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REGISTERED NUMBER: 00383131 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

LYONS BROTHERS (U.K) LIMITED

LYONS BROTHERS (U.K) LIMITED (REGISTERED NUMBER: 00383131)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LYONS BROTHERS (U.K) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: R Lyons
J Lyons
B J Lyons





SECRETARY: J Lyons





REGISTERED OFFICE: 34-40 High Street
Wanstead
London
E11 2RJ





REGISTERED NUMBER: 00383131 (England and Wales)





ACCOUNTANTS: THP Limited
Chartered Accountants
34-40 High Street
Wanstead
London
E11 2RJ

LYONS BROTHERS (U.K) LIMITED (REGISTERED NUMBER: 00383131)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 51 51
Freehold investment properties 5 1,748,132 2,100,000
1,748,183 2,100,051

CURRENT ASSETS
Debtors 6 5,416 157,653
Cash at bank 345,924 47,569
351,340 205,222
CREDITORS
Amounts falling due within one year 7 191,047 96,016
NET CURRENT ASSETS 160,293 109,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,908,476

2,209,257

PROVISIONS FOR LIABILITIES 107,824 222,775
NET ASSETS 1,800,652 1,986,482

CAPITAL AND RESERVES
Called up share capital 8,002 8,002
Revaluation reserve 8 838,995 1,782,723
Retained earnings 953,655 195,757
SHAREHOLDERS' FUNDS 1,800,652 1,986,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 5 March 2024 and were signed on its behalf by:





R Lyons - Director


LYONS BROTHERS (U.K) LIMITED (REGISTERED NUMBER: 00383131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Lyons Brothers (U.K) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Lyons Brothers (U.K) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Revenue recognition
Revenue represents rents receivable on the company's investment properties.

Revenue is recognised in the accounting period to which the rents relate to.

Investment properties
Freehold Investment Properties are shown at fair values. Any aggregate surplus or deficit that arises from a change in fair value is recognised in the income statement, net of deferred tax. On an annual basis this surplus or deficit is transferred from retained profits into a separate, non-distributable reserve called the "Revaluation Reserve".

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

LYONS BROTHERS (U.K) LIMITED (REGISTERED NUMBER: 00383131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 October 2022
and 30 September 2023 51
NET BOOK VALUE
At 30 September 2023 51
At 30 September 2022 51

5. FREEHOLD INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 October 2022 2,100,000
Additions 748,132
Disposals (1,100,000 )
At 30 September 2023 1,748,132
NET BOOK VALUE
At 30 September 2023 1,748,132
At 30 September 2022 2,100,000

The value of freehold investment properties was reassessed by the directors on 30 September 2023 on the basis of fair values. The directors consider the current values of the freehold investment properties to represent the market value.

Fair value at 30 September 2023 is represented by:
£   
Valuation in 1996 898,854
Valuation in 2002 (170,679 )
Valuation in 2007 48,400
Valuation in 2009 21,462
Valuation in 2010 (136,262 )
Valuation in 2019 1,617,514
Valuation in 2022 (273,792 )
Valuation in 2023 (1,058,679 )
Cost 801,314
1,748,132

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,705 1,000
Amounts owed by subsidiary undertaking 375,885 241,581
Provision against amount owed
by subsidiary undertaking (375,885 ) (241,581 )
Directors' loan accounts - 153,316
Prepayments and accrued income 1,711 3,337
5,416 157,653

LYONS BROTHERS (U.K) LIMITED (REGISTERED NUMBER: 00383131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 199 2,929
Corporation tax 155,146 27,184
Social security and other taxes 1,905 1,531
Rent deposits 7,833 4,500
Directors' loan accounts 20,929 -
Accrued expenses 5,035 59,872
191,047 96,016

8. RESERVES
Revaluation
reserve
£   
At 1 October 2022 1,782,723
Transfer revaluation surplus (1,058,679 )
Deferred tax on revaluation 114,951

At 30 September 2023 838,995

9. CONTINGENT LIABILITIES

The company has given an unlimited guarantee for the bank overdraft of its subsidiary company Epping Motor & Marine Group Limited.

At the year end, the subsidiary company had an overdraft balance of £7,780 (2022: £5,092).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
R Lyons and J Lyons
Balance outstanding at start of year 153,316 -
Amounts advanced - 272,599
Amounts repaid (153,316 ) (119,283 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 153,316

Interest was charged on directors' loan at HMRC official rate of 2%. The loan was repaid in January 2023.

11. RELATED PARTY DISCLOSURES

Included in creditors is a balance of £20,929 (2022: £nil) owed to the directors of the company. This loan is interest free and repayable on demand.

During the year, the company has increased the provision for doubtful debts by £134,304 (2022: £54,865) against the amounts due from its subsidiary Epping Motor & Marine Group Limited.