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REGISTERED NUMBER: 12650508 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

LION WALL 2 LTD.

LION WALL 2 LTD. (REGISTERED NUMBER: 12650508)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


LION WALL 2 LTD.

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTORS: Mr M Herzog
Mr D Margulies





REGISTERED OFFICE: 6 Bruce Grove
London
N17 6RA





REGISTERED NUMBER: 12650508 (England and Wales)





AUDITORS: Xeinadin Audit Limited, Statutory Auditor
8th Floor, Becket House
36 Old Jewry
London
EC2R 8DD

LION WALL 2 LTD. (REGISTERED NUMBER: 12650508)

ABRIDGED BALANCE SHEET
31 May 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investment property 4 3,655,000 3,655,000

CURRENT ASSETS
Debtors - 2,616
Cash at bank 21,422 37,742
21,422 40,358
CREDITORS
Amounts falling due within one year 1,173,446 1,180,916
NET CURRENT LIABILITIES (1,152,024 ) (1,140,558 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,502,976

2,514,442

CREDITORS
Amounts falling due after more than one
year

5

(2,224,900

)

(2,262,435

)

PROVISIONS FOR LIABILITIES (14,680 ) (14,680 )
NET ASSETS 263,396 237,327

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 44,040 43,720
Retained earnings 219,156 193,407
SHAREHOLDERS' FUNDS 263,396 237,327

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 June 2025 and were signed on its behalf by:





Mr D Margulies - Director


LION WALL 2 LTD. (REGISTERED NUMBER: 12650508)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Lion Wall 2 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The accounts have been prepared on the going concern basis as the directors are of the opinion that the company will meet its liabilities as and when due, due to the continued support of the directors.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying value of the amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover represents rents and commission receivable, excluding value added tax. Revenue is recognised at the point that a demand for rent is issued to the tenants.

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual provisions of the instrument.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


LION WALL 2 LTD. (REGISTERED NUMBER: 12650508)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 3,655,000
NET BOOK VALUE
At 31 May 2024 3,655,000
At 31 May 2023 3,655,000

Investment property was valued on an open market basis on 31st May 2024 by the directors.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans 2,093,800 2,131,335

LION WALL 2 LTD. (REGISTERED NUMBER: 12650508)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,290,450 2,327,985

The bank loans are secured against the properties owned by the company.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Yedidya Zaiden FCCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited, Statutory Auditor

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date, the company owed £336,000 (2023: £336,000) to the directors.

At the balance sheet date, the company owed £469,000 (2023: £469,000) to companies of which certain of the directors or their close family members are directors.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Firdev Holdings Limited.