ACCOUNTS - Final Accounts

Registered number: NI614308

LOUGH SHORE TECHNOLOGIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

LOUGH SHORE TECHNOLOGIES LIMITED

CONTENTS

	Page
Balance Sheet	1 - 2
Notes to the Financial Statements	3 - 6

LOUGH SHORE TECHNOLOGIES LIMITED

REGISTERED NUMBER: NI614308

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	748		187
Current asset investments	5	754,825		749,825
Cash at bank and in hand	6	11,644		176
		767,217		750,188
Creditors: amounts falling due within one year	7	(3,368,012)		(3,069,712)
Net current liabilities			(2,600,795)		(2,319,524)
Total assets less current liabilities			(2,600,795)		(2,319,524)

Net liabilities			(2,600,795)		(2,319,524)

Capital and reserves
Called up share capital	9	950	950
Profit and loss account		(2,601,745)	(2,320,474)
		(2,600,795)	(2,319,524)

Page 1

LOUGH SHORE TECHNOLOGIES LIMITED

REGISTERED NUMBER: NI614308

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 by:

D Moore

Director

Date: 28 November 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

LOUGH SHORE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Lough Shore Technologies Limited is a private company, limited by shares, incorporated in Northern Ireland with registration number NI614308. The registered office address is 47a Botanic Avenue, Belfast, Co. Antrim, BT7 1JL.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company expects the continued support of the director, who has confirmed provision of such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period
of at least twelve months from the date of signing of the financial statement of the company.

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 Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

LOUGH SHORE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is comprised of income received from the trading of foreign currencies and CFDs (share options income) and on consultancy sales exclusive of value added tax.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

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 balance sheet date in the countries where the Company operates and generates income.

2.7

Valuation of current asset investments

The monies invested by the company are stated at market value including a fair value adjustment for any investments in an open position at the year end. The monies are invested in both CFD derivatives and foreign current contracts (Note 10).

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

LOUGH SHORE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

3.	Employees
	The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Debtors

					2024	2023
					£	£


Other debtors	548	-
Prepayments and accrued income	200	187
	748	187

5.	Current asset investments
		2024	2023
		£	£

Cash balance held	418,191	617,745
Financial assets carried at fair value	336,634	132,080
	754,825	749,825

6.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	11,644	176

Page 5

LOUGH SHORE TECHNOLOGIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	-	2,990
Amounts owed to associates	998,793	723,472
Other taxation and social security	41,772	22,354
Other creditors	2,299,896	2,299,896
Accruals and deferred income	27,551	21,000
	3,368,012	3,069,712

8.	Financial instruments
		2024	2023
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	11,644	176

Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

9.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

950 (2023 - 950) Ordinary shares of £1.00 each	950	950

10.	Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £513 (2023 - £513) were payable to the fund at the balance sheet date and are included in creditors.

11.	Related party transactions
	At the year end £70,793 (2023: £70,472) was owed to Lough Shore Limited, a company, of which D Moore is also a director and the ultimate controlling party. Additionally at the year end £928,000 (2023: £653,000) was owed to Lough Shore Investments LLP, an LLP in which the director is a designated member. These balances are included within amounts owed to associates.

Page 6