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REGISTERED NUMBER: 07748367 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

LANNIC LIMITED

LANNIC LIMITED (REGISTERED NUMBER: 07748367)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LANNIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: G M Perrin





REGISTERED OFFICE: Charlton House
Dour Street
DOVER
Kent
CT16 1BL





REGISTERED NUMBER: 07748367 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Charlton House
Dour Street
DOVER
Kent
CT16 1BL

LANNIC LIMITED (REGISTERED NUMBER: 07748367)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 463,253 470,722

CURRENT ASSETS
Cash at bank - 36

CREDITORS
Amounts falling due within one year 5 123,186 122,027
NET CURRENT LIABILITIES (123,186 ) (121,991 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

340,067

348,731

PROVISIONS FOR LIABILITIES 6 46,164 41,269
NET ASSETS 293,903 307,462

CAPITAL AND RESERVES
Called up share capital 7 149,076 149,076
Fair value reserve 8 160,380 160,380
Retained earnings 8 (15,553 ) (1,994 )
SHAREHOLDERS' FUNDS 293,903 307,462

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 29 August 2025 and were signed by:





G M Perrin - Director


LANNIC LIMITED (REGISTERED NUMBER: 07748367)

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

1. STATUTORY INFORMATION

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

The financial statements are presented in sterling which is the functional currency of the company.

Tangible fixed assets
The company's freehold property is held for investment. Investment properties are included at fair value. Gains are recognised in the Fair Value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold and is charged to the Fair Value reserve.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

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

LANNIC LIMITED (REGISTERED NUMBER: 07748367)

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

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 September 2023 470,722
Exchange differences (7,469 )
At 31 August 2024 463,253
NET BOOK VALUE
At 31 August 2024 463,253
At 31 August 2023 470,722

Cost or valuation at 31 August 2024 is represented by:

FreeholdProperty
£   Euro
Valuation 295,592355,000
Cost167,661195,000
463,253550,000


If the freehold property had not been revalued it would have been included at the following historical cost £167,661.

The freehold property was valued on an open market basis on 31 August 2024 by the director.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Sundry creditors 728 1,095
Director's current account 122,458 120,932
123,186 122,027

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 46,164 41,269

Deferred
tax
£   
Balance at 1 September 2023 41,269
Movement in the year 4,895
Balance at 31 August 2024 46,164

The above provision is in respect of revaluation of the investment property.

LANNIC LIMITED (REGISTERED NUMBER: 07748367)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4
149,072 Redeemable Preference £1 149,072 149,072
149,076 149,076

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 September 2023 (1,994 ) 160,380 158,386
Deficit for the year (13,559 ) (13,559 )
At 31 August 2024 (15,553 ) 160,380 144,827

9. GOING CONCERN

The financial statements have been prepared on a going concern basis. This basis is considered to be appropriate as the company continues to receive the support of its director and shareholders.