Lion Exhibition Services Ltd 08830620 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is exhibition services Digita Accounts Production Advanced 6.30.9574.0 true true 08830620 2023-03-01 2024-02-29 08830620 2024-02-29 08830620 bus:OrdinaryShareClass1 2024-02-29 08830620 core:CurrentFinancialInstruments 2024-02-29 08830620 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 08830620 core:FurnitureFittingsToolsEquipment 2024-02-29 08830620 core:MotorVehicles 2024-02-29 08830620 bus:SmallEntities 2023-03-01 2024-02-29 08830620 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08830620 bus:FilletedAccounts 2023-03-01 2024-02-29 08830620 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08830620 bus:RegisteredOffice 2023-03-01 2024-02-29 08830620 bus:CompanySecretary1 2023-03-01 2024-02-29 08830620 bus:Director2 2023-03-01 2024-02-29 08830620 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 08830620 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08830620 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 08830620 core:MotorVehicles 2023-03-01 2024-02-29 08830620 core:PlantMachinery 2023-03-01 2024-02-29 08830620 countries:England 2023-03-01 2024-02-29 08830620 2023-02-28 08830620 core:FurnitureFittingsToolsEquipment 2023-02-28 08830620 core:MotorVehicles 2023-02-28 08830620 2022-03-01 2023-02-28 08830620 2023-02-28 08830620 bus:OrdinaryShareClass1 2023-02-28 08830620 core:CurrentFinancialInstruments 2023-02-28 08830620 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 08830620 core:FurnitureFittingsToolsEquipment 2023-02-28 08830620 core:MotorVehicles 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08830620

Lion Exhibition Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Lion Exhibition Services Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Lion Exhibition Services Ltd

Company Information

Director

A E Holden

Company secretary

R E Young

Registered office

Milo House
34 Greenfields Road
Walsall
West Midlands
WS4 1RS

Accountants

Munslows Accountants Ltd
Chartered Certified Accountants
32 High Street
Wall Heath
Kingswinford
West Midlands
DY6 0HB

 

Lion Exhibition Services Ltd

(Registration number: 08830620)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

71,984

86,624

Investment property

5

86,079

77,982

 

158,063

164,606

Current assets

 

Stocks

6

30,250

25,000

Debtors

7

127,178

145,480

Cash at bank and in hand

 

358,917

339,740

 

516,345

510,220

Creditors: Amounts falling due within one year

8

(152,481)

(147,090)

Net current assets

 

363,864

363,130

Net assets

 

521,927

527,736

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

521,827

527,636

Shareholders' funds

 

521,927

527,736

For the financial year ending 29 February 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 November 2024
 

.........................................
A E Holden
Director

 

Lion Exhibition Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Milo House
34 Greenfields Road
Walsall
West Midlands
WS4 1RS

These financial statements were authorised for issue by the director on 6 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lion Exhibition Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% straight line

Motor vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Lion Exhibition Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Lion Exhibition Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

35,503

70,633

106,136

Additions

3,806

7,500

11,306

At 29 February 2024

39,309

78,133

117,442

Depreciation

At 1 March 2023

8,398

11,114

19,512

Charge for the year

6,413

19,533

25,946

At 29 February 2024

14,811

30,647

45,458

Carrying amount

At 29 February 2024

24,498

47,486

71,984

At 28 February 2023

27,105

59,519

86,624

5

Investment properties

2024
£

At 1 March

77,982

Additions

8,097

At 29 February

86,079

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

30,250

25,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

100,400

73,898

Prepayments

2,687

2,347

Other debtors

24,091

69,235

 

127,178

145,480

 

Lion Exhibition Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

70,445

13,125

Taxation and social security

78,211

130,052

Accruals and deferred income

1,950

1,950

Other creditors

1,875

1,963

152,481

147,090

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100