REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 January 2023 |
for |
LIONRULE LIMITED |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 January 2023 |
for |
LIONRULE LIMITED |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LIONRULE LIMITED |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 North End Road |
London |
NW11 7RJ |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
Balance Sheet |
31 January 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
Balance Sheet - continued |
31 January 2023 |
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 |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Lionrule Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 rents received. |
Tangible fixed assets |
Office & computer equipment | - |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Office & | Fixtures |
computer | and |
equipment | fittings | Totals |
£ | £ | £ |
COST |
At 1 February 2022 |
and 31 January 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2022 |
Additions |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
The above is the directors valuation at open market value at 31 January 2023. |
Historical costs of properties at 31 January 2023 were £10,794,220 (2022: £10,4740,265). There was £NIL capital commitment at the year end (2022: £NIL). |
Fair value at 31 January 2023 is represented by: |
£ |
Valuation in 2005 | 12,085,336 |
Valuation in 2016 | 3,028,099 |
Cost | 10,794,220 |
25,907,655 |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Amounts due from group undertakings |
Other debtors |
Rental debtor |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans and overdrafts |
Tax |
Social security and other taxes |
Other Creditors |
Rent rec'd in advance | 63,344 | 58,327 |
Accrued expenses |
Bank loans and overdrafts are secured on the company's assets. |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans > 5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans > 5 years | 14,173,906 | 14,183,551 |
Bank loans are secured on the company's assets. |
9. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 February 2022 | 20,162,701 |
Deficit for the year | ( |
) | - | ( |
) |
Deferred tax | 739,044 | (739,044 | ) | - |
At 31 January 2023 | 19,403,000 |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
10. | RELATED PARTY DISCLOSURES |
Amounts due from other debtors include a loan due from Ramsey Properties Limited amounting to £4,440,829 (2022: £4,404,679). Mr Morgenstern & Mr Sheinfeld are directors of Ramsey Properties Limited and each own 50% of the shares. |
Amounts due to other debtors include a loan due from Clevermatch Limited amounting to £43,358 (2022: due to £172,569).Mr Sheinfeld is the director and majority shareholder of Clevermatch Limited. |
Amounts due to other creditors includes a loan due to Rigband Security Limited amounting to £376,833 (2022: £375,464). Mr Sheinfeld is the director and majority shareholder of Rigband Security Limited. |
Amounts due to other creditors include a loan due to Lionrule Investments Limited amounting to £314,858 (2022: £200,502). Mr Morgenstern & Mr Sheinfeld are directors of Lionrule Investments Limited and each own 25% of the shares in this company. |
11. | CONTROLLING PARTY |
The company is controlled by Lionrule Holdings Limited. |
12. | SECURED DEBT |
Creditors include the following secured debts: |
Due within one year £990,063 (2022: £989,366). |
Due after more than one year £14,173,906 (2022: £14,183,551). |