Comrie Croft Limited SC265297 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the operation of an eco-friendly holiday and wedding destination. Digita Accounts Production Advanced 6.30.9574.0 true true false true SC265297 2024-01-01 2024-12-31 SC265297 2024-12-31 SC265297 bus:OrdinaryShareClass1 2024-12-31 SC265297 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-12-31 SC265297 core:CurrentFinancialInstruments 2024-12-31 SC265297 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 SC265297 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 SC265297 core:WithinOneYear 2024-12-31 SC265297 core:ConstructionInProgressAssetsUnderConstruction 2024-12-31 SC265297 core:FurnitureFittings 2024-12-31 SC265297 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 SC265297 core:MotorVehicles 2024-12-31 SC265297 core:OfficeEquipment 2024-12-31 SC265297 core:PlantMachinery 2024-12-31 SC265297 1 2024-12-31 SC265297 bus:SmallEntities 2024-01-01 2024-12-31 SC265297 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC265297 bus:FilletedAccounts 2024-01-01 2024-12-31 SC265297 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 SC265297 bus:RegisteredOffice 2024-01-01 2024-12-31 SC265297 bus:Director8 2024-01-01 2024-12-31 SC265297 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC265297 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC265297 core:ConstructionInProgressAssetsUnderConstruction 2024-01-01 2024-12-31 SC265297 core:FurnitureFittings 2024-01-01 2024-12-31 SC265297 core:LandBuildings 2024-01-01 2024-12-31 SC265297 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC265297 core:MotorVehicles 2024-01-01 2024-12-31 SC265297 core:OfficeEquipment 2024-01-01 2024-12-31 SC265297 core:PlantMachinery 2024-01-01 2024-12-31 SC265297 core:Subsidiary1 2024-01-01 2024-12-31 SC265297 core:Subsidiary1 1 2024-01-01 2024-12-31 SC265297 core:Subsidiary1 countries:Scotland 2024-01-01 2024-12-31 SC265297 countries:Scotland 2024-01-01 2024-12-31 SC265297 1 2024-01-01 2024-12-31 SC265297 2023-12-31 SC265297 core:CostValuation 2023-12-31 SC265297 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 SC265297 core:FurnitureFittings 2023-12-31 SC265297 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 SC265297 core:MotorVehicles 2023-12-31 SC265297 core:OfficeEquipment 2023-12-31 SC265297 core:PlantMachinery 2023-12-31 SC265297 1 2023-12-31 SC265297 2023-01-01 2023-12-31 SC265297 2023-12-31 SC265297 bus:OrdinaryShareClass1 2023-12-31 SC265297 core:CurrentFinancialInstruments 2023-12-31 SC265297 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 SC265297 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 SC265297 core:WithinOneYear 2023-12-31 SC265297 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 SC265297 core:FurnitureFittings 2023-12-31 SC265297 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 SC265297 core:MotorVehicles 2023-12-31 SC265297 core:OfficeEquipment 2023-12-31 SC265297 core:PlantMachinery 2023-12-31 SC265297 1 2023-12-31 SC265297 core:Subsidiary1 1 2023-01-01 2023-12-31 SC265297 1 2023-01-01 2023-12-31 SC265297 1 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC265297

Comrie Croft Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Comrie Croft Limited

(Registration number: SC265297)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

15,000

15,000

Tangible assets

4

1,352,714

1,148,978

Investments

5

1

1

Other financial assets

6

10

10

 

1,367,725

1,163,989

Current assets

 

Stocks

217,565

273,757

Debtors

7

97,626

92,071

Cash at bank and in hand

 

192,257

305,791

 

507,448

671,619

Creditors: Amounts falling due within one year

8

(563,084)

(385,025)

Net current (liabilities)/assets

 

(55,636)

286,594

Total assets less current liabilities

 

1,312,089

1,450,583

Creditors: Amounts falling due after more than one year

8

(99,092)

(126,594)

Provisions for liabilities

(2,338)

(9,988)

Net assets

 

1,210,659

1,314,001

Capital and reserves

 

Called up share capital

9

104,232

102,496

Share premium reserve

380,195

364,563

Other reserves

(10,438)

(10,438)

Retained earnings

736,670

857,380

Shareholders' funds

 

1,210,659

1,314,001

For the financial year ending 31 December 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 of its accounts for the year in question in accordance with section 476; and

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 the financial year and of its profit or loss for each financial year in accordancce 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.

 

Comrie Croft Limited

(Registration number: SC265297)
Balance Sheet as at 31 December 2024 (continued)

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 August 2025 and signed on its behalf by:
 

.........................................
A G Donaldson
Director

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Comrie Croft
Crieff
PERTHSHIRE
PH7 4JZ

These financial statements were authorised for issue by the Board on 14 August 2025.

