Company registration number SC352968 (Scotland)
LOCHABER LODGES (RENTALS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LOCHABER LODGES (RENTALS) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LOCHABER LODGES (RENTALS) LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,200
7,223
Current assets
Debtors
4
801
1,286
Cash at bank and in hand
12,059
15,421
12,860
16,707
Creditors: amounts falling due within one year
5
(27,932)
(18,652)
Net current liabilities
(15,072)
(1,945)
Total assets less current liabilities
3,128
5,278
Creditors: amounts falling due after more than one year
6
(10,045)
(12,666)
Net liabilities
(6,917)
(7,388)
Capital and reserves
Called up share capital
7
10
10
Profit and loss reserves
(6,927)
(7,398)
Total equity
(6,917)
(7,388)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LOCHABER LODGES (RENTALS) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 March 2025 and are signed on its behalf by:
Mr M Mathieson
Director
Company Registration No. SC352968
LOCHABER LODGES (RENTALS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Lochaber Lodges (Rentals) Ltd is a private company limited by shares incorporated in Scotland. The registered office is Moy Farm, Banavie, Fort William, Inverness-Shire, United Kingdom, PH33 7PD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
At the year end, the company had net liabilities of £6,917. The directors have confirmed that they will continue to provide financial support to the company until such time that the financial position improves. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
LOCHABER LODGES (RENTALS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
6
3
Tangible fixed assets
Plant and equipment
£
Cost
At 1 January 2024
14,630
Additions
22,750
Disposals
(14,630)
At 31 December 2024
22,750
Depreciation and impairment
At 1 January 2024
7,407
Depreciation charged in the year
4,550
Eliminated in respect of disposals
(7,407)
At 31 December 2024
4,550
Carrying amount
At 31 December 2024
18,200
At 31 December 2023
7,223
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
801
1,286
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
9,274
Accruals and deferred income
18,658
18,652
27,932
18,652
LOCHABER LODGES (RENTALS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,045
12,666
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
10
10
10
10
8
Related party transactions
Transactions with related parties
The Firm of Moy Farm
The majority shareholder of Lochaber Lodges (Rentals) Ltd, holds 8 shares representing 80% of the share capital of Lochaber Lodges (Lettings) Ltd.
The Firm of Moy Farm
The majority shareholder of Lochaber Lodges (Rentals) Ltd, holds 8 shares representing 80% of the share capital of Lochaber Lodges (Sales) Ltd.
At 31 December 2024 £9,274 (2023: nil) was due to Moy Farm.
9
Ultimate Controlling Party
The Firm of Moy Farm is the ultimate controlling party.