Caseware UK (AP4) 2023.0.135 2023.0.135 2022-03-01false2No description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10614343 2022-03-01 2023-02-28 10614343 2021-03-01 2022-02-28 10614343 2023-02-28 10614343 2022-02-28 10614343 c:Director1 2022-03-01 2023-02-28 10614343 d:ComputerEquipment 2022-03-01 2023-02-28 10614343 d:ComputerEquipment 2023-02-28 10614343 d:ComputerEquipment 2022-02-28 10614343 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 10614343 d:CurrentFinancialInstruments 2023-02-28 10614343 d:CurrentFinancialInstruments 2022-02-28 10614343 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 10614343 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 10614343 d:ShareCapital 2023-02-28 10614343 d:ShareCapital 2022-02-28 10614343 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 10614343 d:RetainedEarningsAccumulatedLosses 2023-02-28 10614343 d:RetainedEarningsAccumulatedLosses 2022-02-28 10614343 c:OrdinaryShareClass1 2022-03-01 2023-02-28 10614343 c:OrdinaryShareClass1 2023-02-28 10614343 c:OrdinaryShareClass1 2022-02-28 10614343 c:FRS102 2022-03-01 2023-02-28 10614343 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 10614343 c:FullAccounts 2022-03-01 2023-02-28 10614343 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 10614343 6 2022-03-01 2023-02-28 10614343 e:PoundSterling 2022-03-01 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10614343










Lochailort Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 28 February 2023

 
Lochailort Limited
Registered number: 10614343

Balance sheet
As at 28 February 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,159
1,591

Investments
 5 
500,000
500,000

  
501,159
501,591

Current assets
  

Debtors: amounts falling due within one year
 6 
529,011
240,150

Cash at bank and in hand
  
437,834
935,856

  
966,845
1,176,006

Creditors: amounts falling due within one year
 7 
(171,171)
(184,044)

Net current assets
  
 
 
795,674
 
 
991,962

Total assets less current liabilities
  
1,296,833
1,493,553

  

Net assets
  
1,296,833
1,493,553


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
 9 
1,296,733
1,493,453

  
1,296,833
1,493,553


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 February 2024.




Hugo Peter Haig
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
Lochailort Limited
 

 
Notes to the financial statements
For the year ended 28 February 2023

1.


General information

The company is a private limited company, incorporated and domiciled in England & Wales. The company's registered office is at  Albyn House, 239 New Kings Road, London, SW6 4XG.
The company's principal activity during the year was that of management of real estate and construction of domestic buildings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 2

 
Lochailort Limited
 

 
Notes to the financial statements
For the year ended 28 February 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
Lochailort Limited
 

 
Notes to the financial statements
For the year ended 28 February 2023

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost


At 1 March 2022
3,159


Additions
931



At 28 February 2023

4,090



Depreciation


At 1 March 2022
1,568


Charge of the year
1,363



At 28 February 2023

2,931



Net book value



At 28 February 2023
1,159



At 28 February 2022
1,591

Page 4

 
Lochailort Limited
 

 
Notes to the financial statements
For the year ended 28 February 2023

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 March 2022
500,000



At 28 February 2023
500,000





6.


Debtors

2023
2022
£
£


Trade debtors
-
240,050

Other debtors
508,078
-

Called up share capital not paid
100
100

Tax recoverable
20,833
-

529,011
240,150



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,200
830

Corporation tax
29,594
9,200

Other taxation and social security
5,146
44,451

Other creditors
128,868
127,313

Accruals and deferred income
2,363
2,250

171,171
184,044



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100


Page 5

 
Lochailort Limited
 

 
Notes to the financial statements
For the year ended 28 February 2023

9.


Reserves

Profit and loss account

The profit and loss account comprises all current period retained profits and losses.
Share capital
This represents the nominal value of shares that have been issued by the company.


10.


Related party transactions

During the year the company made advances of £61,728 (2022: £Nil) to Hugo Haig, a director of the company. At the year end Hugo Haig owed the company £61,728 (2022: £Nil), included within other debtors due within one year.
Hugo Haig, a director and shareholder, is a director and shareholder in Lochailort Ampthill Limited. As at 28 February 2023 Lochailort Ampthill Limited owed £Nil (2022: £50) to Lochailort Limited.
During the year, the company advanced a loan to Lochailort Investment Limited, a company which Hugo Haig was a director of during the year. At the year end the balance due to Lochailort Limited was £230,000, included within other debtors due within one year.
During the year, the company advanced a loan to Lochailort Kentford Limited, a company which Hugo Haig was a director of during the year. At the year end the balance due to Lochailort Limited was £215,000, included within other debtors due within one year.


11.


Controlling party

The company is under the control of the directors. 


Page 6