LLS-UK LTD


Directors	Murray Ritchie
	Natalia Streeter


Registered Address	52 Hallfield Crescent
	Aberdeen
	AB16 6SD


Registered Number	SC749713 (Scotland)

Notes to the Financial Statements
for the year ended 30 November 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention, except for investment properties which are measured at fair value, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, including Section 1A Small Entities.

	Turnover policy
	Rental income is recognised on a straight-line basis over the period of the tenancy. Holiday accommodation income is recognised over the period in which the accommodation is provided.

	Finance costs
	Finance costs are recognised in profit or loss over the term of the relevant borrowing using the effective interest method. Finance costs include interest payable and the amortisation of directly attributable loan transaction costs.

	Current taxation
	Current tax represents the amount of corporation tax payable or recoverable in respect of the taxable profit or loss for the current and previous reporting periods. Current tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date. Current tax is recognised in profit or loss, except where it relates to an item recognised in other comprehensive income or directly in equity, in which case the related tax is recognised in the same component.

Current taxation

Current tax represents the amount of corporation tax payable or recoverable in respect of the taxable profit or loss for the current and previous reporting periods. Current tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date. Current tax is recognised in profit or loss, except where it relates to an item recognised in other comprehensive income or directly in equity, in which case the related tax is recognised in the same component.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Plant and machinery are stated at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated to write off the cost of the assets, less their estimated residual value, over their estimated useful economic life on a straight-line basis.


		Straight line (years)
	Plant and machinery	5

	Investment property
	The investment properties are held for rental income and capital appreciation. The carrying value of the investment properties at the reporting date is £162,482.48. The properties are remeasured to fair value at each reporting date in accordance with FRS 102, Section 16, with changes in fair value recognised in profit or loss.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		2

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Total
	£	£	£
Cost or valuation
At 01 December 24	162,482	-	162,482
Additions	-	22,240	22,240
At 30 November 25	162,482	22,240	184,722
Depreciation and impairment
Charge for year	-	3,336	3,336
At 30 November 25	-	3,336	3,336
Net book value
At 30 November 25	162,482	18,904	181,386
At 30 November 24	162,482	-	162,482

4.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	2,911	-
Other debtors	-	55
Prepayments and accrued income	2,328	212
Total	5,239	267


	This represents amounts paid in advance for goods or services that relate to a future accounting period. These prepayments are recognised as an asset until the benefit of the goods or services is received, at which point they are expensed to the Statement of Comprehensive Income. Common prepayments include insurance, rent, or other operating costs paid ahead of their due date.

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	9,133	-
Amounts owed to related parties	25,393	27,385
Other creditors	7,681	12,251
Total	42,207	39,636


	This represents obligations of the company that are expected to be settled within twelve months of the reporting date. This typically includes: Trade Payables: Amounts due to suppliers for goods and services received, such as property maintenance, repairs, utilities, and administrative expenses. Amounts owed to Directors: Short-term loans or advances from the directors, or expenses paid by the director on behalf of the company, that are expected to be repaid within one year. The carrying amounts of creditors are considered to approximate their fair value due to their short-term nature.

This represents obligations of the company that are expected to be settled within twelve months of the reporting date. This typically includes:

Trade Payables: Amounts due to suppliers for goods and services received, such as property maintenance, repairs, utilities, and administrative expenses.

Amounts owed to Directors: Short-term loans or advances from the directors, or expenses paid by the director on behalf of the company, that are expected to be repaid within one year.

The carrying amounts of creditors are considered to approximate their fair value due to their short-term nature.

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	96,867	68,867
Total	96,867	68,867


	Creditors due after more than one year comprise mortgage borrowings secured against the company’s investment properties. The borrowings are repayable in accordance with the terms of the respective mortgage agreements.

7.	Creditors: amounts due after 5 years
	Included within creditors due after more than one year are secured mortgage borrowings of £96,867 (2024: £68,867) that are contractually repayable after more than five years.

8.	Secured creditors
	Mortgage borrowings of £96,867 (2024: £68,867) are secured by charges over the company’s investment properties.

