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Unaudited Financial Statements for the Year Ended 31 January 2021 |
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Cairn Hotel (Bathgate) Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 January 2021 |
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for |
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Cairn Hotel (Bathgate) Limited |
Cairn Hotel (Bathgate) Limited (Registered number: SC628787) |
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Contents of the Financial Statements |
for the Year Ended 31 January 2021 |
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Page |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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Cairn Hotel (Bathgate) Limited (Registered number: SC628787) |
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Balance Sheet |
31 January 2021 |
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31.1.21 | 31.1.20 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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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 ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 | ( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
Cairn Hotel (Bathgate) Limited (Registered number: SC628787) |
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Balance Sheet - continued |
31 January 2021 |
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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
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Cairn Hotel (Bathgate) Limited (Registered number: SC628787) |
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Notes to the Financial Statements |
for the Year Ended 31 January 2021 |
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1. | STATUTORY INFORMATION |
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Cairn Hotel (Bathgate) Limited is a private company, limited by shares, domiciled in Scotland, registration number SC628787. The registered office is Unit 5 Gateway Business Park, Beancross Road, Grangemouth, Scotland, FK3 8WX. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services in respect of hotel services, excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete. |
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Tangible fixed assets and depreciation |
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Fixtures and fittings | - |
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Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition. |
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The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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 measured 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. |
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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 liabilities or other future taxable profits. |
Cairn Hotel (Bathgate) Limited (Registered number: SC628787) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material. |
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Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. |
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Going concern |
At the balance sheet signing date, the United Kingdom is in the middle of a medical and economic crisis due to the Covid-19 global pandemic which has particularly impacted the hospitality sector. The directors of the company have reviewed the company's financial position for 12 months from the balance sheet signing date and it is the directors' belief that the company will be able to meet all liabilities as they fall due. Therefore the directors have prepared the financial statements on a going concern basis. |
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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 |
Fixtures |
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fittings |
£ |
COST |
Additions |
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At 31 January 2021 |
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NET BOOK VALUE |
At 31 January 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Trade debtors |
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Amounts owed by related parties |
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Other debtors |
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Cairn Hotel (Bathgate) Limited (Registered number: SC628787) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 January 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to related parties | - | 32,168 |
Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.21 | 31.1.20 |
£ | £ |
Bank loans |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.1.21 | 31.1.20 |
£ | £ |
Bank loans |
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In respect of the bank loan, Clydesdale Bank holds a floating charge over the property and undertaking of the company. |
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9. | RELATED PARTY DISCLOSURES |
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Companies under common control |
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Rent and service charges paid: £9,800 (2020: £31,250) |
Amounts owed by related parties: £59,108 (2020: £32,168 creditor) |