Company Registration No. SC097682 (Scotland)
Loudounhill Contracts Limited
Unaudited Accounts
for the year ended 31 March 2025
Loudounhill Contracts Limited
Unaudited Accounts
Contents
Loudounhill Contracts Limited
Company Information
for the year ended 31 March 2025
Directors
Mr G Craig
Mr A Craig
Company Number
SC097682 (Scotland)
Registered Office
142 Main Street
NEWMILNS
Ayrshire
KA16 9DJ
Scotland
Accountants
Hugh Ferguson & Co. Ltd.
22 West Main Street
DARVEL
Ayrshire
KA17 0AQ
Loudounhill Contracts Limited
Statement of financial position
as at 31 March 2025
Tangible assets
1,038,722
898,380
Investments
78,811
660,528
Inventories
355,147
759,625
Cash at bank and in hand
3,685,332
2,655,955
Creditors: amounts falling due within one year
(1,099,057)
(840,087)
Net current assets
4,129,469
3,418,659
Total assets less current liabilities
5,247,002
4,977,567
Provisions for liabilities
Deferred tax
(256,369)
(240,811)
Net assets
4,990,633
4,736,756
Called up share capital
8,774
8,774
Profit and loss account
4,981,859
4,727,982
Shareholders' funds
4,990,633
4,736,756
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. 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 December 2025 and were signed on its behalf by
Mr G Craig
Director
Company Registration No. SC097682
Loudounhill Contracts Limited
Notes to the Accounts
for the year ended 31 March 2025
Loudounhill Contracts Limited is a private company, limited by shares, registered in Scotland, registration number SC097682. The registered office is 142 Main Street, NEWMILNS, Ayrshire, KA16 9DJ, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
not provided
Plant & machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
Computer equipment
25% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Loudounhill Contracts Limited
Notes to the Accounts
for the year ended 31 March 2025
Investments in shares are included at fair value.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2024
17,410
2,489,223
678,915
22,925
3,208,473
Additions
-
286,800
212,801
-
499,601
Disposals
-
(252,650)
(163,218)
-
(415,868)
At 31 March 2025
17,410
2,523,373
728,498
22,925
3,292,206
At 1 April 2024
-
1,828,944
464,916
16,233
2,310,093
Charge for the year
-
180,960
97,483
1,673
280,116
On disposals
-
(210,374)
(126,351)
-
(336,725)
At 31 March 2025
-
1,799,530
436,048
17,906
2,253,484
At 31 March 2025
17,410
723,843
292,450
5,019
1,038,722
At 31 March 2024
17,410
660,279
213,999
6,692
898,380
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Investments
Other investments
Valuation at 1 April 2024
660,528
Fair value adjustments
3,177
Valuation at 31 March 2025
78,811
Fixed asset investments were valued on a surrender value basis on 31st March 2025 by Prudential. If fixed asset investments had not been re-valued they would have been included at their historical cost of £50,000 (2024 - £550,000).
Amounts falling due within one year
Trade debtors
937,526
431,756
Accrued income and prepayments
60,954
63,603
Other debtors
152,500
152,500
Loudounhill Contracts Limited
Notes to the Accounts
for the year ended 31 March 2025
7
Investments held as current assets
2025
2024
Listed investments
5,790
195,307
Listed investments are non-convertible ordinary shares listed on the Johannesburg Stock Exchange measured at fair value through profit and loss.
8
Creditors: amounts falling due within one year
2025
2024
Trade creditors
345,758
302,660
Taxes and social security
212,192
144,367
Other creditors
63,698
58,396
Loans from directors
316,370
251,434
Allotted, called up and fully paid:
8,774 Ordinary shares of £1 each
8,774
8,774
10
Operating lease commitments
2025
2024
At 31 March 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
3,760
3,307
Later than one year and not later than five years
5,612
8,540
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Transactions with related parties
At 1st April 2024 the company owed £205,773 to Mr. G. Craig by way of a loan. During the period under review the company repaid £2,814 to Mr. G. Craig. The balance of the loan owed by the company to Mr. G. Craig at 31st March 2025 was £202,959. Also at 1st April 2024 the company owed £45,661 to Mr. A. Craig by way of a loan. During the period under review Mr. A. Craig advanced a further £67,750 to the company. The balance of the loan owed by the company to Mr. A. Craig at 31st March 2025 was £113,411. These loans are unsecured, interest free and repayable on demand. Also during the period under review the company paid rent of £18,500 to Mr. G. Craig for the use of a yard and buildings owned by him at Avonside, Drumclog. Mr. G. Craig and Mr. A. Craig are both directors of the company. Mr. G. Craig has a beneficial interest in 53.20% of the company's called up share capital and Mr. A. Craig has a beneficial interest in 34.08% of the company's called up share capital.
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Average number of employees
During the year the average number of employees was 37 (2024: 37).