Company registration number SC815376 (Scotland)
LSP LISBON (SCOTLAND) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
LSP LISBON (SCOTLAND) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 5
LSP LISBON (SCOTLAND) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr Jean-Marc Chapus
(Appointed 3 July 2024)
Mr Elliot Hayes
(Appointed 3 July 2024)
Secretary
Burness Paull LLP
Company number
SC815376
Registered office
50 Lothian Road
Festival Square
Edinburgh
Scotland
EH3 9WJ
Accountants
Dains Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
LSP LISBON (SCOTLAND) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 2 -
2025
Notes
€
€
Fixed assets
Investments
3
9,450,151
Current assets
Cash at bank and in hand
1,552,245
Creditors: amounts falling due within one year
4
(5,734)
Net current assets
1,546,511
Net assets
10,996,662
Capital and reserves
Called up share capital
5
11,533,537
Revaluation reserve
(285,991)
Profit and loss reserves
(250,884)
Total equity
10,996,662

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 July 2026 and are signed on its behalf by:
Mr Jean-Marc Chapus
Mr Elliot Hayes
Director
Director
Company Registration No. SC815376
LSP LISBON (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

LSP Lisbon (Scotland) Limited is a private company limited by shares incorporated in Scotland. The registered office is 50 Lothian Road, Festival Square, Edinburgh, Scotland, EH3 9WJ. The company's registration number is SC815376.

1.1
Reporting period

This was the company's first period of incorporation and the year end was extended to align with the calendar year.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in euros, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest €.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.3
Fixed asset investments

Fixed asset investments are initially measured at cost which comprises purchase price and any directly attributable expenditure, and subsequently remeasured to fair value at each reporting date with changes in fair value recognised in the profit and loss account.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LSP LISBON (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Foreign exchange

Transactions in currencies other than euros are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in the profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
Total
2
3
Fixed asset investments
2025
€
Listed investments
9,450,151
LSP LISBON (SCOTLAND) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Investments
€
Cost or valuation
At 3 July 2024
-
Additions
9,736,142
Valuation changes
(285,991)
At 31 December 2025
9,450,151
Carrying amount
At 31 December 2025
9,450,151
4
Creditors: amounts falling due within one year
2025
€
Other creditors
5,734
5
Called up share capital
2025
€
Ordinary share capital
Issued and fully paid
1 Ordinary A share of €1
1
440,000 Ordinary B shares of €1
440,000
6,706,937 Ordinary C shares of €1
6,706,937
2,494,599 Ordinary D shares of €1
2,494,599
1,892,000 Ordinary E shares of €1
1,892,000
11,533,537

On 3 July 2024, 1 Ordinary A share was issued at a par value of £1. On 1 May 2025, the share was redenominated from sterling to euro and the share value and increased to €1.17.
On 16 May 2025, 440,000 Ordinary B shares, 3,340,449 Ordinary C share, 1,475,169 Ordinary D shares and 1,892,000 Ordinary E shares were issued at a par value of €1.

6
Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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