Ardeonaig Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC524422 (Scotland)

Unaudited Financial Statements

for the Period 18 January 2016 to 31 March 2017

for

Ardeonaig Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S L C Hitchins

I Hitchins

REGISTERED OFFICE:

Ben Lawers House

Lawers

Aberfeldy

Perthshire

PH15 2PA

REGISTERED NUMBER:

SC524422 (Scotland)

ACCOUNTANTS:

Kelly Accounting Limited

Chartered Accountants

42 Comrie Street

Crieff

Perthshire

PH7 4AX

FIXED ASSETS

Tangible assets

4

795,419

CURRENT ASSETS

Stocks

4,850

Debtors

5

5,655

Prepayments and accrued income

4,913

Cash at bank and in hand

76,477

91,895

CREDITORS

Amounts falling due within one year

6

353,772

NET CURRENT LIABILITIES

(261,877

)

TOTAL ASSETS LESS CURRENT LIABILITIES

533,542

CREDITORS

Amounts falling due after more than one year

7

525,000

NET ASSETS

8,542

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

8,540

SHAREHOLDERS' FUNDS

8,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 2 June 2017 and were signed on its behalf by:

I Hitchins - Director

1.	STATUTORY INFORMATION

Ardeonaig Ltd is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and 10% 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.

Taxation

Taxation for the period 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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 period end and that

are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

Additions

770,642

26,688

797,330

At 31 March 2017

770,642

26,688

797,330

DEPRECIATION

Charge for period

-

1,911

1,911

At 31 March 2017

-

1,911

1,911

NET BOOK VALUE

At 31 March 2017

770,642

24,777

795,419

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

3,672

Other debtors

1,983

5,655

Included in other debtors is £870 owed to the company by the Directors.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

15,997

Taxation and social security

11,800

Other creditors

325,975

353,772

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

525,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

525,000

The bank loan is secured by a standard security over the property of Ardeonaig Hotel and by a floating

charge over the assets of the company.

9.	RELATED PARTY DISCLOSURES

Included in other creditors falling due within one year is a loan of £305,579 from a company under

common control. The loan does not bear interest and is repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.