0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP SC142256 2023-04-01 2024-03-31 SC142256 2024-03-31 SC142256 2023-03-31 SC142256 2022-04-01 2023-03-31 SC142256 2023-03-31 SC142256 2022-03-31 SC142256 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 SC142256 bus:Director3 2023-04-01 2024-03-31 SC142256 core:WithinOneYear 2024-03-31 SC142256 core:WithinOneYear 2023-03-31 SC142256 core:AfterOneYear 2024-03-31 SC142256 core:AfterOneYear 2023-03-31 SC142256 core:ShareCapital 2024-03-31 SC142256 core:ShareCapital 2023-03-31 SC142256 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC142256 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC142256 bus:Director1 2023-04-01 2024-03-31 SC142256 bus:SmallEntities 2023-04-01 2024-03-31 SC142256 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC142256 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC142256 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC142256 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: SC142256
Lismor Recordings Limited
Filleted Unaudited Financial Statements
31 March 2024
Lismor Recordings Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
Lismor Recordings Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Lismor Recordings Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lismor Recordings Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Lismor Recordings Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Lismor Recordings Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lismor Recordings Limited and its director for our work or for this report.
It is your duty to ensure that Lismor Recordings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lismor Recordings Limited. You consider that Lismor Recordings Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Lismor Recordings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY Chartered Accountants
216 West George Street Glasgow G2 2PQ
24 January 2025
Lismor Recordings Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Current assets
Stocks
25,100
25,317
Debtors
4
14,676
Cash at bank and in hand
1,645
655
--------
--------
41,421
25,972
Creditors: amounts falling due within one year
5
33,924
32,283
--------
--------
Net current assets/(liabilities)
7,497
( 6,311)
-------
-------
Total assets less current liabilities
7,497
( 6,311)
Creditors: amounts falling due after more than one year
6
126,349
131,349
---------
---------
Net liabilities
( 118,852)
( 137,660)
---------
---------
Lismor Recordings Limited
Statement of Financial Position (continued)
31 March 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
( 119,852)
( 138,660)
---------
---------
Shareholders deficit
( 118,852)
( 137,660)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
Mr G Collins
Director
Company registration number: SC142256
Lismor Recordings Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.
Going concern
The company is reliant on the support of the director in order to continue in operational existence and meet its liabilities as they fall due. The director is satisfied that he will continue to support the company and as such the going concern basis is appropriate for the preparation of the accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2024
2023
£
£
Trade debtors
14,676
--------
----
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
20,634
29,134
Corporation tax
4,062
Social security and other taxes
2,953
2,114
Other creditors
6,275
1,035
--------
--------
33,924
32,283
--------
--------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
126,349
131,349
---------
---------
7. Director's advances, credits and guarantees
The balance owed to key management personnel as at 31st March 2024 amounted to £126,349 (2023: £131,349). This is interest free and has no fixed date for repayment.
8. Controlling party
The company was under the control of no individual party throughout the current and previous period.