Lisbon Associates Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025

1	General information

Lisbon Associates Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pounds (in previous years euros) because that is now the currency of the primary economic environment in which the company operates. The financial statements have always been presented in pound sterling (£).

Going concern

The financial statements have been prepared on a going concern basis. The company relies on the continued support of its creditors including substantial directors' loans. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Judgements

In the directors' opinion, there are no sources of estimation uncertainty which could materially affect the accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. When a long term project straddles the year end, the turnover and related cost of sales before the year end is included in the accounts.

Lisbon Associates Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025 (continued)

2	Accounting policies (continued)

Foreign currency transactions and balances

Transaction in other currencies are converted to sterling at the exchange rate prevailing on the date of the transaction. Euro figures in the profit and loss account are converted to sterling using the average exchange rate prevailing during the accounting period. Foreign currency assets and liabilities are translated to sterling at the balance sheet date with any foreign exchange gain or loss being taken to the profit and loss account.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible fixed assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible fixed assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment, fixtures and fittings	20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and bank balances.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Lisbon Associates Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025 (continued)

4	Tangible fixed assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 July 2024	10,859	10,859
At 30 June 2025	10,859	10,859
Depreciation
At 1 July 2024	7,099	7,099
Charge for the year	1,853	1,853
At 30 June 2025	8,952	8,952
Net Book Value
At 30 June 2025	1,907	1,907
At 30 June 2024	3,760	3,760

5

Debtors

	2025 £	2024 £
Trade receivables	2,379	-
Other debtors	14,782	7,884
	17,161	7,884

Lisbon Associates Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 June 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade payables		5,916	6,437
Social security and other taxes		1,209	1,568
Other payables		152,034	109,149
Accruals		4,031	3,263
Income tax liability		871	1,324
		164,061	121,741

7	Share capital and reserves

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2