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REGISTERED NUMBER: SC487468 (Scotland)












Financial Statements for the Year Ended 31 August 2023

for

LORIMER CONSTRUCTION LTD

LORIMER CONSTRUCTION LTD (REGISTERED NUMBER: SC487468)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LORIMER CONSTRUCTION LTD

Company Information
for the Year Ended 31 August 2023







DIRECTOR: A Lorimer





REGISTERED OFFICE: 12 Traill Drive
Montrose
Angus
DD10 8SW





REGISTERED NUMBER: SC487468 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

LORIMER CONSTRUCTION LTD (REGISTERED NUMBER: SC487468)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,419 39,706

CURRENT ASSETS
Debtors 5 356,383 8,732
Cash at bank 4,936 81,456
361,319 90,188
CREDITORS
Amounts falling due within one year 6 274,890 150,366
NET CURRENT ASSETS/(LIABILITIES) 86,429 (60,178 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,848

(20,472

)

CREDITORS
Amounts falling due after more than one
year

7

-

12,321
NET ASSETS/(LIABILITIES) 99,848 (32,793 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 99,847 (32,794 )
SHAREHOLDERS' FUNDS 99,848 (32,793 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

LORIMER CONSTRUCTION LTD (REGISTERED NUMBER: SC487468)

Balance Sheet - continued
31 August 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 February 2024 and were signed by:





A Lorimer - Director


LORIMER CONSTRUCTION LTD (REGISTERED NUMBER: SC487468)

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

1. STATUTORY INFORMATION

Lorimer Construction Ltd 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet 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.

LORIMER CONSTRUCTION LTD (REGISTERED NUMBER: SC487468)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2022 87,498 25,175 112,673
Disposals (38,000 ) - (38,000 )
At 31 August 2023 49,498 25,175 74,673
DEPRECIATION
At 1 September 2022 51,139 21,828 72,967
Charge for year 3,638 837 4,475
Eliminated on disposal (16,188 ) - (16,188 )
At 31 August 2023 38,589 22,665 61,254
NET BOOK VALUE
At 31 August 2023 10,909 2,510 13,419
At 31 August 2022 36,359 3,347 39,706

LORIMER CONSTRUCTION LTD (REGISTERED NUMBER: SC487468)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 42,500 25,175 67,675
DEPRECIATION
At 1 September 2022 30,733 21,828 52,561
Charge for year 2,942 837 3,779
At 31 August 2023 33,675 22,665 56,340
NET BOOK VALUE
At 31 August 2023 8,825 2,510 11,335
At 31 August 2022 11,767 3,347 15,114

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 356,383 8,732

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 4,480
Trade creditors 4,360 7,635
Taxation and social security 30,482 1,755
Other creditors 240,048 136,496
274,890 150,366

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 12,321

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £18,000 were paid to the director .

The company was under the control of A Lorimer throughout the current and previous year.

During the year the director advanced the company net amounts totalling £35. As at 31 August 2023, included within other creditors, is a balance of £134,468 (2022 - £134,433) repayable to the director.