Donnini Apartments Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

1. General Information

Donnini Apartments Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC529922 . The registered office is Hartfield House, 1 Racecourse View, Ayr, KA7 2TS.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.2. Significant judgements and estimations

In the application of the company’s accounting policies, the directors are 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 estimate 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.

2.3. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Turnover is recognised on a daily basis over the length of a guest's stay.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% Reducing Balance
Fixtures & Fittings	25% Straight Line/25% Reducing Balance
Computer Equipment	33.33% Straight Line

2.5. Financial Instruments

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortized.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

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Donnini Apartments Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Financial Instruments - continued

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2024: 20)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 April 2024	113,997
Additions	34,199

As at 31 March 2025	148,196

Depreciation
As at 1 April 2024	82,661
Provided during the period	16,995

As at 31 March 2025	99,656

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Donnini Apartments Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	48,540

As at 1 April 2024	31,336

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	23,735	29,565
Other debtors	424,761	375,283

	448,496	404,848

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	56,519	55,466
Bank loans and overdrafts	5,556	5,556
Other creditors	139,419	87,127
Taxation and social security	152,691	57,191

	354,185	205,340

Included within other creditors is £nil (2024 - £784) due under hire purchase agreements. These balances are secured over the assets to which they relate.

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	23,148	28,704

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

9. Related Party Transactions

Included within "Other debtors" due within one year are amounts of £229,638 (2024 - £106,944), £27,036 (2024 - £22,544), £108,000 (2024 - £108,000), and £30,121 (2024 - £83,177) due to companies related by virtue of common control. Movements in the related party balances arise from funding transfers and unless otherwise stated, the balances bear no interest and are repayable on demand.

Also included within "Other debtors" due within one year is £25,251 (2024 - £49,843) due from the company's director. This loan bears no interest and has been repaid after the year end.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		48,540		31,336

			48,540		31,336
CURRENT ASSETS
Debtors	5	448,496		404,848
Cash at bank and in hand		353,475		90,212

		801,971		495,060
Creditors: Amounts Falling Due Within One Year	6	(354,185 )		(205,340 )

NET CURRENT ASSETS (LIABILITIES)			447,786		289,720

TOTAL ASSETS LESS CURRENT LIABILITIES			496,326		321,056

Creditors: Amounts Falling Due After More Than One Year	7		(23,148 )		(28,704 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(12,135 )		(7,834 )

NET ASSETS			461,043		284,518

CAPITAL AND RESERVES
Called up share capital	8		2		2
Profit and Loss Account			461,041		284,516

SHAREHOLDERS' FUNDS			461,043		284,518