In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pitcaple Lodge Retreats Ltd for the year ended 31 March 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the board of directors of Pitcaple Lodge Retreats Ltd, as a body, in accordance with the terms of our engagement letter dated 16 October 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Pitcaple Lodge Retreats Ltd and state those matters that we have agreed to state to the board of directors of Pitcaple Lodge Retreats Ltd, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pitcaple Lodge Retreats Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Pitcaple Lodge Retreats Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pitcaple Lodge Retreats Ltd. You consider that Pitcaple Lodge Retreats Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pitcaple Lodge Retreats Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

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

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Pitcaple Lodge Retreats Ltd is a private company limited by shares incorporated in Scotland. The registered office is Gunhill Farm, Pitcaple, Inverurie, AB51 5DS.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 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.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Included within creditors: amounts falling due after more than one year is an amount of £226,250 (2024 - £nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The loan is secured by a standard security over the land owned by Pitcaple Lodge Retreats Ltd and by a floating charge over Pitcaple Lodge Retreats Ltd.

The company has net liabilities of £14,700 (2024 - £652) but included in creditors is the sum of £271,680 (2024 - £46,612) owed to the directors. The directors have confirmed that they will not call in this amount for as long as necessary to ensure the ongoing viability of the company. The directors therefore consider it appropriate for the accounts to be prepared on the going concern basis.