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REGISTERED NUMBER: SC479653 (Scotland)




















SHANDON LOCH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

SHANDON LOCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: W J McDonald





REGISTERED OFFICE: Avonhaugh Nursing Home
97 Lawrie Street
Stonehouse
Larkhall
ML9 3LN





REGISTERED NUMBER: SC479653 (Scotland)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,408,644 1,399,304

CURRENT ASSETS
Debtors 5 268,057 220,630
Prepayments and accrued income 43,018 90,154
Cash at bank and in hand 29,062 61,070
340,137 371,854
CREDITORS
Amounts falling due within one year 6 472,350 490,166
NET CURRENT LIABILITIES (132,213 ) (118,312 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,276,431

1,280,992

CREDITORS
Amounts falling due after more than one
year

7

(1,004,585

)

(1,206,460

)

PROVISIONS FOR LIABILITIES 10 (23,976 ) (24,171 )

ACCRUALS AND DEFERRED INCOME (107,573 ) (45,988 )
NET ASSETS 140,297 4,373

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 140,197 4,273
SHAREHOLDERS' FUNDS 140,297 4,373

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

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 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.

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 2 February 2024 and were signed by:




W J McDonald - Director


SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Shandon Loch 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. 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.
Heritable property - 2% on cost
Improvements to property - 2% on cost
Fixtures fittings and equipment - 20% on cost
Motor vehicles - 25% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all 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.

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 76 (2022 - 77 ) .

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Improvements fittings
Heritable to and Motor
property property equipment vehicles Totals
£    £    £    £    £   
COST
At 1 August 2022 1,074,219 304,878 301,981 52,990 1,734,068
Additions - - 87,574 - 87,574
At 31 July 2023 1,074,219 304,878 389,555 52,990 1,821,642
DEPRECIATION
At 1 August 2022 125,328 25,324 174,204 9,908 334,764
Charge for year 21,484 6,097 39,883 10,770 78,234
At 31 July 2023 146,812 31,421 214,087 20,678 412,998
NET BOOK VALUE
At 31 July 2023 927,407 273,457 175,468 32,312 1,408,644
At 31 July 2022 948,891 279,554 127,777 43,082 1,399,304

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 145,183 92,974
Other debtors 122,636 127,418
Corporation tax 238 238
268,057 220,630

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 191,457 88,371
Other loans (see note 8) 4,656 4,656
Hire purchase contracts 4,888 4,660
Trade creditors 28,035 34,965
Corporation tax 9,861 -
Social security and other taxes 20,840 29,976
Other creditors 72,956 65,728
Directors' current accounts 139,657 261,810
472,350 490,166

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 975,076 1,167,407
Other loans (see note 8) 16,684 21,340
Hire purchase contracts 12,825 17,713
1,004,585 1,206,460

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 yrs 641,286 722,931
Other loans more 5yrs instal - 2,716
641,286 725,647

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 191,457 88,371
Other loans 4,656 4,656
196,113 93,027

Amounts falling due between one and two years:
Bank loans - 1-2 years 85,181 192,420
Other loans - 1-2 years 4,656 4,656
89,837 197,076

Amounts falling due between two and five years:
Bank loans - 2-5 years 248,609 252,056
Other loans - 2-5 years 12,028 13,968
260,637 266,024

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 yrs 641,286 722,931
Other loans more 5yrs instal - 2,716
641,286 725,647

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,166,533 1,255,778

The bank borrowings are secured by a standard security plus a bond and floating charge over the assets of the company.

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 23,976 24,171

Deferred
tax
£   
Balance at 1 August 2022 24,171
Credit to Income Statement during year (195 )
Balance at 31 July 2023 23,976

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained
earnings
£   

At 1 August 2022 4,273
Profit for the year 135,924
At 31 July 2023 140,197

13. CONTINGENT LIABILITIES

The company is owed £119,190 by Lochside Care Ltd. The recoverability of this amount is dependent on the sale of land and buildings by Lochside Care Ltd at an amount which will permit the full repayment of all creditors. The directors believe that the sale of the land and buildings will be sufficient to repay the loan in full and they have therefore not made a provision for any shortfall which could arise if the disposal of the assets in Lochside Care Ltd does not generate sufficient proceeds.

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£    £   
W J McDonald
Balance outstanding at start of year - 299
Amounts repaid - (299 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was unsecured, interest free and had no fixed terms of repayment.

15. RELATED PARTY DISCLOSURES

At the beginning of the year the company was owed £125,000 by Lochside Care Ltd, a company under common control. During the year the company advanced a further £54,000 to Lochside Care Ltd. Assets were purchased from Lochside Care Ltd at market value of £59,810. At the balance sheet date Lochside Care Ltd owed the company £119,190.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SHANDON LOCH LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shandon Loch Limited for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Shandon Loch Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shandon Loch Limited and state those matters that we have agreed to state to the director of Shandon Loch Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Shandon Loch Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shandon Loch Limited. You consider that Shandon Loch Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shandon Loch Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


2 February 2024