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REGISTERED NUMBER: SC641131 (Scotland)




















Lismore Real Estate Advisors Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Lismore Real Estate Advisors Limited (Registered number: SC641131)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lismore Real Estate Advisors Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S M Cusiter
C L Macfarlane
R A Mackie
C Finlayson



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC641131 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland plc
36 St Andrew Square
Edinburgh
EH2 2AD

Lismore Real Estate Advisors Limited (Registered number: SC641131)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,153 20,502

CURRENT ASSETS
Debtors 5 14,867 247,424
Cash at bank 513,563 899,462
528,430 1,146,886
CREDITORS
Amounts falling due within one year 6 133,533 269,867
NET CURRENT ASSETS 394,897 877,019
TOTAL ASSETS LESS CURRENT LIABILITIES 405,050 897,521

CREDITORS
Amounts falling due after more than one
year

7

-

(2,639

)

PROVISIONS FOR LIABILITIES (601 ) (1,377 )
NET ASSETS 404,449 893,505

Lismore Real Estate Advisors Limited (Registered number: SC641131)

Balance Sheet - continued
29 February 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Share premium 249,999 249,999
Retained earnings 154,440 643,496
SHAREHOLDERS' FUNDS 404,449 893,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 25 November 2024 and were signed on its behalf by:





R A Mackie - Director


Lismore Real Estate Advisors Limited (Registered number: SC641131)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Lismore Real Estate Advisors 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.

The directors going concern assessment includes a period of at least 12 months from the date of signing of these financial statements.

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.
Plant and machinery etc - 33% on cost, 20% on cost and over lease term

Depreciation will commence being charged once the company has commenced trading.

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.


Lismore Real Estate Advisors Limited (Registered number: SC641131)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Grants
Grants in relation to tangible fixed asset are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

Lismore Real Estate Advisors Limited (Registered number: SC641131)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 58,713
DEPRECIATION
At 1 March 2023 38,211
Charge for year 10,349
At 29 February 2024 48,560
NET BOOK VALUE
At 29 February 2024 10,153
At 28 February 2023 20,502

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 224,250
Other debtors 14,867 23,174
14,867 247,424

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,448 16,831
Taxation and social security 93,366 239,486
Other creditors 29,719 13,550
133,533 269,867

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors - 2,639

Lismore Real Estate Advisors Limited (Registered number: SC641131)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 21,022 21,022
Between one and five years - 21,022
21,022 42,044