REGISTERED NUMBER: SC423341

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LOCHNAGAR INVESTMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Ettershank

REGISTERED OFFICE:

32 Abbot Street

Arbroath

DD11 1HH

REGISTERED NUMBER:

SC423341

ACCOUNTANTS:

Haines Watts

Business Advisors and Accountants

Cluny Court

John Smith Business Park

Kirkcaldy

Fife

KY2 6QJ

FIXED ASSETS

Tangible assets

4

2,027

1,851

Investment property

5

794,000

725,140

796,027

726,991

CURRENT ASSETS

Stocks

330,146

315,028

Debtors

6

206,493

115,683

Cash at bank

29,963

14,490

566,602

445,201

CREDITORS

Amounts falling due within one year

7

58,044

51,358

NET CURRENT ASSETS

508,558

393,843

TOTAL ASSETS LESS CURRENT LIABILITIES

1,304,585

1,120,834

CREDITORS

Amounts falling due after more than one year

8

(574,708

)

(413,876

)

PROVISIONS FOR LIABILITIES

10

(129,161

)

(110,426

)

NET ASSETS

600,716

596,532

CAPITAL AND RESERVES

Called up share capital

100

100

Non distributable reserve

476,965

439,850

Retained earnings

123,651

156,582

600,716

596,532

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2025 and were signed by:

C Ettershank - Director

1.	STATUTORY INFORMATION

Lochnagar Investments Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration receivable for property rental, excluding value added tax.

Revenue from the sale of land and properties is recognised when the legal completion of the transaction occurs. Revenue from construction contracts is recognised over time, as the performance obligations under the contract are achieved.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% per annum on cost

Fixtures and fittings

-

20% per annum on cost

IMPAIRMENT OF ASSETS

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

STOCKS

Work in progress is valued at the lower of cost and net realisable value. Costs include all direct expenditure which includes capitalised borrowing costs and attributable overheads. Net realisable value is based on estimated selling price less any further costs expected to be incurred to completion and disposal.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 April 2024

9,999

1,313

11,312

Additions

1,575

-

1,575

At 31 March 2025

11,574

1,313

12,887

DEPRECIATION

At 1 April 2024

8,245

1,216

9,461

Charge for year

1,366

33

1,399

At 31 March 2025

9,611

1,249

10,860

NET BOOK VALUE

At 31 March 2025

1,963

64

2,027

At 31 March 2024

1,754

97

1,851

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

725,140

Additions

13,010

Revaluations

55,850

At 31 March 2025

794,000

NET BOOK VALUE

At 31 March 2025

794,000

At 31 March 2024

725,140

Fair value at 31 March 2025 is represented by:

£

Valuation in 2019

178,335

Valuation in 2022

261,515

Valuation in 2025

55,850

Cost

298,300

794,000

If had not been revalued would have been included at the following historical cost:

2025

2024

£

£

Cost

298,300

285,290

Investment properties comprise of four residential properties and one commercial property situated in Arbroath. The fair value of the investment property has been arrived at on the basis of a valuation by the director. The value has been made on an open market basis by reference to market evidence of transaction

prices for similar properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,875

1,330

Other debtors

204,618

114,353

206,493

115,683

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

33,116

24,064

Trade creditors

9,094

6,686

Taxation and social security

-

5,488

Other creditors

15,834

15,120

58,044

51,358

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

474,708

313,876

Other creditors

100,000

100,000

574,708

413,876

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after more than five years and repayable by instalments

346,384

184,301

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Secured Debts

479,370

337,940

Aldermore Bank PLC and The Royal Bank of Scotland PLC both hold charges which cover all of the assets owned by the company.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

129,161

110,426

Deferred

tax

£

Balance at 1 April 2024

110,426

Provided during year

18,735

Balance at 31 March 2025

129,161

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

C Ettershank

Balance outstanding at start of year

20,316

41,120

Amounts advanced

27,916

42,648

Amounts repaid

(45,721

)

(63,452

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,511

20,316

Interest of 2.25% has been charged where the loan has exceeded £10,000 and there are no fixed terms of repayment. This loan was repaid in full after the year end on 7th April 2025.

12.	RELATED PARTY DISCLOSURES

Included within 'Other debtors' is an amount of £202,091 (2024 - £93,607) due from related companies which are under common control of the director. The loan is interest free and has no fixed term of repayment.