Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-08122024-01-01falseNo description of principal activity9truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC042919 2024-01-01 2024-12-31 SC042919 2023-01-01 2023-12-31 SC042919 2024-12-31 SC042919 2023-12-31 SC042919 c:CompanySecretary1 2024-01-01 2024-12-31 SC042919 c:Director1 2024-01-01 2024-12-31 SC042919 c:Director1 2024-12-31 SC042919 c:Director2 2024-01-01 2024-12-31 SC042919 c:Director3 2024-01-01 2024-12-31 SC042919 c:Director4 2024-01-01 2024-12-31 SC042919 c:RegisteredOffice 2024-01-01 2024-12-31 SC042919 d:Buildings 2024-01-01 2024-12-31 SC042919 d:Buildings d:LongLeaseholdAssets 2024-01-01 2024-12-31 SC042919 d:Buildings d:LongLeaseholdAssets 2024-12-31 SC042919 d:Buildings d:LongLeaseholdAssets 2023-12-31 SC042919 d:PlantMachinery 2024-01-01 2024-12-31 SC042919 d:PlantMachinery 2024-12-31 SC042919 d:PlantMachinery 2023-12-31 SC042919 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC042919 d:MotorVehicles 2024-01-01 2024-12-31 SC042919 d:MotorVehicles 2024-12-31 SC042919 d:MotorVehicles 2023-12-31 SC042919 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC042919 d:OfficeEquipment 2024-01-01 2024-12-31 SC042919 d:OfficeEquipment 2024-12-31 SC042919 d:OfficeEquipment 2023-12-31 SC042919 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC042919 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC042919 d:CurrentFinancialInstruments 2024-12-31 SC042919 d:CurrentFinancialInstruments 2023-12-31 SC042919 d:Non-currentFinancialInstruments 2024-12-31 SC042919 d:Non-currentFinancialInstruments 2023-12-31 SC042919 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC042919 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC042919 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 SC042919 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC042919 d:ShareCapital 2024-12-31 SC042919 d:ShareCapital 2023-12-31 SC042919 d:CapitalRedemptionReserve 2024-12-31 SC042919 d:CapitalRedemptionReserve 2023-12-31 SC042919 d:RevaluationReserve 2024-12-31 SC042919 d:RevaluationReserve 2023-12-31 SC042919 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC042919 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC042919 c:OrdinaryShareClass1 2024-01-01 2024-12-31 SC042919 c:OrdinaryShareClass1 2024-12-31 SC042919 c:OrdinaryShareClass1 2023-12-31 SC042919 c:FRS102 2024-01-01 2024-12-31 SC042919 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC042919 c:FullAccounts 2024-01-01 2024-12-31 SC042919 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC042919 d:WithinOneYear 2024-12-31 SC042919 d:WithinOneYear 2023-12-31 SC042919 d:BetweenOneFiveYears 2024-12-31 SC042919 d:BetweenOneFiveYears 2023-12-31 SC042919 5 2024-01-01 2024-12-31 SC042919 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC042919










LEN LOTHIAN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

 
LEN LOTHIAN LIMITED
 

COMPANY INFORMATION


DIRECTORS
Ms S M A Carter (appointed 13 March 2025)
Mr D T Lothian 
Mrs C H Lothian 
Mrs J I Arthur 




COMPANY SECRETARY
Mr D T Lothian



REGISTERED NUMBER
SC042919



REGISTERED OFFICE
11 Granton Square

Edinburgh

EH5 1HX




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
LEN LOTHIAN LIMITED
REGISTERED NUMBER:SC042919

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
-
3,040,589

  
-
3,040,589

Current assets
  

Stocks
  
11,664
7,470

Debtors: amounts falling due within one year
 5 
1,079,047
3,020,590

Cash at bank and in hand
  
795,619
184,233

  
1,886,330
3,212,293

Creditors: amounts falling due within one year
 6 
(1,041,809)
(502,534)

Net current assets
  
 
 
