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REGISTERED NUMBER: 13996569 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Lebanon Cedar Ltd

Lebanon Cedar Ltd (Registered number: 13996569)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lebanon Cedar Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: D S Obhrai
T S Obhrai





REGISTERED OFFICE: 173 Cleveland Street
London
W1T 6QR





REGISTERED NUMBER: 13996569 (England and Wales)





ACCOUNTANTS: Shah Dodhia & Co
173 Cleveland Street
London
W1T 6QR

Lebanon Cedar Ltd (Registered number: 13996569)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 4,037,423 4,031,512

CURRENT ASSETS
Debtors 5 105,288 222,234

CREDITORS
Amounts falling due within one year 6 223,279 441,548
NET CURRENT LIABILITIES (117,991 ) (219,314 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,919,432

3,812,198

CREDITORS
Amounts falling due after more than one
year

7

4,284,654

4,012,000
NET LIABILITIES (365,222 ) (199,802 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (366,222 ) (200,802 )
(365,222 ) (199,802 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 19 March 2025 and were signed on its behalf by:



T S Obhrai - Director


Lebanon Cedar Ltd (Registered number: 13996569)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Lebanon Cedar Ltd 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Going concern
The company has net liabilities of £365,222 (2023: £199,802) as at 30 June 2024. The directors have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the company to continue as a going concern. On the basis of their assessment of the company's financial position and the financial position of the trading subsidiary, the directors have reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing these financial statements.

Lebanon Cedar Ltd (Registered number: 13996569)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Basic financial instrument
Other debtors and creditors
Other debtors are recognised initially at transaction price plus attributable transaction costs. Other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of other debtors.

If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Interest-bearing borrowings classified as basic financial instruments
Borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, borrowings are stated at amortised cost using the effective interest method, less any impairment losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 July 2023 4,031,512
Additions 5,911
At 30 June 2024 4,037,423
NET BOOK VALUE
At 30 June 2024 4,037,423
At 30 June 2023 4,031,512

The company acquired 100% of the issued share capital of Sierraville Limited, a company providing hotel and restaurant service. The investments are carried forward at cost.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 105,288 222,234

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 84,000 88,000
Amounts owed to group undertakings - 120,819
Amounts owed to related undertakings 23,400 23,400
Other creditors 115,879 209,329
223,279 441,548

Lebanon Cedar Ltd (Registered number: 13996569)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 1,919,892 2,412,000
Amounts owed to group undertakings 732,433 -
Other creditors 1,632,329 1,600,000
4,284,654 4,012,000

The bank loan is available for 15 years and the interest is fixed at commercial variable base rate plus margin. It is secured by first legal charge over the freehold property owned by the subsidiary undertaking, unlimited cross guarantee from the subsidiary undertaking, debenture over the assets of the company and its subsidiary undertaking and the personal guarantee from the shareholders.

The amount owed to group undertaking bears interest at average cost of finance to the company plus a margin of 0.167 from 01 July 2023 for a term of 5 years.

The company has received a loan of £1.6m from a related company. The loan is available for 10 years and bears interest at a variable rate equal to HMRC's beneficial loan arrangements official rate.

8. RELATED PARTY DISCLOSURES

The company has received an interest free loan of £23,400 (2023: £23,400) from a company under common ownership at the Balance Sheet date. The loan is repayable on demand.

The company has taken advantage of the exemption contained in FRS 102.33 and has therefore not disclosed transactions on balances with the subsidiary undertaking.

9. ULTIMATE CONTROLLING PARTY

The company is controlled and owned by the two directors and therefore they are considered to be the ultimate controlling party.