0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 614,833 245,136 108,258 477,955 477,955 614,833 xbrli:pure xbrli:shares iso4217:GBP 07262305 2023-06-01 2024-05-31 07262305 2024-05-31 07262305 2023-05-31 07262305 2022-06-01 2023-05-31 07262305 2023-05-31 07262305 2022-05-31 07262305 bus:Director1 2023-06-01 2024-05-31 07262305 core:WithinOneYear 2024-05-31 07262305 core:WithinOneYear 2023-05-31 07262305 core:ShareCapital 2024-05-31 07262305 core:ShareCapital 2023-05-31 07262305 core:RetainedEarningsAccumulatedLosses 2024-05-31 07262305 core:RetainedEarningsAccumulatedLosses 2023-05-31 07262305 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 07262305 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-05-31 07262305 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-05-31 07262305 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 07262305 core:Non-currentFinancialInstruments 2024-05-31 07262305 core:Non-currentFinancialInstruments 2023-05-31 07262305 bus:SmallEntities 2023-06-01 2024-05-31 07262305 bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 07262305 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 07262305 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 07262305 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 07262305
Lion Court Enterprises Limited
Filleted Unaudited Financial Statements
31 May 2024
Lion Court Enterprises Limited
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
477,955
614,833
Current assets
Cash at bank and in hand
168,210
Creditors: amounts falling due within one year
5
123,494
230,084
---------
---------
Net current assets/(liabilities)
44,716
( 230,084)
---------
---------
Total assets less current liabilities
522,671
384,749
---------
---------
Net assets
522,671
384,749
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
522,670
384,748
---------
---------
Shareholders funds
522,671
384,749
---------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 June 2024 , and are signed on behalf of the board by:
I G A Hunter
Director
Company registration number: 07262305
Lion Court Enterprises Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents income earned on investments held. Dividends are recognised in the period in which they are received.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Investments
Other investments other than loans
£
Valuation
At 1 June 2023
614,833
Disposals
( 245,136)
Revaluations
108,258
---------
At 31 May 2024
477,955
---------
Impairment
At 1 June 2023 and 31 May 2024
---------
Carrying amount
At 31 May 2024
477,955
---------
At 31 May 2023
614,833
---------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
123,494
230,084
---------
---------
6. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
477,955
614,833
---------
---------
7. Prior period errors
The prior period error corrects the investment position
8. Director's advances, credits and guarantees
At the year end, the company owed £122,114 (2023: £228,704) to I G A Hunter . The loan is on interest free terms and is repayable on demand.
9. Controlling party
The company was under the control of I G A Hunter throughout the current period. I G A Hunter is the sole director and shareholder.