ACCOUNTS - Final Accounts preparation

Registered number: SC712772

HOLIDAY LETS SCOTLAND LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2025

HOLIDAY LETS SCOTLAND LIMITED

REGISTERED NUMBER: SC712772

BALANCE SHEET

AS AT 31 OCTOBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	3		784		1,282
Investment property			371,086		364,100
			371,870		365,382
Current assets
Cash at bank and in hand	5	11,585		5,741
		11,585		5,741
Creditors: amounts falling due within one year	6	(6,106)		(2,730)
Net current assets			5,479		3,011
Total assets less current liabilities			377,349		368,393
Creditors: amounts falling due after more than one year	7		(402,805)		(394,305)
Provisions for liabilities
Deferred tax		(10,563)		(8,941)
			(10,563)		(8,941)
Net liabilities			(36,019)		(34,853)

Capital and reserves
Called up share capital	8	100	100
Profit and loss account		(36,119)	(34,953)
		(36,019)	(34,853)

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HOLIDAY LETS SCOTLAND LIMITED

REGISTERED NUMBER: SC712772

BALANCE SHEET (CONTINUED)

AS AT 31 OCTOBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 July 2026.

J F Nicolson

Director

Company registration number SC712772 (Scotland)

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HOLIDAY LETS SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.Accounting policies

1.1

Company information

Holiday Lets Scotland Limited is a private company limited by shares incorporated in Scotland. The registered office is 6 St Colme Street, Edinburgh, EH3 6AD.

1.2

Accounting convention

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. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment property at fair value. The principal accounting policies adopted are set out below.

1.3

Going Concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for holiday let services provided in the normal course of business.

1.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

20%

Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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HOLIDAY LETS SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.Accounting policies (continued)

1.6

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.7

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its finanical instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

1.11

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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HOLIDAY LETS SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1.Accounting policies (continued)

1.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

1.13

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employement of an employee or to provide termination benefits.

Employees

The average monthly number of employees, including directors, during the year was 2 (2024 - 2).

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HOLIDAY LETS SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

3.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 November 2024	2,490
	At 31 October 2025	2,490
	Depreciation
	At 1 November 2024	1,208
	Charge for the year on owned assets	498
	At 31 October 2025	1,706
	Net book value
	At 31 October 2025	784
	At 31 October 2024	1,282

4.	Investment property
		2025
		£


	Fair value at 1 November 2024 and 31 October 2025	364,100
	Additions	6,986
		371,086

Investment property comprises 49 Birch Grove, Boat of Garten. The investment property was valued by the director on an open market basis at 31 October 2025.

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HOLIDAY LETS SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

5.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	11,585	5,741
	11,585	5,741

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Accruals and deferred income	6,106	2,730
	6,106	2,730

7.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	206,005	206,005
Other loans	196,800	188,300
	402,805	394,305

Cumberland Building Society has registered a charge over 49 Birch Grove, Boat of Garten.

8.	Called up share capital
		2025	2024
		£	£

Issued and fully paid

Ordinary Class A shares of £1.00 each	40	40
Ordinary Class B shares of £1.00 each	40	40
Ordinary Class C shares of £1.00 each	5	5
Ordinary Class D shares of £1.00 each	5	5
Ordinary Class E shares of £1.00 each	5	5
Ordinary Class F shares of £1.00 each	5	5

	100	100

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HOLIDAY LETS SCOTLAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

9.	Related party transactions

The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and therefore do not need to be disclosed under FRS 102 section 1A appendix C.

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