LOMOND ACTIVE LTD

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 May 2025

​Directors

Mrs S M Bataller

In order to assist you to fulfil your duties under the Companies Act 2006, we​ have prepared for your approval​​ the financial statements of Lomond Active Ltd for the year ended 30 May 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 the Institute of Chartered Accountants in England and Wales, we are​​ subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation​.

It is your duty to ensure that Lomond Active Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and (loss)/profit of Lomond Active Ltd. You consider that Lomond Active Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the financial statements of Lomond Active Ltd. 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.

This report is made to the Director​ of Lomond Active Ltd​, in accordance with the terms of accountants' engagement letter dated 1 July 2016​. Accountants' work has been undertaken so that the we might compile the financial statements that we have been engaged to compile, report to the Company's Director that we have done so​​ and state those matters that we​​ have agreed to state to them​​​​​ in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we​ do not accept or assume responsibility to anyone other than Lomond Active Ltd and its Director, for accountants' work or for this report.

Haggards Crowther LLP​
​Chartered Accountants​
​2nd floor, Heathmans House​
​19 Heathmans Road​
​London​
​SW6 4TJ

15 May 2026 

For the year​ ending 30 May 2025, the Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the Company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The Director acknowledges their​ responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the Single Statement of Comprehensive Income in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf:

Date: 15 May 2026 

The notes 6 on to 12 form part of these financial statements.

LOMOND ACTIVE LTD is a private company, limited by shares, registered in England and Wales. The company's registered number is 10196333 and its registered address is LOMOND ACTIVE LTD, 71-75 Shelton Street, Covent Garden, United Kingdom, London, WC2H 9JQ.

The financial statements have been prepared under the historic cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of ​Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The Company's functional and presentational currency is the Pound Sterling.

The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future. The Directors have considered the Company’s financial position, projected cash flows, and available funding sources in assessing its ability to continue as a going concern.

Turnover comprises the fair value of the consideration received or receivable for the provision of holiday accommodation, net of VAT and trade discounts. Revenue is recognized over the period of the stay, as the performance obligation to provide the accommodation is satisfied. Deposits received in advance of the stay are recognized as deferred income (a liability) on the balance sheet and are not included in turnover until the stay occurs. just to really point out that it is only providing holiday letting.

Finance costs are charged to the Income statement over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Property, plant and equipment is initially recognised at cost. Cost includes the purchase price and any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Subsequently, property, plant and equipment is measured using the cost model. Under the cost model, intangible assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

All property, plant and equipment is considered to have a finite useful life.

Depreciation is calculated to allocate the depreciable amount of property, plant and equipment to its residual values over its estimated useful lives on the following bases​:

If factors such as a change in how an asset is used, technological advancement, or changes in market prices indicate that the residual value or useful life of an asset has changed since the most recent reporting date, the Company reviews its previous estimates and, if current expectations differ, amends the residual value, amortisation method or useful life, accounting for this as a change in an accounting estimate.

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.

Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in the Income statement.

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income statement.

Cash and cash equivalents include cash in hand, deposits with financial institutions repayable without penalty on notice of not more than 24 hours, other highly liquid investments that mature in no more than three months from the date of acquisition and bank overdrafts. Bank overdrafts, where applicable, are shown within 'Creditors: amounts due within one year'.

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually  reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no judgements or key sources of estimation uncertainty that affect the preparation of the financial statements.

Included within the year end creditors balance is an amount due from the company to Mrs S M Bataller of £1,101,388 (2024: £1,052,923). Throughout the year, total withdrawal of funds amounted to £99,653 (2024: £48,347), with total deposits of £119,089 (2024: £131,158). The outstanding balance is unsecured, repayable on demand and not subject to interest.