2022-12-012023-11-302023-11-30falseSC614395LOMOND TRADING LTD2024-08-3061900iso4217:GBPxbrli:pureSC6143952022-12-01SC6143952023-11-30SC6143952022-12-012023-11-30SC6143952021-12-01SC6143952022-11-30SC6143952021-12-012022-11-30SC614395bus:SmallEntities2022-12-012023-11-30SC614395bus:AuditExempt-NoAccountantsReport2022-12-012023-11-30SC614395bus:FullAccounts2022-12-012023-11-30SC614395bus:PrivateLimitedCompanyLtd2022-12-012023-11-30SC614395core:WithinOneYear2023-11-30SC614395core:AfterOneYear2023-11-30SC614395core:WithinOneYear2022-11-30SC614395core:AfterOneYear2022-11-30SC614395core:ShareCapital2023-11-30SC614395core:SharePremium2023-11-30SC614395core:RevaluationReserve2023-11-30SC614395core:OtherReservesSubtotal2023-11-30SC614395core:RetainedEarningsAccumulatedLosses2023-11-30SC614395core:ShareCapital2022-11-30SC614395core:SharePremium2022-11-30SC614395core:RevaluationReserve2022-11-30SC614395core:OtherReservesSubtotal2022-11-30SC614395core:RetainedEarningsAccumulatedLosses2022-11-30SC614395core:LandBuildings2023-11-30SC614395core:PlantMachinery2023-11-30SC614395core:Vehicles2023-11-30SC614395core:FurnitureFittings2023-11-30SC614395core:OfficeEquipment2023-11-30SC614395core:NetGoodwill2023-11-30SC614395core:IntangibleAssetsOtherThanGoodwill2023-11-30SC614395core:ListedExchangeTraded2023-11-30SC614395core:UnlistedNon-exchangeTraded2023-11-30SC614395core:LandBuildings2022-11-30SC614395core:PlantMachinery2022-11-30SC614395core:Vehicles2022-11-30SC614395core:FurnitureFittings2022-11-30SC614395core:OfficeEquipment2022-11-30SC614395core:NetGoodwill2022-11-30SC614395core:IntangibleAssetsOtherThanGoodwill2022-11-30SC614395core:ListedExchangeTraded2022-11-30SC614395core:UnlistedNon-exchangeTraded2022-11-30SC614395core:LandBuildings2022-12-012023-11-30SC614395core:PlantMachinery2022-12-012023-11-30SC614395core:Vehicles2022-12-012023-11-30SC614395core:FurnitureFittings2022-12-012023-11-30SC614395core:OfficeEquipment2022-12-012023-11-30SC614395core:NetGoodwill2022-12-012023-11-30SC614395core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-30SC614395core:ListedExchangeTraded2022-12-012023-11-30SC614395core:UnlistedNon-exchangeTraded2022-12-012023-11-30SC614395core:MoreThanFiveYears2022-12-012023-11-30SC614395core:Non-currentFinancialInstruments2023-11-30SC614395core:Non-currentFinancialInstruments2022-11-30SC614395dpl:CostSales2022-12-012023-11-30SC614395dpl:DistributionCosts2022-12-012023-11-30SC614395core:LandBuildings2022-12-012023-11-30SC614395core:PlantMachinery2022-12-012023-11-30SC614395core:Vehicles2022-12-012023-11-30SC614395core:FurnitureFittings2022-12-012023-11-30SC614395core:OfficeEquipment2022-12-012023-11-30SC614395dpl:AdministrativeExpenses2022-12-012023-11-30SC614395core:NetGoodwill2022-12-012023-11-30SC614395core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-30SC614395dpl:GroupUndertakings2022-12-012023-11-30SC614395dpl:ParticipatingInterests2022-12-012023-11-30SC614395dpl:GroupUndertakingscore:ListedExchangeTraded2022-12-012023-11-30SC614395core:ListedExchangeTraded2022-12-012023-11-30SC614395dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-12-012023-11-30SC614395core:UnlistedNon-exchangeTraded2022-12-012023-11-30SC614395dpl:CostSales2021-12-012022-11-30SC614395dpl:DistributionCosts2021-12-012022-11-30SC614395core:LandBuildings2021-12-012022-11-30SC614395core:PlantMachinery2021-12-012022-11-30SC614395core:Vehicles2021-12-012022-11-30SC614395core:FurnitureFittings2021-12-012022-11-30SC614395core:OfficeEquipment2021-12-012022-11-30SC614395dpl:AdministrativeExpenses2021-12-012022-11-30SC614395core:NetGoodwill2021-12-012022-11-30SC614395core:IntangibleAssetsOtherThanGoodwill2021-12-012022-11-30SC614395dpl:GroupUndertakings2021-12-012022-11-30SC614395dpl:ParticipatingInterests2021-12-012022-11-30SC614395dpl:GroupUndertakingscore:ListedExchangeTraded2021-12-012022-11-30SC614395core:ListedExchangeTraded2021-12-012022-11-30SC614395dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-12-012022-11-30SC614395core:UnlistedNon-exchangeTraded2021-12-012022-11-30SC614395core:NetGoodwill2023-11-30SC614395core:IntangibleAssetsOtherThanGoodwill2023-11-30SC614395core:LandBuildings2023-11-30SC614395core:PlantMachinery2023-11-30SC614395core:Vehicles2023-11-30SC614395core:FurnitureFittings2023-11-30SC614395core:OfficeEquipment2023-11-30SC614395core:AfterOneYear2023-11-30SC614395core:WithinOneYear2023-11-30SC614395core:ListedExchangeTraded2023-11-30SC614395core:UnlistedNon-exchangeTraded2023-11-30SC614395core:ShareCapital2023-11-30SC614395core:SharePremium2023-11-30SC614395core:RevaluationReserve2023-11-30SC614395core:OtherReservesSubtotal2023-11-30SC614395core:RetainedEarningsAccumulatedLosses2023-11-30SC614395core:NetGoodwill2022-11-30SC614395core:IntangibleAssetsOtherThanGoodwill2022-11-30SC614395core:LandBuildings2022-11-30SC614395core:PlantMachinery2022-11-30SC614395core:Vehicles2022-11-30SC614395core:FurnitureFittings2022-11-30SC614395core:OfficeEquipment2022-11-30SC614395core:AfterOneYear2022-11-30SC614395core:WithinOneYear2022-11-30SC614395core:ListedExchangeTraded2022-11-30SC614395core:UnlistedNon-exchangeTraded2022-11-30SC614395core:ShareCapital2022-11-30SC614395core:SharePremium2022-11-30SC614395core:RevaluationReserve2022-11-30SC614395core:OtherReservesSubtotal2022-11-30SC614395core:RetainedEarningsAccumulatedLosses2022-11-30SC614395core:NetGoodwill2021-12-01SC614395core:IntangibleAssetsOtherThanGoodwill2021-12-01SC614395core:LandBuildings2021-12-01SC614395core:PlantMachinery2021-12-01SC614395core:Vehicles2021-12-01SC614395core:FurnitureFittings2021-12-01SC614395core:OfficeEquipment2021-12-01SC614395core:AfterOneYear2021-12-01SC614395core:WithinOneYear2021-12-01SC614395core:ListedExchangeTraded2021-12-01SC614395core:UnlistedNon-exchangeTraded2021-12-01SC614395core:ShareCapital2021-12-01SC614395core:SharePremium2021-12-01SC614395core:RevaluationReserve2021-12-01SC614395core:OtherReservesSubtotal2021-12-01SC614395core:RetainedEarningsAccumulatedLosses2021-12-01SC614395core:AfterOneYear2022-12-012023-11-30SC614395core:WithinOneYear2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:CostValuation2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-12-012023-11-30SC614395core:Non-currentFinancialInstrumentscore:CostValuation2023-11-30SC614395core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-11-30SC614395core:Non-currentFinancialInstrumentscore:CostValuation2022-11-30SC614395core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-11-30SC614395core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-11-30SC614395core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-11-30SC614395core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-11-30SC614395core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-11-30SC614395core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-11-30SC614395core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-11-30SC614395core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-11-30SC614395bus:Director12022-12-012023-11-30

