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REGISTERED NUMBER: 12814097 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

Lionstead Ltd

Lionstead Ltd (Registered number: 12814097)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Lionstead Ltd

COMPANY INFORMATION
for the year ended 31 March 2024







Directors: Mr D M Gribble
Mrs C Gribble





Registered office: Stowford House, Down Park Drive
Tavistock
Devon
PL19 9AH





Registered number: 12814097 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Lionstead Ltd (Registered number: 12814097)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 43,038 54,729

Current assets
Debtors 5 89,871 24,644
Cash at bank 173,122 82,817
262,993 107,461
Creditors
Amounts falling due within one year 6 102,306 46,657
Net current assets 160,687 60,804
Total assets less current liabilities 203,725 115,533

Provisions for liabilities 7 8,177 10,204
Net assets 195,548 105,329

Capital and reserves
Called up share capital 8 3 3
Retained earnings 195,545 105,326
Shareholders' funds 195,548 105,329

Lionstead Ltd (Registered number: 12814097)

BALANCE SHEET - continued
31 March 2024


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

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

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2024 and were signed on its behalf by:





Mrs C Gribble - Director


Lionstead Ltd (Registered number: 12814097)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Lionstead Ltd 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 receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by the reference to the stage of completion of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Lionstead Ltd (Registered number: 12814097)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor
Equipment vehicles Totals
£    £    £   
Cost
At 1 April 2023 14,543 58,135 72,678
Additions 848 - 848
At 31 March 2024 15,391 58,135 73,526
Depreciation
At 1 April 2023 2,506 15,443 17,949
Charge for year 1,866 10,673 12,539
At 31 March 2024 4,372 26,116 30,488
Net book value
At 31 March 2024 11,019 32,019 43,038
At 31 March 2023 12,037 42,692 54,729

Lionstead Ltd (Registered number: 12814097)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 81,045 23,840
Other debtors 8,826 804
89,871 24,644

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 73,451 34,729
Other creditors 28,855 11,928
102,306 46,657

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 8,177 10,204

Deferred
tax
£   
Balance at 1 April 2023 10,204
Provided during year (2,027 )
Balance at 31 March 2024 8,177

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary shares £1 2 2
1 Ordinary B share £1 1 1
3 3

9. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £8,022 by the directors, this amount was repaid in full within 9 months of the year end.

The maximum overdrawn in the year was £12,584, with a brought forward balance of £10,172 (credit), debits totalling £71,098 and credits of £52,904.