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REGISTERED NUMBER: 08863004 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

LAGAN FILMS LTD

LAGAN FILMS LTD (REGISTERED NUMBER: 08863004)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAGAN FILMS LTD

COMPANY INFORMATION
for the Year Ended 31st January 2024







DIRECTOR: M J Wells





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 08863004 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

LAGAN FILMS LTD (REGISTERED NUMBER: 08863004)

BALANCE SHEET
31st January 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,451 2,997

CURRENT ASSETS
Debtors 5 14,069 14,196
Cash at bank 7 1,142
14,076 15,338
CREDITORS
Amounts falling due within one year 6 13,622 11,187
NET CURRENT ASSETS 454 4,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,905

7,148

CREDITORS
Amounts falling due after more than one year 7 (3,768 ) (6,428 )

PROVISIONS FOR LIABILITIES 8 (846 ) (569 )
NET ASSETS 291 151

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 191 51
SHAREHOLDERS' FUNDS 291 151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LAGAN FILMS LTD (REGISTERED NUMBER: 08863004)

BALANCE SHEET - continued
31st January 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30th October 2024 and were signed by:





M J Wells - Director


LAGAN FILMS LTD (REGISTERED NUMBER: 08863004)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st January 2024

1. STATUTORY INFORMATION

Lagan Films 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

LAGAN FILMS LTD (REGISTERED NUMBER: 08863004)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st February 2023 6,618
Additions 3,532
At 31st January 2024 10,150
DEPRECIATION
At 1st February 2023 3,621
Charge for year 2,078
At 31st January 2024 5,699
NET BOOK VALUE
At 31st January 2024 4,451
At 31st January 2023 2,997

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Trade debtors - 1,710
Directors' current accounts 14,069 12,486
14,069 14,196

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 5,996 2,660
Tax 6,050 7,133
Social security and other taxes 184 163
Accruals and deferred income 1,392 1,231
13,622 11,187

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/1/24 31/1/23
£    £   
Bank loans - 1-2 years 2,660 2,660
Bank loans - 2-5 years 1,108 3,768
3,768 6,428

LAGAN FILMS LTD (REGISTERED NUMBER: 08863004)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st January 2024

8. PROVISIONS FOR LIABILITIES
31/1/24 31/1/23
£    £   
Deferred tax 846 569

Deferred
tax
£   
Balance at 1st February 2023 569
Accelerated capital allowances 277
Balance at 31st January 2024 846

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/1/24 31/1/23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st January 2024 and 31st January 2023:

31/1/24 31/1/23
£    £   
M J Wells
Balance outstanding at start of year 12,486 16,270
Amounts advanced 51,140 51,802
Amounts repaid (49,557 ) (55,586 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,069 12,486

The directors loan account is payable on demand, is unsecured and interest is being charged at 2 percent (2023) and 2.25 percent (2024).