IRIS Accounts Production v24.3.0.553 07677817 Board of Directors 1.2.23 31.1.24 31.1.24 0 false true false false true false Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076778172023-01-31076778172024-01-31076778172023-02-012024-01-31076778172021-07-31076778172021-08-012023-01-31076778172023-01-3107677817ns15:EnglandWales2023-02-012024-01-3107677817ns14:PoundSterling2023-02-012024-01-3107677817ns10:Director12023-02-012024-01-3107677817ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3107677817ns10:SmallEntities2023-02-012024-01-3107677817ns10:AuditExemptWithAccountantsReport2023-02-012024-01-3107677817ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3107677817ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3107677817ns10:FullAccounts2023-02-012024-01-3107677817ns10:OrdinaryShareClass12023-02-012024-01-3107677817ns10:Director22023-02-012024-01-3107677817ns10:CompanySecretary12023-02-012024-01-3107677817ns10:CompanySecretary22023-02-012024-01-3107677817ns10:RegisteredOffice2023-02-012024-01-3107677817ns5:CurrentFinancialInstruments2024-01-3107677817ns5:CurrentFinancialInstruments2023-01-3107677817ns5:Non-currentFinancialInstruments2024-01-3107677817ns5:Non-currentFinancialInstruments2023-01-3107677817ns5:ShareCapital2024-01-3107677817ns5:ShareCapital2023-01-3107677817ns5:RetainedEarningsAccumulatedLosses2024-01-3107677817ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-02-012024-01-3107677817ns5:LeaseholdImprovements2023-02-012024-01-3107677817ns5:LandBuildings2023-01-3107677817ns5:LeaseholdImprovements2023-01-3107677817ns5:LandBuildings2023-02-012024-01-3107677817ns5:LandBuildings2024-01-3107677817ns5:LeaseholdImprovements2024-01-3107677817ns5:LandBuildings2023-01-3107677817ns5:LeaseholdImprovements2023-01-3107677817ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3107677817ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-3107677817ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-01-3107677817ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-01-3107677817ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-3107677817ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-01-3107677817ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-01-3107677817ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-01-3107677817ns5:Secured2024-01-3107677817ns5:Secured2023-01-3107677817ns5:DeferredTaxation2023-01-3107677817ns5:DeferredTaxation2023-02-012024-01-3107677817ns5:DeferredTaxation2024-01-3107677817ns10:OrdinaryShareClass12024-01-3107677817ns5:RetainedEarningsAccumulatedLossesns5:PreviouslyStatedAmount2023-01-3107677817ns5:RetainedEarningsAccumulatedLossesns5:PriorPeriodIncreaseDecrease2023-02-012024-01-3107677817ns5:RetainedEarningsAccumulatedLosses2023-01-3107677817ns5:RetainedEarningsAccumulatedLosses2023-02-012024-01-31076778171ns10:Director12023-01-31076778171ns10:Director12021-07-31076778171ns10:Director12023-02-012024-01-31076778171ns10:Director12021-08-012023-01-31076778171ns10:Director12024-01-31076778171ns10:Director12023-01-31
REGISTERED NUMBER: 07677817 (England and Wales)




















LOCHSIDE CARE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






LOCHSIDE CARE LIMITED (REGISTERED NUMBER: 07677817)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

LOCHSIDE CARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: A Wright
W J McDonald





SECRETARIES: Mrs A C Curran
Mrs C E McDonald





REGISTERED OFFICE: 59-60 Russell Square
London
WC1B 4HP





REGISTERED NUMBER: 07677817 (England and Wales)





ACCOUNTANTS: JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD

LOCHSIDE CARE LIMITED (REGISTERED NUMBER: 07677817)

BALANCE SHEET
31 JANUARY 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 984,845 1,002,314

CURRENT ASSETS
Debtors 5 19,439 19,202
Cash at bank 5,020 2,280
24,459 21,482
CREDITORS
Amounts falling due within one year 6 587,432 417,855
NET CURRENT LIABILITIES (562,973 ) (396,373 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

421,872

605,941

CREDITORS
Amounts falling due after more than one
year

7

(596,985

)

(683,820

)

PROVISIONS FOR LIABILITIES 9 - (1,693 )

ACCRUALS AND DEFERRED INCOME (16,500 ) (25,532 )
NET LIABILITIES (191,613 ) (105,104 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 (191,614 ) (105,105 )
SHAREHOLDERS' FUNDS (191,613 ) (105,104 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:




W J McDonald - Director


LOCHSIDE CARE LIMITED (REGISTERED NUMBER: 07677817)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

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

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.

