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REGISTERED NUMBER: SC653769 (Scotland)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Lyon Motor Company Limited

Lyon Motor Company Limited (Registered number: SC653769)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lyon Motor Company Limited

Company Information
for the year ended 29 February 2024







DIRECTOR: B Singh





REGISTERED OFFICE: 1a Bankhead Crossway South
Edinburgh
EH11 4EX





REGISTERED NUMBER: SC653769 (Scotland)





ACCOUNTANTS: Marshall & Co
Chartered Accountants
& Chartered Tax Advisers
The Bloc
Springfield Way
Anlaby
Kingston upon Hull
East Yorkshire
HU10 6RJ

Lyon Motor Company Limited (Registered number: SC653769)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,163 13,582

CURRENT ASSETS
Stocks 1,387,430 1,142,595
Debtors 5 90,822 30,706
Cash at bank and in hand 108,581 84,030
1,586,833 1,257,331
CREDITORS
Amounts falling due within one year 6 715,883 607,726
NET CURRENT ASSETS 870,950 649,605
TOTAL ASSETS LESS CURRENT
LIABILITIES

886,113

663,187

CREDITORS
Amounts falling due after more than one
year

7

(135,241

)

-

PROVISIONS FOR LIABILITIES (2,881 ) (2,581 )
NET ASSETS 747,991 660,606

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 747,891 660,506
747,991 660,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Lyon Motor Company Limited (Registered number: SC653769)

Balance Sheet - continued
29 February 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 director and authorised for issue on 20 December 2024 and were signed by:





B Singh - Director


Lyon Motor Company Limited (Registered number: SC653769)

Notes to the Financial Statements
for the year ended 29 February 2024


1. STATUTORY INFORMATION

Lyon Motor Company Limited is a private company, limited by shares , registered in Scotland. 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 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.
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Lyon Motor Company Limited (Registered number: SC653769)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 27,685
Additions 8,897
At 29 February 2024 36,582
DEPRECIATION
At 1 March 2023 14,103
Charge for year 7,316
At 29 February 2024 21,419
NET BOOK VALUE
At 29 February 2024 15,163
At 28 February 2023 13,582

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 68,849 26,060
Other debtors 21,973 4,646
90,822 30,706

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 51,759 -
Trade creditors 128,560 84,465
Taxation and social security 29,908 104,163
Other creditors 505,656 419,098
715,883 607,726

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 135,241 -

Lyon Motor Company Limited (Registered number: SC653769)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


8. RELATED PARTY DISCLOSURES

At the period end the company owed a Director £170,095 (2023 - £291,384). The loan is non interest bearing and there are no formal terms of repayment.

9. ULTIMATE CONTROLLING PARTY

The controlling party is B Singh.