TIMESHARE AND HOTEL LIMITED

TIMESHARE AND HOTEL LIMITED

TIMESHARE AND HOTEL LIMITED - Company Information

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TIMESHARE AND HOTEL LIMITED

Company Registration Number:
SC182211 (Scotland)

Unaudited abridged accounts for the year ended 30 June 2019

Period of accounts

Start date: 01 July 2018

End date: 30 June 2019

TIMESHARE AND HOTEL LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2019

Balance sheet
Notes

TIMESHARE AND HOTEL LIMITED

Balance sheet

As at 30 June 2019


Notes
2019
2018


£
£
Fixed assets
Tangible assets: 3 2 2
Investments: 4 420,622 420,622
Total fixed assets: 420,624 420,624
Current assets
Cash at bank and in hand: 2,776 11,790
Total current assets: 2,776 11,790
Creditors: amounts falling due within one year:   (374,154) (432,351)
Net current assets (liabilities): (371,378) (420,561)
Total assets less current liabilities: 49,246 63
Total net assets (liabilities): 49,246 63
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 49,236 53
Shareholders funds: 49,246 63

The notes form part of these financial statements

TIMESHARE AND HOTEL LIMITED

Balance sheet statements

For the year ending 30 June 2019 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 13 March 2020
and signed on behalf of the board by:

Name: J VANCE
Status: Director

The notes form part of these financial statements

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services supplied

Tangible fixed assets and depreciation policy

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.

Other accounting policies

Corporation TaxThe taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

2. Employees

2019 2018
Average number of employees during the period 2 2

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

3. Tangible Assets

Total
Cost £
At 01 July 2018 2,285
At 30 June 2019 2,285
Depreciation
At 01 July 2018 2,283
At 30 June 2019 2,283
Net book value
At 30 June 2019 2
At 30 June 2018 2

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

4. Fixed investments

Investments are, 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. The surplus or deficit on revaluation is recognized in the profit and loss account.

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2019

5. Related party transactions

During the year the company had transactions with the subsidiary company, Kilconquhar Castle Estate Limited in respect of management services provided. The company owns one hundred percent of Kilconquhar Castle Estate Limited. The total transactions during the year amounted to £108,000 (2018 - £107,714).