REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
L.T.C. Distributors (Scotland) Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
L.T.C. Distributors (Scotland) Ltd |
L.T.C. Distributors (Scotland) Ltd (Registered number: SC475327) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
L.T.C. Distributors (Scotland) Ltd |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bank Chambers |
31 The Square |
Cumnock |
Ayrshire |
KA18 1AT |
L.T.C. Distributors (Scotland) Ltd (Registered number: SC475327) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
L.T.C. Distributors (Scotland) Ltd (Registered number: SC475327) |
Balance Sheet - continued |
30 April 2024 |
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 |
L.T.C. Distributors (Scotland) Ltd (Registered number: SC475327) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
L.T.C. Distributors (Scotland) Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Asset Class | Estimated useful life | method | annual rate |
Heritable Property | 25 years | straight line | 4% |
Plant and Machinery | 10 years | straight line | 10% |
Fixtures and Fittings | 10 years | straight line | 10% |
Motor vehicles | 5 years | straight line | 20% |
Computer equipment | 3 years | straight line | 33% |
Stocks |
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 items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
L.T.C. Distributors (Scotland) Ltd (Registered number: SC475327) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
L.T.C. Distributors (Scotland) Ltd (Registered number: SC475327) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Transactions with Directors |
A Mobarik Director's loan account | 30.4.24 | 30.4.23 |
£ | £ |
Balance due to Director at 1.5.2023 | 1,095 | 1,095 |
Balance due to Director at 30.4.2024 | 1,095 | 1,095 |
Loans to the company are interest free and repayable on demand. |
8. | RELATED PARTY DISCLOSURES |
LTC Distributors (Scotland) Ltd rent business premises from ATM Properties, |
a property partnership in which Mr A Mobarik (Director) and Mrs T Mobarik (Director) are partners. |
Transactions between ATM Properties and LTC Distributors (Scotland) Ltd in the year to 30 April 2024 |
were as follows: |
30.4.24 | 30.4.23 |
£ | £ |
Rental charges made by ATM Properties | 200,000 | 200,000 |
Amounts paid to ATM Properties | (200,000 | ) | (200,000 | ) |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is A Mobarik. |