2023-05-012024-04-302024-04-30falseSC595140LORIMER CAPITAL 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LORIMER CAPITAL LIMITED

Registered Number
SC595140
(Scotland)

Unaudited Financial Statements for the Year ended
30 April 2024

LORIMER CAPITAL LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

LORIMER, Raymond Hastings

Registered Address

18 Taylor Street
Ayr
KA8 8AU

Registered Number

SC595140 (Scotland)
LORIMER CAPITAL LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments3295,100295,100
295,100295,100
Current assets
Debtors410,418392
Cash at bank and on hand498703
10,9161,095
Creditors amounts falling due within one year5(297,158)(337,679)
Net current assets (liabilities)(286,242)(336,584)
Total assets less current liabilities8,858(41,484)
Net assets8,858(41,484)
Capital and reserves
Called up share capital11
Profit and loss account8,857(41,485)
Shareholders' funds8,858(41,484)
The financial statements were approved and authorised for issue by the Director on 13 September 2024, and are signed on its behalf by:
LORIMER, Raymond Hastings
Director
Registered Company No. SC595140
LORIMER CAPITAL LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

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.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year00
3.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 May 23295,100295,100
At 30 April 24295,100295,100
Net book value
At 30 April 24295,100295,100
At 30 April 23295,100295,100

Notes

1Investments in group undertakings and participating interests
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables10,418392
Total10,418392
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-211
Bank borrowings and overdrafts19,71987,069
Amounts owed to related parties277,439249,439
Accrued liabilities and deferred income-960
Total297,158337,679
6.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
LORIMER, Raymond Hastings(11,169)30,888019,719
(11,169)30,888019,719
7.Related party transactions
Lorimer Capital Limited and Tomorrows Energy Saving Technologies Limited; SC491141, are related by virtue of common control. At 30 April 2024, Tomorrows Energy Saving Technologies Limited owes Lorimer Capital Limited £6,417 (2023: £392). The Loan is interest free and has no fixed date for repayment.