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REGISTERED NUMBER: SC479653 (Scotland)




















SHANDON LOCH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 8

SHANDON LOCH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: W J McDonald





REGISTERED OFFICE: Avonhaugh Nursing Home
97 Lawrie Street
Stonehouse
Larkhall
ML9 3LN





REGISTERED NUMBER: SC479653 (Scotland)





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

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,341,185 1,408,644

CURRENT ASSETS
Debtors 5 521,015 268,057
Prepayments and accrued income 7,499 43,018
Cash at bank and in hand 84,025 29,062
612,539 340,137
CREDITORS
Amounts falling due within one year 6 469,318 472,350
NET CURRENT ASSETS/(LIABILITIES) 143,221 (132,213 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,484,406

1,276,431

CREDITORS
Amounts falling due after more than one
year

7

(909,635

)

(1,004,585

)

PROVISIONS FOR LIABILITIES 11 (20,160 ) (23,976 )

ACCRUALS AND DEFERRED INCOME (177,504 ) (107,573 )
NET ASSETS 377,107 140,297

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 377,007 140,197
SHAREHOLDERS' FUNDS 377,107 140,297

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

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

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 January 2025 and were signed by:




W J McDonald - Director


SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

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

1. STATUTORY INFORMATION

Shandon Loch 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.

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.

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.
Heritable property - 2% on cost
Improvements to property - 2% on cost
Fixtures fittings and equipment - 20% on cost
Motor vehicles - 25% on reducing balance

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
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 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 78 (2023 - 76 ) .

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Improvements fittings
Heritable to and Motor
property property equipment vehicles Totals
£    £    £    £    £   
COST
At 1 August 2023 1,074,219 304,878 389,555 52,990 1,821,642
Additions - 10,081 9,280 - 19,361
At 31 July 2024 1,074,219 314,959 398,835 52,990 1,841,003
DEPRECIATION
At 1 August 2023 146,812 31,421 214,087 20,678 412,998
Charge for year 21,484 6,273 50,986 8,077 86,820
At 31 July 2024 168,296 37,694 265,073 28,755 499,818
NET BOOK VALUE
At 31 July 2024 905,923 277,265 133,762 24,235 1,341,185
At 31 July 2023 927,407 273,457 175,468 32,312 1,408,644

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 251,680 145,183
Other debtors 269,335 122,636
Corporation tax - 238
521,015 268,057

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 188,688 191,457
Other loans (see note 8) 4,656 4,656
Hire purchase contracts (see note 9) 5,128 4,888
Trade creditors 25,238 28,035
Corporation tax 99,839 9,861
Social security and other taxes 24,461 20,840
Other creditors 64,512 72,956
Directors' current accounts 56,796 139,657
469,318 472,350

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 889,910 975,076
Other loans (see note 8) 12,028 16,684
Hire purchase contracts (see note 9) 7,697 12,825
909,635 1,004,585

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 yrs - 641,286

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

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

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 188,688 191,457
Other loans 4,656 4,656
193,344 196,113

Amounts falling due between one and two years:
Bank loans - 1-2 years 86,970 85,181
Other loans - 1-2 years 4,656 4,656
91,626 89,837

Amounts falling due between two and five years:
Bank loans - 2-5 years 802,940 248,609
Other loans - 2-5 years 7,372 12,028
810,312 260,637

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 yrs - 641,286

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 5,128 4,888
Between one and five years 7,697 12,825
12,825 17,713

Non-cancellable operating leases
2024 2023
£    £   
Within one year 8,372 -
Between one and five years 9,963 -
18,335 -

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,078,598 1,166,533
Hire purchase contracts 12,825 17,713
1,091,423 1,184,246

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

Security for assets held under hire purchase contracts are the assets concerned.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 20,160 23,976

Deferred
tax
£   
Balance at 1 August 2023 23,976
Credit to Income Statement during year (3,816 )
Balance at 31 July 2024 20,160

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.

12. CALLED UP SHARE CAPITAL

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

13. RESERVES
Retained
earnings
£   

At 1 August 2023 140,197
Profit for the year 236,810
At 31 July 2024 377,007

14. CONTINGENT LIABILITIES

The company is owed £257,315 by Lochside Care Ltd. The recoverability of this amount is dependent on the sale of land and buildings by Lochside Care Ltd at an amount which will permit the full repayment of all creditors. The directors believe that the sale of the land and buildings will be sufficient to repay the loan in full and they have therefore not made a provision for any shortfall which could arise if the disposal of the assets in Lochside Care Ltd does not generate sufficient proceeds.

SHANDON LOCH LIMITED (REGISTERED NUMBER: SC479653)

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

15. RELATED PARTY DISCLOSURES

At the beginning of the year the company was owed £119,190 by Lochside Care Ltd, a company under common control. During the year the company advanced a further £137,900 to Lochside Care Ltd. At the balance sheet date Lochside Care Ltd owed the company £257,090.

Also during the year, advances were made on behalf of Bellerose Care Limited, a company under the control of the director. At the balance sheet date Bellerose Care Limited owed the company £6,669.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SHANDON LOCH LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 Shandon Loch Limited for the year ended 31 July 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 director of Shandon Loch Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shandon Loch Limited and state those matters that we have agreed to state to the director of Shandon Loch Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Shandon Loch 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 profit of Shandon Loch Limited. You consider that Shandon Loch 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 Shandon Loch 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


20 January 2025