Company registration number 07163543 (England and Wales)
GOLDEN LION (BRIGHTON) GROUP LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
GOLDEN LION (BRIGHTON) GROUP LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
GOLDEN LION (BRIGHTON) GROUP LTD
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GOLDEN LION (BRIGHTON) GROUP LTD FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Golden Lion (Brighton) Group Ltd for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Golden Lion (Brighton) Group Ltd, as a body, in accordance with the terms of our engagement letter dated 29 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Golden Lion (Brighton) Group Ltd and state those matters that we have agreed to state to the board of directors of Golden Lion (Brighton) Group Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Golden Lion (Brighton) Group Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Golden Lion (Brighton) Group Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Golden Lion (Brighton) Group Ltd. You consider that Golden Lion (Brighton) Group Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Golden Lion (Brighton) Group Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
29 October 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
GOLDEN LION (BRIGHTON) GROUP LTD
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
664,135
519,010
Investments
5
3,413
3,413
667,548
522,423
Current assets
Stocks
84,944
99,552
Debtors
6
1,422,064
727,996
Cash at bank and in hand
253,595
983,974
1,760,603
1,811,522
Creditors: amounts falling due within one year
7
(765,963)
(735,459)
Net current assets
994,640
1,076,063
Total assets less current liabilities
1,662,188
1,598,486
Creditors: amounts falling due after more than one year
8
(175,216)
(325,269)
Provisions for liabilities
(84,100)
(70,400)
Net assets
1,402,872
1,202,817
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
1,402,772
1,202,717
Total equity
1,402,872
1,202,817

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GOLDEN LION (BRIGHTON) GROUP LTD
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 29 October 2024 and are signed on its behalf by:
Mr L D Day
Mrs L S Day-Sheriff
Director
Director
Company registration number 07163543 (England and Wales)
GOLDEN LION (BRIGHTON) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Golden Lion (Brighton) Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Hove Place, 35-37 First Avenue, Hove, East Sussex, BN3 2FH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

GOLDEN LION (BRIGHTON) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over the term of the lease
Leasehold improvements
Over the term of the lease
Plant and equipment
25% on a straight line basis
Fixtures and fittings
15% on a straight line basis
Computers
20% on a straight line basis
Motor vehicles
25% on a diminishing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

GOLDEN LION (BRIGHTON) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 47 (2023 - 45).

3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
97,144
Amortisation and impairment
At 1 April 2023 and 31 March 2024
97,144
Carrying amount
At 31 March 2024
-
0
At 31 March 2023
-
0
GOLDEN LION (BRIGHTON) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
4
Tangible fixed assets
Leasehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 April 2023
123,334
392,980
93,833
348,376
12,558
51,890
1,022,971
Additions
-
0
202,936
-
0
92,586
333
-
0
295,855
Disposals
-
0
(104,408)
(9,170)
(11,760)
(1,069)
-
0
(126,407)
At 31 March 2024
123,334
491,508
84,663
429,202
11,822
51,890
1,192,419
Depreciation and impairment
At 1 April 2023
55,489
155,203
72,999
205,553
7,150
7,567
503,961
Depreciation charged in the year
6,382
21,730
10,898
43,841
2,076
11,081
96,008
Eliminated in respect of disposals
-
0
(54,540)
(8,665)
(7,910)
(570)
-
0
(71,685)
At 31 March 2024
61,871
122,393
75,232
241,484
8,656
18,648
528,284
Carrying amount
At 31 March 2024
61,463
369,115
9,431
187,718
3,166
33,242
664,135
At 31 March 2023
67,845
237,777
20,834
142,823
5,408
44,323
519,010
GOLDEN LION (BRIGHTON) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,413
3,413
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
114,211
19,211
Other debtors
1,307,853
708,785
1,422,064
727,996
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
150,000
150,000
Trade creditors
203,533
162,035
Amounts owed to group undertakings
214,326
214,326
Taxation and social security
174,564
199,716
Other creditors
23,540
9,382
765,963
735,459
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
175,216
325,269
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
37
37
37
37
Ordinary B shares of £1 each
25
25
25
25
Ordinary C shares of £1 each
10
10
10
10
Ordinary D shares of £1 each
10
10
10
10
Ordinary E shares of £1 each
9
9
9
9
Ordinary F shares of £1 each
9
9
9
9
100
100
100
100
GOLDEN LION (BRIGHTON) GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
10
Financial commitments, guarantees and contingent liabilities

The company has entered into a cross guarantee to secure the bank borrowings of another company owned by two of the directors. There is a fixed and floating charge over the assets of the other company. The secured loan balance outstanding at 31 March 2024 was £1,231,517.

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
7,008,345
7,527,203
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