixed assets
Freehold Short Plant and
property leasehold machinery
£    £    £   
Cost
At 30 June 2023 700,000 - 221,069
Additions - 67,020 35,189
Reclassification/transfer - - (78,631 )
At 29 June 2024 700,000 67,020 177,627
Depreciation
At 30 June 2023 - - 149,014
Charge for year - 6,702 29,160
Reclassification/transfer - - (78,632 )
At 29 June 2024 - 6,702 99,542
Net book value
At 29 June 2024 700,000 60,318 78,085
At 29 June 2023 700,000 - 72,055

Innseagan House Hotel Limited (Registered number: SC224148)

Notes to the Financial Statements - continued
For The Year Ended 29 June 2024

4. Tangible fixed assets - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 30 June 2023 49,487 26,408 996,964
Additions - - 102,209
Reclassification/transfer - (12,807 ) (91,438 )
At 29 June 2024 49,487 13,601 1,007,735
Depreciation
At 30 June 2023 32,170 22,857 204,041
Charge for year 4,329 3,551 43,742
Reclassification/transfer - (12,807 ) (91,439 )
At 29 June 2024 36,499 13,601 156,344
Net book value
At 29 June 2024 12,988 - 851,391
At 29 June 2023 17,317 3,551 792,923

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
Cost
At 30 June 2023 51,232 26,408 77,640
Additions 13,386 - 13,386
Reclassification/transfer (7,356 ) (12,807 ) (20,163 )
At 29 June 2024 57,262 13,601 70,863
Depreciation
At 30 June 2023 37,146 22,857 60,003
Charge for year 7,848 3,551 11,399
Reclassification/transfer 245 (12,807 ) (12,562 )
At 29 June 2024 45,239 13,601 58,840
Net book value
At 29 June 2024 12,023 - 12,023
At 29 June 2023 14,086 3,551 17,637

5. Fixed asset investments

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Vintage car 51,992 -

Innseagan House Hotel Limited (Registered number: SC224148)

Notes to the Financial Statements - continued
For The Year Ended 29 June 2024

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Amounts owed by group undertakings 507,654 634,788
Other debtors 92,491 128,101
600,145 762,889

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 174,458 114,436
Hire purchase contracts 27,905 2,343
Vouchers - unredeemed 574,561 413,375
Trade creditors 185,675 267,123
Amounts owed to group undertakings 93,289 93,289
Taxation and social security 266,237 264,596
Other creditors 90,424 182,832
1,412,549 1,337,994

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 431,063 446,778
Hire purchase contracts 32,767 -
463,830 446,778

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 312,049 278,243

Repayable by instalments
Bank loans more 5 yr by instal - 113,535

9. Reserves
Revaluation
reserve
£   
At 30 June 2023
and 29 June 2024 330,000