Caseware UK (AP4) 2023.0.135 2023.0.135 false2022-11-01No description of principal activity33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09364750 2022-11-01 2023-10-31 09364750 2021-11-01 2022-10-31 09364750 2023-10-31 09364750 2022-10-31 09364750 c:Director1 2022-11-01 2023-10-31 09364750 d:CurrentFinancialInstruments 2023-10-31 09364750 d:CurrentFinancialInstruments 2022-10-31 09364750 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 09364750 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 09364750 d:ShareCapital 2023-10-31 09364750 d:ShareCapital 2022-10-31 09364750 d:RetainedEarningsAccumulatedLosses 2022-11-01 2023-10-31 09364750 d:RetainedEarningsAccumulatedLosses 2023-10-31 09364750 d:RetainedEarningsAccumulatedLosses 2022-10-31 09364750 c:OrdinaryShareClass1 2022-11-01 2023-10-31 09364750 c:OrdinaryShareClass1 2023-10-31 09364750 c:OrdinaryShareClass1 2022-10-31 09364750 c:FRS102 2022-11-01 2023-10-31 09364750 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 09364750 c:FullAccounts 2022-11-01 2023-10-31 09364750 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 09364750 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09364750










Lochailort St Ives Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 October 2023

 
Lochailort St Ives Limited
Registered number: 09364750

Balance sheet
As at 31 October 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 4 
1,097,327
1,093,780

Debtors: amounts falling due within one year
 5 
33,091
132,505

Cash at bank and in hand
  
97
3,526

  
1,130,515
1,229,811

Creditors: amounts falling due within one year
 6 
(1,173,127)
(1,265,232)

Net current liabilities
  
 
 
(42,612)
 
 
(35,421)

Total assets less current liabilities
  
(42,612)
(35,421)

  

Net liabilities
  
(42,612)
(35,421)


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
 8 
(42,614)
(35,423)

  
(42,612)
(35,421)


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 comprehensive income 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 by: 




Mr H P Haig
Director
Date: 29 July 2024

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
Lochailort St Ives Limited
 

 
Notes to the financial statements
For the year ended 31 October 2023

1.


General information

Lochailort St Ives Limited is a private company, limited by shares and incorporated in England and Wales with a registration number 09364750. The registered office address is 108-110 Jermyn Street London, SW1Y 6EE.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have at the time of approving the financial statements, a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
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

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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 2

 
Lochailort St Ives Limited
 

 
Notes to the financial statements
For the year ended 31 October 2023

2.Accounting policies (continued)

 
2.8

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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Stocks

2023
2022
£
£

Stock
1,097,327
1,093,780

1,097,327
1,093,780



5.


Debtors

2023
2022
£
£


Other debtors
411
100,005

Prepayments and accrued income
180
-

Tax recoverable
32,500
32,500

33,091
132,505


Page 3

 
Lochailort St Ives Limited
 

 
Notes to the financial statements
For the year ended 31 October 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,402
3,641

Corporation tax
-
32,500

Other creditors
961,296
1,019,662

Accruals and deferred income
209,429
209,429

1,173,127
1,265,232



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



8.


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.


9.


Related party transactions

During the year a loan from the company to a director was repaid in full. At the balance sheet date included in Debtors amounts falling due within one year was a balance of £Nil (2023: £100,000). This loan was interest free and repayable on demand. 
                                                                                                                                  
During the year, Lochailort Investments Limited, a company under common control, met expenditure on behalf of the company totalling £6,374 (2023: £10,000) and the company repaid amounts totalling £68,340 (2023: £Nil). At the balance sheet date the company owed Lochailort investments Limited £961,296 (2022: £1,019,662).  


Page 4