Company registration number SC626616 (Scotland)
Loch Lomond Cottages Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 30 April 2025
PAGES FOR FILING WITH REGISTRAR
Loch Lomond Cottages Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
Loch Lomond Cottages Limited
Statement of financial position
as at 30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
770
Investment property
5
530,751
530,751
530,751
531,521
Current assets
Debtors
6
35,932
35,932
Cash at bank and in hand
7,308
3,423
43,240
39,355
Creditors: amounts falling due within one year
7
(576,838)
(575,730)
Net current liabilities
(533,598)
(536,375)
Total assets less current liabilities
(2,847)
(4,854)
Creditors: amounts falling due after more than one year
8
(2,222)
(2,222)
Net liabilities
(5,069)
(7,076)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(5,071)
(7,078)
Total equity
(5,069)
(7,076)
Loch Lomond Cottages Limited
Statement of financial position (continued)
as at 30 April 2025
- 2 -

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 3 February 2026
Mr J P Connolly
Director
Company registration number SC626616 (Scotland)
Loch Lomond Cottages Limited
Notes to the financial statements
for the year ended 30 April 2025
- 3 -
1
Accounting policies
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
Enter depreciation rate via StatDB - cd76

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Loch Lomond Cottages Limited
Notes to the financial statements (continued)
for the year ended 30 April 2025
1
Accounting policies
(continued)
- 4 -
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

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 in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

As lessor
Loch Lomond Cottages Limited
Notes to the financial statements (continued)
for the year ended 30 April 2025
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2024 and 30 April 2025
3,653
Depreciation and impairment
At 1 May 2024
2,883
Depreciation charged in the year
770
At 30 April 2025
3,653
Carrying amount
At 30 April 2025
-
0
At 30 April 2024
770
5
Investment property
2025
£
Fair value
At 1 May 2024 and 30 April 2025
530,751

Investment property comprises of a holiday cottage. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Loch Lomond Cottages Limited
Notes to the financial statements (continued)
for the year ended 30 April 2025
- 6 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
35,932
35,932
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
392,589
392,589
Other creditors
184,249
183,141
576,838
575,730
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
2,222
2,222
9
Company information

Loch Lomond Cottages Limited is a private company limited by shares incorporated in Scotland. The registered office is Coismona Cottage Drumsack, Chryston, Glasgow, Scotland, G69 9JG.

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