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REGISTERED NUMBER: SC245061 (Scotland)















Financial Statements for the Year Ended 31 March 2023

for

Lamont Sporrans Limited

Lamont Sporrans Limited (Registered number: SC245061)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lamont Sporrans Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: A J L Colquhoun





SECRETARY: Mrs B Colquhoun





REGISTERED OFFICE: 8 Invercauld Road
Braemar
Ballater
AB35 5YP





REGISTERED NUMBER: SC245061 (Scotland)





ACCOUNTANTS: The Grant Considine Partnership
Chartered Accountants
46 High Street
Banchory
Aberdeenshire
AB31 5SR

Lamont Sporrans Limited (Registered number: SC245061)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 5,938 2,240
5,938 2,240

CURRENT ASSETS
Stocks 22,797 19,131
Debtors 7 1,634 -
Cash at bank and in hand 536 4,445
24,967 23,576
CREDITORS
Amounts falling due within one year 8 8,617 4,311
NET CURRENT ASSETS 16,350 19,265
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,288

21,505

CREDITORS
Amounts falling due after more than one
year

9

(5,123

)

(8,160

)

PROVISIONS FOR LIABILITIES (716 ) (425 )
NET ASSETS 16,449 12,920

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 16,447 12,918
SHAREHOLDERS' FUNDS 16,449 12,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Lamont Sporrans Limited (Registered number: SC245061)

Statement of Financial Position - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2023 and were signed by:





A J L Colquhoun - Director


Lamont Sporrans Limited (Registered number: SC245061)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Lamont Sporrans Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. If a customer has not been invoiced for services provided during the period the income is accrued and included in debtors under prepayments and accrued income.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Fixtures & Fittings- 20% on reducing balance
Computer Equipment- 33% on cost

Inventories
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors and directors' loans.

Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


Lamont Sporrans Limited (Registered number: SC245061)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 26,175
AMORTISATION
At 1 April 2022
and 31 March 2023 26,175
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

Lamont Sporrans Limited (Registered number: SC245061)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

6. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 13,740 2,889 16,629
Additions 1,404 4,198 5,602
At 31 March 2023 15,144 7,087 22,231
DEPRECIATION
At 1 April 2022 11,887 2,502 14,389
Charge for year 679 1,225 1,904
At 31 March 2023 12,566 3,727 16,293
NET BOOK VALUE
At 31 March 2023 2,578 3,360 5,938
At 31 March 2022 1,853 387 2,240

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,634 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,000 907
Trade creditors 1,056 212
Taxation and social security 4,167 2,217
Other creditors 1,394 975
8,617 4,311

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 5,123 8,160