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REGISTERED NUMBER: SC687587 (Scotland)


















Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Loch Goil Cruisers Limited

Loch Goil Cruisers Limited (Registered number: SC687587)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Loch Goil Cruisers Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: R Hall





REGISTERED OFFICE: Scottcourt House
West Princes Street
Helensburgh
Argyll & Bute
G84 8BP





REGISTERED NUMBER: SC687587 (Scotland)





ACCOUNTANTS: Macleod Fulton
Scottcourt House
West Princes Street
Helensburgh
Argyll & Bute
G84 8BP

Loch Goil Cruisers Limited (Registered number: SC687587)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,600 6,600
Tangible assets 5 85,553 94,461
92,153 101,061

CURRENT ASSETS
Stocks 1,500 2,000
Debtors 6 192 -
Cash at bank 779 2,683
2,471 4,683
CREDITORS
Amounts falling due within one year 7 65,833 76,985
NET CURRENT LIABILITIES (63,362 ) (72,302 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,791

28,759

CREDITORS
Amounts falling due after more than one
year

8

9,083

10,417
NET ASSETS 19,708 18,342

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 19,608 18,242
19,708 18,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Loch Goil Cruisers Limited (Registered number: SC687587)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2024 and were signed by:





R Hall - Director


Loch Goil Cruisers Limited (Registered number: SC687587)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Loch Goil Cruisers 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. 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Loch Goil Cruisers Limited (Registered number: SC687587)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 6,600
NET BOOK VALUE
At 29 February 2024 6,600
At 28 February 2023 6,600

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2023 154,316 2,969 157,285
Additions 19,836 832 20,668
At 29 February 2024 174,152 3,801 177,953
DEPRECIATION
At 1 March 2023 60,865 1,959 62,824
Charge for year 28,321 1,255 29,576
At 29 February 2024 89,186 3,214 92,400
NET BOOK VALUE
At 29 February 2024 84,966 587 85,553
At 28 February 2023 93,451 1,010 94,461

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 192 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 1,667 1,667
Hire purchase contracts 500 -
Taxation and social security 5,799 5,799
Other creditors 57,867 69,519
65,833 76,985

Loch Goil Cruisers Limited (Registered number: SC687587)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 8,750 10,417
Hire purchase contracts 333 -
9,083 10,417

9. CONTINGENT LIABILITIES

As at 29 February 2024 the company had no contingent liabilities (2023 - £nil).

10. CAPITAL COMMITMENTS

As at 29 February 2024 the company had no capital commitments (2023 - £nil).

11. RELATED PARTY DISCLOSURES

As at 29 February 2024 included in other creditors is a balance due to Mr R Hall, director of the company amounting to £53,536 (2023 - £54,269). This balance has no fixed repayment date and no interest charged thereon.