Registration number:
Lochavullin Commercial Limited
for the Period from 26 October 2023 to 31 October 2024
Lochavullin Commercial Limited
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Lochavullin Commercial Limited
Company Information
Directors |
Mr Paul Sloan Mr Calum Maclachlainn |
Company secretary |
Katy Cameron |
Registered office |
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Accountants |
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Lochavullin Commercial Limited
Directors' Report for the Period from 26 October 2023 to 31 October 2024
The directors present their report and the financial statements for the period from 26 October 2023 to 31 October 2024.
Incorporation
The company was incorporated on
Directors of the company
The directors who held office during the period were as follows:
Principal activity
The principal activity of the company is letting of commercial property
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lochavullin Commercial Limited
for the Period Ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lochavullin Commercial Limited for the period ended 31 October 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given 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/regulation.
This report is made solely to the Board of Directors of Lochavullin Commercial Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lochavullin Commercial Limited and state those matters that we have agreed to state to the Board of Directors of Lochavullin Commercial Limited, 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 Lochavullin Commercial Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lochavullin Commercial Limited 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 of Lochavullin Commercial Limited. You consider that Lochavullin Commercial Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Lochavullin Commercial 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 accounts.
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1 Aldersyde
Taynuilt
Argyll
PA35 1AG
Lochavullin Commercial Limited
Profit and Loss Account for the Period from 26 October 2023 to 31 October 2024
Note |
2024 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
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Operating profit |
7,170 |
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Profit before tax |
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Tax on profit |
( |
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Profit for the financial period |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Lochavullin Commercial Limited
Statement of Comprehensive Income for the Period from 26 October 2023 to 31 October 2024
2024 |
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Profit for the period |
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Total comprehensive income for the period |
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Lochavullin Commercial Limited
(Registration number: SC787183)
Balance Sheet as at 31 October 2024
Note |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
5,808 |
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Shareholders' funds |
5,908 |
For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Lochavullin Commercial Limited
Statement of Changes in Equity for the Period from 26 October 2023 to 31 October 2024
Share capital |
Retained earnings |
Total |
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Profit for the period |
- |
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New share capital subscribed |
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- |
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At 31 October 2024 |
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Lochavullin Commercial Limited
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Lochavullin Commercial Limited
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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Additions |
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At 31 October 2024 |
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Depreciation |
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Carrying amount |
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At 31 October 2024 |
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Included within the net book value of land and buildings above is £101,980 in respect of freehold land and buildings.
Lochavullin Commercial Limited
Notes to the Unaudited Financial Statements for the Period from 26 October 2023 to 31 October 2024
Debtors |
Current |
2024 |
Trade debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Due within one year |
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Taxation and social security |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2024 |
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No. |
£ |
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100 |