Company No: 13980740 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Spence Matthew Clunie

REGISTERED OFFICE	1 Fore Street Avenue
	C/O Praxis
	London
	EC2Y 9DT
	United Kingdom

COMPANY NUMBER

13980740 (England and Wales)

ACCOUNTANT	Praxis
	1 Fore Street Avenue
	London
	EC2Y 9DT
	United Kingdom

	Note	2025		2024
		£		£
Fixed assets
Investments	3	517,256		0
		517,256		0
Current assets
Debtors	4	1,403,417		1
		1,403,417		1
Creditors: amounts falling due within one year	5	( 520,992)		0
Net current assets		882,425		1
Total assets less current liabilities		1,399,681		1
Net assets		1,399,681		1
Capital and reserves
Called-up share capital	6	1		1
Profit and loss account		1,399,680		0
Total shareholder's funds		1,399,681		1

For the financial 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.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Lacann Limited (registered number: 13980740) were approved and authorised for issue by the Director on 17 October 2025. They were signed on its behalf by:

Spence Matthew Clunie Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lacann Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Fore Street Avenue, C/O Praxis, London, EC2Y 9DT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	0		0

3. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 April 2024	0		0
Additions	517,256		517,256
At 31 March 2025	517,256		517,256
Carrying value at 31 March 2025	517,256		517,256
Carrying value at 31 March 2024	0		0

Other investments comprise listed investments at fair value and other investments at cost less impairment.

4. Debtors

	2025		2024
	£		£
Other debtors	1,403,417		1

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Taxation and social security	3,737		0
Other creditors	517,255		0
	520,992		0

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 (2024: nil shares)	1		0

7. Financial commitments

The Company had no material capital commitments at the year ended 31 March 2025.

8. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.