REGISTERED NUMBER:
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STIRLING INNS LTD. |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31ST OCTOBER 2016 |
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REGISTERED NUMBER:
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STIRLING INNS LTD. |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31ST OCTOBER 2016 |
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STIRLING INNS LTD. (REGISTERED NUMBER: SC190222) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31ST OCTOBER 2016 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Abbreviated Balance Sheet | 3 |
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Notes to the Abbreviated Accounts | 5 |
STIRLING INNS LTD. |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST OCTOBER 2016 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
STIRLING INNS LTD. |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages |
three to seven) have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Stirling Inns Ltd. for the year ended 31st October 2016 which comprise the Profit and |
Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance. |
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This report is made solely to the Board of Directors of Stirling Inns Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Stirling Inns Ltd. and state those matters that we have agreed to state to the Board of Directors of Stirling Inns Ltd., as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Stirling Inns Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stirling Inns Ltd.. You consider that Stirling Inns Ltd. is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Stirling Inns Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
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26th May 2017 |
STIRLING INNS LTD. (REGISTERED NUMBER: SC190222) |
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ABBREVIATED BALANCE SHEET |
31ST OCTOBER 2016 |
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31.10.16 | 31.10.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
5 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Share premium |
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Revaluation reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
STIRLING INNS LTD. (REGISTERED NUMBER: SC190222) |
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ABBREVIATED BALANCE SHEET - continued |
31ST OCTOBER 2016 |
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The financial statements were approved by the Board of Directors on
behalf by: |
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STIRLING INNS LTD. (REGISTERED NUMBER: SC190222) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31ST OCTOBER 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention as modified by the |
revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities |
(effective January 2015). |
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Turnover |
The turnover shown in the profit and loss account represents rental and other income receivable for the |
period. |
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Tangible fixed assets |
All fixed assets are initially recorded at cost. |
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Investment properties |
Investment properties are shown at their open market value. The surplus or deficit arising from the annual |
revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an |
individual investment property is expected to be permanent, in which case it is recognised in the profit and |
loss account for the year. |
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This is in accordance with the FRSSE which, unlike Company Law, does not require depreciation of |
investment properties. Investment properties are held for their investment potential and not for use by the |
company and so their current value is of prime importance. The departure from the provisions of the Act is |
required in order to give a true and fair view. |
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Deferred tax |
Deferred tax arises as a result of including items of income and expenditure in taxation computations in |
periods different from those in which they are included in the company's financial statements and the |
provision. Deferred tax is provided in full on timing differences which result in an obligation to pay more |
tax, or a right to pay less tax, at a future date at the average tax rates that are expected to apply when the |
timing differences reverse, based on current tax rates and laws. |
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Depreciation |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the |
useful economic life of that asset as follows: |
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Fixtures & equipment - 10-25% straight line |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual |
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is |
any contract that evidences a residual interest in the assets of the company after deducting all of its |
liabilities. |
STIRLING INNS LTD. (REGISTERED NUMBER: SC190222) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1st November 2015 |
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Additions |
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At 31st October 2016 |
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DEPRECIATION |
At 1st November 2015 |
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Charge for year |
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At 31st October 2016 |
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NET BOOK VALUE |
At 31st October 2016 |
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At 31st October 2015 | 10,120 |
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3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
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COST |
At 1st November 2015 |
and 31st October 2016 |
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NET BOOK VALUE |
At 31st October 2016 |
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At 31st October 2015 |
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The company's investments at the Balance Sheet date in the share capital of companies include the |
following: |
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Joint venture |
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Country of incorporation:
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Nature of business:
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Class of shares: | holding |
Ordinary |
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31.10.16 | 31.5.15 |
£ | £ |
Aggregate capital and reserves | ( |
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Profit for the year |
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25,087 |
STIRLING INNS LTD. (REGISTERED NUMBER: SC190222) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2016 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1st November 2015 |
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Revaluations | ( |
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At 31st October 2016 |
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NET BOOK VALUE |
At 31st October 2016 |
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At 31st October 2015 |
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5. | CREDITORS |
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Creditors include an amount of £
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They also include the following debts falling due in more than five years: |
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31.10.16 | 31.10.15 |
£ | £ |
Repayable otherwise than by instalments |
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Repayable by instalments |
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373,937 | 373,903 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.16 | 31.10.15 |
value: | £ | £ |
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Ordinary shares of £1 each | £1 |
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Ordinary A | £1 |
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Ordinary B | £1 |
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Ordinary C | £1 |
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