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REGISTERED NUMBER: SC224780 (Scotland)




















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: Mrs C M C Tong



SECRETARY: Mrs C M C Tong



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



REGISTERED NUMBER: SC224780 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Santander
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 4 845,000 750,000

CURRENT ASSETS
Debtors 5 6,320 1,465
Cash at bank 290 317
6,610 1,782
CREDITORS
Amounts falling due within one year 6 209,151 219,998
NET CURRENT LIABILITIES (202,541 ) (218,216 )
TOTAL ASSETS LESS CURRENT LIABILITIES 642,459 531,784

CREDITORS
Amounts falling due after more than one year 7 534,818 492,107
NET ASSETS 107,641 39,677

CAPITAL AND RESERVES
Called up share capital 30,000 30,000
Revaluation reserve 8 627,999 532,999
Retained earnings (550,358 ) (523,322 )
SHAREHOLDERS' FUNDS 107,641 39,677

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

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

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 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 director and authorised for issue on 27 August 2025 and were signed by:





Mrs C M C Tong - Director


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 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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Nil
Plant and machinery etc - 25% on cost

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 750,000 27,473 777,473
Revaluations 95,000 - 95,000
At 30 June 2024 845,000 27,473 872,473
DEPRECIATION
At 1 July 2023
and 30 June 2024 - 27,473 27,473
NET BOOK VALUE
At 30 June 2024 845,000 - 845,000
At 30 June 2023 750,000 - 750,000

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 6,320 1,465

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,168 2,028
Trade creditors 3,925 5,042
Amounts owed to group undertakings 188,294 201,994
Taxation and social security - 4,695
Other creditors 7,764 6,239
209,151 219,998

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 534,818 492,107

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 532,999
Revaluations 95,000

At 30 June 2024 627,999

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.