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Registered number: SC605395
New Town Guest House Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2025
Sense Accounting Limited
36 Bruntsfield Place
Edinburgh
EH10 4HJ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: SC605395
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,345,636 45,569
1,345,636 45,569
CURRENT ASSETS
Stock 5 1,000 1,000
Debtors 6 206,226 191,712
Cash at bank and in hand 39,552 2,202
246,778 194,914
Creditors: Amounts Falling Due Within One Year 7 (214,020 ) (84,269 )
NET CURRENT ASSETS (LIABILITIES) 32,758 110,645
TOTAL ASSETS LESS CURRENT LIABILITIES 1,378,394 156,214
Creditors: Amounts Falling Due After More Than One Year 8 (1,156,132 ) (7,910 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,164 ) (1,234 )
NET ASSETS 218,098 147,070
CAPITAL AND RESERVES
Called up share capital 9 60,000 60,000
Profit and Loss Account 158,098 87,070
SHAREHOLDERS' FUNDS 218,098 147,070
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For the year ending 31 August 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs I Clark
Director
27 August 2026
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
New Town Guest House Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC605395 . The registered office is 22 St. Bernards Crescent, Edinburgh, City Of Edinburgh, EH4 1NS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight Line
Leasehold 15% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 3)
2 3
4. Tangible Assets
Land & Property
Freehold Leasehold Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2024 - 60,000 15,609 75,609
Additions 1,337,973 - 12,000 1,349,973
Disposals - (60,000 ) - (60,000 )
As at 31 August 2025 1,337,973 - 27,609 1,365,582
Depreciation
As at 1 September 2024 - 23,153 6,887 30,040
Provided during the period 11,150 3,224 1,909 16,283
Disposals - (26,377 ) - (26,377 )
As at 31 August 2025 11,150 - 8,796 19,946
Net Book Value
As at 31 August 2025 1,326,823 - 18,813 1,345,636
As at 1 September 2024 - 36,847 8,722 45,569
5. Stock
2025 2024
£ £
Stock 1,000 1,000
6. Debtors
2025 2024
£ £
Due within one year
Prepayments and accrued income - 971
Other debtors 89,246 86,246
Corporation tax recoverable assets 48,694 42,393
Directors' loan accounts 71,437 62,102
209,377 191,712
...CONTINUED
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Due after more than one year
Corporation tax recoverable assets (3,151 ) -
206,226 191,712
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1 -
Bank loans and overdrafts 18,120 10,311
Corporation tax 41,441 35,143
Other taxes and social security 631 1,483
VAT 20,052 30,683
Other creditors 25 -
Accruals and deferred income 13,750 6,649
Directors' loan accounts 120,000 -
214,020 84,269
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 1,156,132 7,910
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 60,000 60,000
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2024 Amounts advanced Amounts repaid Amounts written off As at 31 August 2025
£ £ £ £ £
Mrs Iride Clark 62,102 35,336 (26,001 ) - 71,737
The above loan is unsecured, interest free and repayable on demand.
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11. Related Party Transactions
At the balance sheet date the company was owed £27,144 (2024: £24,144) by Richmond House Hotel Limited, a company in which Mrs I Clark, a director is also a director. This loan is unsecured, interest-free and has no fixed terms of repayment.
At the balance sheet date, the company owed the director, Dr A Bieliunaite, £120,000 (2024: £nil).
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