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Registration number: SC269049

LNC Associates Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

LNC Associates Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

LNC Associates Ltd

Company Information

Director

Ms Flora Cassels

Company secretary

Mr Gerard Cassels

Registered office

324 Leith Walk
Edinburgh
EH6 5BU

Accountants

Ross McConnell
Chartered Accountant3 High Street
Kinross
KY13 8AW

 

LNC Associates Ltd

(Registration number: SC269049)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

1,299

-

Current assets

 

Debtors

5

21

21

Cash at bank and in hand

 

80,126

93,292

 

80,147

93,313

Creditors: Amounts falling due within one year

6

(1,596)

(890)

Net current assets

 

78,551

92,423

Net assets

 

79,850

92,423

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

79,750

92,323

Shareholders' funds

 

79,850

92,423

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 March 2025
 

.........................................
Ms Flora Cassels
Director

 

LNC Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
324 Leith Walk
Edinburgh
EH6 5BU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

LNC Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

LNC Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

17,891

17,891

Additions

1,299

1,299

At 30 June 2024

19,190

19,190

Depreciation

At 1 July 2023

17,891

17,891

At 30 June 2024

17,891

17,891

Carrying amount

30 June 2024

1,299

1,299

At 30 June 2023

-

-

5

Debtors

Current

2024
£

2023
£

Other debtors

21

21

 

21

21

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

996

890

Accruals and deferred income

600

-

1,596

890

 

LNC Associates Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100