Silverfin false 28/02/2023 01/03/2022 28/02/2023 J Edgely 07/02/2020 L Lamont 07/02/2020 24 November 2023 The principal activity of the Company during the financial year was that of a holding company. SC653810 2023-02-28 SC653810 bus:Director1 2023-02-28 SC653810 bus:Director2 2023-02-28 SC653810 2022-02-28 SC653810 core:CurrentFinancialInstruments 2023-02-28 SC653810 core:CurrentFinancialInstruments 2022-02-28 SC653810 core:ShareCapital 2023-02-28 SC653810 core:ShareCapital 2022-02-28 SC653810 core:RetainedEarningsAccumulatedLosses 2023-02-28 SC653810 core:RetainedEarningsAccumulatedLosses 2022-02-28 SC653810 core:CostValuation 2022-02-28 SC653810 core:CostValuation 2023-02-28 SC653810 core:ProvisionsForImpairmentInvestments 2022-02-28 SC653810 core:ProvisionsForImpairmentInvestments 2023-02-28 SC653810 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-02-28 SC653810 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2022-02-28 SC653810 bus:OrdinaryShareClass1 2023-02-28 SC653810 2022-03-01 2023-02-28 SC653810 bus:FullAccounts 2022-03-01 2023-02-28 SC653810 bus:SmallEntities 2022-03-01 2023-02-28 SC653810 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 SC653810 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 SC653810 bus:Director1 2022-03-01 2023-02-28 SC653810 bus:Director2 2022-03-01 2023-02-28 SC653810 2021-03-01 2022-02-28 SC653810 core:Subsidiary1 2022-03-01 2023-02-28 SC653810 core:Subsidiary1 1 2022-03-01 2023-02-28 SC653810 core:Subsidiary1 1 2021-03-01 2022-02-28 SC653810 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 SC653810 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: SC653810 (Scotland)

L & M LAMONT LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH THE REGISTRAR

L & M LAMONT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023

Contents

L & M LAMONT LIMITED

BALANCE SHEET

AS AT 28 FEBRUARY 2023
L & M LAMONT LIMITED

BALANCE SHEET (continued)

AS AT 28 FEBRUARY 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 2,845,931 2,845,931
2,845,931 2,845,931
Creditors: amounts falling due within one year 4 ( 2,732,691) ( 2,736,219)
Net current liabilities (2,732,691) (2,736,219)
Total assets less current liabilities 113,240 109,712
Net assets 113,240 109,712
Capital and reserves
Called-up share capital 5 100,000 100,000
Profit and loss account 13,240 9,712
Total shareholders' funds 113,240 109,712

For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of L & M Lamont Limited (registered number: SC653810) were approved and authorised for issue by the Director on 24 November 2023. They were signed on its behalf by:

J Edgely
Director
L & M LAMONT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
L & M LAMONT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

L & M Lamont Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Blackadders Llp, 53, Bothwell Street, Glasgow, G2 6TS, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Management charges are recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Other investments Total
£ £
Carrying value before impairment
At 01 March 2022 2,845,931 2,845,931
At 28 February 2023 2,845,931 2,845,931
Provisions for impairment
At 01 March 2022 0 0
At 28 February 2023 0 0
Carrying value at 28 February 2023 2,845,931 2,845,931
Carrying value at 28 February 2022 2,845,931 2,845,931

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
28.02.2023
Ownership
28.02.2022
Roslin Health Care Limited Scotland Pharmacy Retail Ordinary 100.00% 100.00%

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to own subsidiaries 2,721,979 2,725,553
Taxation and social security 9,272 9,226
Other creditors 1,440 1,440
2,732,691 2,736,219

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100,000 Ordinary shares of £ 1.00 each 100,000 100,000

6. Related party transactions

Other related party transactions

2023 2022
£ £
Amounts due to related parties 2,771,949 2,725,553