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Registered number: 00592530










LISONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

For the Year Ended 31 August 2024

 
LISONS LIMITED
Registered number: 00592530

STATEMENT OF FINANCIAL POSITION
As at 31 August 2024

2024
2024
2023
2023
£
£
£
£

Fixed assets
  

Tangible assets
 4 
412,271
422,104

  
412,271
422,104

Current assets
  

Debtors: amounts falling due within one year
 5 
1,122,591
1,224,835

Cash at bank and in hand
 6 
191,171
260,990

  
1,313,762
1,485,825

Creditors: amounts falling due within one year
 7 
(1,046,455)
(1,196,596)

Net current assets
  
 
 
267,307
 
 
289,229

Total assets less current liabilities
  
679,578
711,333

Creditors: amounts falling due after more than one year
 8 
(56,450)
(92,500)

  

Net assets
  
623,128
618,833


Capital and reserves
  

Called up share capital 
  
4,000
4,000

Other reserves
  
323
323

Profit and loss account
  
618,805
614,510

  
623,128
618,833


Page 1

 
LISONS LIMITED
Registered number: 00592530
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 August 2024

The director considers 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 director acknowledges his 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.

The Company has opted not to file the statement of income and retained earnings 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 28 March 2025.






J. F. Grieve
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LISONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2024

1.


General information

Lisons Limited is a private limited company, limited by shares, incorporated in England and Wales. It's registered office is Suite 4, 2 Station Court, Townmead Road, Imperial Wharf, London, SW6 2PY. The company number is 00592530.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company depends on its existing bank facilities to meet its day to day working capital requirements. Current forecasts indicate that the company expects to be able to operate within these facilities for whole of the foreseeable future. These facilities are renewed annually and are not guaranteed for the period covered by the going concern review. The Directors are not aware, however, of any circumstances that may adversely affect the renewal of these facilities. Accordingly, the directors believe it is appropriate to prepare the financial statements on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

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.

Page 3

 
LISONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Fixtures & fittings
-
15% to 33% straight line

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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

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 in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
LISONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Pensions

Defined contribution pension plan

The Company operates 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.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
LISONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.14

Taxation

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 3 (2023 - 3).






Page 6

 
LISONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2024

4.


Tangible fixed assets





Freehold property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 September 2023
484,076
21,299
505,375



At 31 August 2024

484,076
21,299
505,375



Depreciation


At 1 September 2023
62,124
21,147
83,271


Charge for the year on owned assets
9,681
152
9,833



At 31 August 2024

71,805
21,299
93,104



Net book value



At 31 August 2024
412,271
-
412,271



At 31 August 2023
421,952
152
422,104

Page 7

 
LISONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,057,474
1,164,068

Other debtors
55,651
54,493

Prepayments and accrued income
9,466
6,274

1,122,591
1,224,835



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
191,171
260,990

191,171
260,990



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
33,933
30,820

Trade creditors
996,996
1,153,132

Corporation tax
9,098
-

Other taxation and social security
-
6,216

Accruals and deferred income
6,428
6,428

1,046,455
1,196,596



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
56,450
92,500

56,450
92,500


Bank loans are secured on the freehold property of the company.

Page 8

 
LISONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
33,933
30,820


33,933
30,820

Amounts falling due 1-2 years

Bank loans
36,426
33,237


36,426
33,237

Amounts falling due 2-5 years

Bank loans
20,024
59,263


20,024
59,263


90,383
123,320



10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund.


11.


Controlling party

The controlling party of the company is J. F. Grieve.

 
Page 9