Company No: SC550561 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	3	1,484,995		1,472,997
		1,484,995		1,472,997
Current assets
Stocks		11,795		11,201
Debtors	4	609,767		451,603
Cash at bank and in hand		62,046		105,786
		683,608		568,590
Creditors: amounts falling due within one year	5	( 920,787)		( 912,220)
Net current liabilities		(237,179)		(343,630)
Total assets less current liabilities		1,247,816		1,129,367
Creditors: amounts falling due after more than one year	6	( 202,666)		( 272,194)
Provision for liabilities	7	( 69,512)		( 63,562)
Net assets		975,638		793,611
Capital and reserves
Called-up share capital	8	2		2
Profit and loss account		975,636		793,609
Total shareholders' funds		975,638		793,611

For the financial year ending 30 April 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Moorings Hotel Limited (registered number: SC550561) were approved and authorised for issue by the Board of Directors on 09 October 2026. They were signed on its behalf by:

T G Paterson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Moorings Hotel Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Garfield Hotel Cumbernauld Road, Stepps, Glasgow, G33 6HW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised at the point in which the company fulfils its contractual obligation to the customer. Deposits received for future events are deferred until the service has been provided.

Turnover for bar and restaurant sales is recognised when goods are received by customers. Turnover for hotel nights or functions is recognised when customers receive these services.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery etc.	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from related companies are recognised at transaction price.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	36		33

3. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 May 2025	1,401,143		361,994		1,763,137
Additions	0		39,949		39,949
At 30 April 2026	1,401,143		401,943		1,803,086
Accumulated depreciation
At 01 May 2025	0		290,140		290,140
Charge for the financial year	0		27,951		27,951
At 30 April 2026	0		318,091		318,091
Net book value
At 30 April 2026	1,401,143		83,852		1,484,995
At 30 April 2025	1,401,143		71,854		1,472,997

4. Debtors

	2026		2025
	£		£
Trade debtors	8,528		20,709
Amounts owed by related parties	522,876		355,208
Other debtors	78,363		75,686
	609,767		451,603

5. Creditors: amounts falling due within one year

	2026		2025
	£		£
Bank loans	81,120		81,120
Trade creditors	176,690		144,005
Taxation and social security	143,230		169,622
Other creditors	519,747		517,473
	920,787		912,220

The bank loan is secured by a fixed and a floating charge over all the property and undertakings of the company.

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

	2026		2025
	£		£
Bank loans	202,666		272,194

The bank loan is secured by a fixed and a floating charge over all the property and undertakings of the company.

7. Provision for liabilities

	2026		2025
	£		£
Deferred tax	69,512		63,562

8. Called-up share capital

	2026		2025
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1
1 Ordinary B share of £ 1.00	1		1
	2		2

9. Related party transactions

Transactions with the entity's directors

	2026		2025
	£		£
Directors Loan Account	426,925		438,201

This loan is interest free and has no fixed repayment terms.

Other related party transactions

	2026		2025
	£		£
Amounts owed by related parties	522,876		355,208

This loan is interest free and has no fixed repayment terms.

10. Ultimate controlling party

The company's ultimate controlling party is Moorings Hotel Holdings Limited.