REGISTERED NUMBER: SC058703 (Scotland)

Financial Statements for the Year Ended 31 December 2025

for

Highland Travel Inns Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Russell

S Ryan

C Russell

SECRETARY:

J Russell

REGISTERED OFFICE:

80 High Street

Fochabers

Morayshire

IV32 7DH

REGISTERED NUMBER:

SC058703 (Scotland)

ACCOUNTANTS:

Reid & Fraser

Chartered Accountants

15 Princes Street

Thurso

Caithness

KW14 7BQ

BANKERS:

Bank of Scotland

90 High Street

Elgin

Morayshire

IV30 1BJ

FIXED ASSETS

Tangible assets

4

186,538

201,755

Investment property

5

928,125

928,125

1,114,663

1,129,880

CURRENT ASSETS

Stocks

45,812

36,903

Debtors

6

34,660

66,515

Cash at bank and in hand

190,106

184,260

270,578

287,678

CREDITORS

Amounts falling due within one year

7

(817,154

)

(831,784

)

NET CURRENT LIABILITIES

(546,576

)

(544,106

)

TOTAL ASSETS LESS CURRENT LIABILITIES

568,087

585,774

CREDITORS

Amounts falling due after more than one year

8

-

(4,167

)

PROVISIONS FOR LIABILITIES

9

(22,376

)

(29,848

)

NET ASSETS

545,711

551,759

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

520,711

526,759

SHAREHOLDERS' FUNDS

545,711

551,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 September 2026 and were signed on its behalf by:

C Russell - Director

1.	STATUTORY INFORMATION

Highland Travel Inns Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The monetary amounts included in the accounts are rounded to the nearest Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover comprises revenue earned from the supply of accommodation, restaurant and bar sales.

TANGIBLE FIXED ASSETS

All assets are initially recorded at cost. Tangible fixed assets, are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Freehold property

1% and 10% straight line

Leasehold property

10% straight line

Plant and machinery

20% straight line

Motor vehicles

25% reducing balance

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

FINANCIAL INSTRUMENTS

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price, including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through the profit and loss account, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the profit and loss account.

Derecognition of financial asset

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to a third party.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the the debt instrument is measure at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measure at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire, are discharged or are cancelled.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GOVERNMENT GRANTS

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets. Grants of a revenue nature are credited to the profit and loss account so as to match them with the expenditure to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2024 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Plant and

Motor

property

machinery

vehicles

Totals

£

£

£

£

COST

At 1 January 2025

264,879

315,051

1,667

581,597

Additions

4,696

5,730

-

10,426

Disposals

-

(3,550

)

-

(3,550

)

At 31 December 2025

269,575

317,231

1,667

588,473

DEPRECIATION

At 1 January 2025

101,287

277,417

1,138

379,842

Charge for year

8,198

15,603

132

23,933

Eliminated on disposal

-

(1,840

)

-

(1,840

)

At 31 December 2025

109,485

291,180

1,270

401,935

NET BOOK VALUE

At 31 December 2025

160,090

26,051

397

186,538

At 31 December 2024

163,592

37,634

529

201,755

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

and 31 December 2025

928,125

NET BOOK VALUE

At 31 December 2025

928,125

At 31 December 2024

928,125

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

7,170

Other debtors

7,787

19,000

Prepayments

26,873

40,345

34,660

66,515

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

4,167

10,000

Trade creditors

50,818

76,938

Amounts owed to group undertakings

39,646

39,646

Other creditors

57,399

42,606

Amount due to parent undertaking

657,873

657,873

Accruals and deferred income

7,251

4,721

817,154

831,784

Included in other creditors are amounts due in respect of taxation and social security of £47,966 (2024 - £40,123). Also included in other creditors are amounts due in respect of accrued pension contributions of £653 (2024 - £627).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

4,167

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

9,176

11,927

Other provisions

13,200

17,921

22,376

29,848

Holiday

Deferred

pay

tax

accrued

£

£

Balance at 1 January 2025

11,927

17,921

Provided during year

-

13,200

Credit to Income Statement during year

(2,751

)

-

Reversed during the year

-

(17,921

)

Balance at 31 December 2025

9,176

13,200

Other provisions represents holiday balances accrued as a result of services rendered in the current period and which employees are entitled to carry forward. The provision is measured as the salary cost for the period of absence.

10.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary undertaking of Morven Holdings Limited (registered office - 80 High Street, Fochabers, Morayshire) which owns 100% of the issued share capital.