844,521
 
 
2,709,759

Total assets less current liabilities
  
844,521
5,750,348

Creditors: amounts falling due after more than one year
 7 
(8,333)
(2,250,190)

Provisions for liabilities
  

Deferred tax
  
-
(70,151)

  
 
 
-
 
 
(70,151)

Net assets
  
836,188
3,430,007


Capital and reserves
  

Called up share capital 
 8 
50,000
50,000

Revaluation reserve
  
-
14,218

Capital redemption reserve
  
50,000
50,000

Profit and loss account
  
736,188
3,315,789

  
836,188
3,430,007


Page 1

 
LEN LOTHIAN LIMITED
REGISTERED NUMBER:SC042919

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr D T Lothian
Director
Date: 8 May 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LEN LOTHIAN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Len Lothian Limited is a private company, limited by shares and incorporated in Scotland, registration number SC042919. The registered office address is 11 Granton Square, Edinburgh, EH5 1HX.
The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
LEN LOTHIAN LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Land and buildings
-
0% - 10% straight line
Plant and machinery
-
15% - 33.33% straight line
Motor vehicles
-
25% straight line
Storage units
-
7% - 15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
LEN LOTHIAN LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
LEN LOTHIAN LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 9).

Page 6

 
LEN LOTHIAN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Leasehold property
Plant and machinery
Motor vehicles
Storage units
Total

£
£
£
£
£





At 1 January 2024
3,791,954
571,029
54,965
495,098
4,913,046


Additions
16,800
32,322
-
18,010
67,132


Transfers intra group
(3,808,754)
(603,351)
(54,965)
(513,108)
(4,980,178)



At 31 December 2024

-
-
-
-
-





At 1 January 2024
977,433
463,107
54,965
376,952
1,872,457


Charge for the year on owned assets
21,709
22,203
-
9,452
53,364


Transfers intra group
(999,142)
(485,310)
(54,965)
(386,404)
(1,925,821)



At 31 December 2024

-
-
-
-
-



Net book value



At 31 December 2024
-
-
-
-
-



At 31 December 2023
2,814,521
107,922
-
118,146
3,040,589

During the year the company transferred all of the fixed assets of the company at net book value to its parent company, Len Lothian Holdings Limited

Page 7

 
LEN LOTHIAN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
199,304
127,678

Amounts owed by group undertakings
678,574
2,316,071

Other debtors
37,113
524,212

Prepayments and accrued income
164,056
52,629

1,079,047
3,020,590



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
90,837

Trade creditors
216,628
144,946

Other taxation and social security
279,525
64,422

Other creditors
15,153
23,005

Accruals and deferred income
520,503
179,324

1,041,809
502,534


Included within bank loans is a loan in the amount £NIL (2023 - £80,837) which is secured by a standard security over the company's freehold property.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
8,333
2,250,190


Included within bank loans is a loan in the amount £NIL (2023 - £2,231,856) which is secured by a standard security over the company's freehold property.


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50,000 (2023 - 50,000) Ordinary shares of £1.00 each
50,000
50,000


Page 8

 
LEN LOTHIAN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
1,020,958
18,495

Later than 1 year and not later than 5 years
8,830,020
10,090

9,850,978
28,585

Included within not later than 1 year is an amount totalling £996,301 in relation to the rent of various properties from the parent Company, Len Lothian Holdings Limited.
Included within later than 1 year and not later than 5 years is an amount totalling £8,800,659 in relation to the rent of various properties from the parent Company, Len Lothian Holdings Limited.


10.


Contingent liability

An unlimited cross guarantee has been granted to Virgin Money in connection with the bank borrowings of Len Lothian Holdings Limited. The total gross bank borrowings of Len Lothian Holdings Limited subject to guarantee was £5,494,886 as at 31 December 2024.


11.


Controlling party

The Company is a wholly owned subsidiary of Len Lothian Holdings Limited, a Company registered in Scotland. The registered office and principal place of business is 11 Bankhead Broadway, Edinburgh, Midlothian, EH11 4DB.


Page 9