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Registered number: SC660550
Lamont Property Solutions Ltd
Financial Statements
For The Year Ended 31 May 2024
Gillespie's Fife
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of Lamont Property Solutions Ltd for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lamont Property Solutions Ltd for the year ended 31 May 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of Lamont Property Solutions Ltd , as a body, in accordance with the terms of our engagement letter dated 21 March 2022. Our work has been undertaken solely to prepare for your approval the accounts of Lamont Property Solutions Ltd and state those matters that we have agreed to state to the director of Lamont Property Solutions Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lamont Property Solutions Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that Lamont Property Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Lamont Property Solutions Ltd . You consider that Lamont Property Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Lamont Property Solutions Ltd . 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 financial statements.
Signed
21st February 2025
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
Page 1
Page 2
Balance Sheet
Registered number: SC660550
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 13,211 13,211
Investments 5 1 1
13,212 13,212
CURRENT ASSETS
Stocks 6 33,704 23,653
Debtors 7 73,675 73,675
Cash at bank and in hand 118 4,372
107,497 101,700
Creditors: Amounts Falling Due Within One Year 8 (155,386 ) (140,142 )
NET CURRENT ASSETS (LIABILITIES) (47,889 ) (38,442 )
TOTAL ASSETS LESS CURRENT LIABILITIES (34,677 ) (25,230 )
NET LIABILITIES (34,677 ) (25,230 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (34,678 ) (25,231 )
SHAREHOLDERS' FUNDS (34,677) (25,230)
Page 2
Page 3
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Lamont
Director
21st February 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Lamont Property Solutions Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC660550 . The registered office is 57 Omar Crescent, Buckhaven, Fife, KY8 1DS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
1Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 June 2023 13,211
As at 31 May 2024 13,211
Net Book Value
As at 31 May 2024 13,211
As at 1 June 2023 13,211
5. Investments
Subsidiaries
£
Cost
As at 1 June 2023 1
As at 31 May 2024 1
Provision
As at 1 June 2023 -
As at 31 May 2024 -
Net Book Value
As at 31 May 2024 1
As at 1 June 2023 1
Page 4
Page 5
6. Stocks
2024 2023
£ £
Work in progress 33,704 23,653
7. Debtors
2024 2023
£ £
Due within one year
Amounts owed by subsidiaries 73,675 73,675
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 594 -
Other creditors 151,150 135,150
Accruals and deferred income 642 594
Director's loan account 3,000 4,398
155,386 140,142
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Creditors are the following loans from directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Thomas Lamont 4,398 1,398 - - 3,000
The above loan is unsecured, interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is Thomas Lamont by virtue of his ownership of 100% of the issued share capital in the company.
Page 5