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Company No: 09364750 (England and Wales)

LOCHAILORT ST IVES LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

LOCHAILORT ST IVES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

LOCHAILORT ST IVES LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
LOCHAILORT ST IVES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
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
LOCHAILORT ST IVES LIMITED

BALANCE SHEET

As at 31 October 2024
LOCHAILORT ST IVES LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Current assets
Stocks 3 1,142,920 1,097,327
Debtors 4 37,439 33,091
Cash at bank and in hand 981 97
1,181,340 1,130,515
Creditors: amounts falling due within one year 5 ( 1,241,481) ( 1,173,127)
Net current liabilities (60,141) (42,612)
Total assets less current liabilities (60,141) (42,612)
Net liabilities ( 60,141) ( 42,612)
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account ( 60,143 ) ( 42,614 )
Total shareholders' deficit ( 60,141) ( 42,612)

For the financial 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.

Directors' responsibilities:

The financial statements of Lochailort St Ives Limited (registered number: 09364750) were approved and authorised for issue by the Board of Directors on 25 July 2025. They were signed on its behalf by:

H P Haig
Director
LOCHAILORT ST IVES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
LOCHAILORT ST IVES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Stocks

2024 2023
£ £
Stocks 1,142,920 1,097,327

4. Debtors

2024 2023
£ £
Corporation tax 32,500 32,500
Other debtors 4,939 591
37,439 33,091

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 31,270 2,402
Other creditors 1,210,211 1,170,725
1,241,481 1,173,127

6. Called-up share capital and reserves

2024 2023
£ £
Allotted, called-up and fully-paid
2 ordinary shares of £ 2.00 each (2023: nil shares) 2 0
Presented as follows:
Called-up share capital presented as equity 2 2

7. Related party transactions

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).

8. Reserves

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.