Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true22023-12-01falseProperty rental2truetruefalse SC437853 2023-12-01 2024-11-30 SC437853 2022-12-01 2023-11-30 SC437853 2024-11-30 SC437853 2023-11-30 SC437853 c:Director2 2023-12-01 2024-11-30 SC437853 d:FreeholdInvestmentProperty 2023-12-01 2024-11-30 SC437853 d:FreeholdInvestmentProperty 2024-11-30 SC437853 d:FreeholdInvestmentProperty 2023-11-30 SC437853 d:CurrentFinancialInstruments 2024-11-30 SC437853 d:CurrentFinancialInstruments 2023-11-30 SC437853 d:Non-currentFinancialInstruments 2024-11-30 SC437853 d:Non-currentFinancialInstruments 2023-11-30 SC437853 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 SC437853 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 SC437853 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 SC437853 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 SC437853 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-11-30 SC437853 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 SC437853 d:ShareCapital 2024-11-30 SC437853 d:ShareCapital 2023-11-30 SC437853 d:RevaluationReserve 2024-11-30 SC437853 d:RevaluationReserve 2023-11-30 SC437853 d:RetainedEarningsAccumulatedLosses 2024-11-30 SC437853 d:RetainedEarningsAccumulatedLosses 2023-11-30 SC437853 c:OrdinaryShareClass1 2023-12-01 2024-11-30 SC437853 c:OrdinaryShareClass1 2024-11-30 SC437853 c:OrdinaryShareClass1 2023-11-30 SC437853 c:FRS102 2023-12-01 2024-11-30 SC437853 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 SC437853 c:FullAccounts 2023-12-01 2024-11-30 SC437853 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 SC437853 d:HirePurchaseContracts d:WithinOneYear 2024-11-30 SC437853 d:HirePurchaseContracts d:WithinOneYear 2023-11-30 SC437853 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-11-30 SC437853 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-11-30 SC437853 6 2023-12-01 2024-11-30 SC437853 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: SC437853














LOXLEY ABERDEEN LIMITED





UNAUDITED
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2024

 
LOXLEY ABERDEEN LIMITED
REGISTERED NUMBER:SC437853

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
3,333,017
2,566,637

Investment property
 5 
8,450,000
8,530,058

  
11,783,017
11,096,695

Current assets
  

Debtors: amounts falling due within one year
 6 
1,375,615
1,444,766

Cash at bank and in hand
 7 
3,605
247

  
1,379,220
1,445,013

Creditors: amounts falling due within one year
 8 
(6,465,623)
(5,670,061)

Net current liabilities
  
 
 
(5,086,403)
 
 
(4,225,048)

Total assets less current liabilities
  
6,696,614
6,871,647

Creditors: amounts falling due after more than one year
  
(1,460,484)
(2,165,482)

Provisions for liabilities
  

Deferred tax
  
(144,888)
(143,484)

  
 
 
(144,888)
 
 
(143,484)

Net assets
  
5,091,242
4,562,681


Capital and reserves
  

Called up share capital 
  
100
100

Revaluation reserve
  
-
(345,362)

Profit and loss account
  
5,091,142
4,907,943

  
5,091,242
4,562,681


Page 1

 
LOXLEY ABERDEEN LIMITED
REGISTERED NUMBER:SC437853

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M D Loggie
Director

Date: 29 August 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LOXLEY ABERDEEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Loxley Aberdeen Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 100 Union Street, Aberdeen, AB10 1QR, United Kingdom.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The company has net liabilities of £5,086,403, however this includes a loan due to a related company of £4,477,159 for which the related party has confirmed they do not intend to recall. In addition, creditors include long term bank and hire purchase funding where the current liability element will be repaid in instalments from cash flows generated.
As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.3

Revenue

Revenue is recognised at the fair value of the consideration received from the property rental provided in the normal course of business, and is shown net of VAT and other sales related taxes. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
LOXLEY ABERDEEN LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Other investments are measured at cost less accumulated impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
LOXLEY ABERDEEN LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Page 5

 
LOXLEY ABERDEEN LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Other investments

£





At 1 December 2023
2,566,637


Additions
766,380



At 30 November 2024
3,333,017





5.


Investment property


Freehold investment property

£



Valuation


At 1 December 2023
8,530,058


Revaluations
(80,058)



At 30 November 2024
8,450,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 November 2024 by the directors. The directors have considered similar transactions in the market to arrive at the fair value.







Page 6

 
LOXLEY ABERDEEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
23,746
-

Other debtors
1,342,336
1,439,415

Prepayments and accrued income
9,533
5,351

1,375,615
1,444,766



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
3,605
247

3,605
247



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans (Note 10)
502,725
569,320

Trade creditors
1,961
5,472

Amounts owed to related parties
4,477,159
4,001,479

Corporation tax
207,244
114,370

Other taxation and social security
177,046
224,567

Obligations under finance lease and hire purchase contracts (Note 11)
600,000
255,250

Other creditors
499,488
499,603

6,465,623
5,670,061



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans (Note 10)
153,917
685,415

Net obligations under finance leases and hire purchase contracts (Note 11)
147,667
282,667

Other creditors
1,158,900
1,197,400

1,460,484
2,165,482


Page 7

 
LOXLEY ABERDEEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
502,725
569,320


502,725
569,320

Amounts falling due 1-2 years

Bank loans
153,917
685,415


153,917
685,415



656,642
1,254,735


The bank loan of £656,642 (2023: £1,254,735) is secured over the property. The bank also have security in the form of a floating charge over the assets of the company.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
600,000
255,250

Between 1-5 years
147,667
282,667

747,667
537,917

The hire purchase liability of £747,667 (2023: £537,917) is secured over the assets to which the agreements relate. 


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary Shares shares of £1.00 each
100
100


Page 8

 
LOXLEY ABERDEEN LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

13.


Related party transactions


2024
2023
£
£

Amounts owed to directors
(1,158,900)
(1,197,400)
Amounts owed to other related parties
(4,477,159)
(2,900,079)
(5,636,059)
(4,097,479)

During the year, the company has repaid £42,000 of the loan balance due to directors and made a further advance of £3,500 has been issued. The balance outstanding at year end is as above. These loans do not bear interest.
The company has taken advantage of the exemption given by section 1AC.35 of Financial Reporting Standard 102 which allows exemption from disclosure of related party transactions with other group companies.


Page 9