Company Registration No. SC606826 (Scotland)
SHORT STAY ST ANDREWS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
James Hair Group Limited
59 Bonnygate
CUPAR
Fife
UK
KY15 4BY
SHORT STAY ST ANDREWS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
110,787
132,037
Current assets
Stocks
35,500
-
Debtors
4
49,122
280,893
Cash at bank and in hand
415,953
554,003
500,575
834,896
Creditors: amounts falling due within one year
5
(527,327)
(767,185)
Net current (liabilities)/assets
(26,752)
67,711
Total assets less current liabilities
84,035
199,748
Creditors: amounts falling due after more than one year
6
(61,156)
(74,469)
Provisions for liabilities
7
(20,426)
(24,463)
Net assets
2,453
100,816
Capital and reserves
Called up share capital
8
200
2
Profit and loss reserves
2,253
100,814
Total equity
2,453
100,816
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
SHORT STAY ST ANDREWS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 June 2025 and are signed on its behalf by:
Mr J L Mitchell
Director
Company Registration No. SC606826
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Short Stay St Andrews Limited is a private company limited by shares incorporated in Scotland. The registered office is 195 South Street, ST ANDREWS, Fife, KY16 9EE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
Due to commercial reasons the company's year end date was shortened to the 31 March 2025. The comparative amounts presented in the financial statements are therefore not entirely comparable.
1.3
Turnover
Turnover comprises the invoiced value of let property management services provided by the company, net of Value Added Tax and trade discounts.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Tenants improvements
Plant and equipment
25% straight line
Fixtures and fittings
25% straight line
Computers
33.33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks and work in progress including short term contracts are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks. Cost comprises direct expenditure and an appropriate proportion of fixed and variable overheads.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in the profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with charges recognised in profit and loss.
1.7
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts paid by the company to the funds in respect of the year.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2025
2024
Number
Number
Total
23
23
3
Tangible fixed assets
Tenants improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 September 2024
5,169
33,610
4,635
8,646
169,574
221,634
Additions
17,289
297
1,895
19,481
At 31 March 2025
5,169
50,899
4,635
8,943
171,469
241,115
Depreciation and impairment
At 1 September 2024
1,888
14,274
4,352
6,729
62,354
89,597
Depreciation charged in the period
11,998
281
1,173
27,279
40,731
At 31 March 2025
1,888
26,272
4,633
7,902
89,633
130,328
Carrying amount
At 31 March 2025
3,281
24,627
2
1,041
81,836
110,787
At 31 August 2024
3,281
19,336
283
1,917
107,220
132,037
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
25,187
249,518
Other debtors
21,844
29,284
Prepayments and accrued income
2,091
2,091
49,122
280,893
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
6,780
6,780
Obligations under finance leases (secured)
16,042
16,042
Trade creditors
20,502
55,832
Corporation tax
8,859
Other taxation and social security
70,321
139,464
Other creditors
380,301
517,208
Directors current accounts
942
-
Accruals and deferred income
32,439
23,000
527,327
767,185
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,130
5,085
Obligations under finance leases (secured)
60,026
69,384
61,156
74,469
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
20,426
24,463
8
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
100 (2024: 1) A Ordinary shares of £1 each
100
1
100 (2024: 1) B Ordinary shares of £1 each
100
1
200
2
SHORT STAY ST ANDREWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2025
- 7 -
9
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
30,000
37,000