Loudonhill Limited 10923860 false 2024-01-01 2024-10-31 2024-10-31 The principal activity of the company is management consultancy activities other than financial management Digita Accounts Production Advanced 6.30.9574.0 true true 10923860 2024-01-01 2024-10-31 10923860 2024-10-31 10923860 core:OtherDeferredTax 2024-10-31 10923860 core:CurrentFinancialInstruments 2024-10-31 10923860 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 10923860 core:FurnitureFittingsToolsEquipment 2024-10-31 10923860 bus:SmallEntities 2024-01-01 2024-10-31 10923860 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-10-31 10923860 bus:FilletedAccounts 2024-01-01 2024-10-31 10923860 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-10-31 10923860 bus:RegisteredOffice 2024-01-01 2024-10-31 10923860 bus:Director1 2024-01-01 2024-10-31 10923860 bus:Director2 2024-01-01 2024-10-31 10923860 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-10-31 10923860 core:FurnitureFittings 2024-01-01 2024-10-31 10923860 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-10-31 10923860 countries:EnglandWales 2024-01-01 2024-10-31 10923860 2023-12-31 10923860 core:FurnitureFittingsToolsEquipment 2023-12-31 10923860 2023-01-01 2023-12-31 10923860 2023-12-31 10923860 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 10923860 core:CurrentFinancialInstruments 2023-12-31 10923860 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10923860 core:FurnitureFittingsToolsEquipment 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 10923860

Prepared for the registrar

Loudonhill Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 January 2024 to 31 October 2024

 

Loudonhill Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Loudonhill Limited

Company Information

Directors

Mr N Smith

Mrs J Smith

Registered office

18 Lancaster Grove
London
NW3 4PB

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Loudonhill Limited

(Registration number: 10923860)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

5,122

Current assets

 

Debtors

5

215,334

214,943

Cash at bank and in hand

 

114,844

74,255

 

330,178

289,198

Creditors: Amounts falling due within one year

6

(79,832)

(55,897)

Net current assets

 

250,346

233,301

Total assets less current liabilities

 

250,346

238,423

Deferred tax liabilities

7

-

(1,281)

Net assets

 

250,346

237,142

Capital and reserves

 

Called up share capital

100

100

Retained earnings

250,246

237,042

Shareholders' funds

 

250,346

237,142

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:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 March 2025 and signed on its behalf by:
 


Mr N Smith
Director

 

Loudonhill Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 October 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18 Lancaster Grove
London
NW3 4PB
England

 

2

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

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 and after eliminating sales within the company.

 

Loudonhill Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 October 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20%/33.33% Straight line

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

 

Loudonhill Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 October 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2023 - 0).

 

Loudonhill Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 October 2024

 

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 January 2024

37,779

37,779

Additions

1,166

1,166

Disposals

(38,945)

(38,945)

At 31 October 2024

-

-

Depreciation

At 1 January 2024

32,658

32,658

Charge for the year

2,523

2,523

Eliminated on disposal

(35,181)

(35,181)

At 31 October 2024

-

-

Carrying amount

At 31 October 2024

-

-

At 31 December 2023

5,122

5,122

 

Loudonhill Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 October 2024

 

5

Debtors

2024
£

2023
£

Trade debtors

15,203

56,908

Receivables from related parties

74,140

144,536

Other debtors

125,991

13,499

215,334

214,943

 

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

-

4,500

Amounts due to related parties

1,355

18,555

Taxation and social security

75,202

28,457

Accruals and deferred income

3,275

4,385

79,832

55,897

 

7

Deferred tax

Deferred tax assets and liabilities

2024

Asset
£

Short term timing differences

1

1

2023

Liability
£

Accumulated depreciation, amortisation and capital allowances

1,281

1,281

 

8

Related party transactions

Transactions with directors
At the balance sheet date the amount owed from directors was £74,140 (2023 £144,536)

Transactions with other related parties
At the balance sheet date the amount owed to other related parties was £1,355 (2023 £18,555)