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REGISTERED NUMBER: SC259505 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

LFI CREATIVE LTD

LFI CREATIVE LTD (REGISTERED NUMBER: SC259505)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LFI CREATIVE LTD

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: R Cairney
Mrs J Cairney





SECRETARY: Mrs J Cairney





REGISTERED OFFICE: First Floor, 5 Abercrombie Court
Prospect Road, Arnhall Business park
Westhill
Aberdeenshire
AB32 6FE





REGISTERED NUMBER: SC259505 (Scotland)





ACCOUNTANTS: Fyfe Moir & Associates
1st Floor, 5 Abercrombie Crt
Prospect Road,
Westhill
Aberdeenshire
Grampian
AB32 6FE

LFI CREATIVE LTD (REGISTERED NUMBER: SC259505)

Balance Sheet
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,169 5,414

CURRENT ASSETS
Debtors 5 57,587 61,079
Cash at bank - 1,385
57,587 62,464
CREDITORS
Amounts falling due within one year 6 58,722 58,384
NET CURRENT (LIABILITIES)/ASSETS (1,135 ) 4,080
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,034

9,494

CREDITORS
Amounts falling due after more than one year 7 (2,835 ) (7,927 )

PROVISIONS FOR LIABILITIES 8 (982 ) (1,029 )
NET ASSETS 217 538

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 117 438
SHAREHOLDERS' FUNDS 217 538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LFI CREATIVE LTD (REGISTERED NUMBER: SC259505)

Balance Sheet - continued
30 NOVEMBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





R Cairney - Director


LFI CREATIVE LTD (REGISTERED NUMBER: SC259505)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

LFI Creative Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

LFI CREATIVE LTD (REGISTERED NUMBER: SC259505)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2023 15,615 1,679 17,294
Additions - 1,837 1,837
Disposals (672 ) - (672 )
At 30 November 2024 14,943 3,516 18,459
DEPRECIATION
At 1 December 2023 11,695 185 11,880
Charge for year 953 989 1,942
Eliminated on disposal (532 ) - (532 )
At 30 November 2024 12,116 1,174 13,290
NET BOOK VALUE
At 30 November 2024 2,827 2,342 5,169
At 30 November 2023 3,920 1,494 5,414

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 6,216 9,610
Directors' current accounts 34,515 36,013
Tax 15,456 15,456
Prepayments and accrued income 1,400 -
57,587 61,079

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 21,546 20,362
Hire purchase contracts 367 489
Trade creditors 13,987 17,556
Tax 15,307 10,535
VAT 1,452 2,561
Other creditors 165 253
Accruals and deferred income 5,898 6,628
58,722 58,384

LFI CREATIVE LTD (REGISTERED NUMBER: SC259505)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans - 1-2 years 2,835 7,560
Hire purchase contracts - 367
2,835 7,927

8. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax 982 1,029

Deferred
tax
£   
Balance at 1 December 2023 1,029
Movement in year (47 )
Balance at 30 November 2024 982

9. ULTIMATE CONTROLLING PARTY

Mr R Cairney, one of the directors, controls the company