Company Registration No. SC650483 (Scotland)
Merchant City Hotels Limited
Unaudited accounts
for the year ended 31 October 2024
Merchant City Hotels Limited
Unaudited accounts
Contents
Merchant City Hotels Limited
Company Information
for the year ended 31 October 2024
Directors
G I Russell
R G Arnott
R S Mullen
Company Number
SC650483 (Scotland)
Registered Office
46 Charlotte Square
EDINBURGH
EH2 4HQ
SCOTLAND
Accountants
Orry Consultancy Limited
11 Bonnyton Drive
Eaglesham
Glasgow
G76 0LT
Merchant City Hotels Limited
Statement of financial position
as at 31 October 2024
Tangible assets
408,345
440,377
Cash at bank and in hand
60,226
38,043
Creditors: amounts falling due within one year
(437,633)
(431,109)
Net current liabilities
(354,496)
(370,207)
Total assets less current liabilities
53,849
70,170
Creditors: amounts falling due after more than one year
(25,000)
(31,250)
Called up share capital
4
4
Profit and loss account
28,845
38,916
Shareholders' funds
28,849
38,920
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 July 2025 and were signed on its behalf by
G I Russell
Director
Company Registration No. SC650483
Merchant City Hotels Limited
Notes to the Accounts
for the year ended 31 October 2024
Merchant City Hotels Limited is a private company, limited by shares, registered in Scotland, registration number SC650483. The registered office is 46 Charlotte Square, EDINBURGH, EH2 4HQ, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Improvements - Straight Line 20 years
Fixtures & fittings
20 % Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Merchant City Hotels Limited
Notes to the Accounts
for the year ended 31 October 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 November 2023
477,274
99,889
577,163
At 31 October 2024
477,274
104,338
581,612
At 1 November 2023
95,456
41,330
136,786
Charge for the year
23,864
12,617
36,481
At 31 October 2024
119,320
53,947
173,267
At 31 October 2024
357,954
50,391
408,345
At 31 October 2023
381,818
58,559
440,377
Amounts falling due within one year
Accrued income and prepayments
2,082
1,960
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,250
6,250
Trade creditors
120,635
91,301
Amounts owed to group undertakings and other participating interests
183,573
222,804
Taxes and social security
19,352
13,838
Other creditors
25,622
15,533
7
Creditors: amounts falling due after more than one year
2024
2023
Merchant City Hotels Limited
Notes to the Accounts
for the year ended 31 October 2024
8
Average number of employees
During the year the average number of employees was 45 (2023: 45).