Company registration number SC581333 (Scotland)
STOER HEAD LIGHTHOUSE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022
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 2022
30 November 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
344,376
354,523
Current assets
Debtors
4
616
489
Cash at bank and in hand
13,742
10,257
14,358
10,746
Creditors: amounts falling due within one year
5
(476,365)
(443,836)
Net current liabilities
(462,007)
(433,090)
Net liabilities
(117,631)
(78,567)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(117,633)
(78,569)
Total equity
(117,631)
(78,567)
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 2022 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.
The 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 16 August 2023
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 2022
- 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 amounts 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 has a reasonable expectation that the company has adequate resources to continue in operation existence for the foreseeable future. For long term finance the company relies on the loans 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 continues 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 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2021 and 30 November 2022
370,472
29,024
399,496
Depreciation and impairment
At 1 December 2021
29,637
15,336
44,973
Depreciation charged in the year
7,409
2,738
10,147
At 30 November 2022
37,046
18,074
55,120
Carrying amount
At 30 November 2022
333,426
10,950
344,376
At 30 November 2021
340,835
13,688
354,523
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
616
489
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
98
2,409
Other creditors
476,267
441,427
476,365
443,836