Central Skye Hotels Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC027013

Central Skye Hotels Limited

Filleted Unaudited Financial Statements

31 March 2025

Central Skye Hotels Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	37,715	863,933
Investments	7	37,503	37,503
		--------	---------
		75,218	901,436

Current assets

Debtors	8	2,508,547	854,889
Cash at bank and in hand		1,260,847	1,836,491
		------------	------------
		3,769,394	2,691,380

Creditors: amounts falling due within one year	9	208,197	391,410
		------------	------------
Net current assets		3,561,197	2,299,970
		------------	------------
Total assets less current liabilities		3,636,415	3,201,406

Creditors: amounts falling due after more than one year	10	5,000	5,000
		------------	------------
Net assets		3,631,415	3,196,406
		------------	------------

Capital and reserves

Called up share capital	15,000	15,000
Profit and loss account	3,616,415	3,181,406
	------------	------------
Shareholders funds	3,631,415	3,196,406
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Central Skye Hotels Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 22 December 2025 , and are signed on behalf of the board by:

Mrs R Patience

Director

Company registration number: SC027013

Central Skye Hotels Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Ritsons, Forbes House, 36 Huntly Street, IV3 5PR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	various rates depending on asset
Plant and machinery	-	50% straight line
Fixtures and fittings	-	various rates depending on asset
Motor vehicles	-	50% straight line
Computer equipment	-	20% reducing balance

	Other assets	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: 28 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024	10,000
Additions	–
Disposals of previously acquired businesses	( 10,000)
	--------
At 31 March 2025	–
	--------
Amortisation
At 1 April 2024	10,000
Charge for the year	–
Disposals	( 10,000)
	--------
At 31 March 2025	–
	--------
Carrying amount
At 31 March 2025	–
	--------
At 31 March 2024	–
	--------

6. Tangible assets

	Land and buildings	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 April 2024	1,157,415	15,000	800	1,173,215
Disposals	( 1,102,295)	( 15,000)	( 800)	( 1,118,095)
	------------	--------	----	------------
At 31 March 2025	55,120	–	–	55,120
	------------	--------	----	------------
Depreciation
At 1 April 2024	293,482	15,000	800	309,282
Disposals	( 276,077)	( 15,000)	( 800)	( 291,877)
	------------	--------	----	------------
At 31 March 2025	17,405	–	–	17,405
	------------	--------	----	------------
Carrying amount
At 31 March 2025	37,715	–	–	37,715
	------------	--------	----	------------
At 31 March 2024	863,933	–	–	863,933
	------------	--------	----	------------

7. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 and 31 March 2025	37,503
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	37,503
	--------
At 31 March 2024	37,503
	--------

8. Debtors

	2025	2024
	£	£
Trade debtors	–	3,882
Amounts owed by group undertakings and undertakings in which the company has a participating interest	30,000	–
Other debtors	2,478,547	851,007
	------------	---------
	2,508,547	854,889
	------------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	22,515	2,144
Corporation tax	162,567	339,759
Social security and other taxes	17,269	20,893
Other creditors	5,846	28,614
	---------	---------
	208,197	391,410
	---------	---------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	5,000	5,000
	-------	-------

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs C M Coghill	281,058	400,000	( 52,500)	628,558
Mr A J Coghill	49,712	400,000	( 87,500)	362,212
Mrs E McNiven	99,370	158,360	( 8,000)	249,730
Miss C Coghill	99,638	150,000	( 8,000)	241,638
Mr G Curley	–	–	–	–
Mrs D Curley	147,615	163,000	( 8,113)	302,502
Mr J Coghill	119,576	–	( 8,000)	111,576
Mrs R Patience	–	300,000	( 8,000)	292,000
	---------	------------	---------	------------
	796,969	1,571,360	( 180,113)	2,188,216
	---------	------------	---------	------------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs C M Coghill	–	281,058	–	281,058
Mr A J Coghill	( 266)	50,070	( 92)	49,712
Mrs E McNiven	12,370	87,000	–	99,370
Miss C Coghill	( 638)	100,276	–	99,638
Mr G Curley	1,676	–	( 1,676)	–
Mrs D Curley	32,892	114,817	( 94)	147,615
Mr J Coghill	46,300	73,276	–	119,576
Mrs R Patience	( 5,000)	5,000	–	–
	--------	---------	-------	---------
	87,334	711,497	( 1,862)	796,969
	--------	---------	-------	---------

These loans have no definite terms of repayment. Interest was charged on loans made to directors at 2.25%, no interest is charged on loans made by directors. Interest receivable in the accounts amounts to £nil (2024- £8,110).

12. Related party transactions

The company has taken advantage of FRS102 1AC.35 exemption available to 100% owned group companies. Accordingly, no disclosure is made of any related party transactions with the company's two subsidiaries.

13. Subsidiary companies

The company owns four shares in Cuillin Brewery Ltd, a company registered in Scotland with the registered office Forbes House, 36 Huntly Street, Inverness, IV3 5PR. The shareholding equates to 100% of the shares in the company.

The company owned two shares in Sligachan Self Catering Ltd, a company registered in Scotland with the registered office Forbes House, 36 Huntly Street, Inverness, IV3 5PR. The shareholding equated to 100% of the shares in the company. Sligachan Self Catering Ltd was dissolved on 16 September 2025.