2

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

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

The exemptions under section 1A regarding cashflow statement and under s414B of the Companies Act regarding the strategic report have been taken this year.
 


Preparation of consolidated financial statements
The financial statements contain information about Comrie Croft Limited as an individual company and do not contain certain consolidated financial information as the parent of the group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.
 

Going concern

The financial statements have been prepared on a going concern basis.

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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.

Government grants

Grants received from government and intergovernmental agencies in respect of funding assistance to purchase capital assets have been included in the balance sheet as deferred income. This is then credited to the profit and loss account, by instalments over the expected useful economic life of the related assets on a basis consistent with the depreciation policy.

Grants relating to revenue are recognised, in the profit and loass account, on a systematic basis over the periods in which the company recognised the related costs for which the grant is intended to compensate.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

20% on cost, 10% on cost, 2% on cost and not provided

Plant and machinery etc.

20% on reducing balance, 20% on cost and 10% on reducing balance

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Investments

Investments relate to an investment in an unlisted entity which is stated at cost less impairment. At each balance sheet date, the investment is assessed for indicators of impairment and where there are indicators of impairment, recoverable amount is assessed. If recoverable amount is less than carrying amount, the investment is written down to recoverable amount by way of an impairment loss which is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 36 (2023 - 38).

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Land and buildings
£

Assets under construction
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

1,649,264

98,029

162,277

171,830

17,114

7,740

2,106,254

Additions

14,282

221,309

-

2,410

6,210

63,250

307,461

Disposals

-

-

-

-

-

(28,750)

(28,750)

At 31 December 2024

1,663,546

319,338

162,277

174,240

23,324

42,240

2,384,965

Depreciation

At 1 January 2024

632,445

-

135,102

168,750

13,239

7,740

957,276

Charge for the year

57,787

-

5,435

2,836

2,017

6,900

74,975

At 31 December 2024

690,232

-

140,537

171,586

15,256

14,640

1,032,251

Carrying amount

At 31 December 2024

973,314

319,338

21,740

2,654

8,068

27,600

1,352,714

At 31 December 2023

1,016,819

98,029

27,175

3,080

3,875

-

1,148,978

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Investments

2024
£

2023
£

Investments in subsidiaries

1

1

Subsidiaries

£

Cost or valuation

At 1 January 2024

1

Carrying amount

At 31 December 2024

1

At 31 December 2023

1

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

Combruith Limited

Comrie Croft
Crieff
PERTHSHIRE
PH7 4JZ

Scotland

Ordinary

100%

100%

Subsidiary undertakings

Combruith Limited

The principal activity of Combruith Limited is non-trading.

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2024

10

10

At 31 December 2024

10

10

Impairment

Carrying amount

At 31 December 2024

10

10

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

43,648

28,260

Amounts owed by related parties

11

125

125

Prepayments

 

12,289

10,354

Other debtors

 

41,564

53,332

   

97,626

92,071

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

26,585

25,150

Trade creditors

 

24,039

41,979

Taxation and social security

 

-

32,720

Accruals and deferred income

 

469,538

257,447

Other creditors

 

42,922

27,729

 

563,084

385,025

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

79,539

107,559

Deferred income

 

5,688

-

Other non-current financial liabilities

 

13,865

19,035

 

99,092

126,594

The loans and borrowings comprise a bank loan from Triodos Bank.

The loan from Triodos Bank is secured by a standard security over the land & buildings at Comrie Croft. It bears interest at base rate plus 1.85% and is repayable over a 20 year term. Repayments commenced in June 2009.

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £0.10 each

1,042,324

104,232

1,024,955

102,496

       

In 2010, the company introduced a Dividend Reinvestment Plan (DRIP). The plan was made available to registered shareholders and allows for the reinvestment of dividends into additional ordinary shares.
The company issued 17,369 (2023: 16,911) ordinary 10p shares, with a total nominal value of £1,736 (2023: £1,691), under the DRIP at a premium of 90p per share.

At 31 December 2024, the company held 10,438 (2023:10,438) of its own ordinary shares in treasury, with a nominal value of £1,044 (2023: £1,044). No treasury shares were cancelled or re-issued during the year.

Treasury shares are presented as a deduction from equity in accordance with the company's accounting policy. These shares do not carry voting or dividend rights while held in treasury.

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Ending within one year

9,331

9,114

 

Comrie Croft Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

11

Related party transactions

The company made loans to one of the directors as follows:

2024

At 1 January 2024
£

Repayments by director
£

At 31 December 2024
£

33,623

(24,385)

9,238

       
     

 

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

42,735

(9,112)

33,623