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REGISTERED NUMBER: 00653087 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

PRIDE OF LYONS LIMITED

PRIDE OF LYONS LIMITED (REGISTERED NUMBER: 00653087)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRIDE OF LYONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D Lyons
P Lyons
J Lyons





REGISTERED OFFICE: 1666 High Street
Knowle
Solihull
Birmingham
B93 0LY





REGISTERED NUMBER: 00653087 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

PRIDE OF LYONS LIMITED (REGISTERED NUMBER: 00653087)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 34,153 26,507
Investment property 5 1,680,000 1,562,602
1,714,153 1,589,109

CURRENT ASSETS
Debtors 6 932 13,624
Cash at bank and in hand 10,412 19,519
11,344 33,143
CREDITORS
Amounts falling due within one year 7 162,725 138,730
NET CURRENT LIABILITIES (151,381 ) (105,587 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,562,772

1,483,522

CREDITORS
Amounts falling due after more than one
year

8

(152,694

)

(67,269

)

PROVISIONS FOR LIABILITIES (241,359 ) (175,535 )
NET ASSETS 1,168,719 1,240,718

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,167,719 1,239,718
1,168,719 1,240,718

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.

PRIDE OF LYONS LIMITED (REGISTERED NUMBER: 00653087)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





D Lyons - Director


PRIDE OF LYONS LIMITED (REGISTERED NUMBER: 00653087)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Pride of Lyons Limited 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 as modified by the revaluation of certain assets.

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.

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 Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

PRIDE OF LYONS LIMITED (REGISTERED NUMBER: 00653087)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2023 101,435
Additions 13,673
At 31 March 2024 115,108
DEPRECIATION
At 1 April 2023 74,928
Charge for year 6,027
At 31 March 2024 80,955
NET BOOK VALUE
At 31 March 2024 34,153
At 31 March 2023 26,507

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 April 2023 1,562,602
Additions 36,842
Revaluations 80,556
At 31 March 2024 1,680,000
NET BOOK VALUE
At 31 March 2024 1,680,000
At 31 March 2023 1,562,602

Fair value at 31 March 2024 is represented by:
£
Valuation in 2023 1,562,602
Valuation in 2024 117,398
1,680,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 7,883 13,624
Other debtors (6,951 ) -
932 13,624

PRIDE OF LYONS LIMITED (REGISTERED NUMBER: 00653087)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 37,754 10,986
Trade creditors 23,989 461
Taxation and social security - 11,069
Other creditors 100,982 116,214
162,725 138,730

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 151,026 65,601
Other creditors 1,668 1,668
152,694 67,269