REGISTERED NUMBER:
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STOER HEAD LIGHTHOUSE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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REGISTERED NUMBER:
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STOER HEAD LIGHTHOUSE LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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STOER HEAD LIGHTHOUSE LIMITED (REGISTERED NUMBER: SC581333) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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STOER HEAD LIGHTHOUSE LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Citypoint 2 |
25 Tyndrum Street |
Glasgow |
G4 0JY |
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BANKERS: |
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23 Sauchiehall Street |
Glasgow |
G2 3AD |
STOER HEAD LIGHTHOUSE LIMITED (REGISTERED NUMBER: SC581333) |
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BALANCE SHEET |
30 NOVEMBER 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
STOER HEAD LIGHTHOUSE LIMITED (REGISTERED NUMBER: SC581333) |
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BALANCE SHEET - continued |
30 NOVEMBER 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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STOER HEAD LIGHTHOUSE LIMITED (REGISTERED NUMBER: SC581333) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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1. | STATUTORY INFORMATION |
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Stoer Head Lighthouse Limited is a private company, limited by shares, registered in Scotland. The company's |
registered number is SC581333 and its registered office is 48 St Vincent Street, Glasgow, G2 5HS. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operation |
existence for the foreseeable future. For long term finance they rely on the loans provided by the directors. In |
assessing going concern they have assumed that these loans will not be repaid for the foreseeable future and, on |
that basis, they continue to adopt the going concern basis of accounting in preparing the annual financial |
statements. |
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In their assessment of going concern the directors have considered the current and developing impact on the |
business as a result of the COVID19 virus. This has meant that reservations have been deferred until a later time |
however the directors will continue to support the company in the short term and are confident that the business |
will return to previous levels when the pandemic subsides. Having regard to the above, the directors continue to |
believe it appropriate to adopt the going concern basis of accounting in preparing the financial statements. |
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The financial statements do not include any adjustments that may result from any significant changes in the |
assumptions noted above in preparing the financial statements on a going concern basis. |
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Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable. |
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Income represents gross income received through the rental of the company's self catering property and is |
recognised once the income has been received from the guest. |
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Tangible fixed assets |
Depreciation of fixed assets is calculated to write off the cost or valuation less any residual value over their |
estimated useful lives as follows: |
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Property | - 2% on cost |
Plant & machinery etc | - 20% on reducing balance |
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Financial instruments |
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Debtors |
Other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable |
amounts when there is objective evidence that the asset is impaired. |
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Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise of cash at bank with a short term of maturity, being |
twelve months or less, from the opening of the deposit or similar account. |
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Creditors |
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a |
past event and are recognised at the settlement amount due after allowing for any trade discounts due. |
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STOER HEAD LIGHTHOUSE LIMITED (REGISTERED NUMBER: SC581333) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
Property | etc | Totals |
£ | £ | £ |
COST |
At 1 December 2018 |
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Additions |
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At 30 November 2019 |
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DEPRECIATION |
At 1 December 2018 |
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Charge for year |
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At 30 November 2019 |
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NET BOOK VALUE |
At 30 November 2019 |
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At 30 November 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors | ( |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
STOER HEAD LIGHTHOUSE LIMITED (REGISTERED NUMBER: SC581333) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2019 |
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8. | SUBSEQUENT EVENTS |
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The Company has evaluated events and transactions occurring subsequent to 30 November 2019 for items that |
should have been recognized or disclosed in these financial statements. The evaluation was conducted through to |
the date of signing these financial statements, which is the date the financial statements were available to be |
issued. |
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The Company identified the following subsequent event: |
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" In December 2019, a novel strain of coronavirus ("COVID-19") surfaced in Wuhan, China, and has spread |
around the world, with resulting business and social disruption around the world. COVID-19 was declared a |
Public Health Emergency of International Concern by the World Health Organization on January 30, 2020. The |
directors will continue to monitor the situation regarding the need to defer bookings and provide additional |
support to the company if required. |