Company registration number SC581333 (Scotland)
STOER HEAD LIGHTHOUSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
PAGES FOR FILING WITH REGISTRAR
STOER HEAD LIGHTHOUSE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
STOER HEAD LIGHTHOUSE LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2021
30 November 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
354,523
361,326
Current assets
Debtors
4
489
1,792
Cash at bank and in hand
10,257
9,437
10,746
11,229
Creditors: amounts falling due within one year
5
(443,836)
(442,325)
Net current liabilities
(433,090)
(431,096)
Net liabilities
(78,567)
(69,770)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(78,569)
(69,772)
Total equity
(78,567)
(69,770)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 November 2022
M M RIOUST DE LARGENTAYE
M M Rioust De Largentaye
Director
Company Registration No. SC581333
STOER HEAD LIGHTHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 2 -
1
Accounting policies
Company information
Stoer Head Lighthouse Limited is a
private
company
limited by shares
incorporated in
Scotland
.
The registered office is
48 St Vincent Street, Glasgow, G2 5HS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director
true
has
a reasonable expectation that the company has adequate resources to continue in
o
peration existence for
the foreseeable future. For long term finance the
company
rel
ies
on the loan
s
provided by the director. In assessing going concern
the
director has
assumed that these loans will not be repaid for the foreseeable future and, on that basis,
the director
continue
s
to adopt
the going concern basis of accounting in preparing the annual financial statements.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable.
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.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% straight line
Fixtures and fittings
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash
held in the bank.
1.6
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
STOER HEAD LIGHTHOUSE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2021
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2020
370,472
25,440
395,912
Additions
3,584
3,584
At 30 November 2021
370,472
29,024
399,496
Depreciation and impairment
At 1 December 2020
22,228
12,358
34,586
Depreciation charged in the year
7,409
2,978
10,387
At 30 November 2021
29,637
15,336
44,973
Carrying amount
At 30 November 2021
340,835
13,688
354,523
At 30 November 2020
348,244
13,082
361,326
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
489
1,792
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
2,409
91
Other creditors
441,427
442,234
443,836
442,325