IRIS Accounts Production v24.1.0.578 SC161833 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1618332022-03-31SC1618332023-03-31SC1618332022-04-012023-03-31SC1618332021-03-31SC1618332021-04-012022-03-31SC1618332022-03-31SC161833ns15:Scotland2022-04-012023-03-31SC161833ns14:PoundSterling2022-04-012023-03-31SC161833ns10:Director12022-04-012023-03-31SC161833ns10:PrivateLimitedCompanyLtd2022-04-012023-03-31SC161833ns10:SmallEntities2022-04-012023-03-31SC161833ns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC161833ns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC161833ns10:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC161833ns10:FullAccounts2022-04-012023-03-31SC161833ns10:OrdinaryShareClass12022-04-012023-03-31SC161833ns5:CurrentFinancialInstruments2023-03-31SC161833ns5:CurrentFinancialInstruments2022-03-31SC161833ns5:ShareCapital2023-03-31SC161833ns5:ShareCapital2022-03-31SC161833ns5:RetainedEarningsAccumulatedLosses2023-03-31SC161833ns5:RetainedEarningsAccumulatedLosses2022-03-31SC161833ns10:RegisteredOffice2022-04-012023-03-31SC161833ns5:PlantMachinery2022-03-31SC161833ns5:PlantMachinery2022-04-012023-03-31SC161833ns5:PlantMachinery2023-03-31SC161833ns5:PlantMachinery2022-03-31SC161833ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31SC161833ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-31SC161833ns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: SC161833 (Scotland)















Financial Statements for the Year Ended 31 March 2023

for

LOCHS AND GLENS (TRANSPORT) LIMITED

LOCHS AND GLENS (TRANSPORT) LIMITED (REGISTERED NUMBER: SC161833)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2


LOCHS AND GLENS (TRANSPORT) LIMITED (REGISTERED NUMBER: SC161833)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,393,247 3,157,097

Current assets
Debtors 5 1,208,689 655,851
Cash at bank 312,550 100,999
1,521,239 756,850
Creditors
Amounts falling due within one year 6 147,684 238,840
Net current assets 1,373,555 518,010
Total assets less current liabilities 4,766,802 3,675,107

Provisions for liabilities 748,985 281,500
Net assets 4,017,817 3,393,607

Capital and reserves
Called up share capital 7 8 8
Retained earnings 4,017,809 3,393,599
Shareholders' funds 4,017,817 3,393,607

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2024 and were signed on its behalf by:





N Wells - Director


LOCHS AND GLENS (TRANSPORT) LIMITED (REGISTERED NUMBER: SC161833)

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


1. Statutory information

Lochs And Glens (Transport) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC161833

Registered office: School Road
Gartocharn
Alexandria
Dunbartonshire
G83 8RW

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.

Significant judgements and estimates
In the application of the company's accounting policies, which are described below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key source of estimation uncertainty that has a significant effect on the amounts recognised in the financial statements is the fair value of the company's coach fleet.

Turnover
Turnover comprises the consideration received or receivable for the provision of coach hire services and excludes Value Added Tax. Turnover is recognised when the company fulfills its obligations to its customers by supplying coach hire services.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures & equipment15% on reducing balance
Motor vehicles25% on reducing balance
Coaches12.5% on cost

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.


LOCHS AND GLENS (TRANSPORT) LIMITED (REGISTERED NUMBER: SC161833)

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


2. Accounting policies - continued
Taxation
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing differences, with
certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 44 (2022 - 42 ) .

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 April 2022 4,781,429
Additions 1,536,985
Disposals (1,465,000 )
At 31 March 2023 4,853,414
Depreciation
At 1 April 2022 1,624,332
Charge for year 602,835
Written back on disposals (767,000 )
At 31 March 2023 1,460,167
Net book value
At 31 March 2023 3,393,247
At 31 March 2022 3,157,097

LOCHS AND GLENS (TRANSPORT) LIMITED (REGISTERED NUMBER: SC161833)

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


5. Debtors: amounts falling due within one year
2023 2022
£    £   
Other debtors 1,208,689 655,851

Trade debtors include amounts due from a company under common control of £20,748 (2022 - £Nil).

Other debtors include amounts due from a company under common control of £590,655 (2021 - £441,340).

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 86,349 203,643
Taxation and social security 27,872 20,695
Accruals 33,463 14,502
147,684 238,840

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8 Ordinary £1 8 8