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Registration number: 04573575

Lochindaal Ventures Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 30 April 2025

Lochindaal Ventures Limited

Contents

Balance Sheet | 1
Notes to the Unaudited Financial Statements | 2 to 7

Lochindaal Ventures Limited

(Registration number: 04573575)
Balance Sheet as at 30 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 5 | 50 | 50
Current assets |  |  |
Debtors | 6 | 70,100 | 70,100
Cash at bank and in hand |  | 47 | 21,987
|  | 70,147 | 92,087
Creditors: Amounts falling due within one year | 7 | (509,139) | (485,820)
Net current liabilities |  | (438,992) | (393,733)
Net liabilities |  | (438,942) | (393,683)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (439,042) | (393,783)
Shareholders' deficit |  | (438,942) | (393,683)

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 December 2025 and signed on its behalf by:

Mr M Stupples Director |  |

Lochindaal Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Milsted Langdon LLP
Winchester House
Deane Gate Avenue
Taunton
TA1 2UH

These financial statements were authorised for issue by the Board on 22 December 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006' (as applicable to companies subject to the small companies' regime). 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.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional and presentational currency of the company, and rounded to the nearest £.

Going concern

The company has suffered a loss this year and has a deficit in reserves. The directors have received confirmation from the shareholder that continued financial support will be available in order to allow the company to trade for the foreseeable future. For the reasons outlined above, the directors consider that the company will continue to trade for the foreseeable future and accordingly the accounts are prepared on a going concern basis.

Lochindaal Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In preparing these financial statements, the directors exercised judgement in assessing the recoverability of the loan to Bergamot Ventures Limited.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit and loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enatced by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Investments

Interests in jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Lochindaal Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets and liabilities are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial instrument is measured at the present value of the future receipts or payments discounted at a market rate of interest.

Lochindaal Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2024 - 2).

4 | Taxation

No corporation tax charge arises in these financial statements (2024: £Nil).
Deferred tax
Deferred tax assets totalling £44,383 (2024: £38,832) relating to short term timing differences and tax losses carried forward totalling £200,586 (2024: £155,327) at a rate of 25% (2024: 25%) have not been recognised because, in the opinion of the directors, there is insufficient evidence that these amounts will be recovered.
The potential deferred tax asset is recoverable against future taxable profits.

5 | Investments

| 2025 £ | 2024 £
Investments in joint ventures | 50 | 50

The directors believe that the carrying amounts of financial assets carried at amortised cost in the financial statements approximate to their fair values.
The company owns 50% of Bergamot Ventures Limited, a company incorporated in the United Kingdon and registered in England and Wales, with its registered office at C/O Milsted Langdon LLP, Winchester House, Deane Gate Avenue, Taunton, United Kingdom, TA1 2UH. Bergamot Ventures Limited's principal activity is investment in and lending to related parties.
During the year, Bergamot Ventures Limited has made a loss of £63,996 (2024: £16,382). At the balance sheet date, the company had net liabilities of £589,689 (2024: £525,693).

Joint ventures | £
Cost
At 1 May 2024 | 50
Carrying amount
At 30 April 2025 | 50
At 30 April 2024 | 50

Lochindaal Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6 | Debtors

| Note | 2025 £ | 2024 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest | 8 | 70,000 | 70,000
Other debtors |  | 100 | 100
|  | 70,100 | 70,100

7 | Creditors

Due within one year | Note | 2025 £ | 2024 £
Amounts due to related parties | 8 | 501,339 | 478,020
Accruals |  | 7,800 | 7,800
|  | 509,139 | 485,820

8 | Related party transactions

Summary of transactions with joint ventures

During the year the company continued to receive interest, and incur foreign exchange differences on loans made to a joint venture company.
Interest is charged on the loan at the Bank of England base rate and is compounded on 30 April each year. The loan is unsecured.
The balance at the year end is net of a provision of £312,301 (2024: £289,700).

Summary of transactions with other related parties

Other related parties is considered to be shareholder of the company.
During the year ended 30 April 2024 the loan from the parent was reassigned to a bare trust following the change in ownership of the company.
During the year the company continued to be charged interest on the loan.
Interest is charged on the loan at the Bank of England base rate and is compounded on 30 April each year. The loan is unsecured and repayable on demand.

Lochindaal Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Loans to related parties

2025 | Joint ventures £ | Total £
At start of period | 70,000 | 70,000
Interest transactions | 17,583 | 17,583
Foreign exchange differences | 5,019 | 5,019
Expenses recognised as bad debt | (22,602) | (22,602)
At end of period | 70,000 | 70,000

2024 | Joint ventures £ | Total £
At start of period | 70,000 | 70,000
Interest transactions | 18,066 | 18,066
Foreign exchange differences | (15,500) | (15,500)
Reversal of bad debt provision | (2,566) | (2,566)
At end of period | 70,000 | 70,000

Loans from related parties

2025 | Other related parties £ | Total £
At start of period | 478,020 | 478,020
Interest transactions | 23,319 | 23,319
At end of period | 501,339 | 501,339

2024 | Parent £ | Other related parties £ | Total £
At start of period | 2,175,721 | - | 2,175,721
Advanced | (458,320) | 458,320 | -
Repaid | (1,724,453) | - | (1,724,453)
Interest transactions | 7,052 | 19,700 | 26,752
At end of period | - | 478,020 | 478,020

9 | Parent and ultimate parent undertaking

Historically the company was a wholly owned subsidiary of Warwick Street (KSI) LLP, an English Limited Liability Partnership, which was also the ultimate controlling party. During the year ended 30 April 2024, the shares held by Warwick Street (KSI) LLP were transferred to a bare trust with the LLP members as beneficiaries.