Ladysbridge Village Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC262049

LADYSBRIDGE VILLAGE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

LADYSBRIDGE VILLAGE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents	Page

Officers and professional advisers	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

LADYSBRIDGE VILLAGE LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mr A J Rennie
	Mr G D Wilson
	Mrs E Ramsay

Company secretary	Mrs E Ramsay

Registered office	Unit B
	Inverboyndie Industrial Estate
	Banff
	Aberdeenshire
	AB45 2JJ

Accountants	Ritsons
	Chartered Accountants
	26-30 Marine Place
	Buckie
	Moray
	AB56 1UT

LADYSBRIDGE VILLAGE LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LADYSBRIDGE VILLAGE LIMITED

YEAR ENDED 31 MARCH 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ladysbridge Village Limited for the year ended 31 March 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Ladysbridge Village Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Ladysbridge Village Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ladysbridge Village Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ladysbridge Village Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ladysbridge Village Limited. You consider that Ladysbridge Village Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Ladysbridge Village Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ritsons Chartered Accountants

26-30 Marine Place Buckie Moray AB56 1UT

2 December 2025

LADYSBRIDGE VILLAGE LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

FIXED ASSETS

Tangible assets	4	18,569	19,143

CURRENT ASSETS

Stocks		1,654,895	1,487,799
Debtors	5	733,440	938,035
Cash at bank and in hand		11,323	9,127
		------------	------------
		2,399,658	2,434,961

CREDITORS: amounts falling due within one year	6	1,212,282	1,509,305
		------------	------------
NET CURRENT ASSETS		1,187,376	925,656
		------------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES		1,205,945	944,799
		------------	---------
NET ASSETS		1,205,945	944,799
		------------	---------

CAPITAL AND RESERVES

Called up share capital	16,000	16,000
Profit and loss account	1,189,945	928,799
	------------	---------
SHAREHOLDERS FUNDS	1,205,945	944,799
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

LADYSBRIDGE VILLAGE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 2 December 2025 , and are signed on behalf of the board by:

Mr A J Rennie

Director

Company registration number: SC262049

LADYSBRIDGE VILLAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Unit B, Inverboyndie Industrial Estate, Banff, Aberdeenshire, AB45 2JJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

The turnover shown in the detailed income statement represents amounts invoiced during the year, exclusive of Value Added Tax. Revenue on private house sales is recognised when control has been transferred to the purchaser which will normally occur at handover/legal completion.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Heritable Property	-	2% straight line

Stocks

Property, including land held under development, acquired or being constructed for sale in the ordinary course of business is valued at the lower of cost and net realisable value. Cost comprises of the invoiced value of the goods purchased and includes attributable direct costs. Net realisable value is the estimated selling price in the ordinary course of the business less estimated costs of completion.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instuments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 April 2024 and 31 March 2025	28,684
	--------
Depreciation
At 1 April 2024	9,541
Charge for the year	574
	--------
At 31 March 2025	10,115
	--------
Carrying amount
At 31 March 2025	18,569
	--------
At 31 March 2024	19,143
	--------

5. Debtors

	2025	2024
	£	£
Trade debtors	6,527	211,541
Other debtors	726,913	726,494
	---------	---------
	733,440	938,035
	---------	---------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	439,395	673,537
Corporation tax	87,240	13,008
Other creditors	685,647	822,760
	------------	------------
	1,212,282	1,509,305
	------------	------------

7. Contingencies

The company has currently paid its liability to Scottish Ministers in respect of all units for which planning permission has been sought. This is however a contingent liability of £3,706 per unit indexed linked on any further units which may receive planning permission on ground purchased from the Grampian Health Board under an agreement with Scottish Ministers.

8. Related party transactions

Other loans comprise the following: During the year the following work was performed for the company by A.J Rennie Ltd:

	2025	2024
	£	£
AJ Rennie Ltd	697,948	958,214

Alastair Rennie is a Shareholder in A.J. Rennie Ltd. George Wilson is a partner in the partnership of G.D. Wilson and also a director of Ladysbridge Village Limited. The amounts due by the company to each of the above parties was as follows:

	2025	2024
	£	£
AJ Rennie Ltd	297,740	551,913

All transactions are carried out on normal commercial terms. At 31 March 2025, the company owed Alistair Rennie £234,771 by way of a director's loan account. Interest on this loan is charged at 10% per annumn. There is no set repayment terms.