LATERALIZE LTD


Director	PATEL, Mayank


Registered Address	Unit 1 The Ajm Centre
	Prospect Business Park
	Swanage
	BH19 1FE


Place of Business


Registered Number	11043570 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		800		800
			800		800
Current assets
Debtors		51,233		50,672
Cash at bank and on hand		6,947		31,831
		58,180		82,503
Creditors amounts falling due within one year		(108,392)		(75,905)
Net current assets (liabilities)			(50,212)		6,598
Total assets less current liabilities			(49,412)		7,398
Creditors amounts falling due after one year			(45,767)		(46,447)
Net assets			(95,179)		(39,049)
Capital and reserves
Called up share capital			100		100
Share premium			149,970		149,970
Profit and loss account			(245,249)		(189,119)
Shareholders' funds			(95,179)		(39,049)

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 16 September 2025, and are signed on its behalf by:

PATEL, Mayank
Director
Registered Company No. 11043570

LATERALIZE LTD

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Album and recording project licences The company holds licence rights for the following album and recording projects: Back from the Brink British Standard Time Live in London Please Do Not Ignore the Mermaid Songs for the Late Hours The Heart Wants The Last Bohemians The Path of a Tear The Still Point of the Turning World Weathering the Storm When Winter Turns to Spring The Path Of A Tear The company recognises the expenditure necessary to produce the licence recordings as an expense through the profit and loss account. Whilst some economic benefit from the assets is probable over the fifteen-year licence period, there is no reliable way of measuring or estimating the benefit and therefore the licences are not recognised as a company asset.

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Album and recording project licences

The company holds licence rights for the following album and recording projects:

Back from the Brink
British Standard Time
Live in London
Please Do Not Ignore the Mermaid
Songs for the Late Hours
The Heart Wants
The Last Bohemians
The Path of a Tear
The Still Point of the Turning World
Weathering the Storm
When Winter Turns to Spring
The Path Of A Tear

The company recognises the expenditure necessary to produce the licence recordings as an expense
through the profit and loss account. Whilst some economic benefit from the assets is probable over
the fifteen-year licence period, there is no reliable way of measuring or estimating the benefit and
therefore the licences are not recognised as a company asset.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	0		0

3.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 January 24	800
	At 31 December 24	800
	Net book value
	At 31 December 24	800
	At 31 December 23	800

4.	Stocks