Ardeonaig Ltd - Filleted accounts

Registered number

SC524422

Ardeonaig Ltd

Filleted Accounts

31 December 2024

Ardeonaig Ltd
Registered number:		SC524422
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		1,684,576			1,686,997

Current assets
Stocks		1,726			1,726
Debtors	4	39,983			24,824
Cash at bank and in hand		62,133			630
		103,842			27,180

Creditors: amounts falling due within one year	5	(103,763)			(80,651)

Net current assets/(liabilities)			79			(53,471)

Total assets less current liabilities			1,684,655			1,633,526

Creditors: amounts falling due after more than one year	6		(1,687,937)			(1,687,937)



Net liabilities			(3,282)			(54,411)

Capital and reserves
Called up share capital			2			2
Profit and loss account			(3,284)			(54,413)

Shareholders' funds			(3,282)			(54,411)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




KH Cromar
Director
Approved by the board on 31 May 2025

Ardeonaig Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Going concern
	The company has made a profit of £51,129 in the year to 31 December 2024 (Period to 31 December 2023: profit of £10,751) and has net liabilities of £3,282 at the balance sheet date (31 December 2023 net liabilities - £54,411). The directors believe that the company has sufficient support from the group to continue in operational existence for the foreseeable future and thus they continue to adopt the going concern policy.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Government grants
	Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land and buildings under construction	No depreciation
	Plant and machinery	20% straight line
	Office equipment	20% straight line
	Other property plant and equipmen	10% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Cash and cash equivalents
	Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

	Financial instruments
	The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

	Share capital
	Ordinary shares are classified as equity. Called up share capital represents the nominal value of shares that have been issued.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			0		0


3	Tangible fixed assets
		Land and buildings		Other fixed assets		Total
£			£		£
	Cost
	At 1 January 2024	1,615,951		325,546		1,941,497
	Additions	25,754		2,368		28,122
	At 31 December 2024	1,641,705		327,914		1,969,619

	Depreciation
	At 1 January 2024	-		254,500		254,500
	Charge for the year	-		30,543		30,543
	At 31 December 2024	-		285,043		285,043

	Net book value
	At 31 December 2024	1,641,705		42,871		1,684,576
	At 31 December 2023	1,615,951		71,046		1,686,997


4	Debtors			2024		2023
£					£

	Trade debtors			20,136		1,400
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			-		10,437
	Other debtors			19,847		12,987
				39,983		24,824


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Trade creditors			14,655		301
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			21,328		8,970
	Other creditors			67,780		71,380
				103,763		80,651


6	Creditors: amounts falling due after one year			2024		2023
£					£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest			1,687,937		1,687,937


7	Related party transactions

	Heys & Co (Holdings) Ltd, Luxury Cottages Loch Tay Ltd and Ardeonaig Limited are related parties by virtue of common control. As permitted under FRS102 Section 33, transactions with other companies in the group have not been disclosed as related party transactions as the company is a wholly owned subsidiary. Kilrevin Holdings Limited is a related party by virtue of common control. Kilrevin Holdings Limited recharged £61,875(2023: £60,116) At the year-end date £13,336 (2023: £6,229) was outstanding to Kilrevin Holdings Limited. Luxury Cottages Loch Tay Limited is a related party by virtue of common control. Luxury Cottages Loch Tay Limited recharged £97,491(2023: £65,810) At the year-end date £21,328 (2023: £nil) was outstanding to Luxury Cottages Loch Tay Limited. Scot-Tech Furniture Services Limited is a related party by virtue of common control. The company made purchases in the year of £1,813 (2023: £10,135). There were no amounts outstanding at the current or prior year end.


8	Controlling party

	Luxury Cottages Loch Tay Ltd is the parent company and Heys & Co (Holdings) Ltd is the ultimate parent company. Luxury Cottages Loch Tay Ltd and Heys & Co (Holdings) Ltd are companies registered in Scotland and their registered office is 127 Elliot Street, Glasgow, G3 8EX. There is no controlling party.


9	Other information

	Ardeonaig Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
	127 Elliot Street
	Glasgow
	G3 8EX