LION FURNITURE LIMITED

Company Registration Number:
07366853 (England and Wales)

Unaudited abridged accounts for the year ended 31 July 2024

Period of accounts

Start date: 01 August 2023

End date: 31 July 2024

LION FURNITURE LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2024

Balance sheet
Notes

LION FURNITURE LIMITED

Balance sheet

As at 31 July 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 78,489 86,645
Total fixed assets: 78,489 86,645
Current assets
Stocks: 506,800 627,500
Debtors:   1,335,571 1,031,935
Cash at bank and in hand: 7,980 27,482
Total current assets: 1,850,351 1,686,917
Creditors: amounts falling due within one year:   (1,019,853) (959,055)
Net current assets (liabilities): 830,498 727,862
Total assets less current liabilities: 908,987 814,507
Total net assets (liabilities): 908,987 814,507
Capital and reserves
Called up share capital: 120 120
Profit and loss account: 908,867 814,387
Shareholders funds: 908,987 814,507

The notes form part of these financial statements

LION FURNITURE LIMITED

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 January 2025
and signed on behalf of the board by:

Name: Alexander Hochhauser
Status: Director

The notes form part of these financial statements

LION FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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: Plant and equipment 25% Fixtures and fittings 25% Computers 33% Motor vehicles 25% 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

LION FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

2. Employees

2024 2023
Average number of employees during the period 15 15

LION FURNITURE LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible Assets

Total
Cost £
At 01 August 2023 124,239
Additions 3,644
At 31 July 2024 127,883
Depreciation
At 01 August 2023 37,594
Charge for year 11,800
At 31 July 2024 49,394
Net book value
At 31 July 2024 78,489
At 31 July 2023 86,645