Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-08212024-01-01falsetruefalseNo description of principal activity21falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC630534 2024-01-01 2024-12-31 SC630534 2023-01-01 2023-12-31 SC630534 2024-12-31 SC630534 2023-12-31 SC630534 c:CompanySecretary1 2024-01-01 2024-12-31 SC630534 c:Director1 2024-01-01 2024-12-31 SC630534 c:Director2 2024-01-01 2024-12-31 SC630534 c:Director3 2024-01-01 2024-12-31 SC630534 c:Director4 2024-01-01 2024-12-31 SC630534 c:Director4 2024-12-31 SC630534 c:RegisteredOffice 2024-01-01 2024-12-31 SC630534 d:Buildings 2024-01-01 2024-12-31 SC630534 d:Buildings 2024-12-31 SC630534 d:Buildings 2023-12-31 SC630534 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC630534 d:PlantMachinery 2024-01-01 2024-12-31 SC630534 d:PlantMachinery 2024-12-31 SC630534 d:PlantMachinery 2023-12-31 SC630534 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC630534 d:MotorVehicles 2024-01-01 2024-12-31 SC630534 d:MotorVehicles 2024-12-31 SC630534 d:MotorVehicles 2023-12-31 SC630534 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC630534 d:OfficeEquipment 2024-01-01 2024-12-31 SC630534 d:OfficeEquipment 2024-12-31 SC630534 d:OfficeEquipment 2023-12-31 SC630534 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC630534 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 SC630534 d:Goodwill 2024-01-01 2024-12-31 SC630534 d:Goodwill 2024-12-31 SC630534 d:Goodwill 2023-12-31 SC630534 d:CurrentFinancialInstruments 2024-12-31 SC630534 d:CurrentFinancialInstruments 2023-12-31 SC630534 d:Non-currentFinancialInstruments 2024-12-31 SC630534 d:Non-currentFinancialInstruments 2023-12-31 SC630534 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 SC630534 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC630534 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 SC630534 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC630534 d:ShareCapital 2024-12-31 SC630534 d:ShareCapital 2023-12-31 SC630534 d:SharePremium 2024-12-31 SC630534 d:SharePremium 2023-12-31 SC630534 d:RetainedEarningsAccumulatedLosses 2024-12-31 SC630534 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC630534 c:OrdinaryShareClass2 2024-01-01 2024-12-31 SC630534 c:OrdinaryShareClass2 2024-12-31 SC630534 c:OrdinaryShareClass2 2023-12-31 SC630534 c:OrdinaryShareClass3 2024-01-01 2024-12-31 SC630534 c:OrdinaryShareClass3 2024-12-31 SC630534 c:OrdinaryShareClass3 2023-12-31 SC630534 c:OrdinaryShareClass4 2024-01-01 2024-12-31 SC630534 c:OrdinaryShareClass4 2024-12-31 SC630534 c:OrdinaryShareClass4 2023-12-31 SC630534 c:FRS102 2024-01-01 2024-12-31 SC630534 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 SC630534 c:FullAccounts 2024-01-01 2024-12-31 SC630534 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC630534 6 2024-01-01 2024-12-31 SC630534 d:Goodwill d:OwnedIntangibleAssets 2024-01-01 2024-12-31 SC630534 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC630534










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

 
LEN LOTHIAN HOLDINGS LIMITED
 

COMPANY INFORMATION


Directors
Mr D T Lothian 
Mrs C H Lothian 
Mrs J I Arthur 
Mr G B S McKenzie (resigned 5 April 2024)




Company secretary
Turcan Connell Company Secretaries Limited



Registered number
SC630534



Registered office
11 Bankhead Broadway

Edinburgh

Midlothian

EH11 4 DB




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
LEN LOTHIAN HOLDINGS LIMITED
REGISTERED NUMBER: SC630534

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 4 
-
3,293,084

Tangible assets
 5 
6,813,288
3,732,646

Investments
 6 
13,471,359
10,348,568

  
20,284,647
17,374,298

Current assets
  

Stocks
  
-
8,824

Debtors: amounts falling due within one year
 7 
-
227,942

Bank and cash balances
  
444,935
170,705

  
444,935
407,471

Creditors: amounts falling due within one year
 8 
(4,768,004)
(4,029,760)

Net current liabilities
  
 
 
(4,323,069)
 
 
(3,622,289)

Total assets less current liabilities
  
15,961,578
13,752,009

Creditors: amounts falling due after more than one year
 9 
(2,429,276)
(3,487,426)

Provisions for liabilities
  

Deferred tax
  
(449,004)
(389,211)

  
 
 
(449,004)
 
 
(389,211)

Net assets
  
13,083,298
9,875,372


Capital and reserves
  

Called up share capital 
 10 
25,000
25,000

Share premium account
  
7,136,000
7,136,000

Profit and loss account
  
5,922,298
2,714,372

  
13,083,298
9,875,372


Page 1

 
LEN LOTHIAN HOLDINGS LIMITED
REGISTERED NUMBER: SC630534

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 on 8 May 2025.




