Company No:
Contents
| Directors | J F Haig |
| H P Haig | |
| S C Leslie |
| Registered office | Eagle House 108-110 Jermyn Street |
| London | |
| SW1Y 6EE | |
| United Kingdom |
| Company number | 09364750 (England and Wales) |
| Accountant | Kreston Reeves LLP |
| 2nd Floor | |
| 168 Shoreditch High Street | |
| London | |
| E1 6RA |
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Current assets | ||||
| Stocks | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| 1,181,340 | 1,130,515 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current liabilities | (60,141) | (42,612) | ||
| Total assets less current liabilities | (60,141) | (42,612) | ||
| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital | 6 |
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| Profit and loss account | (
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| Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of Lochailort St Ives Limited (registered number:
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H P Haig
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Lochailort St Ives Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Eagle House 108-110 Jermyn Street , London, SW1Y 6EE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| £ | £ | ||
| Stocks |
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| £ | £ | ||
| Corporation tax |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Other creditors |
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| Presented as follows: | |||
| Called-up share capital presented as equity | 2 | 2 |
During the year, Lochailort Investments Limited, a company under common control, met expenditure of £39,059 (2023: £6,374) and the company repaid amounts totalling £Nil (2023: £68,340). At the balance sheet date the company owed Lochailort Investments Limited £1,000,357 (2023: £961,296).
Profit and loss account
The profit and loss account comprises all current period retained profits and losses.
Share capital
This represents the nominal value of shares that have been issued by the company.