Company Registration No. SC512244 (Scotland)
Morsgail Estate Limited
Unaudited accounts
for the year ended 31 December 2025
Morsgail Estate Limited
Unaudited accounts
Contents
Morsgail Estate Limited
Company Information
for the year ended 31 December 2025
Directors
Kenneth Thomas Murray
Rachael Anne Scarr-Hall
Company Number
SC512244 (Scotland)
Registered Office
Gillespie Macandrew
5 Atholl Crescent
Edinburgh
Midlothian
EH3 8EJ
Scotland
Accountants
Taxnfacts Ltd
Timbuckthree
9 New Tolsta
Isle of Lewis
HS2 0NN
Morsgail Estate Limited
Statement of financial position
as at 31 December 2025
Tangible assets
4,464,073
4,434,119
Cash at bank and in hand
7,519
13,281
Creditors: amounts falling due within one year
(184,889)
(82,439)
Net current liabilities
(104,629)
(3,834)
Total assets less current liabilities
4,359,444
4,430,285
Creditors: amounts falling due after more than one year
(5,232,993)
(5,011,050)
Net liabilities
(873,549)
(580,765)
Called up share capital
1,100,000
1,100,000
Profit and loss account
(1,973,549)
(1,680,765)
Shareholders' funds
(873,549)
(580,765)
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2026 and were signed on its behalf by
Rachael Anne Scarr-Hall
Director
Company Registration No. SC512244
Morsgail Estate Limited
Notes to the Accounts
for the year ended 31 December 2025
Morsgail Estate Limited is a private company, limited by shares, registered in Scotland, registration number SC512244. The registered office is Gillespie Macandrew, 5 Atholl Crescent, Edinburgh, Midlothian, EH3 8EJ, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% on cost, land not depreciated
Plant & machinery
4- 20% on cost
Motor vehicles
25% straight line
Fixtures & fittings
10 - 25% on cost
Computer equipment
33% straight line
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover represents income from accommodation and sporting activities.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
At the accounting reference date the company had net current liabilities of £873,549 (2024 net current liabilities: £580,765). At the time of approving the financial statements, the directors considers the company has the support of its funders and owners. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future, and that the company has sufficient resources available to continue trading through this period and for at least the next twelve months.
Morsgail Estate Limited
Notes to the Accounts
for the year ended 31 December 2025
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is five years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired.
4
Intangible fixed assets
Goodwill
At 31 December 2025
43,000
At 31 December 2025
43,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 January 2025
4,393,572
66,180
25,662
96,712
83
4,582,209
Additions
37,367
705
-
12,338
77
50,487
At 31 December 2025
4,430,939
66,885
25,662
109,050
160
4,632,696
At 1 January 2025
6,750
52,057
14,618
74,591
74
148,090
Charge for the year
750
4,875
3,440
11,458
10
20,533
At 31 December 2025
7,500
56,932
18,058
86,049
84
168,623
At 31 December 2025
4,423,439
9,953
7,604
23,001
76
4,464,073
At 31 December 2024
4,386,822
14,123
11,044
22,121
9
4,434,119
Amounts falling due within one year
Amounts due from group undertakings etc.
45,231
45,000
Accrued income and prepayments
26,715
22,354
Morsgail Estate Limited
Notes to the Accounts
for the year ended 31 December 2025
7
Creditors: amounts falling due within one year
2025
2024
Trade creditors
3,102
(4,454)
Amounts owed to group undertakings and other participating interests
95,911
38,249
Taxes and social security
4,789
3,931
Deferred income
34,775
27,219
8
Creditors: amounts falling due after more than one year
2025
2024
Amounts owed to group undertakings and other participating interests
4,663,510
4,441,567
Other creditors
569,483
569,483
The company is a subsidiary of Reasort Estates Limited, a company registered in Scotland.
10
Average number of employees
During the year the average number of employees was 3 (2024: 3).