Glen Nevis Holidays Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC092421 (Scotland)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2018

FOR

GLEN NEVIS HOLIDAYS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E A Cameron

J E Cameron

R J McCready

M Cooke

SECRETARY:

E A Cameron

REGISTERED OFFICE:

Glen Nevis

FORT WILLIAM

Inverness Shire

PH33 6SX

REGISTERED NUMBER:

SC092421 (Scotland)

ACCOUNTANTS:

R A Clement Associates

5 Argyll Square

Oban

Argyll

PA34 4AZ

FIXED ASSETS

Tangible assets

4

2,667,111

2,264,035

Investments

5

175

175

2,667,286

2,264,210

CURRENT ASSETS

Stocks

48,158

35,837

Debtors

6

41,555

80,397

Cash at bank and in hand

223,977

148,309

313,690

264,543

CREDITORS

Amounts falling due within one year

7

304,981

353,236

NET CURRENT ASSETS/(LIABILITIES)

8,709

(88,693

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,675,995

2,175,517

CREDITORS

Amounts falling due after more than one year

8

(284,231

)

(16,557

)

PROVISIONS FOR LIABILITIES

(87,907

)

(78,530

)

NET ASSETS

2,303,857

2,080,430

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

406,351

406,351

Other reserves

15

15

Retained earnings

1,897,391

1,673,964

SHAREHOLDERS' FUNDS

2,303,857

2,080,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 11 July 2018 and were signed on its behalf by:

E A Cameron - Director

1.	STATUTORY INFORMATION

Glen Nevis Holidays Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Tangible fixed assets

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

Freehold property

-

Nil

Caravans

-

10% on reducing balance

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Income Statement, 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.

Government grants

Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the

assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2017 - 90 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

Caravans

machinery

£

£

£

COST

At 1 February 2017

2,389,281

624,230

894,054

Additions

437,616

43,347

25,142

At 31 January 2018

2,826,897

667,577

919,196

DEPRECIATION

At 1 February 2017

837,716

356,320

700,692

Charge for year

-

31,126

43,701

At 31 January 2018

837,716

387,446

744,393

NET BOOK VALUE

At 31 January 2018

1,989,181

280,131

174,803

At 31 January 2017

1,551,565

267,910

193,362

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2017

893,788

255,912

12,527

5,069,792

Additions

8,929

25,895

-

540,929

At 31 January 2018

902,717

281,807

12,527

5,610,721

DEPRECIATION

At 1 February 2017

671,398

231,445

8,186

2,805,757

Charge for year

46,264

12,591

4,171

137,853

At 31 January 2018

717,662

244,036

12,357

2,943,610

NET BOOK VALUE

At 31 January 2018

185,055

37,771

170

2,667,111

At 31 January 2017

222,390

24,467

4,341

2,264,035

The directors have decided that it is no longer appropriate to depreciate property.

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2018

2017

£

£

Shareholding

175

175

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,006

2,064

Other debtors

40,549

78,333

41,555

80,397

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

82,901

-

Trade creditors

156,444

229,413

Taxation and social security

46,000

8,270

Other creditors

19,636

115,553

304,981

353,236

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

268,283

-

Other creditors

15,948

16,557

284,231

16,557

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

351,184

-

The Royal bank of Scotland PLC hold a bond and floating charge over the assets of the company.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year director E A Cameron received £5,000 (2017 - £5,000) from the company for the rent of

property.