Glenshee Limited - Abbreviated accounts 16.1

Glenshee Limited - Abbreviated accounts 16.1


SC2693481.12.1430.11.1530.11.15Company accountsPrivate Limited CompanyFYtruefalsetruefalsefalsetruefalseOrdinary A1.00000Ordinary B1.00000iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2693482014-11-30SC2693482015-11-30SC2693482014-12-012015-11-30SC2693482013-11-30SC2693482013-12-012014-11-30SC2693482014-11-30SC269348ns12:Scotland2014-12-012015-11-30SC269348ns14:PoundSterling2014-12-012015-11-30SC269348ns7:Director12014-12-012015-11-30SC269348ns7:OrdinaryShareClass12014-12-012015-11-30SC269348ns7:OrdinaryShareClass22014-12-012015-11-30SC269348ns7:Director22014-12-012015-11-30SC269348ns7:Director32014-12-012015-11-30SC269348ns7:Director42014-12-012015-11-30SC269348ns7:Director52014-12-012015-11-30SC269348ns7:Director62014-12-012015-11-30SC269348ns7:Director72014-12-012015-11-30SC269348ns7:Director92014-12-012015-11-30SC269348ns7:Director102014-12-012015-11-30SC269348ns7:RegisteredOffice2014-12-012015-11-30SC269348ns7:EntityAccountantsOrAuditors2014-12-012015-11-30SC269348ns5:NetGoodwill2014-12-012015-11-30SC269348ns5:LandBuildingsns5:OwnedOrFreeholdTangibleFixedAssets2014-12-012015-11-30SC269348ns5:ImprovementsOrDevelopmentAssets2014-12-012015-11-30SC269348ns5:PlantMachinery2014-12-012015-11-30SC269348ns5:FixturesFittings2014-12-012015-11-30SC269348ns5:MotorVehicles2014-12-012015-11-30SC269348ns5:ComputerEquipment2014-12-012015-11-30SC269348ns7:OrdinaryShareClass12015-11-30SC269348ns7:OrdinaryShareClass12014-11-30SC269348ns7:OrdinaryShareClass22015-11-30SC269348ns7:OrdinaryShareClass22014-11-30
REGISTERED NUMBER: SC269348(Scotland)















Abbreviated Accounts for the Year Ended 30 November 2015

for

Glenshee Limited

Glenshee Limited (Registered number: SC269348)

Contents of the Abbreviated Accounts
for the Year Ended 30 November 2015










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Glenshee Limited

Company Information
for the Year Ended 30 November 2015







DIRECTORS: A G McCabe
C S Davidson
D G Patterson
W W Malloch
W A Meston
Miss K M H Hunter
Mrs A Lawrence
R Jones
G Rattray





REGISTERED OFFICE: Cairnwell
Braemar
BALLATER
Aberdeenshire
AB35 5XU





REGISTERED NUMBER: SC269348(Scotland)





ACCOUNTANTS: Gillespie Inverarity & Co Limited
Chartered Accountants
33 Leslie Street
BLAIRGOWRIE
Perthshire
PH10 6AW

Glenshee Limited (Registered number: SC269348)

Abbreviated Balance Sheet
30 November 2015

30.11.15 30.11.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 706 1,474
Tangible assets 3 376,069 298,474
376,775 299,948

CURRENT ASSETS
Stocks 42,944 28,197
Debtors 236,879 32,647
Prepayments and accrued income 40,467 39,999
Cash at bank and in hand 1,055,691 1,155,927
1,375,981 1,256,770
CREDITORS
Amounts falling due within one year 217,582 222,168
NET CURRENT ASSETS 1,158,399 1,034,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,535,174

1,334,550

PROVISIONS FOR LIABILITIES 47,252 21,672
NET ASSETS 1,487,922 1,312,878

CAPITAL AND RESERVES
Called up share capital 4 145,000 145,000
Profit and loss account 1,342,922 1,167,878
SHAREHOLDERS' FUNDS 1,487,922 1,312,878

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 27 April 2016and were signed on its behalf by:





C S Davidson- Director


Glenshee Limited (Registered number: SC269348)

Notes to the Abbreviated Accounts
for the Year Ended 30 November 2015


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with acquisition of the business in 2004, is being amortised
evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 10% on cost
Ski Equipment - 50% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor Vehicles - 25% on reducing balance
Computer equipment - 33% 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

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 the profit and loss account in the period to which they relate.

Employee benefits trust
The company has purchased a trust for the benefit of employees and certain of their dependants. Monies held in
this trust are held by independent trustees and managed at their discretion.

Where the company retains future economic benefit from,and has de facto control of the assets and liabilities of
the trust, they are accounted for as assets and liabilities of the company until the earlier of the date that an
allocation of trust funds to employees in respect of past services is declared and that assets of the trust vest in
identified individuals.

Where monies held in a trust are determined by the company on the basis of employees' past services to the
business and the company can obtain no future economic benefit from those monies,such monies, whether in
the trust or accrued for by the company are charged to the profit and loss account in the period to which they
relate.

H.M. Revenue & Customs have enquired into the nature of the treatment of the payments to the employee
benefit trust, but no liability is expected to arise on the company.

Grants
Grants relating to revenue are recognised in profit and loss on a systematic basis over the periods in which the
company recognises the related costs for which the grant is intended to compensate.
Capital - based grants are recognised in profit and loss on a systematic basis over the useful economic life of the
asset matching the associated depreciation charges.

Glenshee Limited (Registered number: SC269348)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 November 2015


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 December 2014
and 30 November 2015 23,549
AMORTISATION
At 1 December 2014 22,075
Amortisation for year 768
At 30 November 2015 22,843
NET BOOK VALUE

At 30 November 2015 706
At 30 November 2014 1,474

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 December 2014 992,665
Additions 633,638
Disposals (114,055 )
Grants received (403,016 )
At 30 November 2015 1,109,232
DEPRECIATION
At 1 December 2014 694,191
Charge for year 141,862
Eliminated on disposal (102,890 )
At 30 November 2015 733,163
NET BOOK VALUE
At 30 November 2015 376,069
At 30 November 2014 298,474

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.15 30.11.14
value: £    £   
80,000 Ordinary A £1.00 80,000 80,000
65,000 Ordinary B £1.00 65,000 65,000
145,000 145,000