9.	Provisions for liabilities
	This represents the deferred tax liability arising from the temporary difference between the carrying value of the company's investment properties and their tax base. The balance of £11,400 has been recognised in respect of the deferred tax arising on the revaluation of the investment properties.

	2025	2024
	£	£
Net deferred tax liability (asset)	11,400	-
Total	11,400	-

10.	Share capital
	Allotted, Called up and fully paid: £2 (2025) (2024: £2)

11.	Revaluation reserve
	Investment properties are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss in accordance with FRS 102 Section 16. An amount equal to the cumulative unrealised fair-value gains has been transferred from retained earnings to a separate non-distributable reserve for presentation purposes. During the year, deferred tax of £11,400 was recognised in respect of the taxable timing difference arising on the investment properties. This reduced the revaluation reserve from £60,000 to £48,600.

11.

Revaluation reserve

Investment properties are measured at fair value at each reporting date, with changes in fair value recognised in profit or loss in accordance with FRS 102 Section 16. An amount equal to the cumulative unrealised fair-value gains has been transferred from retained earnings to a separate non-distributable reserve for presentation purposes.

During the year, deferred tax of £11,400 was recognised in respect of the taxable timing difference arising on the investment properties. This reduced the revaluation reserve from £60,000 to £48,600.


		£
	Reserve at 01 December 24	60,000
	Deferred Tax on Revaluations	(11,400)
	At 30 November 25	48,600

12.	Related party transactions
	The company has transactions with related parties as defined by FRS 102. Directors’ loans: At the reporting date, the company owed £25,393 (2024: £27,385) to its directors. This comprised £10,707 (2024: £10,115) owed to Murray Ritchie and £14,686 (2024: £17,270) owed to Natalia Streeter. These balances arose from funds advanced and expenses paid on behalf of the company. The balances are unsecured, interest-free and repayable on demand. Intercompany loans: At the reporting date, the company owed £6,699 (2024: £12,251) to JOR Property Ltd, a company controlled by Murray Ritchie. The company also owed £980 (2024: £nil) to Innovate App Solutions Ltd, now trading as Beyond Bookkeeping, a company controlled by Natalia Streeter. These balances are unsecured, interest-free and repayable on demand. The difference between the individually rounded balances and the amount presented within other creditors arises from accounts-production rounding adjustments.

12.

Related party transactions

The company has transactions with related parties as defined by FRS 102.

Directors’ loans: At the reporting date, the company owed £25,393 (2024: £27,385) to its directors. This comprised £10,707 (2024: £10,115) owed to Murray Ritchie and £14,686 (2024: £17,270) owed to Natalia Streeter. These balances arose from funds advanced and expenses paid on behalf of the company. The balances are unsecured, interest-free and repayable on demand.

Intercompany loans: At the reporting date, the company owed £6,699 (2024: £12,251) to JOR Property Ltd, a company controlled by Murray Ritchie. The company also owed £980 (2024: £nil) to Innovate App Solutions Ltd, now trading as Beyond Bookkeeping, a company controlled by Natalia Streeter. These balances are unsecured, interest-free and repayable on demand. The difference between the individually rounded balances and the amount presented within other creditors arises from accounts-production rounding adjustments.

13.	Controlling party
	The company's controlling parties are the directors, Natalia Streeter and Murray James Ritchie, by virtue of their shareholdings.

	Notes	2025		2024
		£	£	£	£
ASSETS
Fixed assets
Tangible assets	3		181,386		162,482
			181,386		162,482
Current assets
Debtors	4	5,239		267
Cash at bank and in hand		5,915		4,641
		11,154		4,908
			11,154		4,908
			192,540		167,390
CAPITAL, RESERVES AND LIABILITIES
Capital and reserves
Called up share capital			2		2
Revaluation reserve			48,600		60,000
Profit and loss account			(6,536)		(1,115)
	11		42,066		58,887
Liabilities
Creditors amounts falling due within one year	5		42,207		39,636
Creditors amounts falling due after one year	6		96,867		68,867
Provisions for liabilities	9		(11,400)		-
			192,540		167,390