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REGISTERED NUMBER: SC385426 (Scotland)















Financial Statements for the Year Ended 31 March 2024

for

LANTHORNE CONSTRUCTION LIMITED

LANTHORNE CONSTRUCTION LIMITED (REGISTERED NUMBER: SC385426)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 2


LANTHORNE CONSTRUCTION LIMITED (REGISTERED NUMBER: SC385426)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 8,443 10,554

Current assets
Debtors 5 548 3,199
Cash at bank 7,441 8,036
7,989 11,235
Creditors
Amounts falling due within one year 6 (57,240 ) (58,910 )
Net current liabilities (49,251 ) (47,675 )
Total assets less current liabilities (40,808 ) (37,121 )

Capital and reserves
Called up share capital 2 2
Retained earnings (40,810 ) (37,123 )
Shareholders' funds (40,808 ) (37,121 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 September 2024 and were signed on its behalf by:





J Glass - Director


LANTHORNE CONSTRUCTION LIMITED (REGISTERED NUMBER: SC385426)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

Lanthorne Construction 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: SC385426

Registered office: Blair Drummond House
Blair Drummond
Stirling
FK9 4UT

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned companies within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Construction contracts

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to quantity surveyor certificates. .

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant & equipment - 20% on reducing balance

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.


LANTHORNE CONSTRUCTION LIMITED (REGISTERED NUMBER: SC385426)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


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.

Hire purchase and leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

Going concern
The company meets its day to day working capital requirements through financial support from its parent company. On the basis of the projected cash flow information the directors consider that the company will operate within the agreed support and therefore the financial statements have been prepared on a going concern basis. The financial statements do not include any adjustment that would result from a withdrawal of the support.

3. Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

LANTHORNE CONSTRUCTION LIMITED (REGISTERED NUMBER: SC385426)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. Tangible fixed assets
Plant &
equipment
£   
Cost
At 1 April 2023
and 31 March 2024 45,239
Depreciation
At 1 April 2023 34,685
Charge for year 2,111
At 31 March 2024 36,796
Net book value
At 31 March 2024 8,443
At 31 March 2023 10,554

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Prepayments and accrued income 548 3,199

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors - 2,719
Amounts owed to group undertakings 56,190 54,991
Accruals 1,050 1,200
57,240 58,910

7. Parent/subsidiary relations

The company's parent undertaking is Camphill (Blair Drummond) Trust Limited, whose registered office is Blair Drummond House, Stirling, FK9 4UT.