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Company Registration No. SC169953 (Scotland)
Craigsanquhar House & Country Estate Limited Unaudited accounts for the year ended 30 November 2024
Craigsanquhar House & Country Estate Limited Unaudited accounts Contents
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Craigsanquhar House & Country Estate Limited Company Information for the year ended 30 November 2024
Directors
Thomas Earl McClendon Elizabeth McClendon Herkes
Company Number
SC169953 (Scotland)
Registered Office
Craigsanquhar House Hotel Logie, By Cupar Fife KY15 4PZ
Accountants
Gemmell McGee VAT Solutions Ltd Northend Cottage Hopetoun House South Queensferry EH30 9SL
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Craigsanquhar House & Country Estate Limited Statement of financial position as at 30 November 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,835,757 
2,895,656 
Current assets
Inventories
25,928 
830 
Debtors
25,296 
12,565 
Cash at bank and in hand
20,678 
10,242 
71,902 
23,637 
Creditors: amounts falling due within one year
(1,080,204)
(802,388)
Net current liabilities
(1,008,302)
(778,751)
Net assets
1,827,455 
2,116,905 
Capital and reserves
Called up share capital
5,279,477 
5,279,477 
Profit and loss account
(3,452,022)
(3,162,572)
Shareholders' funds
1,827,455 
2,116,905 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by
Elizabeth McClendon Herkes Director Company Registration No. SC169953
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Craigsanquhar House & Country Estate Limited Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Craigsanquhar House & Country Estate Limited is a private company, limited by shares, registered in Scotland, registration number SC169953. The registered office is Craigsanquhar House Hotel, Logie, By Cupar, Fife, KY15 4PZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The balance sheet shows shareholders funds of £2,116,905 (2022 - £2,416,396). Losses for the year of £299,491 (2022 - £315,710) have been incurred. The directors have performed a financial review for a period of 12 months from the date of approval of these financial statements and they have assessed that, taking account of possible future downsides, the company will have sufficient funds to continue its operations. The directors consider that the going concern basis is still applicable to the preparation of the company's financial statements, on the basis that adequate resources are available to continue in operational existence for the foreseeable future. The company's ability to trade is dependent on the continued support of the parent company.
Turnover
The turnover shown in the profit and loss account represents income from the use of the hotel facilities recognised at the time the service is provided and is exclusive of VAT.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2 - 20% straight line
Plant & machinery
over 3 years
Motor vehicles
over 3 years
Fixtures & fittings
over 5 years
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Craigsanquhar House & Country Estate Limited Notes to the Accounts for the year ended 30 November 2024
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. This is in accordance with FRS 102 which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 December 2023
3,784,954 
443,987 
12,488 
8,484 
4,249,913 
Additions
6,519 
10,048 
- 
5,007 
21,574 
At 30 November 2024
3,791,473 
454,035 
12,488 
13,491 
4,271,487 
Depreciation
At 1 December 2023
891,886 
441,399 
12,488 
8,484 
1,354,257 
Charge for the year
75,829 
4,643 
- 
1,001 
81,473 
At 30 November 2024
967,715 
446,042 
12,488 
9,485 
1,435,730 
Net book value
At 30 November 2024
2,823,758 
7,993 
- 
4,006 
2,835,757 
At 30 November 2023
2,893,068 
2,588 
- 
- 
2,895,656 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
10,757 
12,538 
Trade debtors
14,539 
27 
25,296 
12,565 
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Craigsanquhar House & Country Estate Limited Notes to the Accounts for the year ended 30 November 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
38,774 
20,343 
Other creditors
1,031,730 
778,745 
Accruals
3,300 
3,300 
Deferred income
6,400 
- 
1,080,204 
802,388 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
5,279,477 Ordinary shares of £1 each
5,279,477 
5,279,477 
8
Transactions with related parties
During the year, the company received funding amounting to £113,562 from House of Spens, an entity under common control. This loan has no repayment terms, does not attract interest and is disclosed in other creditors.
9
Controlling party
In the directors opinion the company's ultimate parent undertaking and controlling party was MBH Capital LLC, a Texas U.S.A. limited liability company.
10
Average number of employees
During the year the average number of employees was 8 (2023: 8).
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