Company registration number SC717082 (Scotland)
SKYE HOTELS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SKYE HOTELS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SKYE HOTELS LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
356,500
14,101
Cash at bank and in hand
-
0
87,668
356,500
101,769
Creditors: amounts falling due within one year
4
(165,293)
(19,694)
Net current assets
191,207
82,075
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
191,107
81,975
Total equity
191,207
82,075

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2024 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 year 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.

The financial statements were approved by the board of directors and authorised for issue on 26 August 2025 and are signed on its behalf by:
Miss R R Dickson
Director
Company Registration No. SC717082
SKYE HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
Accounting policies
Company information

Skye Hotels Ltd is a private company limited by shares incorporated in Scotland. The registered office is Rosedale, Beaumont Crescent, Portree, Isle of Skye, United Kingdom, IV51 9DF.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
1
SKYE HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
7,015
-
0
Other debtors
349,485
14,101
356,500
14,101
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
198
-
0
Trade creditors
23,078
2,822
Corporation tax
40,729
15,125
Other taxation and social security
86,113
487
Other creditors
13,175
-
0
Accruals and deferred income
2,000
1,260
165,293
19,694
SKYE HOTELS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
5
Related party transactions

The following transactions and balances occurred with companies in which the directors and/or close family members hold a controlling interest:

 

Expenses

 

Puddle Duck Properties Ltd     £106,862    (2023: nil)

Skye Linen (Scotland) Ltd    £28,371     (2023: £9,256)

Portree Hotel Ltd            £nil        (2023: £17,885)

 

 

At the balance sheet date, the following amounts were owed to Skye Hotels Ltd:

 

Puddle Duck Properties Ltd    £236,183    (2023: £nil)

Portree Hotel Ltd            £47,937        (2023: (£50))

Greshornish House Ltd        £28,750        (2023: £nil)

Skye Linen Ltd            £20,340        (2023: £7,000)

Caledonian Skye Distillers Ltd    £3,957        (2023: £nil)

 

 

At the balance sheet date, the following amounts were owed by Skye Hotels Ltd:

 

Sithean Beag Ltd        £13,175

 

6
Directors' transactions

At the balance sheet date, the sum of £12,218 (2023: £7,050) was owed to the company by close family members of the directors. No interest has been charged and no repaymemt terms have been set.

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