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LT CREATIONS LIMITED

Registered Number
SC560818
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2024

LT CREATIONS LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

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 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets43,5605,023
3,5605,023
Current assets
Debtors513,57213,572
Cash at bank and on hand28,46135,913
42,03349,485
Creditors amounts falling due within one year6(15,252)(12,174)
Net current assets (liabilities)26,78137,311
Total assets less current liabilities30,34142,334
Creditors amounts falling due after one year7(5,333)(13,333)
Provisions for liabilities(676)(954)
Net assets24,33228,047
Capital and reserves
Called up share capital100100
Profit and loss account24,23227,947
Shareholders' funds24,33228,047
The financial statements were approved and authorised for issue by the Director on 17 February 2025, 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 2024

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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 2322,23022,230
At 30 September 2422,23022,230
Amortisation and impairment
At 01 October 2322,23022,230
At 30 September 2422,23022,230
Net book value
At 30 September 24--
At 30 September 23--
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 October 236705,7673,59110,028
Additions--400400
At 30 September 246705,7673,99110,428
Depreciation and impairment
At 01 October 234381,5942,9735,005
Charge for year341,3914381,863
At 30 September 244722,9853,4116,868
Net book value
At 30 September 241982,7825803,560
At 30 September 232324,1736185,023
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables13,57213,572
Total13,57213,572
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts8,0008,000
Taxation and social security1,7402,604
Other creditors68170
Accrued liabilities and deferred income5,4441,400
Total15,25212,174
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts5,33313,333
Total5,33313,333
8.Other commitments
An operating lease commitment exists at the balance sheet date in respect of rent of £18,000 (2023: £18,000).