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REGISTERED NUMBER: 09146095 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

LYONS CORPORATION LIMITED

LYONS CORPORATION LIMITED (REGISTERED NUMBER: 09146095)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LYONS CORPORATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Ms N K Blencowe
Prof. M C T Blencowe





REGISTERED OFFICE: 10 Prince Albert Street
Brighton
BN1 1HE





REGISTERED NUMBER: 09146095 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

LYONS CORPORATION LIMITED (REGISTERED NUMBER: 09146095)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 3 - -
Investment property 4 5,625,000 4,859,014
5,625,000 4,859,014

CURRENT ASSETS
Debtors 5 77,625 47,225
Cash at bank 81,816 122,165
159,441 169,390
CREDITORS
Amounts falling due within one year 6 (1,002,379 ) (1,116,563 )
NET CURRENT LIABILITIES (842,938 ) (947,173 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,782,062

3,911,841

CREDITORS
Amounts falling due after more than one
year

7

(1,782,217

)

(1,825,470

)

PROVISIONS FOR LIABILITIES (484,713 ) (210,310 )
NET ASSETS 2,515,132 1,876,061

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 8 1,620,301 1,138,311
Retained earnings 894,731 737,650
2,515,132 1,876,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

LYONS CORPORATION LIMITED (REGISTERED NUMBER: 09146095)

BALANCE SHEET - continued
31 JULY 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 11 February 2025 and were signed on its behalf by:




Ms N K Blencowe - Director



Prof. M C T Blencowe - Director


LYONS CORPORATION LIMITED (REGISTERED NUMBER: 09146095)

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


1. 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 recognised at the fair value of the consideration received or receivable for good 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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The Stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only by the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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.

2. EMPLOYEES AND DIRECTORS

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

LYONS CORPORATION LIMITED (REGISTERED NUMBER: 09146095)

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


3. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2023
and 31 July 2024 1,445
DEPRECIATION
At 1 August 2023
and 31 July 2024 1,445
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023 4,859,014
Revaluations 765,986
At 31 July 2024 5,625,000
NET BOOK VALUE
At 31 July 2024 5,625,000
At 31 July 2023 4,859,014

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2023 1,348,621
Valuation in 2024 765,986
Cost 3,510,393
5,625,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,180 23,974
Tax 35,259 -
Prepayments 17,186 23,251
77,625 47,225

LYONS CORPORATION LIMITED (REGISTERED NUMBER: 09146095)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 41,000 41,000
Trade creditors 20,338 -
Amounts owed to associates 388,034 386,637
Tax 7,608 35,259
VAT 3,309 11,592
Other creditors 26,740 17,077
Directors' loan accounts 455,930 526,009
Accruals and deferred income 18,247 24,799
Accrued expenses 41,173 74,190
1,002,379 1,116,563

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 1,782,217 1,825,470

8. RESERVES
Non
distributable
reserve
£   
At 1 August 2023 1,138,311
Movement on revaluation 481,990

At 31 July 2024 1,620,301

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, a director decreased their loan to the company. As at 31 July 2024, the company owed them £455,930. (2023: £516,724).This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Prof. M C T Blencowe.

This was by virtue of his 100% holding of the issued share capital.