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Company Registration No. 08083012 (England and Wales)
Lateral Channel Limited Unaudited accounts for the year ended 31 March 2025
Lateral Channel Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Lateral Channel Limited Company Information for the year ended 31 March 2025
Directors
Owen Modral Jane Modral
Company Number
08083012 (England and Wales)
Registered Office
1 Weald Dyke Shoreham-by-Sea West Sussex BN43 5LP England
- 3 -
Lateral Channel Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
587
462
Current assets
Debtors
5
40,221
31,684
Cash at bank and in hand
214,412
367,261
254,633
398,945
Creditors: amounts falling due within one year
6
81,023
(46,240)
Net current assets
335,656
352,705
Net assets
336,243
353,167
Capital and reserves
Called up share capital
10
10
Profit and loss account
336,233
353,157
Shareholders' funds
336,243
353,167
For the year ending 31 March 2025 the company was entitled to exemption from audit 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by
Owen Modral Director Company Registration No. 08083012
- 4 -
Lateral Channel Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Lateral Channel Limited is a private company, limited by shares, registered in England and Wales, registration number 08083012. The registered office is 1 Weald Dyke, Shoreham-by-Sea, West Sussex, BN43 5LP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value of services, net of discounts, provided to customers.
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 at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.3% per annum straight line
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
- 5 -
Lateral Channel Limited Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Computer equipment
£
Cost or valuation
At cost
At 1 April 2024
8,422
Additions
881
At 31 March 2025
9,303
Depreciation
At 1 April 2024
7,960
Charge for the year
756
At 31 March 2025
8,716
Net book value
At 31 March 2025
587
At 31 March 2024
462
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
39,163
30,700
Other debtors
1,058
984
40,221
31,684
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
4,066
Taxes and social security
6,775
35,528
Other creditors
1,575
1,550
Loans from directors
(89,373)
5,096
(81,023)
46,240
7
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Owen Modral
Overdrawn Director loan
(2,548)
47,235
-
44,687
Jane Modral
Overdrawn Director Loan
(2,548)
47,234
-
44,686
(5,096)
94,469
-
89,373
The related party transaction relates to an overdrawn directors loan balance. Interest was charged on this loan when necessary was repaid within 9 months of the year end
- 6 -
Lateral Channel Limited Notes to the Accounts for the year ended 31 March 2025
8
Average number of employees
During the year the average number of employees was 0 (2024: 0).
- 7 -