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Registered number: 12984267 LISROYAN EUROPE LIMITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LISROYAN EUROPE LIMITED
CONTENTS
| Page
Statement of Financial Position | 1
Notes to the Financial Statements | 2 - 4
LISROYAN EUROPE LIMITED REGISTERED NUMBER:12984267
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 4 | - |  | 65,251 |
Bank and cash balances |  | 41,037 |  | 34,701 |
|  |  | 41,037 |  | 99,952
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 5 |  | (16,762) |  | (32,884)
Net current assets |  |  | 24,275 |  | 67,068
Net assets |  |  | 24,275 |  | 67,068
Capital and reserves |  |  |  |  |
Called up share capital | 6 |  | 1 |  | 1
Profit and loss account |  |  | 24,274 |  | 67,067
|  |  | 24,275 |  | 67,068
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 September 2025.
N C Ferguson
Director
The notes on pages 2 to 4 form part of these financial statements. Page 1
LISROYAN EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Lisroyan Europe Limited is a limited liability company registered in England and Wales. Its registered office address is at 48 Pall Mall, London, SW1Y 5JG The principal activity of the Company during the year was that of selling apparel. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The Company ceased trading in the previous year and is therefore no longer considered a going concern. Accordingly, the financial statements have been prepared on a break-up basis. This basis of preparation reflects the directors’ intention to realise assets and settle liabilities in the normal course of winding up the Company’s affairs. As a result, assets have been stated at their recoverable amounts and liabilities at the amounts expected to be settled.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'. Page 2
LISROYAN EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Turnover
Turnover comprises revenue recognised by the Company in respect of goods sold in the year exclusive of trade discounts and excluding value added tax. Turnover is recognised when the Company has transferred the significant risks and rewards of ownership to the buyer.
| 2.5 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.6 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income.
| 2.7 | Basic financial instruments
The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. The current and non-current classifications in the balance sheet are based on underlying agreements between the counterparties. Interest bearing borrowings, such as bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method. Cash and cash equivalents comprise cash balances and call deposits.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
4. | Debtors
Page 3
LISROYAN EUROPE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | - | 65,251
5. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 1,763 | 886
| Accruals and deferred income | 14,999 | 31,998
|  | 16,762 | 32,884
6. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1 (2023 - 1) Ordinary share of £1 | 1 | 1
7. | Related party transactions
| The Company forms part of a wholly owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.
8. | Controlling party
The parent company is Lisroyan Group Holdings LLC, a company registered in Delaware, USA.
9. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 1 September 2025 by Sean Brennan FCCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.
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