Hotel Hebrides Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC441524 (Scotland)

HOTEL HEBRIDES LTD

Financial Statements for the Year Ended 31 March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J Macleod

SECRETARY:

Mrs C Macleod

REGISTERED OFFICE:

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

REGISTERED NUMBER:

SC441524 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Intangible assets

5

12,000

24,000

Tangible assets

6

517,686

528,874

529,686

552,874

CURRENT ASSETS

Stocks

8,543

8,557

Debtors

7

74,890

187,098

Cash at bank and in hand

1,613

67,969

85,046

263,624

CREDITORS

Amounts falling due within one year

8

134,585

108,777

NET CURRENT (LIABILITIES)/ASSETS

(49,539

)

154,847

TOTAL ASSETS LESS CURRENT LIABILITIES

480,147

707,721

CREDITORS

Amounts falling due after more than one year

9

(232,325

)

(444,797

)

ACCRUALS AND DEFERRED INCOME

(34,905

)

-

NET ASSETS

212,917

262,924

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

212,817

262,824

SHAREHOLDERS' FUNDS

212,917

262,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2023 and were signed by:

A J Macleod - Director

1.	STATUTORY INFORMATION

Hotel Hebrides Ltd 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 financial statements are rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% depreciation on cost

Fixtures and fittings

-

10% depreciation on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 32 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

120,000

AMORTISATION

At 1 April 2022

96,000

Charge for year

12,000

At 31 March 2023

108,000

NET BOOK VALUE

At 31 March 2023

12,000

At 31 March 2022

24,000

6.	TANGIBLE FIXED ASSETS

Freehold

Long

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 April 2022

333,851

73,027

143,337

Additions

-

46,276

-

At 31 March 2023

333,851

119,303

143,337

DEPRECIATION

At 1 April 2022

54,513

2,351

37,582

Charge for year

13,354

2,921

26,630

At 31 March 2023

67,867

5,272

64,212

NET BOOK VALUE

At 31 March 2023

265,984

114,031

79,125

At 31 March 2022

279,338

70,676

105,755

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2022

149,410

1,550

701,175

Additions

-

458

46,734

At 31 March 2023

149,410

2,008

747,909

DEPRECIATION

At 1 April 2022

76,305

1,550

172,301

Charge for year

14,941

76

57,922

At 31 March 2023

91,246

1,626

230,223

NET BOOK VALUE

At 31 March 2023

58,164

382

517,686

At 31 March 2022

73,105

-

528,874

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

196

3,029

Amounts owed by group undertakings

-

108,469

Other debtors

74,694

75,600

74,890

187,098

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

62,945

15,000

Trade creditors

13,097

23,673

Amounts owed to group undertakings

41,191

-

Taxation and social security

9,717

19,083

Other creditors

7,635

51,021

134,585

108,777

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

196,824

213,997

Other creditors

35,501

230,800

232,325

444,797

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

114,319

130,352

10.	RELATED PARTY DISCLOSURES

The hotel premises is rented from Angus J Macleod, director. Rent of £47,240 was charged to the company by the director in the year.

At the year end the company owed the sum of £41,191 to Kirklea Cottages Limited. No interest was charged on the outstanding balance. No fixed repayment terms are in place.