REGISTERED NUMBER: SC524608 (Scotland)

Pentland Lodge Limited

Unaudited Financial Statements

for the Year Ended 31st January 2025

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

8

Director:

C W H Korsten

Registered office:

Chirnside Hall Hotel

Duns

Berwickshire

TD11 3LD

Registered number:

SC524608 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

2,966,200

2,983,071

2,966,200

2,983,071

Current assets

Stocks

71,400

66,350

Debtors

6

80,034

27,416

Cash at bank

11,885

11,578

163,319

105,344

Creditors

Amounts falling due within one year

7

1,976,347

1,896,004

Net current liabilities

(1,813,028

)

(1,790,660

)

Total assets less current liabilities

1,153,172

1,192,411

Provisions for liabilities

8,394

11,022

Net assets

1,144,778

1,181,389

Capital and reserves

Called up share capital

2,745,852

2,745,852

Retained earnings

(1,601,074

)

(1,564,463

)

Shareholders' funds

1,144,778

1,181,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd October 2025 and were signed by:

C W H Korsten - Director

1.	Statutory information

Pentland Lodge 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

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.

BPS Entitlements have been fully amortised over its estimated useful life of four years.

Tangible fixed assets

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

North Slipperfield Estate

-

not provided

Hotel

-

not provided

Property improvements

-

20% on cost and 5% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

The North Slipperfield Estate is land therefore is not depreciated.

The building of the Hotel has not yet been completed therefore has not been depreciated.

Tangible fixed assets are stated at the cost less accumulated depreciation and accumulated impairment losses.

Stocks

Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling price less further costs expected to be incurred in bringing the stock to completion.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, director loan accounts and other loans.

Trade debtors, trade creditors, accruals, director loan accounts and other loans are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence if impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income and retained earnings, 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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expenses in the statement of income and retained earnings in the period in which they are incurred.

Going concern

The director acknowledges the negative reserves at the period end. He has taken steps to improve results and is expecting a profit to be made in the year ended 31st January 2026.

So in this respect the director has adopted the going concern basis in preparing these financial statements.

3.	Employees and directors

The average number of employees during the year was 4 (2024 - 4 ) .

4.	Intangible fixed assets

BPS

Entitlemen

£

Cost

At 1st February 2024

and 31st January 2025

4,930

Amortisation

At 1st February 2024

and 31st January 2025

4,930

Net book value

At 31st January 2025

-

At 31st January 2024

-

5.	Tangible fixed assets

North

Slipperfield

Property

Estate

Hotel

improveme

£

£

£

Cost

At 1st February 2024

2,450,436

433,073

80,085

Additions

-

-

-

Disposals

-

-

-

At 31st January 2025

2,450,436

433,073

80,085

Depreciation

At 1st February 2024

-

-

38,532

Charge for year

-

-

3,043

Eliminated on disposal

-

-

-

At 31st January 2025

-

-

41,575

Net book value

At 31st January 2025

2,450,436

433,073

38,510

At 31st January 2024

2,450,436

433,073

41,553

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1st February 2024

118,540

1,055

127,361

3,210,550

Additions

5,495

-

-

5,495

Disposals

-

-

(43,680

)

(43,680

)

At 31st January 2025

124,035

1,055

83,681

3,172,365

Depreciation

At 1st February 2024

86,283

792

101,872

227,479

Charge for year

7,346

52

4,524

14,965

Eliminated on disposal

-

-

(36,279

)

(36,279

)

At 31st January 2025

93,629

844

70,117

206,165

Net book value

At 31st January 2025

30,406

211

13,564

2,966,200

At 31st January 2024

32,257

263

25,489

2,983,071

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

51,168

13,108

Other debtors

28,866

14,308

80,034

27,416

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

515,795

439,862

Taxation and social security

1,138

1,187

Other creditors

1,459,414

1,454,955

1,976,347

1,896,004

8.	Secured debts

The following secured debts are included within creditors:

2025

2024

£

£

Shareholder loans

1,467,465

1,444,955

The shareholders, Amstelbay B.V and Deka Beheer li B.V, hold security over the land at North Slipperfield Estate.

9.	Other financial commitments

At 31st January 2025, the company had total commitments due to Lee and Carnwath Estate under non-cancellable operating leases over the remaining life of those leases of £22,980 (2024 - £20,680)