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REGISTERED NUMBER: 11354412 (England and Wales)











Lantern Ventures Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2023






Lantern Ventures Ltd (Registered number: 11354412)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Lantern Ventures Ltd

Company Information
for the Year Ended 31 May 2023







Directors: R G Cotton-Barratt
T J Mac Aulay
J Edgerton-Avin





Registered office: 71-75 Shelton Street
London
WC2H 9JQ





Registered number: 11354412 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

Lantern Ventures Ltd (Registered number: 11354412)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £   
Fixed assets
Tangible assets 4 25,420 35,826
Investments 5 3,750,058 3,784,301
3,775,478 3,820,127

Current assets
Debtors 6 541,006 1,128,815
Investments 7 108,704 -
Cash at bank 526,567 2,167,119
1,176,277 3,295,934
Creditors
Amounts falling due within one year 8 (109,395 ) (1,353,457 )
Net current assets 1,066,882 1,942,477
Total assets less current liabilities 4,842,360 5,762,604

Provisions for liabilities 9 - (29,459 )
Net assets 4,842,360 5,733,145

Capital and reserves
Called up share capital 10 32,350 30,618
Share premium 947,650 249,382
Fair value reserve 11 - 125,588
Retained earnings 3,862,360 5,327,557
Shareholders' funds 4,842,360 5,733,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Lantern Ventures Ltd (Registered number: 11354412)

Balance Sheet - continued
31 May 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:





T J Mac Aulay - Director


Lantern Ventures Ltd (Registered number: 11354412)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. Statutory information

Lantern Ventures Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis on the grounds that the directors will continue to provide sufficient finance to enable the company to continue trading for the foreseeable future.

Turnover
Turnover represents the invoiced value of services provided net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Lantern Ventures Ltd (Registered number: 11354412)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution auto-enrolment pension scheme for the employees. In addition to this the company makes contributions to a personal pension scheme of the directors. Contributions payable for the year are charged in the profit and loss account.

3. Employees and directors

The average number of employees during the year was 15 (2022 - 11 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 June 2022 59,067
Additions 5,432
Disposals (3,507 )
At 31 May 2023 60,992
Depreciation
At 1 June 2022 23,241
Charge for year 13,207
Eliminated on disposal (876 )
At 31 May 2023 35,572
Net book value
At 31 May 2023 25,420
At 31 May 2022 35,826

Lantern Ventures Ltd (Registered number: 11354412)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

5. Fixed asset investments
Other
investments
£   
Cost or valuation
At 1 June 2022 3,784,301
Additions 842,925
Disposals (1,072,024 )
Valuation changes 194,856
At 31 May 2023 3,750,058
Net book value
At 31 May 2023 3,750,058
At 31 May 2022 3,784,301

Cost or valuation at 31 May 2023 is represented by:

Other
investments
£   
Valuation in 2023 3,750,058

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.5.23 31.5.22
£    £   
Cost 3,780,598 3,699,561

Fixed asset investments were valued on an open market basis on 31 May 2023 by the directors .

6. Debtors: amounts falling due within one year
31.5.23 31.5.22
£    £   
Trade debtors 353,928 1,110,090
Other debtors 78,785 5,250
Tax 89,422 -
VAT 11,433 13,475
Prepayments 7,438 -
541,006 1,128,815

Lantern Ventures Ltd (Registered number: 11354412)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. Current asset investments
31.5.23 31.5.22
£    £   
Unlisted investments 108,704 -

8. Creditors: amounts falling due within one year
31.5.23 31.5.22
£    £   
Trade creditors 534 174,753
Corporation tax - 229,506
Social security and other taxes 59,756 163,920
Other creditors 45,605 776,772
Accrued expenses 3,500 8,506
109,395 1,353,457

9. Provisions for liabilities
31.5.23 31.5.22
£    £   
Deferred tax - 29,459

Deferred
tax
£   
Balance at 1 June 2022 29,459
Credit to Income statement during year (29,459 )
Balance at 31 May 2023 -

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
30,000,000 Ordinary £0.00 1 30,000 30,000
2,350,129 Ordinary "B" £0.00 1 2,350 618
32,350 30,618

1,731,674 Ordinary "B" shares of £0.001 each were allotted as fully paid at a premium of .404233 per share during the year.

Lantern Ventures Ltd (Registered number: 11354412)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

11. Reserves
Fair
value
reserve
£   
At 1 June 2022 125,588
Transfer from retained earnings (125,588 )

At 31 May 2023 -