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Registered number: SC746422
L C Agri (Scotland) Limited
ACCOUNTS
FOR THE YEAR ENDED 31/12/2024
Prepared By:
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN
L C Agri (Scotland) Limited
ACCOUNTS
FOR THE YEAR ENDED 31/12/2024
DIRECTORS
M M Armstrong
S G Sloan
D Henderson
REGISTERED OFFICE
Bruntshields Farm
Lochmaben
DG11 1SQ
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number SC746422
ACCOUNTANTS
NB Lancaster & Co
Chartered Accountants
6 Brunswick Street
Carlisle
Cumbria
CA1 1PN
L C Agri (Scotland) Limited
ACCOUNTS
FOR THEYEARENDED31/12/2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
L C Agri (Scotland) Limited
BALANCE SHEET AT 31/12/2024
20242023
Notes££
FIXED ASSETS
Intangible assets3120,000135,000
Tangible assets4247,855108,833
367,855243,833
CURRENT ASSETS
Stock815,895606,489
Debtors61,030,8111,005,396
Cash at bank and in hand217,87199,576
2,064,5771,711,461
CREDITORS: Amounts falling due within one year71,800,5851,534,494
NET CURRENT ASSETS263,992176,967
TOTAL ASSETS LESS CURRENT LIABILITIES631,847420,800
CREDITORS: Amounts falling due after more than one year871,245-
PROVISIONS FOR LIABILITIES AND CHARGES1055,61027,208
NET ASSETS504,992393,592
CAPITAL AND RESERVES
Called up share capital113030
Profit and loss account504,962393,562
SHAREHOLDERS' FUNDS504,992393,592
For the year ending 31/12/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 27/08/2025 and signed on their behalf by
.............................
D Henderson
Director
L C Agri (Scotland) Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/12/2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 20%
Equipmentstraight line 33%
Motor Vehiclesreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.
1e. Goodwill
Goodwill arising upon the acquisition of a business is capitalised and amortised over its estimated economic life of 10 years.
1f. Leases
Payments made under operating leases are charged to the profit and loss account on a straight line basis over the lease term.
L C Agri (Scotland) Limited
2. EMPLOYEES
20242023
No.No.
Average number of employees1817
3. INTANGIBLE FIXED ASSETS
Purchased
GoodwillTotal
££
Cost
At 01/01/2024150,000150,000
At 31/12/2024150,000150,000
Depreciation
At 01/01/202415,00015,000
For the year15,00015,000
At 31/12/202430,00030,000
Net Book Amounts
At 31/12/2024120,000120,000
At 31/12/2023135,000135,000
4. TANGIBLE FIXED ASSETS
Plant and
MachineryEquipmentMotor VehiclesTotal
££££
Cost
At 01/01/2024112,2792,48223,129137,890
Additions-7,789220,969228,758
At 31/12/2024112,27910,271244,098366,648
Depreciation
At 01/01/202422,4568195,78229,057
For the year17,9653,11968,65289,736
At 31/12/202440,4213,93874,434118,793
Net Book Amounts
At 31/12/202471,8586,333169,664247,855
At 31/12/202389,8231,66317,347108,833
L C Agri (Scotland) Limited
5. STOCK 20242023
££
Stock comprises:
Stock815,895606,489
815,895606,489
6. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors1,023,095993,784
Other debtors-6,615
Prepayments7,7164,997
1,030,8111,005,396
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax30,123101,816
VAT192,763197,669
Other tax and social security creditors23,29618,598
Directors current accounts244,970-
Hire purchase49,762-
Trade creditors712,920743,860
Other creditors509,602452,655
Accruals37,14919,896
1,800,5851,534,494
8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Hire purchase >1yr71,245-
71,245-
L C Agri (Scotland) Limited
9. SECURED CREDITORS
20242023
££
Amount of other creditors which are secured121,007-
Hire purchase creditors are secured on the assets to which the liabilities relate.
10. PROVISIONS FOR LIABILITIES 20242023
££
Deferred taxation55,61027,208
55,61027,208
11. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
30 Ordinary shares of £1 each3030
3030
New shares issued during period:
0 Ordinary shares of £1 each030
-30
12. RELATED PARTY TRANSACTIONS
Total dividends of £45,000 were paid to the directors during the year (2023 £Nil).
At the balance sheet date total loans of £244,970 were owed to the directors.
13. ADDITIONAL INFORMATION
The company is a private company, limited by shares and registered in Scotland.
The company's registered number is SC746422.
The company's registered office is Bruntshields Farm, Lochmaben, DG11 1SQ.
L C Agri (Scotland) Limited
14. GUARANTEES AND COMMITMENTS
At the balance sheet date the company has outstanding commitments under operating leases of £76,000.