Company Registration No. SC077457 (Scotland)
LOMOND PROPERTIES LIMITED
Unaudited accounts
for the year ended 31 October 2024
LOMOND PROPERTIES LIMITED
Unaudited accounts
Contents
LOMOND PROPERTIES LIMITED
Company Information
for the year ended 31 October 2024
Secretary
Catriona Morag Mclean Graham
Company Number
SC077457 (Scotland)
Registered Office
2 VICTORIA PLACE
RUTHERGLEN
GLASGOW
G73 1JU
SCOTLAND
Accountants
brand jamieson co
2 Victoria Place
Rutherglen
Glasgow
G73 2JP
LOMOND PROPERTIES LIMITED
Statement of financial position
as at 31 October 2024
Tangible assets
595,197
99,322
Investments
405,623
275,000
Cash at bank and in hand
70,892
93,314
Creditors: amounts falling due within one year
(41,978)
(87,657)
Net current assets
28,914
5,657
Total assets less current liabilities
1,029,734
379,979
Provisions for liabilities
Net assets
880,943
379,979
Called up share capital
100
100
Revaluation reserve
495,940
-
Profit and loss account
384,903
379,879
Shareholders' funds
880,943
379,979
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 1 July 2025 and were signed on its behalf by
Gail Barbara Rae
Director
Company Registration No. SC077457
LOMOND PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 October 2024
LOMOND PROPERTIES LIMITED is a private company, limited by shares, registered in Scotland, registration number SC077457. The registered office is 2 VICTORIA PLACE, RUTHERGLEN, GLASGOW, G73 1JU, SCOTLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on reducing balance
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At 1 November 2023
153,513
1,500
683
155,696
Revaluations
595,000
-
-
595,000
Transfer to investment property
(153,513)
-
-
(153,513)
At 31 October 2024
595,000
1,500
683
597,183
At 1 November 2023
54,453
1,500
421
56,374
Charge for the year
(54,453)
-
65
(54,388)
At 31 October 2024
-
1,500
486
1,986
At 31 October 2024
595,000
-
197
595,197
At 31 October 2023
99,060
-
262
99,322
The properties were revalued by Shepherd Commercial on 22nd May 2025.
LOMOND PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 October 2024
5
Investments
Other investments
Valuation at 1 November 2023
275,000
Fair value adjustments
130,623
Valuation at 31 October 2024
405,623
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
10,494
16,514
Loans from directors
15,722
49,534
7
Transactions with related parties
During the year , dividends of £20,000 ( 2023 £30,000 ) were paid to the director.
The controlling party is WGS Robertson.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).