The company ceased trading as a Nursing Home on 31 January 2023. It is the intention of the directors to sell the property owned by the company in the near future. The company will then be wound up. Until such time as that happens the company will be supported by the bank and the shareholders.

Turnover
Turnover represents amounts chargeable in respect of goods and services supplied to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Heritable property - 2% on cost
Improvements to property - 2% on cost

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 32 ).

LOCHSIDE CARE LIMITED (REGISTERED NUMBER: 07677817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Improvements
Heritable to
property property Totals
£    £    £   
COST
At 1 February 2023 843,425 335,192 1,178,617
Additions - 6,125 6,125
At 31 January 2024 843,425 341,317 1,184,742
DEPRECIATION
At 1 February 2023 140,562 35,741 176,303
Charge for year 16,868 6,726 23,594
At 31 January 2024 157,430 42,467 199,897
NET BOOK VALUE
At 31 January 2024 685,995 298,850 984,845
At 31 January 2023 702,863 299,451 1,002,314

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Other debtors - 170
Corporation tax 19,439 19,032
19,439 19,202

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 109,768 123,180
Trade creditors 5,500 15,754
Other creditors 239,911 167,911
Directors' current accounts 232,253 111,010
587,432 417,855

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
as restated
£    £   
Bank loans - 1-2 years 178,948 127,127
Bank loans - 2-5 years 343,114 389,170
Bank loans due over 5 years 74,923 167,523
596,985 683,820

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due over 5 years 74,923 167,523

LOCHSIDE CARE LIMITED (REGISTERED NUMBER: 07677817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank loans 706,753 807,000

The bank borrowings are secured by a standard security plus a bond and floating charge over the assets of the company.

9. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax - 1,693

Deferred
tax
£   
Balance at 1 February 2023 1,693
Credit to Income Statement during year (1,693 )
Balance at 31 January 2024 -

The provision for deferred tax consists of the tax effect of timing differences in respect of the excess of taxation allowances over depreciation on fixed assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£    £   
100 Ordinary £0.01 1 1

11. RESERVES
Retained
earnings
£   

At 1 February 2023 (80,731 )
Prior year adjustment (24,374 )
(105,105 )
Deficit for the year (86,509 )
At 31 January 2024 (191,614 )

LOCHSIDE CARE LIMITED (REGISTERED NUMBER: 07677817)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 January 2024 and the period ended 31 January 2023:

2024 2023
as restated
£    £   
W J McDonald
Balance outstanding at start of year - 453
Amounts repaid - (453 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan was unsecured, interest free and had no fixed terms of repayment.

13. RELATED PARTY DISCLOSURES

At the beginning of the period under review Shandon Loch Limited, a company under common control, was owed £115,190 by the company. A further £35,000 was advanced by Shandon Loch Limited to the company during the year. At the year end, the company owed Shandon Loch Ltd £150,190 and this is included in other creditors.

At the beginning of the period under review, the company owed shareholders £52,721 and directors £111,010. Advances were made to the company during the year of £37,000 and £121,243 by the shareholders and directors. At the year end the company owed the directors £232,253, and the shareholders £89,721 which is included in other creditors.

The above loans are unsecured, interest free and have no fixed terms of repayment.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LOCHSIDE CARE LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lochside Care Limited for the year ended 31 January 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Lochside Care Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lochside Care Limited and state those matters that we have agreed to state to the Board of Directors of Lochside Care Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lochside Care Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lochside Care Limited. You consider that Lochside Care Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lochside Care Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






JCWallace & Co
Chartered Certified Accountants
1875 Great Western Road
Glasgow
G13 2YD


17 January 2025