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REGISTERED NUMBER: SC022568 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 December 2022

for

LORMOR LIMITED

LORMOR LIMITED (REGISTERED NUMBER: SC022568)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LORMOR LIMITED

Company Information
for the Year Ended 31 December 2022







DIRECTORS: J C Graham
Ms M McDougall





REGISTERED OFFICE: Aucheneck Estate Farm Office
Killearn
Glasgow
G63 9QN





REGISTERED NUMBER: SC022568 (Scotland)





ACCOUNTANTS: SD Business Management
Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ

LORMOR LIMITED (REGISTERED NUMBER: SC022568)

Abridged Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,620,455 5,674,853
Investment property 6 8,388,247 7,915,841
14,008,702 13,590,694

CURRENT ASSETS
Stocks 417,400 256,600
Debtors 7 754,453 712,144
Cash at bank 5,089,592 5,703,585
6,261,445 6,672,329
CREDITORS
Amounts falling due within one year 455,868 470,972
NET CURRENT ASSETS 5,805,577 6,201,357
TOTAL ASSETS LESS CURRENT LIABILITIES 19,814,279 19,792,051

PROVISIONS FOR LIABILITIES 55,209 47,942
NET ASSETS 19,759,070 19,744,109

CAPITAL AND RESERVES
Called up share capital 247,500 247,500
Retained earnings 19,511,570 19,496,609
19,759,070 19,744,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

LORMOR LIMITED (REGISTERED NUMBER: SC022568)

Abridged Balance Sheet - continued
31 December 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:




J C Graham - Director



Mrs C Graham - Director


LORMOR LIMITED (REGISTERED NUMBER: SC022568)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Lormor Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. 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 as modified by the revaluation of certain assets.

In accordance with their responsibility as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


LORMOR LIMITED (REGISTERED NUMBER: SC022568)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Properties
The company's properties are held for long term investment and in accordance with FRS 102 Section 16.

i) Investment properties are revalued annually and the aggregate surplus or deficit is transferred to the profit & loss as a non-distributable reserve; and

ii) No depreciation or amortisation is provided in respect of investment properties.

Included in the Retained Earnings is a non-distributable reserve of £4,106,097 (2021: £4,106,097).

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 9 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2022 9,615,290
Additions 258,701
Disposals (42,125 )
At 31 December 2022 9,831,866
DEPRECIATION
At 1 January 2022 3,940,437
Charge for year 313,099
Eliminated on disposal (42,125 )
At 31 December 2022 4,211,411
NET BOOK VALUE
At 31 December 2022 5,620,455
At 31 December 2021 5,674,853

LORMOR LIMITED (REGISTERED NUMBER: SC022568)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 7,915,841
Additions 472,406
At 31 December 2022 8,388,247
NET BOOK VALUE
At 31 December 2022 8,388,247
At 31 December 2021 7,915,841

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2020 (702,979 )
Cost 9,091,226
8,388,247

If Investment property had not been revalued it would have been included at the following historical cost:

31.12.22 31.12.21
£    £   
Cost 9,091,226 8,618,820

Investment property was valued on an open market basis on 31 December 2022 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 540,000 540,000

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22 31.12.21
£    £   
J C Graham
Balance outstanding at start of year 76,570 -
Amounts advanced - 76,570
Amounts repaid (76,570 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 76,570