Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31truefalse12021-10-29No description of principal activity0truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13712875 2021-10-28 13712875 2021-10-29 2023-03-31 13712875 2020-10-29 2021-10-28 13712875 2023-03-31 13712875 c:Director1 2021-10-29 2023-03-31 13712875 d:MotorVehicles 2021-10-29 2023-03-31 13712875 d:MotorVehicles 2023-03-31 13712875 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-10-29 2023-03-31 13712875 d:CurrentFinancialInstruments 2023-03-31 13712875 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13712875 d:ShareCapital 2021-10-29 2023-03-31 13712875 d:ShareCapital 2023-03-31 13712875 d:RetainedEarningsAccumulatedLosses 2021-10-29 2023-03-31 13712875 d:RetainedEarningsAccumulatedLosses 2023-03-31 13712875 c:OrdinaryShareClass1 2021-10-29 2023-03-31 13712875 c:OrdinaryShareClass1 2023-03-31 13712875 c:FRS102 2021-10-29 2023-03-31 13712875 c:AuditExempt-NoAccountantsReport 2021-10-29 2023-03-31 13712875 c:FullAccounts 2021-10-29 2023-03-31 13712875 c:PrivateLimitedCompanyLtd 2021-10-29 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 13712875












LION OAR LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023


 
REGISTERED NUMBER:13712875
LION OAR LIMITED

BALANCE SHEET
AS AT 31 MARCH 2023

Period ended
31 March 2023
Note
£

Fixed assets
  

Tangible assets
 4 
46,089

  
46,089

Current assets
  

Stocks
  
274,856

Debtors: amounts falling due within one year
 5 
2,016

Cash at bank and in hand
  
2,864

  
279,736

Creditors: amounts falling due within one year
 6 
(304,597)

Net current (liabilities)
  
 
 
(24,861)

Total assets less current liabilities
  
21,228

  

Net assets
  
21,228


Capital and reserves
  

Called up share capital 
 7 
1

Profit and loss account
  
21,227

Total equity
  
21,228


Page 1


 
REGISTERED NUMBER:13712875
LION OAR LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 period 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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, authorised for issue and signed by the sole director: 



R P E Martin
Director

Date: 17 October 2023

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 

LION OAR LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£



Profit for the period
-
21,227
21,227
Total comprehensive income for the period
-
21,227
21,227


Contributions by and distributions to owners

Shares issued during the period
1
-
1


At 31 March 2023
1
21,227
21,228

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 

LION OAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Lion Oar Limited is a private company limited by shares incorporated in England and Wales.
The address of its registered office is 8 Chiddingstone Street, London, England, SW6 3TG.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue represents rent receivable and proceeds from the sale of land and buildings. Revenue from the proceeds of land and buildings is recognised when there has been an unconditional exchange of contracts. Revenue representing rent receivable is recognised on an accruals basis when the company is contractually entitled to the income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 

LION OAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.


2.7

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors and cash and bank balances, are  recognised at transaction price.

Financial liabilities

Basic financial liabilities, including trade and other creditors, are recognised at transaction price.

Page 5

 

LION OAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.


3.


Employees

The average monthly number of employees, including the director, during the period was 1.

Page 6

 

LION OAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Tangible fixed assets





Motor vehicle

£



Cost


Additions
46,990



At 31 March 2023

46,990



Depreciation


Charge for the period
901



At 31 March 2023

901



Net book value



At 31 March 2023
46,089


5.


Debtors

Period ended
31 March 2023
£


Prepayments
2,016

2,016



6.


Creditors: Amounts falling due within one year

Period ended
31 March 2023
£

Other creditors
297,764

Accruals and deferred income
6,833

304,597


Page 7

 

LION OAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

7.


Share capital

Period ended
31 March 2023
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1


On incorporation, the company issued 1 ordinary share in order to establish the capital structure of
the company.


8.


Related party transactions

At the balance sheet date, within other creditors is an amount of £297,764 owed to the company's director. The loan is provided interest free. There are no formal terms and conditions regarding repayment of the loans.

 
Page 8