Company registration number:
SC476328
Inglewood House Limited
Unaudited filleted financial statements
31 March 2023
Inglewood House Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Inglewood House Limited
Directors and other information
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Director |
Mr E Campbell |
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Secretary |
Mr S Campbell |
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Company number |
SC476328 |
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Registered office |
Inglewood House |
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Tullibody Road |
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Alloa |
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Clackmannanshire |
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FK10 2HU |
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Accountants |
Arm in Arm Accounting Limited |
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Herkimer House |
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Mill Road Industrial Estate |
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Linlithgow |
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EH49 7SF |
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Inglewood House Limited
Statement of financial position
31 March 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Intangible assets |
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6 |
- |
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- |
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Tangible assets |
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7 |
1,428,751 |
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1,401,990 |
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_______ |
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_______ |
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1,428,751 |
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1,401,990 |
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Current assets |
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Stocks |
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8 |
16,680 |
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19,000 |
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Debtors |
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9 |
9,974 |
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274,644 |
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Cash at bank and in hand |
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711,038 |
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427,257 |
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_______ |
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_______ |
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737,692 |
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720,901 |
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Creditors: amounts falling due |
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within one year |
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10 |
(
704,329) |
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(
947,784) |
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_______ |
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_______ |
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Net current assets/(liabilities) |
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33,363 |
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(
226,883) |
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_______ |
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Total assets less current liabilities |
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1,462,114 |
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1,175,107 |
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Provisions for liabilities |
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(
44,108) |
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(
66,523) |
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_______ |
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Net assets |
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1,418,006 |
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1,108,584 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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1 |
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1 |
Profit and loss account |
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1,418,005 |
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1,108,583 |
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_______ |
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_______ |
Shareholder funds |
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1,418,006 |
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1,108,584 |
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_______ |
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_______ |
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For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
28 December 2023
, and are signed on behalf of the board by:
Mr E Campbell
Director
Company registration number:
SC476328
Inglewood House Limited
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Inglewood House, Tullibody Road, Alloa, Clackmannanshire, FK10 2HU.
2.
Accounting policies
Basis of preparation
The 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. The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information in making his assessment.
Turnover
Turnover is measured at fair value of the consideration received or receivable in relation to hotel, restaurant and spa activities, excluding discounts, rebates, value added tax and other sales tax.
Taxation
Taxation for the year comprises current and ferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 meaasured 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 liabilties 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - at varying rates on cost and between fifteen and thirty years
Plant and machinery - at varying rates on cost and between two and five years
Fixtures and fittings - 20% per annum 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.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
3.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
56
(2022:
56
).
5.
Tax on profit
Major components of tax expense
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2023 |
2022 |
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£ |
£ |
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Current tax: |
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UK current tax expense |
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56,889 |
127,472 |
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_______ |
_______ |
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Tax on profit |
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56,889 |
127,472 |
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_______ |
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6.
Intangible assets
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Other intangible assets |
Total |
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£ |
£ |
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Cost |
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At 1 April 2022 and 31 March 2023 |
7,995 |
7,995 |
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_______ |
_______ |
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Amortisation |
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At 1 April 2022 and 31 March 2023 |
7,995 |
7,995 |
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_______ |
_______ |
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Carrying amount |
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At 31 March 2023 |
- |
- |
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_______ |
_______ |
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At 31 March 2022 |
- |
- |
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_______ |
_______ |
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Carrying amount
Carrying amount
10.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Trade creditors |
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104,304 |
44,625 |
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Corporation tax |
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80,441 |
128,149 |
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Social security and other taxes |
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89,975 |
110,030 |
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Other creditors |
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429,609 |
664,980 |
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_______ |
_______ |
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704,329 |
947,784 |
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_______ |
_______ |
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11.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
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2023 |
2022 |
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£ |
£ |
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Included in provisions (note ) |
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44,108 |
66,523 |
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_______ |
_______ |
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