| REGISTERED NUMBER: |
| Primrose Guest House Limited |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| REGISTERED NUMBER: |
| Primrose Guest House Limited |
| Unaudited Financial Statements |
| for the Year Ended 30 June 2024 |
| Primrose Guest House Limited (Registered number: SC224780) |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Primrose Guest House Limited |
| Company Information |
| for the Year Ended 30 June 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 9 Ainslie Place |
| Edinburgh |
| Midlothian |
| EH3 6AT |
| BANKERS: |
| 2 Triton Square |
| Regent's Place |
| London |
| NW1 3AN |
| Primrose Guest House Limited (Registered number: SC224780) |
| Balance Sheet |
| 30 June 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 8 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| Primrose Guest House Limited (Registered number: SC224780) |
| Balance Sheet - continued |
| 30 June 2024 |
| The financial statements were approved by the director and authorised for issue on |
| Primrose Guest House Limited (Registered number: SC224780) |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2024 |
| 1. | STATUTORY INFORMATION |
| Primrose Guest House Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Critical accounting judgements and key sources of estimation uncertainty |
| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
| Turnover and revenue recognition |
| Turnover represents room letting and related services invoiced, excluding value added tax. Revenue is recognised based on the rent due in accordance with the respective rent agreements and when the services have been provided to the customer. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Financial instruments |
| The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
| All loans with related parties are all repayable on demand. |
| 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. |
| Primrose Guest House Limited (Registered number: SC224780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 July 2023 |
| Revaluations |
| At 30 June 2024 |
| DEPRECIATION |
| At 1 July 2023 |
| and 30 June 2024 |
| NET BOOK VALUE |
| At 30 June 2024 |
| At 30 June 2023 |
| Primrose Guest House Limited (Registered number: SC224780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| Cost or valuation at 30 June 2024 is represented by: |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| Valuation in 2015 | 121,000 | - | 121,000 |
| Valuation in 2016 | 312,000 | - | 312,000 |
| Valuation in 2017 | 100,000 | - | 100,000 |
| Valuation in 2024 | 95,000 | - | 95,000 |
| Cost | 217,000 | 27,473 | 244,473 |
| 845,000 | 27,473 | 872,473 |
| The property was valued on an open market basis by J & E Shepherd Chartered Surveyors on 12 September 2023. The original cost of the property was £217,000. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 488,918 | 492,107 |
| Primrose Guest House Limited (Registered number: SC224780) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2024 |
| 8. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 July 2023 |
| Revaluations | 95,000 |
| At 30 June 2024 |
| 9. | RELATED PARTY DISCLOSURES |
| Primrose Guest House Limited is a wholly owned subsidiary of Jasmine Holdings (Edinburgh) Limited. During the year, Jasmine Holdings (Edinburgh) Limited loaned £64,200 (2023: £51,800) to the company. The company repaid £73,300 (2023: £53,459) to Jasmine Holdings (Edinburgh) Limited. There was rent amount of £4,600 due from Jasmine Holdings (Edinburgh) Limited on 30 June 2024. The balance of £188,294 (2023: £201,994) was due to Jasmine Holdings (Edinburgh) Limited on 30 June 2024. |
| The balance of £1,000 (2023: £1,000) was due to Castle 45 Limited on 30 June 2024, a company in which Mrs C C M Tong is a director. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party was Mrs C C M Tong, a director and shareholder of Jasmine Holdings (Edinburgh) Limited. |
| Primrose Guest House Limited is a wholly owned subsidiary of Jasmine Holdings (Edinburgh) Limited, a company registered in Scotland and whose registered office is 9 Ainslie Place, Edinburgh, EH3 6AT. |
| 11. | GOING CONCERN |
| The financial statements have been prepared on the going concern principle which assumes that the company will continue to trade in the foreseeable future. In order to do so the company will require the continued support of its director, parent company, bank and creditors. The director and parent company will continue to support the company and are confident of the continued support of the bank and creditors. |