IRIS Accounts Production v25.1.4.42 11652253 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false Ordinary 0.0100 Founders A 0.010 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116522532023-10-31116522532024-10-31116522532023-11-012024-10-31116522532022-10-31116522532022-11-012023-10-31116522532023-10-3111652253ns15:EnglandWales2023-11-012024-10-3111652253ns14:PoundSterling2023-11-012024-10-3111652253ns10:Director12023-11-012024-10-3111652253ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3111652253ns10:SmallEntities2023-11-012024-10-3111652253ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3111652253ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3111652253ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3111652253ns10:FullAccounts2023-11-012024-10-311165225312023-11-012024-10-3111652253ns10:OrdinaryShareClass12023-11-012024-10-3111652253ns10:OrdinaryShareClass22023-11-012024-10-3111652253ns10:Director22023-11-012024-10-3111652253ns10:RegisteredOffice2023-11-012024-10-3111652253ns5:CurrentFinancialInstruments2024-10-3111652253ns5:CurrentFinancialInstruments2023-10-3111652253ns5:ShareCapital2024-10-3111652253ns5:ShareCapital2023-10-3111652253ns5:SharePremium2024-10-3111652253ns5:SharePremium2023-10-3111652253ns5:RetainedEarningsAccumulatedLosses2024-10-3111652253ns5:RetainedEarningsAccumulatedLosses2023-10-3111652253ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3111652253ns5:PatentsTrademarksLicencesConcessionsSimilar2023-11-012024-10-3111652253ns5:PlantMachinery2023-11-012024-10-3111652253ns5:IntangibleAssetsOtherThanGoodwill2023-10-3111652253ns5:IntangibleAssetsOtherThanGoodwill2024-10-3111652253ns5:IntangibleAssetsOtherThanGoodwill2023-10-3111652253ns5:PlantMachinery2023-10-3111652253ns5:PlantMachinery2024-10-3111652253ns5:PlantMachinery2023-10-3111652253ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3111652253ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3111652253ns10:OrdinaryShareClass12024-10-3111652253ns10:OrdinaryShareClass22024-10-3111652253ns5:RetainedEarningsAccumulatedLosses2023-10-3111652253ns5:SharePremium2023-10-3111652253ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-31
REGISTERED NUMBER: 11652253 (England and Wales)










LGN Innovations Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024






LGN Innovations Limited (Registered number: 11652253)






Contents of the Financial Statements
for the year ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LGN Innovations Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: Dr J F Trehern
Mr D R Warner





REGISTERED OFFICE: Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN





REGISTERED NUMBER: 11652253 (England and Wales)





ACCOUNTANTS: Salisbury & Company
Chartered Accountants
Irish Square
Upper Denbigh Road
St Asaph
Denbighshire
LL17 0RN

LGN Innovations Limited (Registered number: 11652253)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,365 44,517
Tangible assets 5 27,179 13,255
61,544 57,772

CURRENT ASSETS
Debtors 6 81,051 56,887
Cash at bank 102,911 266,195
183,962 323,082
CREDITORS
Amounts falling due within one year 7 1,206,832 1,224,089
NET CURRENT LIABILITIES (1,022,870 ) (901,007 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(961,326

)

(843,235

)

PROVISIONS FOR LIABILITIES 1,555 1,555
NET LIABILITIES (962,881 ) (844,790 )

CAPITAL AND RESERVES
Called up share capital 8 156 156
Share premium 9 1,063,578 1,063,578
Retained earnings 9 (2,026,615 ) (1,908,524 )
SHAREHOLDERS' FUNDS (962,881 ) (844,790 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

LGN Innovations Limited (Registered number: 11652253)

Balance Sheet - continued
31 October 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 14 July 2025 and were signed on its behalf by:





Mr D R Warner - Director


LGN Innovations Limited (Registered number: 11652253)

Notes to the Financial Statements
for the year ended 31 October 2024

1. STATUTORY INFORMATION

LGN Innovations Limited is a private company, limited by shares , registered in England and Wales. 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.

The presentational and functional currency of these financial statements is pound sterling; the financial
statements are rounded to the nearest pound.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

LGN Innovations Limited (Registered number: 11652253)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2023 54,797
Additions 1,176
At 31 October 2024 55,973
AMORTISATION
At 1 November 2023 10,280
Charge for year 11,328
At 31 October 2024 21,608
NET BOOK VALUE
At 31 October 2024 34,365
At 31 October 2023 44,517

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 22,588
Additions 14,491
At 31 October 2024 37,079
DEPRECIATION
At 1 November 2023 9,333
Charge for year 567
At 31 October 2024 9,900
NET BOOK VALUE
At 31 October 2024 27,179
At 31 October 2023 13,255

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,800 -
Amounts owed by group undertakings 55,251 55,251
Other debtors - 1,536
Prepayments - 100
81,051 56,887

LGN Innovations Limited (Registered number: 11652253)

Notes to the Financial Statements - continued
for the year ended 31 October 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30 30
Trade creditors 19,249 24,606
Amounts owed to group undertakings 1,184,565 1,184,565
Social security and other taxes - 3,676
VAT 938 9,162
Accrued expenses 2,050 2,050
1,206,832 1,224,089

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
57,224 Ordinary 0.1p 138 138
50,000 Founders A 0.01p 18 18
156 156

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2023 (1,908,524 ) 1,063,578 (844,946 )
Deficit for the year (118,091 ) (118,091 )
At 31 October 2024 (2,026,615 ) 1,063,578 (963,037 )

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company and controlling party is LGN Innovations Inc a company incorporated in the United States of America