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Registered Number: 10000641
England and Wales

 

 

 

LIONS LOGISTICS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 33,644    33,644 
Tangible fixed assets 4 3,102,755    1,800,000 
3,136,399    1,833,644 
Current assets      
Stocks 40,000    15,000 
Debtors 1,042,679    733,242 
Cash at bank and in hand 120,746    65,660 
1,203,425    813,902 
Creditors: amount falling due within one year (1,579,584)   (1,099,658)
Net current liabilities (376,159)   (285,756)
 
Total assets less current liabilities 2,760,240    1,547,888 
Creditors: amount falling due after more than one year (2,033,004)   (962,991)
Net assets 727,236    584,897 
 

Capital and reserves
     
Called up share capital 400    400 
Reserves 5 89,414    89,414 
Profit and loss account 637,422    495,083 
Shareholder's funds 727,236    584,897 
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 January 2024 and were signed on its behalf by:


-------------------------------
TOOR Jaspreet Singh
Director
1
General Information
LIONS LOGISTICS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10000641, registration address Unit 24 Erdington Industrial Park, Chester Road, Birmingham, B24 0RD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added
tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such
that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by
reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs
incurred for work performed to date to the total estimated contract costs.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the Profit and Loss Account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the Profit and Loss Account as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
Research and development expenditure is charged to the Profit and Loss Account in the period in which it is incurred.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery - 20% on the reducing balance

Plant and Machinery 20% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 22 (2022 : 17).
3.

Intangible fixed assets

Cost Software License   Total
  £   £
At 01 April 2022  
Additions 33,644    33,644 
Disposals  
At 31 March 2023 33,644    33,644 
Amortisation
At 01 April 2022  
Charge for year  
On disposals  
At 31 March 2023  
Net book values
At 31 March 2023 33,644    33,644 
At 31 March 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 April 2022 1,907,837      1,907,837 
Additions 1,385,617    13,741    1,399,358 
Disposals    
At 31 March 2023 3,293,454    13,741    3,307,195 
Depreciation
At 01 April 2022 107,837      107,837 
Charge for year 94,281    2,322    96,603 
On disposals    
At 31 March 2023 202,118    2,322    204,440 
Net book values
Closing balance as at 31 March 2023 3,091,336    11,419    3,102,755 
Opening balance as at 01 April 2022 1,800,000      1,800,000 


2