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LLS-UK LTD

Registered Number
SC749713
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2024

LLS-UK LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

Murray Ritchie
Natalia Streeter

Registered Address

52 Hallfield Crescent
Aberdeen
AB16 6SD

Registered Number

SC749713 (Scotland)
LLS-UK LTD
Balance Sheet as at
30 November 2024

Notes

2024

2023

£

£

£

£

ASSETS
Fixed assets
Tangible assets3162,482162,482
162,482162,482
Current assets
Debtors426714
Cash at bank and in hand4,6412,869
4,9082,883
4,9082,883
167,390165,365
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital22
Revaluation reserve60,00060,000
Profit and loss account(1,114)(2,539)
858,88857,463
Liabilities
Creditors amounts falling due within one year527,38422,872
Creditors amounts falling due after one year681,11885,030
167,390165,365
The financial statements were approved and authorised for issue by the Board of Directors on 26 August 2025, and are signed on its behalf by:
Natalia Streeter
Director
Registered Company No. SC749713
LLS-UK LTD
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is recognised when economic benefits are probable and reliably measurable. Rental income from residential properties is recognised straight-line over the lease term on an accruals basis, deferring advance payments and accruing amounts due. Rent-free periods and incentives reduce rental income straight-line over the lease term. Service charge income is recognised as services are rendered, and ancillary income when the right to payment is established.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 December 23162,482162,482
At 30 November 24162,482162,482
Net book value
At 30 November 24162,482162,482
At 30 November 23162,482162,482
4.Debtors: amounts due within one year

2024

2023

££
Other debtors55-
Prepayments and accrued income212-
Total267-
This represents amounts paid in advance for goods or services that relate to a future accounting period. These prepayments are recognised as an asset until the benefit of the goods or services is received, at which point they are expensed to the Statement of Comprehensive Income. Common prepayments include insurance, rent, or other operating costs paid ahead of their due date.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-41
Amounts owed to related parties27,38422,831
Total27,38422,872
This represents obligations of the company that are expected to be settled within twelve months of the reporting date. This typically includes: Trade Payables: Amounts due to suppliers for goods and services received, such as property maintenance, repairs, utilities, and administrative expenses. Amounts owed to Directors: Short-term loans or advances from the directors, or expenses paid by the director on behalf of the company, that are expected to be repaid within one year. The carrying amounts of creditors are considered to approximate their fair value due to their short-term nature.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts68,86768,850
Amounts owed to related parties12,25116,180
Total81,11885,030
This represents the long-term obligations of the company that are expected to be settled more than twelve months after the reporting date. This balance comprises mortgage loans secured against the company's investment properties, which are typically repayable over several years, with terms and interest rates as detailed in the respective loan agreements. It also includes an intercompany loan, representing funds advanced from a related group company, which is repayable outside of the next twelve months.
7.Share capital
Allotted, Called up and fully paid: £2 (2024) (2023: £2)
8.Revaluation reserve
The Revaluation Reserve in equity arises from the revaluation of the company's investment properties to their fair value. In accordance with FRS 102, any gains recognised on the revaluation of property are credited directly to this reserve, net of any related deferred tax. This reserve represents the unrealised increase in the value of these assets and is not distributable as dividends. It may be transferred to retained earnings when the revalued asset is derecognised or impaired.

£
Reserve at 01 December 2360,000
At 30 November 2460,000
9.Related party transactions
he company has transactions with related parties as defined by FRS 102. Directors' Loans: At the reporting date, amounts totalling £27,383 were due from the company to its directors, Murray Ritchie and Natalia Streeter. These balances represent short-term advances and reimbursements of expenses paid by the directors on behalf of the company. These loans are unsecured, interest-free, and repayable on demand. Intercompany Loan: The company also has an outstanding loan balance of £12,250 due to JOR Property Ltd, a company controlled by one of the directors, Murray Ritchie. This loan facilitates the company's long-term financing and is subject to agreed repayment terms and interest rates as per the loan agreement. All related party transactions are conducted at arm's length.
10.Controlling party
The company's controlling parties are the directors, Natalia Streeter and Murray James Ritchie, by virtue of their shareholdings.