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REGISTERED NUMBER: 09243371 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LANTERN DESIGN LTD

LANTERN DESIGN LTD (REGISTERED NUMBER: 09243371)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


LANTERN DESIGN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 December 2024







DIRECTOR: Mr R J Tym





REGISTERED OFFICE: 41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX





REGISTERED NUMBER: 09243371 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

LANTERN DESIGN LTD (REGISTERED NUMBER: 09243371)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,774 6,337

CURRENT ASSETS
Debtors 5 15,304 6,526
Cash at bank 50,895 83,512
66,199 90,038
CREDITORS
Amounts falling due within one year 6 25,923 6,750
NET CURRENT ASSETS 40,276 83,288
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,050

89,625

PROVISIONS FOR LIABILITIES 1,444 1,584
NET ASSETS 44,606 88,041

CAPITAL AND RESERVES
Called up share capital 127 127
Retained earnings 44,479 87,914
SHAREHOLDERS' FUNDS 44,606 88,041

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 15 July 2025 and were signed by:





Mr R J Tym - Director


LANTERN DESIGN LTD (REGISTERED NUMBER: 09243371)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2024

1. STATUTORY INFORMATION

Lantern Design Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

RELATED PARTY EXEMPTION
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with directors as all transactions and arrangements are within normal market conditions.

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
Computer equipment - 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 - 3 ) .

LANTERN DESIGN LTD (REGISTERED NUMBER: 09243371)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 1,458 15,565 17,023
Additions 347 783 1,130
At 31 December 2024 1,805 16,348 18,153
DEPRECIATION
At 1 January 2024 547 10,139 10,686
Charge for year 271 1,422 1,693
At 31 December 2024 818 11,561 12,379
NET BOOK VALUE
At 31 December 2024 987 4,787 5,774
At 31 December 2023 911 5,426 6,337

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,652 5,201
Other debtors 240 349
Prepayments 1,412 976
15,304 6,526

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (117 ) 26
Tax 11,392 5,538
Social security and other taxes 22 (3,255 )
VAT 1,710 3,075
Directors' current accounts 66 66
Accruals and deferred income 12,850 1,300
25,923 6,750

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 6,015 -
Between one and five years 3,007 -
9,022 -

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a balance owed to the director of £66 (2023 £66). This loan has no repayment terms and does not attract interest.