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REGISTERED NUMBER: SC292029 (Scotland)















North Hotels Limited

Financial Statements For The Year Ended 30 November 2024






North Hotels Limited (Registered number: SC292029)






Contents of the Financial Statements
For The Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


North Hotels Limited

Company Information
For The Year Ended 30 November 2024







DIRECTORS: E S Egan
Mrs P M Egan
J Buchanan
Miss B Egan





SECRETARY: Miss B Egan





REGISTERED OFFICE: 1 Sir John's Square
Thurso
Caithness
KW14 7AN





REGISTERED NUMBER: SC292029 (Scotland)





ACCOUNTANTS: The Long Partnership
Chartered Accountants
Chartered Tax Advisers
1 Sir John's Square
Thurso
Caithness
KW14 7AN

North Hotels Limited (Registered number: SC292029)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 6,000
Tangible assets 5 533,821 549,062
536,821 555,062

CURRENT ASSETS
Stocks 9,453 10,482
Debtors 6 14,005 14,144
Cash at bank and in hand 679,750 511,947
703,208 536,573
CREDITORS
Amounts falling due within one year 7 131,240 73,096
NET CURRENT ASSETS 571,968 463,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,108,789

1,018,539

PROVISIONS FOR LIABILITIES 9 29,907 26,154
NET ASSETS 1,078,882 992,385

CAPITAL AND RESERVES
Called up share capital 10 4 4
Retained earnings 11 1,078,878 992,381
SHAREHOLDERS' FUNDS 1,078,882 992,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

North Hotels Limited (Registered number: SC292029)

Balance Sheet - continued
30 November 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 August 2025 and were signed on its behalf by:





J Buchanan - Director


North Hotels Limited (Registered number: SC292029)

Notes to the Financial Statements
For The Year Ended 30 November 2024

1. STATUTORY INFORMATION

North Hotels Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income receivable from the provision of hotel services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost, 10% on reducing balance and 2% on cost
Equipment - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

North Hotels Limited (Registered number: SC292029)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 60,000
AMORTISATION
At 1 December 2023 54,000
Amortisation for year 3,000
At 30 November 2024 57,000
NET BOOK VALUE
At 30 November 2024 3,000
At 30 November 2023 6,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Short and Computer
property leasehold fittings equipment Totals
£    £    £    £    £   
COST
At 1 December 2023 635,430 29,677 364,663 9,353 1,039,123
Additions - - 10,010 2,123 12,133
At 30 November 2024 635,430 29,677 374,673 11,476 1,051,256
DEPRECIATION
At 1 December 2023 215,122 28,409 241,567 4,963 490,061
Charge for year 12,709 1,268 12,898 499 27,374
At 30 November 2024 227,831 29,677 254,465 5,462 517,435
NET BOOK VALUE
At 30 November 2024 407,599 - 120,208 6,014 533,821
At 30 November 2023 420,308 1,268 123,096 4,390 549,062

North Hotels Limited (Registered number: SC292029)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 10,712 12,947
Sundry Debtors 750 750
Prepayments 2,543 447
14,005 14,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 583 300
Trade creditors 17,685 8,432
Tax 48,068 21,130
Social security and other taxes 4,717 4,089
VAT 52,555 36,931
Accrued expenses 7,632 2,214
131,240 73,096

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.24 30.11.23
£    £   
Within one year 55,000 55,000

The company is committed to making the above total payments in respect of a 10 year operating lease commencing in August 2014 on the Station Hotel.

9. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 29,907 26,154

Deferred
tax
£   
Balance at 1 December 2023 26,154
Charge to Income Statement during year 3,753
Balance at 30 November 2024 29,907

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
4 Ordinary 1 4 4

North Hotels Limited (Registered number: SC292029)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2024

11. RESERVES
Retained
earnings
£   

At 1 December 2023 992,381
Profit for the year 126,497
Dividends (40,000 )
At 30 November 2024 1,078,878

12. RELATED PARTY DISCLOSURES

During the year the company paid rentals of £55,000 (2023 - £55,000) to Mr E and Mrs P Egan under the terms of a lease for the use of the Station Hotel by the company.

13. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors who hold 100% of the issued share capital equally between them.