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Company No: 05605197 (England and Wales)

LOCHAILORT INVESTMENTS LIMITED

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

LOCHAILORT INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

LOCHAILORT INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
LOCHAILORT INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
Directors H Haig
J Haig
S Leslie
T Leslie
Secretary T Leslie
Registered office Eagle House
108 - 110 Jermyn Street
London
SW1Y 6EE
United Kingdom
Company number 05605197 (England and Wales)
Accountant Kreston Reeves LLP
2nd Floor
168 Shoreditch High Street
London
E1 6RA
LOCHAILORT INVESTMENTS LIMITED

BALANCE SHEET

As at 31 October 2024
LOCHAILORT INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 3,561 5,291
3,561 5,291
Current assets
Stocks 954,401 873,741
Debtors 4 1,268,849 1,237,501
Cash at bank and in hand 49,827 8,734
2,273,077 2,119,976
Creditors: amounts falling due within one year 5 ( 2,551,172) ( 2,127,180)
Net current liabilities (278,095) (7,204)
Total assets less current liabilities (274,534) (1,913)
Net liabilities ( 274,534) ( 1,913)
Capital and reserves
Called-up share capital 6 104 100
Profit and loss account ( 274,638 ) ( 2,013 )
Total shareholders' deficit ( 274,534) ( 1,913)

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 Investments Limited (registered number: 05605197) were approved and authorised for issue by the Board of Directors on 24 July 2025. They were signed on its behalf by:

H Haig
Director
LOCHAILORT INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
LOCHAILORT INVESTMENTS 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 Investments 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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

The company has elected to apply the provisions of section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 November 2023 48,790 2,745 10,775 62,310
At 31 October 2024 48,790 2,745 10,775 62,310
Accumulated depreciation
At 01 November 2023 46,815 2,745 7,459 57,019
Charge for the financial year 494 0 1,236 1,730
At 31 October 2024 47,309 2,745 8,695 58,749
Net book value
At 31 October 2024 1,481 0 2,080 3,561
At 31 October 2023 1,975 0 3,316 5,291

4. Debtors

2024 2023
£ £
Other debtors 1,268,849 1,237,501

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,024 165,666
Other creditors 2,541,148 1,961,514
2,551,172 2,127,180

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
104 ordinary shares of £ 1.00 each (2023: 100 shares of £ 1.00 each) 104 100

During the year, the company issued 4 Ordinary shares of £1 each at par value, resulting in an increase in share capital of £4.

7. Related party transactions

A director is owed £Nil (2023: £Nil) by the company. Interest has previously been charged at 7% on the loan. The accrued interest balance at the year end was £1,256,296 (2023: £1,256,296).

During the year a director loaned the company £Nil (2023: £52,000). As at the balance sheet date, the company owed £49,753 (2023: £52,000). This amount is included with 'Other creditors'. It is non-interest bearing and repayable on demand.

During the year another director loaned the company £383,000 (2023: £Nil). As at the balance sheet date, the company owed £383,000 (2023: £Nil). This amount is included with 'Other creditors'. It is non-interest bearing and repayable on demand.

During the year, Lochailort Limited, a company of which H Haig is also a director, loaned the company £257,500 (2023: £290,000). As at the balance sheet date, the company owed £727,500 (2023: £470,000). This amount is included with 'Other creditors'. It is non-interest bearing and repayable on demand.

During the year, the company met expenses on behalf of Lochailort St Ives Limited, a company under common control, totalling £39,060 (2023: £9,974). As at the balance sheet date, the company was owed £1,207,611 (2023: £1,168,551) by Lochailort St Ives Limited. This amount is included with 'Other debtors'. It is non-interest bearing and repayable on demand.

During the year, Lochailort Chapmanslade Limited, a company under common control, made repayments totalling £1,815 (2023: £Nil) and received funds of £Nil (2023: £Nil). As at the balance sheet date, the company owed £123,672 (2023: £125,488) by Lochailort Chapmanslade Limited. This amount is included with 'Other creditors'. It is non-interest bearing and repayable on demand.

As at the balance sheet date, the company was owed £5,103 (2023: £4,493) by Lochailort Thames Quarter Limited, a company under common control. This amount is included with 'Other debtors'. It is non-interest bearing and repayable on demand.

During the year, Lochailort Kentford Limited, a company under common control, met expenses on behalf of the company totalling £Nil (2023: £202,868) and made repayments of £54,159 (2023: £153,459) As at the balance sheet date, the company was owed £4,750 (2023: owed £49,409) from Lochailort Kentford Limited. This amount is included with 'Other creditors'. It is non-interest bearing and repayable on demand.