LOMOND TRADING LTD

Registered Number
SC614395
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

LOMOND TRADING LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

SHAW, Euan Stewart Warren

Registered Address

272 Bath Street
Glasgow
G2 4JR

Registered Number

SC614395 (Scotland)
LOMOND TRADING LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3135
Tangible assets470,25082,275
70,25182,310
Current assets
Stocks51,3171,463
Debtors8,60727,734
Cash at bank and on hand2,9461,436
12,87030,633
Creditors amounts falling due within one year6(159,530)(156,114)
Net current assets (liabilities)(146,660)(125,481)
Total assets less current liabilities(76,409)(43,171)
Creditors amounts falling due after one year7(8,142)(11,104)
Net assets(84,551)(54,275)
Capital and reserves
Called up share capital100100
Profit and loss account(84,651)(54,375)
Shareholders' funds(84,551)(54,275)
The financial statements were approved and authorised for issue by the Director on 30 August 2024, and are signed on its behalf by:
SHAW, Euan Stewart Warren
Director
Registered Company No. SC614395
LOMOND TRADING LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery-5
Vehicles25-
Office Equipment-3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year00
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 223535
Disposals(34)(34)
At 30 November 2311
Net book value
At 30 November 2311
At 30 November 223535
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 December 2250,63579,15124,095153,881
Additions12,561-1,69514,256
At 30 November 2363,19679,15125,790168,137
Depreciation and impairment
At 01 December 2213,54042,75615,31071,606
Charge for year11,96710,3114,00326,281
At 30 November 2325,50753,06719,31397,887
Net book value
At 30 November 2337,68926,0846,47770,250
At 30 November 2237,09536,3958,78582,275
5.Stocks

2023

2022

££
Other stocks1,3171,463
Total1,3171,463
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,3141,200
Amounts owed to related parties157,567154,464
Taxation and social security(100)-
Accrued liabilities and deferred income749450
Total159,530156,114
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts8,14211,104
Total8,14211,104