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REGISTERED NUMBER: 11345477 (England and Wales)















LIONHEART PROPERTY PARTNERSHIP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2023






LIONHEART PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 11345477)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIONHEART PROPERTY PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J P Cooper
I A Richardson





REGISTERED OFFICE: Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU





REGISTERED NUMBER: 11345477 (England and Wales)






LIONHEART PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 11345477)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 715,000 715,000

CURRENT ASSETS
Debtors 5 64,715 34,859
Cash at bank and in hand 171 52
64,886 34,911
CREDITORS
Amounts falling due within one year 6 435,382 382,725
NET CURRENT LIABILITIES (370,496 ) (347,814 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

344,504

367,186

CREDITORS
Amounts falling due after more than one
year

7

(255,559

)

(281,559

)

PROVISIONS FOR LIABILITIES (10,791 ) (8,201 )
NET ASSETS 78,154 77,426

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserves 8 32,373 34,963
Retained earnings 8 45,681 42,363
78,154 77,426

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

LIONHEART PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 11345477)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 15 August 2024 and were signed on its behalf by:





J P Cooper - Director


LIONHEART PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 11345477)

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


1. STATUTORY INFORMATION

Lionheart Property Partnership 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Investment properties
Investment properties are included at fair value. Gains are recognised in the Statement of Income and Retained Earnings. The revaluation s subsequently reallocated to a fair value reserve.

Going concern
At the balance sheet date the company had net current liabilities of £370,496 (2022: £347,814). With the continued support of the directors and associated companies the financial statements have been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

LIONHEART PROPERTY PARTNERSHIP LIMITED (REGISTERED NUMBER: 11345477)

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


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 715,000
NET BOOK VALUE
At 30 November 2023 715,000
At 30 November 2022 715,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,077 7,728
Other debtors 55,638 27,131
64,715 34,859

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 26,441 26,441
Trade creditors 25,697 25,697
Taxation and social security 4,634 4,577
Other creditors 378,610 326,010
435,382 382,725

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 255,559 281,559

The bank loan is secured against the property situated at 52 High Street, Bawtry Doncaster, DN10 6JA.

8. RESERVES
Retained Undistributable
earnings reserves Totals
£    £    £   

At 1 December 2022 42,363 34,963 77,326
Profit for the year 728 728
Revaluation 2,590 (2,590 ) -
At 30 November 2023 45,681 32,373 78,054