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Registration number: SC252826

Loch Torridon Estate Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Loch Torridon Estate Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Loch Torridon Estate Ltd

Company Information

Directors

Mr Felix Von Racknitz

Sarah Von Racknitz

Company secretary

Sarah Von Racknitz

Registered office

Torridon House
Torridon
Wester Ross
IV22 2HA

Accountants

Delphi Accounting Ltd
Chartered Tax AdvisersUnit M6
Frome Business Park
Manor Road
Frome
Somerset
BA11 4FN

 

Loch Torridon Estate Ltd

(Registration number: SC252826)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

39,222

58,372

Current assets

 

Debtors

5

39,721

47,159

Cash at bank and in hand

 

458

2,832

 

40,179

49,991

Creditors: Amounts falling due within one year

6

(155,323)

(116,763)

Net current liabilities

 

(115,144)

(66,772)

Total assets less current liabilities

 

(75,922)

(8,400)

Creditors: Amounts falling due after more than one year

6

(337,014)

(341,962)

Net liabilities

 

(412,936)

(350,362)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(413,036)

(350,462)

Shareholders' deficit

 

(412,936)

(350,362)

For the financial year ending 30 November 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 year 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 and 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 18 June 2025 and signed on its behalf by:
 

.........................................
Mr Felix Von Racknitz
Director

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Torridon House
Torridon
Wester Ross
IV22 2HA
Scotland

These financial statements were authorised for issue by the Board on 18 June 2025.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

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:

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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.

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 subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 December 2023

2,452

94,643

61,406

10,529

Additions

-

-

751

-

At 30 November 2024

2,452

94,643

62,157

10,529

Depreciation

At 1 December 2023

74

71,961

29,270

9,353

Charge for the year

245

8,678

10,343

635

At 30 November 2024

319

80,639

39,613

9,988

Carrying amount

At 30 November 2024

2,133

14,004

22,544

541

At 30 November 2023

2,378

22,682

32,136

1,176

Total
£

Cost or valuation

At 1 December 2023

169,030

Additions

751

At 30 November 2024

169,781

Depreciation

At 1 December 2023

110,658

Charge for the year

19,901

At 30 November 2024

130,559

Carrying amount

At 30 November 2024

39,222

At 30 November 2023

58,372

Included within the net book value of land and buildings above is £2,133 (2023 - £2,378) in respect of freehold land and buildings.
 

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

300

-

Prepayments

3,554

-

Other debtors

35,867

47,159

 

39,721

47,159

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

45,422

64,451

Trade creditors

 

11,323

4,552

Taxation and social security

 

93,829

43,009

Accruals and deferred income

 

4,750

4,750

Other creditors

 

(1)

1

 

155,323

116,763

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

337,014

341,962

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0 each

-

-

-

-

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

323,847

323,542

Hire purchase contracts

13,167

18,420

337,014

341,962

Current loans and borrowings

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

2024
£

2023
£

Bank borrowings

28,580

55,716

Bank overdrafts

11,089

-

Hire purchase contracts

5,753

8,735

45,422

64,451

9

Related party transactions

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr Felix Von Racknitz

Felix and Sarah Von Racknitz

41,491

61,624

(79,583)

23,532

 

Loch Torridon Estate Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

18,200

18,200