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REGISTERED NUMBER: SC498428 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2021

for

Lion Safety Limited

Lion Safety Limited (Registered number: SC498428)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


Lion Safety Limited (Registered number: SC498428)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £   
FIXED ASSETS
Tangible assets 4 185,785 85,404

CURRENT ASSETS
Stocks 538,623 838,512
Debtors 5 1,396,352 1,177,674
Cash at bank and in hand 1,278,357 982,887
3,213,332 2,999,073
CREDITORS
Amounts falling due within one year 6 (1,910,656 ) (2,117,674 )
NET CURRENT ASSETS 1,302,676 881,399
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,488,461

966,803

CREDITORS
Amounts falling due after more than one
year

7

(8,001

)

(22,195

)

PROVISIONS FOR LIABILITIES (16,283 ) -
NET ASSETS 1,464,177 944,608

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,414,177 894,608
SHAREHOLDERS' FUNDS 1,464,177 944,608

Lion Safety Limited (Registered number: SC498428)

Balance Sheet - continued
31 December 2021


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:





Mr R Lewis - Director


Lion Safety Limited (Registered number: SC498428)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Lion Safety Limited is a private company, limited by shares, domiciled in Scotland, registration number SC498428. The registered office is Unit 5, Gateway Business Park, Beancross Road, Grangemouth, FK3 8WX.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods in respect of safety equipment, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Lion Safety Limited (Registered number: SC498428)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2020 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 127,693
Additions 146,767
Disposals (1,744 )
At 31 December 2021 272,716
DEPRECIATION
At 1 January 2021 42,289
Charge for year 45,268
Eliminated on disposal (626 )
At 31 December 2021 86,931
NET BOOK VALUE
At 31 December 2021 185,785
At 31 December 2020 85,404

Lion Safety Limited (Registered number: SC498428)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2021
and 31 December 2021 67,674
DEPRECIATION
At 1 January 2021 28,769
Charge for year 15,057
At 31 December 2021 43,826
NET BOOK VALUE
At 31 December 2021 23,848
At 31 December 2020 38,905

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 1,228,638 1,049,519
Amounts owed by related parties 85,000 85,000
Other debtors 82,714 43,155
1,396,352 1,177,674

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Hire purchase contracts 14,194 17,808
Trade creditors 652,300 599,751
Amounts owed to group undertakings 500,010 -
Taxation and social security 315,417 928,446
Other creditors 428,735 571,669
1,910,656 2,117,674

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.21 31.12.20
£    £   
Hire purchase contracts 8,001 22,195

Lion Safety Limited (Registered number: SC498428)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Hire purchase contracts 22,195 40,003

Hire purchase contracts are secured on the assets to which they relate.

9. RELATED PARTY DISCLOSURES

Auriel Limited
Common director
Amounts due from related party - £85,000 (2020: £85,000)