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 2020

Period of accounts

Start date: 01 July 2019

End date: 30 June 2020

TIMESHARE AND HOTEL LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2020

Balance sheet
Notes

TIMESHARE AND HOTEL LIMITED

Balance sheet

As at 30 June 2020


Notes
2020
2019


£
£
Fixed assets
Tangible assets: 3 2 2
Investments: 4 420,622 420,622
Total fixed assets: 420,624 420,624
Current assets
Debtors:   36,000
Cash at bank and in hand: 873 2,776
Total current assets: 36,873 2,776
Creditors: amounts falling due within one year:   (399,651) (374,154)
Net current assets (liabilities): (362,778) (371,378)
Total assets less current liabilities: 57,846 49,246
Total net assets (liabilities): 57,846 49,246
Capital and reserves
Called up share capital: 10 10
Profit and loss account: 57,836 49,236
Shareholders funds: 57,846 49,246

The notes form part of these financial statements

TIMESHARE AND HOTEL LIMITED

Balance sheet statements

For the year ending 30 June 2020 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 17 June 2021
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 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

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

Deferred taxDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing differenceInvestmentsInvestments are, is initially recognized 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 2020

2. Employees

2020 2019
Average number of employees during the period 2 2

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2020

3. Tangible Assets

Total
Cost £
At 01 July 2019 2,285
At 30 June 2020 2,285
Depreciation
At 01 July 2019 2,283
At 30 June 2020 2,283
Net book value
At 30 June 2020 2
At 30 June 2019 2

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2020

4. Fixed investments

The company's investments at the balance sheet date are in the share capital of companies incorporated in the UK.

TIMESHARE AND HOTEL LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2020

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 £111,000 (2019 - £108,000).During the year to 30th June 2003, an amount of £258,542 was advanced from the subsidiary company, Kilconquhar Castle Estate Limited. A further advance was received from Kilconquhar Castle Estate Limited in February 2011 for £140,620. The total balance due at 30th June 2020 is £351,624 which comprises the balances above, together with items of expenditure incurred by the subsidiary company on behalf of the parent company to the year-end of 30th June 2020