Lockharts Project Management & Engineering Services Limited |
Registered Number:SC483151 |
For the year ended 31 July 2023
Scotland
Unaudited Financial Statements
For the year ended 31 July 2023
Lockharts Project Management & Engineering Services Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Lockharts Project Management & Engineering Services Limited
Statement of Financial Position
2022
2023
2
825,000
825,000
825,000
825,000
Trade and other receivables |
1
-
171,026
Cash and cash equivalents |
34,510
34,510
171,027
Trade and other payables: amounts falling due within one year |
(14,425)
(11,276)
3
156,602
23,234
Net current assets
Total assets less current liabilities |
848,234
981,602
Trade and other payables: amounts falling due after more than |
one year |
(680,313)
(510,633)
4
(19,702)
(19,702)
Provisions for liabilities |
317,899
Net assets
281,587
130
130
83,993
83,993
233,776
197,464
317,899
281,587
Shareholders' funds
For the year ended 31 July 2023 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 of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
Mr Thomas Somers Lockhart Director |
These financial statements were approved and authorised for issue by the Board on 31 January 2024 and were signed by: |
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For the year ended 31 July 2023
Lockharts Project Management & Engineering Services Limited
Statement of Financial Position Continued
The notes form part of these financial statements |
2 of 4
For the year ended 31 July 2023
Lockharts Project Management & Engineering Services Limited
Notes to the Financial Statements
Statutory Information
Lockharts Project Management & Engineering Services Limited is a private limited company, limited by shares, domiciled in |
Scotland, registration number SC483151. |
223 Ayr Road
Newton Mearns
Glasgow
G77 6AH
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. |
There were no material departures from that standard. |
The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain |
assets to fair value where required. |
Revenue recognition
Turnover represents rents receivable.
Investment property
Investment property is shown at most recent valuation. The properties were revalued by the director on 31st July 2023.Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. |
Financial Instruments
The Company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial |
Instruments Issues" of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to |
the contractual provisions of a financial instrument. |
Basic financial instruments, including trade and other receivables, cash and bank balances, trade and other payables, bank |
and other loans are initially measured at transaction price and subsequently carried at amortised cost. Financial assets and |
liabilities classified as receivable/payable within one year are not amortised. |
3 of 4
For the year ended 31 July 2023
Lockharts Project Management & Engineering Services Limited
Notes to the Financial Statements Continued
825,000
825,000
825,000
825,000
3. Trade and other payables: amounts falling due within one year |
2022
2023
Taxation and social security |
9,902
11,379
1,374
3,046
11,276
14,425
4. Trade and other payables: amounts falling due after more than one year |
2022
2023
510,633
680,313
The director is owed £510,633 from the Company at 31st July 2023. This is a non-interest bearing loan and there are no fixed repayment terms. |
5. Related party transactions |
Mr Thomas Lockhart was the Company's controlling party throughout the current year. Thomas Lockhart is the sole director |
and, together with members of his close family, controls the entire issued share capital of the company. |
6. Average number of persons employed |
During the year the average number of employees was 2 (2022 : 1)
4 of 4