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LT CREATIONS LIMITED

Registered Number
SC560818
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2023

LT CREATIONS LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Director

Kevin Alexander Fleming

Registered Address

37 Gleneagles Avenue
Glenrothes
KY6 2QA

Registered Number

SC560818 (Scotland)
LT CREATIONS LIMITED
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets45,0231,577
5,0231,577
Current assets
Debtors13,572-
Cash at bank and on hand35,91357,778
49,48557,778
Creditors amounts falling due within one year6(12,174)(23,770)
Net current assets (liabilities)37,31134,008
Total assets less current liabilities42,33435,585
Creditors amounts falling due after one year7(13,333)(21,333)
Provisions for liabilities(954)(300)
Net assets28,04713,952
Capital and reserves
Called up share capital100100
Profit and loss account27,94713,852
Shareholders' funds28,04713,952
The financial statements were approved and authorised for issue by the Director on 29 February 2024, and are signed on its behalf by:
Kevin Alexander Fleming
Director
Registered Company No. SC560818
LT CREATIONS LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and accumulated impairment losses. Development costs are recognised then amortised over useful life of one year when into production.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Fixtures and fittings-3
Office Equipment253
Finance leases and hire purchase contracts
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20232022
Average number of employees during the year25
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 2222,23022,230
At 30 September 2322,23022,230
Amortisation and impairment
At 01 October 2222,23022,230
At 30 September 2322,23022,230
Net book value
At 30 September 23--
At 30 September 22--
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 October 22670-4,0524,722
Additions-5,767-5,767
Disposals--(461)(461)
At 30 September 236705,7673,59110,028
Depreciation and impairment
At 01 October 22397-2,7483,145
Charge for year411,5946072,242
On disposals--(382)(382)
At 30 September 234381,5942,9735,005
Net book value
At 30 September 232324,1736185,023
At 30 September 22273-1,3041,577
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables13,572-
Total13,572-
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables-7,248
Bank borrowings and overdrafts8,0008,000
Taxation and social security2,6047,092
Other creditors17030
Accrued liabilities and deferred income1,4001,400
Total12,17423,770
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts13,33321,333
Total13,33321,333
8.Other commitments
An operating lease commitment exists at the balance sheet date in respect of rent of £18,000 (2022: £18,000).