Key Reservations (Hotels) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC132950 (Scotland)

Financial Statements

for the Year Ended 31 December 2024

for

Key Reservations (Hotels) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C W Perkins

SECRETARY:

Mr C W Perkins

REGISTERED OFFICE:

Suite G

93 Princes Street

Ardrossan

Ayrshire

KA22 8DQ

REGISTERED NUMBER:

SC132950 (Scotland)

ACCOUNTANTS:

Gerber Landa & Gee

Chartered Accountants

Pavilion 1

Finnieston Business Park

Minerva Way

GLASGOW

G3 8AU

FIXED ASSETS

Intangible assets

4

2

Tangible assets

5

47,745

11,289

Investments

6

200

47,947

11,491

CURRENT ASSETS

Debtors

7

1,004,051

692,134

Cash at bank

103,256

130,913

1,107,307

823,047

CREDITORS

Amounts falling due within one year

8

791,585

554,846

NET CURRENT ASSETS

315,722

268,201

TOTAL ASSETS LESS CURRENT
LIABILITIES

363,669

279,692

CREDITORS

Amounts falling due after more than one year

9

(6,007

)

(14,707

)

PROVISIONS FOR LIABILITIES

(9,801

)

(550

)

NET ASSETS

347,861

264,435

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

347,761

264,335

SHAREHOLDERS' FUNDS

347,861

264,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 25 September 2025 and were signed by:

Mr C W Perkins - Director

1.	STATUTORY INFORMATION

Key Reservations (Hotels) 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.

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 £.

Turnover

Turnover represents the amount derived from the provision of goods and services falling within the company's activities after deduction of trade discounts and value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business is being amortised evenly over its estimated useful life.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continue to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

2

NET BOOK VALUE

At 31 December 2024

2

At 31 December 2023

2

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

105,902

Additions

61,345

Disposals

(15,412

)

At 31 December 2024

151,835

DEPRECIATION

At 1 January 2024

94,613

Charge for year

20,012

Eliminated on disposal

(10,535

)

At 31 December 2024

104,090

NET BOOK VALUE

At 31 December 2024

47,745

At 31 December 2023

11,289

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

200

NET BOOK VALUE

At 31 December 2024

200

At 31 December 2023

200

7.

DEBTORS

31.12.24

31.12.23

£

Amounts falling due within one year:

Trade debtors

272,841

193,777

Other debtors

668,710

435,857

941,551

629,634

Amounts falling due after more than one year:

Other debtors

62,500

Aggregate amounts

1,004,051

692,134

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

8,700

Trade creditors

5,142

9,299

Taxation and social security

105,811

112,487

Other creditors

671,932

424,360

791,585

554,846

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

6,007

14,707

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The director, Mr Craig Perkins, has advanced loan funds to the company on an interest free basis and without formal repayment terms. The amount owed at 31 December 2024 is £5,249 (2023: £6,891).

11.	RELATED PARTY DISCLOSURES

As at 31 December 2024 the company is owed the sum of £Nil (2023 £55,562) from Geronimo Sailing Limited. The amount has been written off in the current year as irrecoverable.

As at 31 December 2024 the company is owed the sum of £62,500 (2023 £62,500) from Minard Property Limited. The amount due is interest free and has no fixed repayment date.

Mr CW Perkins is a director of all three companies.

12.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director.