LNOF LIMITED


Directors	MAVIR, Matthew Miles William
	MAVIR, Suzanne, Dr


Registered Address	Statex House
	Saltmeadows Road
	Gateshead
	NE8 3AH


Registered Number	13742503 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Intangible assets	3		20,000		30,000
Investments	4		575,000		575,000
			595,000		605,000
Current assets
Debtors	5	164,414		144,000
Cash at bank and on hand		1,443		110,019
		165,857		254,019
Creditors amounts falling due within one year	6	(33,629)		(20,045)
Net current assets (liabilities)			132,228		233,974
Total assets less current liabilities			727,228		838,974
Net assets			727,228		838,974
Capital and reserves
Called up share capital			300		300
Share premium			499,900		499,900
Profit and loss account			227,028		338,774
Shareholders' funds			727,228		838,974

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 Directors acknowledge 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 financial statements were approved and authorised for issue by the Board of Directors on 26 September 2025, and are signed on its behalf by:

MAVIR, Matthew Miles William
Director
Registered Company No. 13742503

LNOF LIMITED

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.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Dividend income
	Dividend income is recognised when the right to receive payment is established.

	Current taxation
	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
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Amortisation
	Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of the IP Systems and Domain has been set at 5 years and the asset will be amortised on a straight line basis over that period.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	50,000	50,000
At 31 December 24	50,000	50,000
Amortisation and impairment
At 01 January 24	20,000	20,000
Charge for year	10,000	10,000
At 31 December 24	30,000	30,000
Net book value
At 31 December 24	20,000	20,000
At 31 December 23	30,000	30,000

4.	Fixed asset investments
	LNOF Limited acquired 65% of the shares in Honeypot House Ltd in 2022. The consideration paid was £75,000. LNOF Limited acquired 100% of the shares in Last Night Ltd in 2022. The consideration paid was £500,000.

	Other investments¹	Total
	£	£
Cost or valuation
At 01 January 24	575,000	575,000
At 31 December 24	575,000	575,000
Net book value
At 31 December 24	575,000	575,000
At 31 December 23	575,000	575,000

	Notes
	¹Other investments other than loans

5.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	145,065	144,000
Other debtors	19,349	-
Total	164,414	144,000

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	3,865	-
Taxation and social security	29,019	19,349
Accrued liabilities and deferred income	745	696
Total	33,629	20,045