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REGISTERED NUMBER: SC160362 (Scotland)










Unaudited Financial Statements

for the Year Ended 30 September 2023

for

LOCH LOMOND TRADING COMPANY LIMITED

LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOCH LOMOND TRADING COMPANY LIMITED

Company Information
for the Year Ended 30 September 2023







DIRECTOR: Ms R Ferguson





REGISTERED OFFICE: Coach House Coffee Shop
Church Road
Luss
Loch Lomond, Argyll
G83 8NN





REGISTERED NUMBER: SC160362 (Scotland)





ACCOUNTANTS: WDM Associates
Oakfield House
378 Brandon Street
Motherwell
ML1 1XA

LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 235 235
Tangible assets 5 235,918 238,050
236,153 238,285

CURRENT ASSETS
Stocks 6 33,680 25,564
Debtors 7 52,151 50,420
Cash at bank and in hand 87,886 95,095
173,717 171,079
CREDITORS
Amounts falling due within one year 8 120,584 105,266
NET CURRENT ASSETS 53,133 65,813
TOTAL ASSETS LESS CURRENT
LIABILITIES

289,286

304,098

CREDITORS
Amounts falling due after more than one
year

9

(47,139

)

(66,551

)

PROVISIONS FOR LIABILITIES 11 (4,023 ) (1,842 )

ACCRUALS AND DEFERRED INCOME (6,975 ) (7,275 )
NET ASSETS 231,149 228,430

LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Balance Sheet - continued
30 September 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 25,000 25,000
Retained earnings 13 206,149 203,430
SHAREHOLDERS' FUNDS 231,149 228,430

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 19 February 2024 and were signed by:





Ms R Ferguson - Director


LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Loch Lomond Trading Company 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.

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.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - at variable rates on reducing balance
Computer equipment - 50% on cost and 33% on reducing balance

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

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.


LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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 29 (2022 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 October 2022
and 30 September 2023 235
NET BOOK VALUE
At 30 September 2023 235
At 30 September 2022 235

LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022 373,427 147,853 13,070 534,350
Additions - 11,309 1,485 12,794
Disposals - (550 ) - (550 )
At 30 September 2023 373,427 158,612 14,555 546,594
DEPRECIATION
At 1 October 2022 156,745 127,436 12,119 296,300
Charge for year 7,469 6,734 723 14,926
Eliminated on disposal - (550 ) - (550 )
At 30 September 2023 164,214 133,620 12,842 310,676
NET BOOK VALUE
At 30 September 2023 209,213 24,992 1,713 235,918
At 30 September 2022 216,682 20,417 951 238,050

6. STOCKS
2023 2022
£    £   
Stocks 33,680 25,564

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 434 913
Other debtors 51,717 49,507
52,151 50,420

LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Other loans (see note 10) 5,116 5,116
Trade creditors 37,455 32,377
Tax 25,984 22,859
Social security and other taxes - 4,067
VAT 26,913 20,621
Other creditors 2,166 1,103
Accrued expenses 12,650 8,823
Deferred government grants 300 300
120,584 105,266

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 10) 7,255 26,667
Other loans (see note 10) 39,884 39,884
47,139 66,551

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Dumbarton Enterprise Loan 5,116 5,116
15,116 15,116

Amounts falling due between two and five years:
Bank loans - 2-5 years 7,255 26,667
Dumbarton Enterprise Loan 39,884 39,884
47,139 66,551

LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 4,023 1,842

Deferred
tax
£   
Balance at 1 October 2022 1,842
Charge to Income Statement during year 2,181
Balance at 30 September 2023 4,023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25,000 Ordinary 1 25,000 25,000

13. RESERVES
Retained
earnings
£   

At 1 October 2022 203,430
Profit for the year 94,219
Dividends (91,500 )
At 30 September 2023 206,149

LOCH LOMOND TRADING COMPANY LIMITED (REGISTERED NUMBER: SC160362)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

14. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Ms R Ferguson
Balance outstanding at start of year 44,767 58,104
Amounts advanced 92,406 -
Amounts repaid (91,500 ) (13,337 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 45,673 44,767