C Mountain Lodges Limited Filleted accounts for Companies House (small and micro)

C MOUNTAIN LODGES LIMITED - Company Information

0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,076 2,076 xbrli:pure xbrli:shares iso4217:GBP SC273604 2022-08-01 2023-07-31 SC273604 2023-07-31 SC273604 2022-07-31 SC273604 2021-08-01 2022-07-31 SC273604 2022-07-31 SC273604 2021-07-31 SC273604 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 SC273604 bus:Director1 2022-08-01 2023-07-31 SC273604 core:WithinOneYear 2023-07-31 SC273604 core:WithinOneYear 2022-07-31 SC273604 core:ShareCapital 2023-07-31 SC273604 core:ShareCapital 2022-07-31 SC273604 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC273604 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC273604 bus:SmallEntities 2022-08-01 2023-07-31 SC273604 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC273604 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 SC273604 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC273604 bus:FullAccounts 2022-08-01 2023-07-31 SC273604 bus:OrdinaryShareClass1 2023-07-31 SC273604 bus:OrdinaryShareClass1 2022-07-31 SC273604 core:ComputerEquipment 2022-08-01 2023-07-31 SC273604 core:ComputerEquipment 2023-07-31

COMPANY REGISTRATION NUMBER: SC273604

C Mountain Lodges Limited

Filleted Unaudited Financial Statements

For the year ended

31 July 2023

C Mountain Lodges Limited

Statement of Financial Position

31 July 2023

	2023	2022
Note	£	£

Current assets

Debtors	6	618,174	627,030
Cash at bank and in hand		56,047	34,853
		---------	---------
		674,221	661,883

Creditors: amounts falling due within one year	7	471,301	496,939
		---------	---------
Net current assets		202,920	164,944
		---------	---------
Total assets less current liabilities		202,920	164,944
		---------	---------
Net assets		202,920	164,944
		---------	---------

Capital and reserves

Called up share capital	8	10,000	10,000
Profit and loss account		192,920	154,944
		---------	---------
Shareholders funds		202,920	164,944
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 July 2023 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 30 April 2024 , and are signed on behalf of the board by:

S D Crabb

Director

Company registration number: SC273604

C Mountain Lodges Limited

Notes to the Financial Statements

Year ended 31 July 2023

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 14 Riversdale Crescent, Edinburgh, EH12 5QT.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover represents net invoiced sales of services and goods, excluding value added tax. Turnover is recognised in full when guests arrive at the accommodation or, if a booking is cancelled, at that point and at the amount determined by the standard booking conditions of the company. Other items of turnover are recognised when goods or services are provided.

Taxation

The 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.

Deferred tax is recognised in respect of all timing differences at the reporting 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 difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2022: 1 ).

5. Tangible assets

	Equipment	Total
	£	£

Cost
At 1 August 2022 and 31 July 2023	2,076	2,076
	-------	-------
Depreciation
At 1 August 2022 and 31 July 2023	2,076	2,076
	-------	-------
Carrying amount
At 31 July 2023	–	–
	-------	-------
At 31 July 2022	–	–
	-------	-------

6. Debtors

	2023	2022
	£	£

Trade debtors	–	6,641
Amounts owed by group and connected undertakings.	617,484	620,115
Other debtors	690	274
	---------	---------
	618,174	627,030
	---------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£

Trade creditors	342	–
Amounts owed to group and connected undertakings	209,954	209,954
Corporation tax	–	722
Social security and other taxes	–	881
Other creditors	261,005	285,382
	---------	---------
	471,301	496,939
	---------	---------

8. Called up share capital

Issued, called up and fully paid

2023		2022
No.	£	No.	£

Ordinary shares of £ 1 each	10,000	10,000	10,000	10,000
	--------	--------	--------	--------

9. Related party transactions

As at 31 July, the company was owed £617,484 (2022: £630,115) by companies in which R Rennie, J Rennie and S Crabb are also directors. As at 31 July, the company owed £209,954 (2022: £209,954) to companies in which R Rennie, J Rennie and S Crabb are also directors. These loans are interest free with no fixed repayment terms.