REGISTERED NUMBER: SC022568 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

LORMOR LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J C Graham

Mrs C Graham

REGISTERED OFFICE:

Aucheneck Estate Farm Office

Killearn

Glasgow

G63 9QN

REGISTERED NUMBER:

SC022568 (Scotland)

ACCOUNTANTS:

SD Business Management

Suite 4.5 Turnberry House

175 West George Street

Glasgow

G2 2LB

FIXED ASSETS

Tangible assets

5

5,260,640

5,421,150

Investment property

6

11,266,873

11,266,873

16,527,513

16,688,023

CURRENT ASSETS

Stocks

432,700

392,300

Debtors

7

620,367

728,815

Cash at bank

2,909,006

2,637,035

3,962,073

3,758,150

CREDITORS

Amounts falling due within one year

518,052

564,652

NET CURRENT ASSETS

3,444,021

3,193,498

TOTAL ASSETS LESS CURRENT LIABILITIES

19,971,534

19,881,521

PROVISIONS FOR LIABILITIES

30,483

46,726

NET ASSETS

19,941,051

19,834,795

CAPITAL AND RESERVES

Called up share capital

247,500

247,500

Retained earnings

19,693,551

19,587,295

19,941,051

19,834,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

J C Graham - Director

Mrs C Graham - Director

1.	STATUTORY INFORMATION

Lormor Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	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.

In accordance with their responsibility as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

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

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Properties

The company's properties are held for long term investment and in accordance with FRS 102 Section 16.

i) Investment properties are revalued annually and the aggregate surplus or deficit is transferred to the profit & loss as a non-distributable reserve; and

ii) No depreciation or amortisation is provided in respect of investment properties.

Included in the Retained Earnings is a non-distributable reserve of £4,106,097 (2022: £4,106,097).

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

9,848,007

Additions

88,341

At 31 December 2024

9,936,348

DEPRECIATION

At 1 January 2024

4,426,857

Charge for year

248,851

At 31 December 2024

4,675,708

NET BOOK VALUE

At 31 December 2024

5,260,640

At 31 December 2023

5,421,150

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

11,266,873

NET BOOK VALUE

At 31 December 2024

11,266,873

At 31 December 2023

11,266,873

Fair value at 31 December 2024 is represented by:

£

Valuation in 2020

(702,979

)

Cost

11,969,852

11,266,873

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

31.12.24

31.12.23

£

£

Cost

11,969,852

11,969,852

Investment property was valued on an open market basis on 31 December 2024 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

540,000

540,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

J C Graham

Balance outstanding at start of year

2,164

-

Amounts advanced

73,304

2,164

Amounts repaid

(68,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

7,468

2,164