Westlands of Perthshire Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC518261

Westlands of Perthshire Ltd

Filleted Unaudited Financial Statements

31 March 2025

Westlands of Perthshire Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		2,544,150	1,926,829

Current assets

Stocks		4,500	3,800
Debtors	6	59,253	–
Cash at bank and in hand		38,408	53,449
		---------	--------
		102,161	57,249

Creditors: amounts falling due within one year	7	320,685		328,214
		---------		---------
Net current liabilities			218,524	270,965
			------------	------------
Total assets less current liabilities			2,325,626	1,655,864

Creditors: amounts falling due after more than one year	8		1,044,519	907,605

Provisions

Taxation including deferred tax	126,789	108,290
	------------	------------
Net assets	1,154,318	639,969
	------------	------------

Capital and reserves

Called up share capital	10	100	100
Profit and loss account		1,154,218	639,869
		------------	---------
Shareholders funds		1,154,318	639,969
		------------	---------

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Westlands of Perthshire Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Mr. P. Dumitrescu
Director

Company registration number: SC518261

Westlands of Perthshire Ltd

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 160 Atholl Road, Pitlochry, PH16 5AR.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for hotel rooms let during the period.

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.

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	-	2% and 10% Straight line
Furniture and Fittings	-	15% and 25% Reducing balance
Equipment	-	20% and 33.33% Straight line

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price of food and drink purchased but not sold by the reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. The following assets and liabilities are classified as financial instruments - bank deposits, trade creditors, bank loans, accruals and director loans. Bank deposits are measured at the undiscounted amounts held on deposit at the end of the reporting period. Trade creditors are measured at the transaction amount payable to a supplier, which is normally the invoice amount. Bank loan liabilities are calculated and recognised based on loan amortisation tables. Accruals are calculated on the amount expected to be paid after the year end. Directors' loans are measured at the undiscounted amount owing at the end of the reporting period.

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 18 (2024: 14 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	1,774,563	405,060	58,368	2,237,991
Additions	607,643	106,174	43,382	757,199
	------------	---------	---------	------------
At 31 March 2025	2,382,206	511,234	101,750	2,995,190
	------------	---------	---------	------------
Depreciation
At 1 April 2024	149,370	144,424	17,368	311,162
Charge for the year	57,266	56,631	25,981	139,878
	------------	---------	---------	------------
At 31 March 2025	206,636	201,055	43,349	451,040
	------------	---------	---------	------------
Carrying amount
At 31 March 2025	2,175,570	310,179	58,401	2,544,150
	------------	---------	---------	------------
At 31 March 2024	1,625,193	260,636	41,000	1,926,829
	------------	---------	---------	------------

6. Debtors

	2025	2024
	£	£
Trade debtors	5,695	–
Other debtors	53,558	–
	--------	----
	59,253	–
	--------	----

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	54,091	44,404
Trade creditors	23,603	24,351
Social security and other taxes	207,005	89,347
Other creditors	35,986	170,112
	---------	---------
	320,685	328,214
	---------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	1,044,519	907,605
	------------	---------

The company has provided the RBS with fixed securities over the company's premises and a floating charge over all of its assets.

Included within creditors: amounts falling due after more than one year is an amount of £827,201 (2024: £728,397) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

The bank loans are payable by monthly instalments and all have interest charged at bank base rate plus 3%, other than the Bounce back loan, which is charged at 2.5%.

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	126,789	108,290
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	126,789	108,290
	---------	---------

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

100 shares of £1 each were issued and paid on the incorporation of the company.

11. Director's advances, credits and guarantees

On 31 March 2025, Director A and his wife, owed the company £ 37,794 (2024 - £nil). Total advances and credits during the year amounted to £ 788,630 including interest of £700. Total repayments amounted to £ 750,836 . Interest was charged on the advance at 3.0% per annum on the average outstanding balance each month. The loan was repaid in full by 29 September 2025.

12. Related party transactions

The company rents part of the premises to Westlands Inn Ltd, a company controlled by the director's brother-in-law. The company also charges Westlands Inn for its share of the heating costs and for equipment used by it.