REGISTERED NUMBER: SC238441 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 30 September 2013

for

Navidale Estates Ltd

T/A

MacKinnon Country House Hotel

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mrs C Tongs

Mrs V Mealeady

REGISTERED OFFICE:

MacKinnon Country House Hotel

Kyleakin

Isle of Skye

IV41 8PQ

REGISTERED NUMBER:

SC238441 (Scotland)

ACCOUNTANTS:

Callander Colgan Limited

10 Ardross Street

Inverness

IV3 5NS

FIXED ASSETS

Tangible assets

2

677,551

686,044

CURRENT ASSETS

Stocks

3,200

3,200

Debtors

1,490

16,878

Cash in hand

220

300

4,910

20,378

CREDITORS

Amounts falling due within one year

3

151,643

155,398

NET CURRENT LIABILITIES

(146,733

)

(135,020

)

TOTAL ASSETS LESS CURRENT LIABILITIES

530,818

551,024

CREDITORS

Amounts falling due after more than one year

3

268,662

288,488

NET ASSETS

262,156

262,536

CAPITAL AND RESERVES

Called up share capital

4

100

100

Revaluation reserve

208,781

208,781

Profit and loss account

53,275

53,655

SHAREHOLDERS' FUNDS

262,156

262,536

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2013 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 2 June 2014 and were signed on its behalf by:

Mrs V Mealeady - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Fundamental account concept - going concern

These financial statements have been prepared on a going concern basis. The directors are aware of the net current liability

position of the company, and is reliant on the continued support of the bank and suppliers to provide credit. On this basis, it

is considered appropriate to prepare the financial statements on a going concern basis.

Turnover

The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added

Tax.

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

-

2% on cost

Fixtures and fittings

-

25% on reducing balance

Tangible fixed assets are stated at cost or valuation less depreciation.

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost

depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving

items. Cost represents the invoiced value of goods purchased net of any trade discounts received.

Deferred tax

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

where transactions or events that result in an obligation to pay more or a right to pay less tax in the future have occurred by

the balance sheet date with certain limited exceptions.

Deferred tax is calculated on an undiscounted basis at the tax rates that are expected to apply in the periods in which the

timing differences are expected to reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2012

and 30 September 2013

771,852

DEPRECIATION

At 1 October 2012

85,808

Charge for year

8,493

At 30 September 2013

94,301

NET BOOK VALUE

At 30 September 2013

677,551

At 30 September 2012

686,044

3.

CREDITORS

Creditors include an amount of £ 323,232 (30.9.12 - £ 346,269 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.9.13

30.9.12

£

£

Repayable by instalments

143,042

163,266

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.13

30.9.12

value:

£

£

100

Ordinary

£1

100

100

5.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mrs V Mealeady throughout the whole of the current and prior periods. Mrs

Mealeady is the majority shareholder.