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Registered number: 03814204














LIME COMMUNICATIONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

 
LIME COMMUNICATIONS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 8


 
LIME COMMUNICATIONS LIMITED
REGISTERED NUMBER:03814204

STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
  
7,373
11,856

Current assets
  

Debtors: amounts falling due after more than one year
 5 
21,051
21,223

Debtors: amounts falling due within one year
 5 
477,366
645,219

Cash at bank and in hand
  
865,075
448,299

  
1,363,492
1,114,741

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(1,058,033)
(860,873)

Net current assets
  
 
 
305,459
 
 
253,868

Total assets less current liabilities
  
312,832
265,724

Provisions for liabilities
  

Deferred tax
 7 
(1,518)
(2,304)

Net assets
  
311,314
263,420


Capital and reserves
  

Called up share capital 
 8 
1,420
1,420

Share premium account
  
69,635
69,635

Profit and loss account
  
240,259
192,365

  
311,314
263,420


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
LIME COMMUNICATIONS LIMITED
REGISTERED NUMBER:03814204
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 AUGUST 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2025.




A J Ward
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LIME COMMUNICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

The Company's legal form is that of a private limited company incorporated in the United Kingdom. The Company's registered office is 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire WD6 1JD. The Company’s principal place of business is Studio G.02, Chester House, Kennington Park, 1-3 Brixton Road, London, SW9 6DE.
The principal activity of the Company is that of a brand partnership agency.
The functional and presentational currency of the Company is £ sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.

Revenue is recognised when services have been provided. Amounts receivable in respect of future  events are carried forward as deferred income.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

S/Term leasehold improvements
-
Over the term of the lease
Fixtures & fittings
-
25% - 33.33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
LIME COMMUNICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.4

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.5

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.

 
2.6

Creditors

Short term creditors are measured at the transaction price.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.10

Pensions

Defined contribution pension plan
The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
LIME COMMUNICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 16).

Page 5

 
LIME COMMUNICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Fixtures & fittings

£



Cost 


At 1 September 2023
31,805


Additions
10,547


Disposals
(26,107)



At 31 August 2024

16,245



Depreciation


At 1 September 2023
19,949


Charge for the year on owned assets
3,187


Disposals
(14,264)



At 31 August 2024

8,872



Net book value



At 31 August 2024
7,373



At 31 August 2023
11,857

Page 6

 
LIME COMMUNICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
21,051
21,223


2024
2023
£
£

Due within one year

Trade debtors
389,858
525,913

Other debtors
-
126

Prepayments and accrued income
87,508
119,180

477,366
645,219



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
783,789
382,158

Taxation and social security
81,042
132,720

Other creditors
7,310
12,187

Accruals and deferred income
185,892
333,808

1,058,033
860,873



7.


Deferred taxation




2024


£






At beginning of year
2,304


Released to profit and loss
(786)



At end of year
1,518

Page 7

 
LIME COMMUNICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
 
7.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
1,518
2,304


8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,420 Ordinary shares of £1.00 each
1,420
1,420


 
Page 8