Company Registration No. SC252826 (Scotland)
Loch Torridon Estate Limited
Unaudited accounts
for the year ended 30 November 2022
Loch Torridon Estate Limited
Unaudited accounts
Contents
Loch Torridon Estate Limited
Company Information
for the year ended 30 November 2022
Directors
F von Racknitz
S von Racknitz
Company Number
SC252826 (Scotland)
Registered Office
Torridon House
Torridon
IV22 2HA
Accountants
CMM Accountancy (Inverness) Limited
The Green House
Beechwood Business Park North
Inverness
IV2 3BL
Loch Torridon Estate Limited
Statement of financial position
as at 30 November 2022
Tangible assets
89,369
45,514
Cash at bank and in hand
37,363
142,956
Creditors: amounts falling due within one year
(99,901)
(151,287)
Net current assets
6,869
16,125
Total assets less current liabilities
96,238
61,639
Creditors: amounts falling due after more than one year
(409,227)
(404,229)
Net liabilities
(312,989)
(342,590)
Called up share capital
100
100
Profit and loss account
(313,089)
(342,690)
Shareholders' funds
(312,989)
(342,590)
For the year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by
F von Racknitz
Director
Company Registration No. SC252826
Loch Torridon Estate Limited
Notes to the Accounts
for the year ended 30 November 2022
Loch Torridon Estate Limited is a private company, limited by shares, registered in Scotland, registration number SC252826. The registered office is Torridon House, Torridon, IV22 2HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0-10% straight line
Plant & machinery
20% straight line
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. This support is required as the
company has net liabilities of £312,989 (2021 - £342,590).
We believe no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. In assessing going concern, we have paid particular attention to a period of not less than one year from the date of approval of the financial statements.
Loch Torridon Estate Limited
Notes to the Accounts
for the year ended 30 November 2022
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Total
At 1 December 2021
103,936
At 30 November 2022
168,822
Charge for the year
21,031
At 30 November 2022
79,453
At 30 November 2022
89,369
At 30 November 2021
45,514
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
24,795
-
- Fixtures & fittings
23,009
-
Included in other debtors is a loan to the director F Von Racknitz for £17,741. This loan attracts interest at the official rate, is
unsecured, and has no fixed terms of repayment.
Included in other debtors is a loan to the director S Von Racknitz for £17,741. This loan attracts interest at the official rate, is
unsecured, and has no fixed terms of repayment.
6
Average number of employees
During the year the average number of employees was 0 (2021: 0).