ACCOUNTS - Final Accounts

Creditors: Amounts falling due within one year

As restated

Company Registration Number: SC304220

LYNNET LEISURE (ROGANO) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

LYNNET LEISURE (ROGANO) LIMITED

REGISTERED NUMBER: SC304220

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		As restated
	2024	2023
Note	£	£


Current assets
Debtors: amounts falling due within one year	4	1,726,239		1,716,911
Cash at bank and in hand		13,065		295,183
		1,739,304		2,012,094
Creditors: amounts falling due within one year	5	(1,421,274)		(1,586,384)
Net current assets			318,030		425,710
Total assets less current liabilities			318,030		425,710

Net assets			318,030		425,710

Capital and reserves
Called up share capital	6	1	1
Profit and loss account		318,029	425,709
		318,030	425,710

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006.

The 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 income and retained earnings 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:

Lynn Mortimer

Director

Date: 26 September 2025

The notes on pages 2 to 4 form part of these financial statements.

Page 1

LYNNET LEISURE (ROGANO) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Lynnet Leisure (Rogano) Limited is a private company, limited by shares, registered in Scotland. The company's registration number is SC304220 and the registered office address is 11 Royal Exchange Square, Glasgow, G1 3AJ.
The principal activity of the Company during the period covered by the financial statements was that of a restaurant operator.
These financial statements have been presented in pounds sterling, rounded to the nearest pound, as this is the currency of the primary economic environment in which the entity operates.

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

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.

2.3

Taxation

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 reporting 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 reporting 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 reporting date.

Page 2

LYNNET LEISURE (ROGANO) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

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.

2.5

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.

2.6

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.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 1).

Debtors

					2024	2023
					£	£


Amounts owed by group undertakings	1,721,114	1,696,292
Other debtors	1,044	926
Prepayments and accrued income	4,081	19,693
	1,726,239	1,716,911

Trade creditors	424	948
Amounts owed to group undertakings	1,294,148	1,513,186
Other creditors	80,022	20,064
Accruals and deferred income	46,680	52,186
	1,421,274	1,586,384

Page 3

LYNNET LEISURE (ROGANO) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1 (2023 - 1) Ordinary share of £1.00	1	1

7.	Prior period adjustment

The financial statements for the year ended 31 December 2024 include a prior year adjustment.
The adjustment relates to previously omitted write off's of intercompany loan balances. The comparative
figures in these financial statements have therefore been adjusted to reflect a reduction in creditors of
£56,540 and a comparative increase to the brought forward profit and loss account reserves balance.

8.	Related party transactions
	The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	Controlling party

The Company's parent undertaking at the balance sheet date was Forthwell Limited. The Company's ultimate parent undertaking at the balance sheet date was Ediston (RES) Limited, a company registered in Scotland (SC633869). Their registered address is 1 St. Andrew Square, Edinburgh, Scotland, EH2 2BD.
The Company's results are included within the consolidated accounts of Ediston (RES) Limited and these can be found on www.companieshouse.gov.uk.
The ultimate controlling party at the date the accounts were issued was Daniel O'Neill.

Page 4