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REGISTERED NUMBER: SC431918 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Lorisa Limited

Lorisa Limited (Registered number: SC431918)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lorisa Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Ms L Henderson
Ms L Fairweather





REGISTERED OFFICE: 15 Avon Place
Edinburgh
EH4 6RE





REGISTERED NUMBER: SC431918 (Scotland)





ACCOUNTANTS: Neil Nisbet & Co.
c/o Neil Nisbet & Co.
Thain House
226 Queensferry Road
Edinburgh
EH4 2BP

Lorisa Limited (Registered number: SC431918)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,686 28,540
Tangible assets 5 27,700 31,190
53,386 59,730

CURRENT ASSETS
Stocks 2,250 2,450
Debtors 6 33,180 66,900
Cash at bank and in hand 404,581 327,227
440,011 396,577
CREDITORS
Amounts falling due within one year 7 86,371 86,635
NET CURRENT ASSETS 353,640 309,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,026

369,672

PROVISIONS FOR LIABILITIES 6,925 7,800
NET ASSETS 400,101 361,872

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 400,099 361,870
SHAREHOLDERS' FUNDS 400,101 361,872

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Lorisa Limited (Registered number: SC431918)

Balance Sheet - continued
31 October 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 30 July 2024 and were signed on its behalf by:





Ms L Henderson - Director


Lorisa Limited (Registered number: SC431918)

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

1. STATUTORY INFORMATION

Lorisa Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover represents net income from operating activities, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Lorisa Limited (Registered number: SC431918)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 57,080
AMORTISATION
At 1 November 2022 28,540
Charge for year 2,854
At 31 October 2023 31,394
NET BOOK VALUE
At 31 October 2023 25,686
At 31 October 2022 28,540

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 94,670
Additions 1,430
At 31 October 2023 96,100
DEPRECIATION
At 1 November 2022 63,480
Charge for year 4,920
At 31 October 2023 68,400
NET BOOK VALUE
At 31 October 2023 27,700
At 31 October 2022 31,190

Lorisa Limited (Registered number: SC431918)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 33,180 66,900

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 2,522 5,193
Taxation and social security 65,184 64,601
Other creditors 18,665 16,841
86,371 86,635

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Ms L Henderson
Balance outstanding at start of year 27,415 14,880
Amounts advanced 13,465 27,415
Amounts repaid (27,415 ) (14,880 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,465 27,415

Ms L Fairweather
Balance outstanding at start of year 27,415 14,880
Amounts advanced 13,465 27,415
Amounts repaid (27,415 ) (14,880 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,465 27,415

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £76,750 (2022 - £76,750) were paid to the directors .