THE company which runs the upmarket luxury and golf resort at Skibo Castle has seen its losses halve.
Accounts recently filed at Companies House show that Skibo Limited posted a rise in turnover from £8 million to almost £8.65m in the 12 months to March 31, 2014.
That rise in revenue along with a £225,000 reduction in administrative expenses saw the annual pre-tax loss come in at £636,000, down from £1.21m in the prior year.
Writing in the accounts the directors said: "In summary the directors are satisfied with the business performance in the year. The directors are looking forward to continuing growth in the coming year."
The accounts note that a £12m loan facility which had been due to expire in December has been extended until 2016.
Scytherbolle, Bermuda based owner of Skibo, also indicated that it would continue to provide funds as needed.
Average staff numbers in the year increased from 175 to 203 with 120 of those employed in full time roles.
Directors' emoluments dipped from £232,000 to £217,000 although the highest paid saw theirs go from £126,000 to £132,000.
Skibo, which covers 7500 acres in the Dornoch area of Sutherland, has previously hosted the wedding of Madonna to Guy Ritchie and racing driver Dario Franchitti to actress Ashley Judd, as well as being a popular bolt hole for figures ranging from Bill Clinton to Sir Sean Connery.
Although the castle dates back to around the 12th century much of the current site was restored and rebuilt by Dunfermline-born industrial tycoon Andrew Carnegie after he bought the site in 1898 as a summer home.
Skibo was owned by the Carnegie family until the 1980s and then passed through a number of hands including Lanarkshire businessman Derek Holt, a global real estate investment trust and hotelier Peter de Savary.
In 2003 Mr de Savary sold to a small group of private investors who had been members of Skibo's exclusive Carnegie Club including Sunderland Football Club's American owner Ellis Short.
There are thought to be around 400 members of the Carnegie Club, who each pay an annual fee of running into thousands of pounds.
New members also have to make a one-off payment of around £24,000 to join.
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