REGISTERED NUMBER: 01319576 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 31 MARCH 2025

FOR

CAIRNGORM SKI SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Southcott

Mrs D M Southcott

A J Southcott

D A Southcott

R M Southcott

REGISTERED OFFICE:

Unit H Opus 36

New Potter Grange Road

Goole

DN14 6BZ

REGISTERED NUMBER:

01319576 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

2,774,481

2,944,965

Investments

5

2

2

2,774,483

2,944,967

CURRENT ASSETS

Stocks

59,362

41,940

Debtors

6

334,751

188,890

Cash at bank and in hand

-

89,747

394,113

320,577

CREDITORS

Amounts falling due within one year

7

2,313,947

1,558,088

NET CURRENT LIABILITIES

(1,919,834

)

(1,237,511

)

TOTAL ASSETS LESS CURRENT LIABILITIES

854,649

1,707,456

CREDITORS

Amounts falling due after more than one year

8

(128,372

)

(275,753

)

PROVISIONS FOR LIABILITIES

(270,978

)

(270,978

)

NET ASSETS

455,299

1,160,725

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Revaluation reserve

11

226,833

226,833

Retained earnings

178,466

883,892

SHAREHOLDERS' FUNDS

455,299

1,160,725

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

P Southcott - Director

1.	STATUTORY INFORMATION

Cairngorm Ski Services Limited is a private company, limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Unit H Opus 36, New Potter Grange Road, Goole, DN14 6BZ.

The company's principal activity during the year continued to be the provision of coaching holidays throughout the United Kingdom and Europe.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover is recognised at the date of departure of tours.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

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:

Hotel equipment

5% to 20% straight line

Motor vehicles

25% reducing balance

Office equipment

15% reducing balance

Ski equipment

10% straight line

Computer equipment

20% straight line

Fixtures and fittings

10% straight line

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less provision for impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

Contributions to defined contribution plans are recognised in the period to which they relate.

Accounting period

The company's accounting reference period date is 31 October. Financial statements are made up for a 52 or 53 week period ending on a Saturday adjacent to 31 October in each year. The financial statements are for a 53 week period ending 28 October 2023. The comparative figures are for a 52 week period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 37 (2023 - 60 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Hotel and

Other

Motor

property

equipment

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 November 2023

50,247

3,289,667

60,311

325,467

3,725,692

Additions

-

22,038

932

-

22,970

At 31 March 2025

50,247

3,311,705

61,243

325,467

3,748,662

DEPRECIATION

At 1 November 2023

2,755

679,106

50,649

48,217

780,727

Charge for period

1,694

154,758

5,311

31,691

193,454

At 31 March 2025

4,449

833,864

55,960

79,908

974,181

NET BOOK VALUE

At 31 March 2025

45,798

2,477,841

5,283

245,559

2,774,481

At 31 October 2023

47,492

2,610,561

9,662

277,250

2,944,965

The hotel was revalued in 2002 at £1,735,000. On transition to FRS102 the prior revaluation was taken as deemed cost.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2023

and 31 March 2025

2

NET BOOK VALUE

At 31 March 2025

2

At 31 October 2023

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Cairngorm Coach Travel Limited

Registered office: Unit H Opus 36, New Potter Grange Road, Goole, DN14 6BZ.

Nature of business: Provision of coach travel

%

Class of shares:

holding

A Ordinary

100.00

Cairngorm Transport Limited

Registered office: 33 Aire Street, Goole, East Riding of Yorkshire, DN14 5QW

Nature of business: Buying in and selling out of coach transport

%

Class of shares:

holding

A Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Trade debtors

-

28,812

Other debtors

274,386

28,448

Prepayments

60,365

131,630

334,751

188,890

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2023

£

£

Bank loans and overdrafts

168,020

48,950

Hire purchase contracts (see note 9)

48,060

48,060

Trade creditors

177,017

130,590

Amounts owed to group undertakings

768,223

402,004

Social security and other taxes

12,624

9,657

VAT

64,527

126,973

Other creditors

86,388

103,259

Directors' current accounts

480,348

75,088

Accruals and deferred income

508,740

613,507

2,313,947

1,558,088

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2023

£

£

Bank loans > 1 year

44,267

123,563

Hire purchase contracts (see note 9)

84,105

152,190

128,372

275,753

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2023

£

£

Gross obligations repayable:

Within one year

56,556

56,556

Between one and five years

98,972

179,153

155,528

235,709

Finance charges repayable:

Within one year

8,496

8,496

Between one and five years

14,867

26,963

23,363

35,459

Net obligations repayable:

Within one year

48,060

48,060

Between one and five years

84,105

152,190

132,165

200,250

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2023

£

£

Bank loans

93,217

172,513

The bank loans are secured by a fixed charge over the Duke of Gordon Hotel, together with a floating charge over the assets of Cairngorm Ski Services Limited, and a cross guarantee over the assets of the two subsidiary companies.

11.

RESERVES

Revaluation

reserve

£

At 1 November 2023

and 31 March 2025

226,833

12.	GENERAL INFORMATION

Cairngorm Ski Services Limited has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.