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Registration number: SC714547

Dunard Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Dunard Holdings Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 14

 

Dunard Holdings Limited

Company Information

Director

Mr Neil Morrison

Registered office

9 Erray Road
Tobermory
Isle of Mull
Argyll
PA75 6PS

Accountants

Jack MacDonald & Co Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

Dunard Holdings Limited

Director's Report for the Year Ended 30 November 2024

The director presents his report and the financial statements for the year ended 30 November 2024.

Director of the company

The director who held office during the year was as follows:

Mr Neil Morrison

Principal activity

The principal activity of the company is a holding company

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 20 July 2025
 

.........................................
Mr Neil Morrison
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Dunard Holdings Limited
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dunard Holdings Limited for the year ended 30 November 2024 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Dunard Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Dunard Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Dunard Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dunard Holdings Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Dunard Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Dunard Holdings Limited. You consider that Dunard Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Dunard Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

20 July 2025

 

Dunard Holdings Limited

Profit and Loss Account for the Year Ended 30 November 2024

Note

2024
£

2023
£

Turnover

 

75,000

65,000

Gross profit

 

75,000

65,000

Administrative expenses

 

-

(500)

Operating profit

 

75,000

64,500

Profit before tax

75,000

64,500

Profit for the financial year

 

75,000

64,500

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Dunard Holdings Limited

Statement of Comprehensive Income for the Year Ended 30 November 2024

2024
£

2023
£

Profit for the year

75,000

64,500

Total comprehensive income for the year

75,000

64,500

 

Dunard Holdings Limited

(Registration number: SC714547)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

3

671

571

Current assets

 

Debtors

4

915,930

900,930

Cash at bank and in hand

 

100

100

 

916,030

901,030

Creditors: Amounts falling due within one year

5

(1,771)

(1,671)

Net current assets

 

914,259

899,359

Total assets less current liabilities

 

914,930

899,930

Creditors: Amounts falling due after more than one year

5

(775,930)

(835,930)

Net assets

 

139,000

64,000

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

138,900

63,900

Shareholders' funds

 

139,000

64,000

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 20 July 2025
 

.........................................
Mr Neil Morrison
Director

 

Dunard Holdings Limited

Statement of Changes in Equity for the Year Ended 30 November 2024

Share capital
£

Retained earnings
£

Total
£

At 1 December 2023

100

63,900

64,000

Profit for the year

-

75,000

75,000

At 30 November 2024

100

138,900

139,000

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

100

(600)

(500)

Profit for the year

-

64,500

64,500

At 30 November 2023

100

63,900

64,000

 

Dunard Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Dunard Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

3

Investments

2024
£

2023
£

Investments in subsidiaries

601

501

Investments in associates

70

70

671

571

 

Dunard Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Subsidiaries

£

Cost or valuation

At 1 December 2023

501

Additions

100

At 30 November 2024

601

Provision

Carrying amount

At 30 November 2024

601

At 30 November 2023

501

Associates

£

Cost

At 1 December 2023

70

Provision

Carrying amount

At 30 November 2024

70

At 30 November 2023

70

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Benleva Hotel Trading Ltd

Benleva Hotel
Drumnadrochit
Inverness-shire IV63 6UH

Scotland

Ordinary

100%

100%

MacGochans Ltd

MacGochans, Ledaig
Tobermory, Isle of Mull
Argyll PA75 6NR

Scotland

Ordinary

100%

100%

 

Dunard Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

The Rocks Property Holdings Ltd

9 Erray Road, Tobermory
Isle of Mull
Argyll PA75 6PS

Scotland

Ordinary

100%

100%

Lochside Hotel Ltd

Lochside Hotel, 20 Shore Street
Bowmore, Isle of Islay
Argyll PA43 7LB

Scotland

Ordinary

100%

100%

Lochside Hotel Trading Ltd

Lochside Hotel, 20 Shore Street
Bowmore, Isle of Islay
AArgyll PA43 7LB

Scotland

Ordinary

100%

100%

Roslyn House Trading Ltd

5 Eas Brae Apartments
Tobermory, Isle of Mull
Argyll PA75 6QA

Scotland

Ordinary

100%

100%

Associates

Benleva Hotel Ltd

Benleva Hotel
Drumnadrochit
Inverness-shire IV63 6UH

Ordinary

50%

50%

Scotland

Ben Nevis Bar Trading Company Ltd

1 Railway Pier
Oban
Argyll PA34 4LW

Ordinary

33.3%

33.3%

Scotland

Ben Nevis Bar Ltd

1 The Pier
Oban
Argyll PA34 4LW

Ordinary

33.3%

33.3%

Scotland

Subsidiary undertakings

Benleva Hotel Trading Ltd

The principal activity of Benleva Hotel Trading Ltd is operating a hotel.

MacGochans Ltd

The principal activity of MacGochans Ltd is operating a public house.

 

Dunard Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

The Rocks Property Holdings Ltd

The principal activity of The Rocks Property Holdings Ltd is property ownership.

Lochside Hotel Ltd

The principal activity of Lochside Hotel Ltd is hotel ownership.

Lochside Hotel Trading Ltd

The principal activity of Lochside Hotel Trading Ltd is hotel operation.

Roslyn House Trading Ltd

The principal activity of Roslyn House Trading Ltd is operating a hotel.

Associates

Benleva Hotel Ltd

The principal activity of Benleva Hotel Ltd is hotel ownership.

Ben Nevis Bar Trading Company Ltd

The principal activity of Ben Nevis Bar Trading Company Ltd is operating a public house.

Ben Nevis Bar Ltd

The principal activity of Ben Nevis Bar Ltd is public house ownership.

4

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

7

915,930

900,930

   

915,930

900,930

 

Dunard Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,100

1,100

Other creditors

671

571

1,771

1,671

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other financial liabilities

775,930

835,930

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Related party transactions

Summary of transactions with subsidiaries

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

900,930

900,930

Advanced

75,000

75,000

At end of period

975,930

975,930

 

Dunard Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2023

Subsidiary
£

Total
£

Advanced

900,930

900,930

At end of period

900,930

900,930

Loans from related parties

2024

Subsidiary
£

Total
£

At start of period

835,930

835,930

Repaid

(60,000)

(60,000)

At end of period

775,930

775,930

2023

Subsidiary
£

Total
£

Advanced

835,930

835,930

At end of period

835,930

835,930