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Registration number: 02603763

Lizan Investments Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Lizan Investments Limited

(Registration number: 02603763)

Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

2,092,329

1,828,534

Current assets

 

Debtors

5

8,181

30,318

Cash at bank and in hand

 

232,397

395,455

 

240,578

425,773

Creditors: Amounts falling due within one year

6

(1,023,501)

(1,004,931)

Net current liabilities

 

(782,923)

(579,158)

Net assets

 

1,309,406

1,249,376

Capital and reserves

 

Called up share capital

96

96

Retained earnings

1,309,310

1,249,280

Shareholders' funds

 

1,309,406

1,249,376

For the financial year ending 31 December 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 21 August 2025
 

.........................................

J K Dashper

Director

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

Accounting policies

Statutory information

Lizan Investments Limited is a private company, limited by shares, domiciled in England and Wales, company number 02603763. The registered office is at The Grange, Todwick Grange, Worksop Road, Sheffield, S26 1JQ.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Motor vehicles

25% straight line

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

1

Accounting policies (continued)

Investment property

Investment properties are initially recognised at purchase price plus any directly attributable costs. Measurement after initial recognition should be at fair value if that value can be measured reliably without undue cost or effort. Changes in fair value are recognised in the accumulated profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

3

Tangible assets

Investment properties
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

1,827,987

49,604

1,877,591

Additions

263,973

-

263,973

At 31 December 2024

2,091,960

49,604

2,141,564

Depreciation

At 1 January 2024

-

49,057

49,057

Charge for the year

-

178

178

At 31 December 2024

-

49,235

49,235

Carrying amount

At 31 December 2024

2,091,960

369

2,092,329

At 31 December 2023

1,827,987

547

1,828,534

4

Investment properties

The investment properties class of fixed assets were revalued by the directors on 31 December 2024. The basis of this valuation was existing use basis. This class of assets has a current value of £2,091,960 (2023: £1,827,987) and a carrying amount at historical cost of £2,449,232 (2023: £2,185,259). The depreciation on this historical cost is £Nil (2023: £Nil).

 

Lizan Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Debtors

2024
£

2023
£

Prepayments

-

5,445

Other debtors

8,181

24,873

 

8,181

30,318

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

62

46,403

Taxation and social security

18,754

1,216

Accruals and deferred income

59,685

12,312

Director's current account

650,000

650,000

Other creditors

295,000

295,000

1,023,501

1,004,931

7

Related party transactions

The director's current account of £650,000 (2023: £650,000) is interest free. The other creditors of £295,000 (2023: £295,000) are loans from Mr and Mrs Dashper and are also interest free.