REGISTERED NUMBER: |
Lantern Ventures Ltd |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
REGISTERED NUMBER: |
Lantern Ventures Ltd |
Unaudited Financial Statements |
for the Year Ended 31 May 2024 |
Lantern Ventures Ltd (Registered number: 11354412) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Lantern Ventures Ltd |
Company Information |
for the Year Ended 31 May 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Lantern Ventures Ltd (Registered number: 11354412) |
Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Investments | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 9 |
Share premium |
Retained earnings |
Shareholders' funds |
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 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Lantern Ventures Ltd (Registered number: 11354412) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | Statutory information |
Lantern Ventures Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
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 2024 |
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 |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 June 2023 |
Additions |
Disposals | ( |
) |
At 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
Lantern Ventures Ltd (Registered number: 11354412) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
5. | Fixed asset investments |
Other |
investments |
£ |
Cost or valuation |
At 1 June 2023 |
Additions |
Disposals | ( |
) |
Valuation changes | ( |
) |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
Cost or valuation at 31 May 2024 is represented by: |
Other |
investments |
£ |
Valuation in 2024 | 3,837,288 |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
31.5.24 | 31.5.23 |
£ | £ |
Cost | 3,837,288 | 3,780,598 |
Fixed asset investments were valued on an open market basis on 31 May 2024 by the directors . |
6. | Debtors: amounts falling due within one year |
31.5.24 | 31.5.23 |
£ | £ |
Trade debtors |
Other debtors |
Tax |
VAT |
Prepayments |
Lantern Ventures Ltd (Registered number: 11354412) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
7. | Current asset investments |
31.5.24 | 31.5.23 |
£ | £ |
Unlisted investments | 4,395 | 108,704 |
8. | Creditors: amounts falling due within one year |
31.5.24 | 31.5.23 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accrued expenses |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary | £0.00 | 1 | 30,000 | 30,000 |
Ordinary "B" | £0.00 | 1 | 2,350 | 2,350 |
32,350 | 32,350 |