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Company registration number: SC559636
Isles Inn Portree Ltd
Trading as Isles Inn
Unaudited filleted abridged financial statements
30 November 2024
Isles Inn Portree Ltd
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
Isles Inn Portree Ltd
Directors and other information
Directors Miss Stacey Brotherhood
Secretary Stacey Brotherhood
Company number SC559636
Registered office 3 Rathad Na H-airigh
Portree
Isle Of Skye
IV51 9TW
Business address Somerled Square
Portree
Isle Of Skye
IV51 9EH
Accountants MOR Accounting Services
11 Glenfield Avenue
Cowdenbeath
Fife
KY49EN
Isles Inn Portree Ltd
Abridged statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 46,587 5,663
_______ _______
46,587 5,663
Current assets
Stocks 12,842 12,842
Debtors 30,089 16,828
Cash at bank and in hand 66,487 6,206
_______ _______
109,418 35,876
Creditors: amounts falling due
within one year ( 143,857) ( 79,878)
_______ _______
Net current liabilities ( 34,439) ( 44,002)
_______ _______
Total assets less current liabilities 12,148 ( 38,339)
Creditors: amounts falling due
after more than one year ( 6,183) ( 12,605)
_______ _______
Net assets/(liabilities) 5,965 ( 50,944)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 5,865 ( 51,044)
_______ _______
Shareholders funds/(deficit) 5,965 ( 50,944)
_______ _______
For the 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.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the current year ending 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:
Miss Stacey Brotherhood
Director
Company registration number: SC559636
Isles Inn Portree Ltd
Notes to the financial statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 3 Rathad Na H-airigh, Portree, Isle Of Skye, IV51 9TW.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Staff costs
The average number of persons employed by the company during the year amounted to 21 (2023: 22 ).
The aggregate payroll costs incurred during the year were:
2024 2023
£ £
Wages and salaries 447,251 390,538
Social security costs 27,515 20,656
Other pension costs 4,866 6,669
_______ _______
479,632 417,863
_______ _______
5. Dividends
6. Tangible assets
£
Cost
At 1 December 2023 47,446
Additions 42,861
Disposals ( 26,011)
_______
At 30 November 2024 64,296
_______
Depreciation
At 1 December 2023 41,783
Charge for the year 1,937
Disposals ( 26,011)
_______
At 30 November 2024 17,709
_______
Carrying amount
At 30 November 2024 46,587
_______
At 30 November 2023 5,663
_______
7. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Miss Stacey Brotherhood ( 7,768) 22,112 14,344
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Miss Stacey Brotherhood ( 1,024) ( 6,744) ( 7,768)
_______ _______ _______