Mr D T Lothian
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
LEN LOTHIAN HOLDINGS LIMITED
 

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

1.


General information

Len Lothian Holdings Limited is a private company, limited by shares, incorporated in Scotland with registration SC630534. The registered office is 11 Bankhead Broadway, Edinburgh, Midlothian, Scotland, EH11 4DB.
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

Exemption from preparing consolidated financial statements

The Company and the Group headed by it qualify as small as set out in section 383 of the Companies Act 2006 and the Parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

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 HOLDINGS LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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% 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.

 
2.5

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.

 
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.

Page 4

 
LEN LOTHIAN HOLDINGS LIMITED
 

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

2.Accounting policies (continued)

 
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 HOLDINGS 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.

 
2.12

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
20
years

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 6

 
LEN LOTHIAN HOLDINGS LIMITED
 

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

3.


Employees

The average monthly number of employees, including the directors, during the period was 17 (2023 - 21).


4.


Intangible assets




Goodwill

£





At 1 January 2024
4,087,042


Disposals
(4,087,042)



At 31 December 2024

-





At 1 January 2024
793,958


Charge for the year on owned assets
170,293


On disposals
(964,251)



At 31 December 2024

-



Net book value



At 31 December 2024
-



At 31 December 2023
3,293,084

The group's trading operations were hived down to the subsidiary company during the year, resulting in the transfer of goodwill net book value of £3,122,791 from goodwill to investments.



Page 7

 
LEN LOTHIAN HOLDINGS LIMITED
 

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

5.


Tangible fixed assets





Land and buildings
Plant and machinery
Motor vehicles
Storage units
Total

£
£
£
£
£



Cost or valuation


At 1 January 2024
3,727,132
1,600,629
17,135
1,214,323
6,559,219


Additions
168,637
671
48,235
15,270
232,813


Transfers intra group
3,808,754
603,350
54,965
513,108
4,980,177



At 31 December 2024

7,704,523
2,204,650
120,335
1,742,701
11,772,209



Depreciation


At 1 January 2024
1,068,242
1,068,651
17,135
672,545
2,826,573


Charge for the year on owned assets
57,410
93,109
9,940
46,068
206,527


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



At 31 December 2024

2,124,794
1,647,070
82,040
1,105,017
4,958,921



Net book value



At 31 December 2024
5,579,729
557,580
38,295
637,684
6,813,288



At 31 December 2023
2,658,890
531,978
-
541,778
3,732,646

Included in land and buildings at 31st December 2024 is land at a cost of £3,758,830.
Included within land and buildings at 31st December 2024 is £50,264 in respect to finance costs.


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2024
10,348,568


Additions
3,122,791



At 31 December 2024
13,471,359




Len Lothian Holdings Limited owns 100% of the issued share capital in Len Lothian Limited.

Page 8

 
LEN LOTHIAN HOLDINGS LIMITED
 

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

7.


Debtors

2024
2023
£
£


Trade debtors
-
124,657

Other debtors
-
7,571

Prepayments and accrued income
-
95,714

-
227,942



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,199,934
265,489

Trade creditors
115,372
173,589

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

Other taxation and social security
187,917
229,998

Obligations under finance lease and hire purchase contracts
90,073
105,026

Other creditors
443,835
521,029

Accruals and deferred income
52,299
418,558

4,768,004
4,029,760


Secured loans
The bank loans are secured by a standard security over the company's freehold property and by a floating charge over the whole assets of the company.
Net obligations under hire purchase creditors are secured by the relevant assets.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
2,294,952
3,263,030

Net obligations under finance leases and hire purchase contracts
134,324
224,396

2,429,276
3,487,426


Secured loans
The bank loans are secured by a standard security over the company's freehold property and by a floating charge over the whole assets of the company.
Net obligations under hire purchase creditors are secured by the relevant assets.

Page 9

 
LEN LOTHIAN HOLDINGS LIMITED
 

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

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



21,250 (2022 - 21,250) Ordinary A Shares shares of £1.00 each
21,250
21,250
2,500 (2022 - 2,500) Ordinary B Shares shares of £1.00 each
2,500
2,500
1,250 (2022 - 1,250) Ordinary C Shares shares of £1.00 each
1,250
1,250

25,000

25,000



11.


Contigent liability

An unlimited cross guarantee has been granted to Virgin Money in connection with the bank borrowings of Len Lothian Limited. The total gross bank borrowings of Len Lothian Limited subject to this guarantee was £18,333 as at 31 December 2024.


Page 10