1 April 2025 v2026.16.1 limited_company_frs_102_section_1a_v1_1_3 companies_house Software false true true true No description of principal activity false true xbrli:pure xbrli:shares iso4217:GBP SC446041 2025-04-01 2026-03-31 SC446041 2026-03-31 SC446041 2025-03-31 SC446041 core:WithinOneYear 2026-03-31 SC446041 core:WithinOneYear 2025-03-31 SC446041 core:AfterOneYear 2026-03-31 SC446041 core:AfterOneYear 2025-03-31 SC446041 core:RetainedEarningsAccumulatedLosses 2026-03-31 SC446041 core:RetainedEarningsAccumulatedLosses 2025-03-31 SC446041 bus:Director1 2025-04-01 2026-03-31 SC446041 bus:RegisteredOffice 2025-04-01 2026-03-31 SC446041 2024-04-01 2025-03-31 SC446041 core:CostValuation 2025-04-01 SC446041 core:AdditionsToInvestments 2026-03-31 SC446041 core:CostValuation 2026-03-31 SC446041 core:ProvisionsForImpairmentInvestments 2026-03-31 SC446041 1 2025-04-01 2026-03-31 SC446041 countries:Scotland 2025-04-01 2026-03-31 SC446041 bus:AuditExemptWithAccountantsReport 2025-04-01 2026-03-31 SC446041 bus:CompanyLimitedByGuarantee 2025-04-01 2026-03-31 SC446041 bus:SmallEntities 2025-04-01 2026-03-31 SC446041 bus:FullAccounts 2025-04-01 2026-03-31
Company registration number:
SC446041
LSIP Limited
Company limited by guarantee
Unaudited Filleted Financial Statements for the year ended
31 March 2026
Thomson Financial Limited
Millars House, 41a Gray Street, Dundee, Tayside, DD5 2BJ, United Kingdom
LSIP Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of LSIP Limited
Year ended
31 March 2026
As described on the statement of financial position, the Board of Directors of
LSIP Limited
are responsible for the preparation of the
financial statements
for the year ended
31 March 2026
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Thomson Financial Limited
Millars House
41a Gray Street
Dundee
Tayside
DD5 2BJ
United Kingdom
LSIP Limited
Statement of Financial Position
31 March 2026

|  | 2026 | 2025
--- | --- | --- | ---
| Note | £ | £
Fixed assets |  |  |  |  |
Investments | 6 | 89,035 |  | 75,285 |
Current assets |  |  |  |  |
Debtors | 7 | 13,006 |  | 31,261 |
Cash at bank and in hand |  | - |  | 615 |
|  | 13,006 |  | 31,876 |
Creditors: amounts falling due within one year | 8 | (36,577 | ) | (29,864 | )
Net current (liabilities)/assets |  | (23,571 | ) | 2,012 |
Total assets less current liabilities |  | 65,464 |  | 77,297 |
Creditors: amounts falling due after more than one year | 9 | (1,333 | ) | (5,333 | )
Net assets |  | 64,131 |  | 71,964 |
Capital and reserves |  |  |  |  |
Profit and loss account |  | 64,131 |  | 71,964 |
Members funds |  | 64,131 |  | 71,964 |

For the year ending
31 March 2026
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
1 May 2026
, and are signed on behalf of the board by:

J Carnegie
Director

Company registration number:
SC446041
LSIP Limited
Notes to the Financial Statements
Year ended
31 March 2026

## 1 General information

The company is a private company limited by guarantee and is registered in Scotland. The address of the registered office is
Millars House 41a Gray Street
,
Broughty Ferry
,
Dundee
,
DD5 2BJ
, Scotland.

## 2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

## 3 Accounting policies

## Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

## Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

## Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

## Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

## Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

## Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

## 4 Limited by guarantee

The company has no share capital but is limited by guarantee.

## 5 Average number of employees

The average number of persons employed by the company during the year was
1
(2025:
1.00
).

## 6 Investments

| Other investments other than loans
--- | ---
| £
Cost |  |
At 1 April 2025 | 86,198 |
Additions | 13,750 |
At 31 March 2026 | 99,948 |
Impairment |  |
At 1 April 2025 and 31 March 2026 | 10,913 |
Carrying amount |  |
At 31 March 2026 | 89,035 |
At 31 March 2025 | 75,285 |

## 7 Debtors

| 2026 | 2025
--- | --- | ---
| £ | £
Trade debtors | 13,006 |  | 24,130 |
Other debtors | - |  | 7,131 |
| 13,006 |  | 31,261 |

## 8 Creditors: amounts falling due within one year

| 2026 | 2025
--- | --- | ---
| £ | £
Bank loans and overdrafts | 536 |  | - |
Trade creditors | 23,960 |  | 15,012 |
Taxation and social security | 8,823 |  | 8,971 |
Other creditors | 3,258 |  | 5,881 |
| 36,577 |  | 29,864 |

## 9 Creditors: amounts falling due after more than one year

| 2026 | 2025
--- | --- | ---
| £ | £
Bank loans and overdrafts | 1,333 |  | 5,333 |

## 10 Related party transactions

The company was under the control of the members throughout the current and previous year.