Lincam Glasgow Limited 30/06/2021 iXBRL

LINCAM GLASGOW LIMITED - Company Information

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Company registration number: SC427180

Lincam Glasgow Limited

Filleted financial statements

30 June 2021

Lincam Glasgow Limited

Contents

Directors and other information

Directors responsibilities statement

Statement of financial position

Notes to the financial statements

Lincam Glasgow Limited

Directors and other information


	Directors	D J Cameron
		B R Linton


	Company number	SC427180


	Registered office	First Floor
		111 Grampian Road
		Aviemore
		PH22 1RH


	Business address	First Floor
		111 Grampian Road
		Aviemore
		PH22 1RH


	Auditor	FKF Accounting Limited
		Metropolitan House
		31-33 High Street
		Inverness
		IV1 1HT

Lincam Glasgow Limited

Directors responsibilities statement

Year ended 30 June 2021

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Lincam Glasgow Limited

Statement of financial position

30 June 2021

		2021		2020
	Note	£	£	£	£

Current assets
Debtors	5	2,745,705		2,743,842
Cash at bank and in hand		18,672		22,237
		_______		_______
		2,764,377		2,766,079
Creditors: amounts falling due
within one year	6	( 2,000)		( 2,840)
		_______		_______
Net current assets			2,762,377		2,763,239
			_______		_______
Total assets less current liabilities			2,762,377		2,763,239

			_______		_______
Net assets			2,762,377		2,763,239
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			2,762,375		2,763,237
			_______		_______
Shareholders funds			2,762,377		2,763,239
			_______		_______

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 17 June 2022 , and are signed on behalf of the board by:

D J Cameron

Director

Company registration number: SC427180

Lincam Glasgow Limited

Notes to the financial statements

Year ended 30 June 2021

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is First Floor, 111 Grampian Road, Aviemore, PH22 1RH.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 0 (2020: 0).

5. Debtors

	2021	2020
	£	£
Other debtors	2,745,705	2,743,842
	_______	_______

6. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	-	840
Other creditors	2,000	2,000
	_______	_______
	2,000	2,840
	_______	_______

7. Summary audit opinion

The auditor's report for the year dated 17 June 2022 was unqualified.

The senior statutory auditor was Colin Gray B.Com., C.A. for and on behalf of FKF Accounting Limited

8. Controlling party

The ultimate parent company is Camlin (No4) Limited, a company registered at 111 Grampian Road, Aviemore, PH22 1RH. The directors D J Cameron and B R Linton control Camlin (No4) Limited.