Ardnamurchan Escapes Ltd - Filleted accounts

Ardnamurchan Escapes Ltd - Filleted accounts


Registered number
SC694406
Ardnamurchan Escapes Ltd
Unaudited Filleted Accounts
31 March 2023
Ardnamurchan Escapes Ltd
Registered number: SC694406
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,566 1,939
Current assets
Debtors 4 1,125 1,701
Cash at bank and in hand 67,549 66,517
68,674 68,218
Creditors: amounts falling due within one year 5 (64,999) (69,485)
Net current assets/(liabilities) 3,675 (1,267)
Total assets less current liabilities 5,241 672
Creditors: amounts falling due after more than one year 6 (227) (407)
Net assets 5,014 265
Capital and reserves
Called up share capital 10 10
Profit and loss account 5,004 255
Shareholders' funds 5,014 265
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Shane McGlinchey
Director
Approved by the board on 31 March 2024
Ardnamurchan Escapes Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. 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 evenly over its expected useful life, as follows:
Office equipment including office chairs & desks over 10 years
Office equipment including computer equipment over 4 years
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 April 2022 2,140
At 31 March 2023 2,140
Depreciation
At 1 April 2022 201
Charge for the year 373
At 31 March 2023 574
Net book value
At 31 March 2023 1,566
At 31 March 2022 1,939
4 Debtors 2023 2022
£ £
Prepayments 1,125 1,701
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors' Loan Account 4,515 8,404
Accruals 993 1,677
Trade Creditors 51 144
Deferred Income 50,410 42,354
Corporation Tax 1,524 427
Deferred Tax 71 71
Other creditors 7,435 16,408
64,999 69,485
6 Creditors: amounts falling due after one year 2023 2022
£ £
Deferred Tax 227 407
7 Related party transactions
At the year end the directors, Robert Bryson & Shane McGlinchey, were owed £4,515 (2022: £8,404) by the company, in equal share. No interest has been charged in the year on this outstanding amount.
8 Other information
Ardnamurchan Escapes Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
The Bungalow
Portuairk
Acharacle
PH36 4LN
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