Portree Property Management Ltd is a private company limited by shares incorporated in Scotland. The registered office is Clydesdale Bank Building, Somerled Square, Portree, Isle of Skye, IV51 9EH.
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 £.
At the balance sheet date, the company had net liabilities, however the director has confirmed that they will continue to provide financial assistance until such times that the financial position of the company improves. They therefore believe it is appropriate to prepare the financial statements on a going concern basis.
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.
The average monthly number of persons (including directors) employed by the company during the year was:
The fair value of the investment property has been arrived at based on the market value at date of purchase. The directors consider this value to be accurate at the year end. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Together Commercial Finance Ltd hold one fixed charge over 3A Portree Industrial Estate, Portree registered in the Land Register of Scotland under title number INV13388.
Together Commercial Finance Ltd also hold one floating charge which covers all property or undertaking of the company.
The following transactions occurred with companies in which Hannah Dickson and/or close family members hold a controlling interest:
Income
Management charges:
Skye Hotels Ltd £52,000 (2023: £13,000)
Caledonian Skye Ltd £nil (2023: £71,000)
Greshornish House Ltd £nil (2023: £4,000)
Rental income:
Campbell Dickson £7,434 (2023: £nil)
Alexandra Dickson £1,000 (2023: £1,946)
Kedrah Trading Ltd £825 (2023: £5,370)
Caledonian Skye Ltd £nil (2023: £351,512)
Skye Linen Ltd £nil (2023: £33,867)
Sithean Beag Ltd £nil (2023: £9,755)
Skye Hotels Ltd £nil (2023: £4,885)
Puddle Duck Properties Ltd £nil (2023: £2,000)
Other:
Bunillidh Ltd £37,757 (£2023: £nil)
Expenses
Rental costs:
Puddle Duck Properties Ltd £99,805 (2023: £2,000)
Bunillidh Ltd £nil (2023: £26,200)
Greshornish House Ltd £nil (2023: £5,000)
At the balance sheet date, the following amounts were:
Owed by Portree Hotel Ltd
Skye Linen Ltd £168,719 (2023: £75,532)
Puddle Duck Properties Ltd £72,475 (2023: £nil)
Greshornish House Ltd £50,872 (2023: £26,136)
Skye Hotels Ltd £47,937 (2023: £50)
Sithean Beag Ltd £42,310 (2023: £64,620)
Kedrah Trading Ltd £38,210 (2023: £17,400)
MacDonald House Ltd £15,500 (2023: £nil)
Owed to Portree Hotel Ltd
Hardcake Holdings Ltd £14,469 (2023: £2,220)
Caledonian Skye Distillers Ltd £10,094 (2023: £240)