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REGISTERED NUMBER: 04061285 (England and Wales)















LION ASSETS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






LION ASSETS LTD (REGISTERED NUMBER: 04061285)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


LION ASSETS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: Ms A A Smith
Mr L O de Souza



REGISTERED OFFICE: Clay Hill Park
Barnes Green
Brinkworth
CHIPPENHAM
Wiltshire
SN15 5AQ



REGISTERED NUMBER: 04061285 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Svenska Handelsbanken AG
40 Queen Square
BRISTOL
BS1 4QP

LION ASSETS LTD (REGISTERED NUMBER: 04061285)

STATEMENT OF FINANCIAL POSITION
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,655 -
Investment property 5 3,237,088 3,227,408
3,243,743 3,227,408

CURRENT ASSETS
Debtors 6 419 23,016
Cash at bank 18,190 90,489
18,609 113,505
CREDITORS
Amounts falling due within one year 7 785,728 1,105,349
NET CURRENT LIABILITIES (767,119 ) (991,844 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,476,624

2,235,564

CREDITORS
Amounts falling due after more than
one year

8

(1,127,438

)

(969,648

)

PROVISIONS FOR LIABILITIES (99,546 ) (96,434 )
NET ASSETS 1,249,640 1,169,482

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 1,249,638 1,169,480
SHAREHOLDERS' FUNDS 1,249,640 1,169,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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.

LION ASSETS LTD (REGISTERED NUMBER: 04061285)

STATEMENT OF FINANCIAL POSITION - continued
31ST JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th October 2024 and were signed on its behalf by:





Ms A A Smith - Director


LION ASSETS LTD (REGISTERED NUMBER: 04061285)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

Lion Assets Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04061285

Registered office: Clay Hill Park, Barnes Green, Brinkworth, Chippenham, Wiltshire, SN15 5AQ

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

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.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:
- Determine whether leases entered into by the company as a lessee are operating leases or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.
- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 5% on cost

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 Statement of Income and Retained Earnings, 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 statement of financial position date.


LION ASSETS LTD (REGISTERED NUMBER: 04061285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 7,829
At 31st January 2024 7,829
DEPRECIATION
Charge for year 1,174
At 31st January 2024 1,174
NET BOOK VALUE
At 31st January 2024 6,655

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st February 2023 3,227,408
Additions 9,680
At 31st January 2024 3,237,088
NET BOOK VALUE
At 31st January 2024 3,237,088
At 31st January 2023 3,227,408

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 179 842
Other debtors 240 22,174
419 23,016

LION ASSETS LTD (REGISTERED NUMBER: 04061285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 112,267 382,207
Trade creditors 10,264 417
Taxation and social security 25,908 45,618
Other creditors 637,289 677,107
785,728 1,105,349

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,127,438 969,648

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,239,705 1,351,855

The bank loans are secured by way of a fixed charge over the following land/properties:

- Unit 7 and unit 8 and paddock land at Callow Park, Brinkworth, Wiltshire.
- Freehold property known as Pebbledene, Barnes Green, Brinkworth, Wiltshire.
- Land and paddock at Callow Park, Callow Hill, Brinkworth, Wiltshire.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

11. RESERVES

Included within retained earnings is £560,522 (2023: £560,522) which is undistributable. This amount represents the difference between the fair value at the reporting date and the cost at initial recognition of the investment property, after taking into account any relevant deferred tax liability.