Registered number
11810641
RW Lomond UK Limited
Filleted Accounts
28 February 2023
RW Lomond UK Limited
Registered number: 11810641
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 75,895 30,895
Cash at bank and in hand 432 22,946
76,327 53,841
Creditors: amounts falling due within one year 4 (115) 1
Net current assets 76,212 53,842
Total assets less current liabilities 76,212 53,842
Creditors: amounts falling due after more than one year 5 (151,001) (115,001)
Net liabilities (74,789) (61,159)
Capital and reserves
Called up share capital 100 100
Profit and loss account (74,889) (61,259)
Shareholder's funds (74,789) (61,159)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Clark Gray
Director
Approved by the board on 13 October 2023
RW Lomond UK Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 75,795 30,795
Other debtors 100 100
75,895 30,895
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 115 -
Other creditors - (1)
115 (1)
5 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 151,001 115,001
6 Controlling party
The ultimate controlling party is Mr Clark Gray by virtue of his holding 100% of shares in the company.
7 Other information
RW Lomond UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
317 Horn Lane
Acton
London W3 0BU
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