3 false false false false false false false false false false true false false false false true false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 166,750 66,700 8,338 75,038 91,712 100,050 xbrli:pure xbrli:shares iso4217:GBP NI060671 2023-10-01 2024-09-30 NI060671 2024-09-30 NI060671 2023-09-30 NI060671 2022-10-01 2023-09-30 NI060671 2023-09-30 NI060671 2022-09-30 NI060671 core:NetGoodwill 2023-10-01 2024-09-30 NI060671 core:FurnitureFittings 2023-10-01 2024-09-30 NI060671 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 NI060671 bus:Director1 2023-10-01 2024-09-30 NI060671 core:NetGoodwill 2023-09-30 NI060671 core:NetGoodwill 2024-09-30 NI060671 core:FurnitureFittings 2023-09-30 NI060671 core:FurnitureFittings 2024-09-30 NI060671 core:WithinOneYear 2024-09-30 NI060671 core:WithinOneYear 2023-09-30 NI060671 core:AfterOneYear 2024-09-30 NI060671 core:AfterOneYear 2023-09-30 NI060671 core:ShareCapital 2024-09-30 NI060671 core:ShareCapital 2023-09-30 NI060671 core:RetainedEarningsAccumulatedLosses 2024-09-30 NI060671 core:RetainedEarningsAccumulatedLosses 2023-09-30 NI060671 core:NetGoodwill 2023-09-30 NI060671 core:FurnitureFittings 2023-09-30 NI060671 core:DeferredTaxation 2023-09-30 NI060671 core:DeferredTaxation 2024-09-30 NI060671 bus:SmallEntities 2023-10-01 2024-09-30 NI060671 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 NI060671 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI060671 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI060671 bus:FullAccounts 2023-10-01 2024-09-30 NI060671 bus:OrdinaryShareClass1 2024-09-30 NI060671 bus:OrdinaryShareClass1 2023-09-30
COMPANY REGISTRATION NUMBER: NI060671
Lissan Trading Limited
Filleted Unaudited Financial Statements
30 September 2024
Lissan Trading Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
91,712
100,050
Tangible assets
6
967
3,427
--------
---------
92,679
103,477
Current assets
Stocks
17,873
19,234
Debtors
7
4,221
4,056
Cash at bank and in hand
2,897
3,650
--------
--------
24,991
26,940
Creditors: amounts falling due within one year
8
24,986
24,790
--------
--------
Net current assets
5
2,150
--------
---------
Total assets less current liabilities
92,684
105,627
Creditors: amounts falling due after more than one year
9
13,892
16,613
Provisions
10
1,120
1,274
--------
---------
Net assets
77,672
87,740
--------
---------
Lissan Trading Limited
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
11
1
1
Profit and loss account
77,671
87,739
--------
--------
Shareholder funds
77,672
87,740
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2025 , and are signed on behalf of the board by:
S Edmonds
Director
Company registration number: NI060671
Lissan Trading Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is c/o Flannigan Edmonds Bannon, Linenhall Exchange, 26 Linenhall Street, Belfast, BT2 8BG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
20% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
166,750
---------
Amortisation
At 1 October 2023
66,700
Charge for the year
8,338
---------
At 30 September 2024
75,038
---------
Carrying amount
At 30 September 2024
91,712
---------
At 30 September 2023
100,050
---------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
14,688
20,664
35,352
--------
--------
--------
Depreciation
At 1 October 2023
14,161
17,764
31,925
Charge for the year
305
2,155
2,460
--------
--------
--------
At 30 September 2024
14,466
19,919
34,385
--------
--------
--------
Carrying amount
At 30 September 2024
222
745
967
--------
--------
--------
At 30 September 2023
527
2,900
3,427
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
4,221
3,595
Other debtors
461
-------
-------
4,221
4,056
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,322
2,654
Trade creditors
7,719
10,367
Social security and other taxes
3,091
2,928
Other creditors
6,854
8,841
--------
--------
24,986
24,790
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,892
16,613
--------
--------
10. Provisions
Deferred tax
User defined class 1
Total
£
£
£
At 1 October 2023
1,120
154
1,274
Charge against provision
( 154)
( 154)
-------
----
-------
At 30 September 2024
1,120
1,120
-------
----
-------
11. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
12. Director's advances, credits and guarantees
During the year, the director received net loans of £1,987 (2023: £41) from the company. At the year end £635 (2023: £2,622) remained outstanding to the director from the company. These loans are interest free and repayable on demand.
13. Related party transactions
The company was under the control of Susan Edmonds throughout the current and previous year. Susan Edmonds is the sole director and shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.