REGISTERED NUMBER: 04707974 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2025

for

Lionheart Business Park Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investment properties

4

8,692,126

3,915,000

CURRENT ASSETS

Debtors

5

81,671

7,968

Cash at bank

194,815

1,074,338

276,486

1,082,306

CREDITORS

Amounts falling due within one year

6

1,382,909

1,069,470

NET CURRENT (LIABILITIES)/ASSETS

(1,106,423

)

12,836

TOTAL ASSETS LESS CURRENT LIABILITIES

7,585,703

3,927,836

CREDITORS

Amounts falling due after more than one year

7

4,972,298

1,612,500

NET ASSETS

2,613,405

2,315,336

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

2,613,305

2,315,236

SHAREHOLDERS' FUNDS

2,613,405

2,315,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

R Singh - Director

1.	STATUTORY INFORMATION

Lionheart Business Park Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04707974

Registered office:

Southwood

Ling Lane

Scarcroft

Leeds

West Yorkshire

LS14 3HT

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value.

Turnover

Turnover represents net commercial rents, excluding value added tax. Where payments are received from tenants in advance of rental periods, the amounts are recorded as deferred income and included as part of creditors due within one year.

Investment property

Taxation

Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - other debtors, cash and bank balances, trade creditors, other creditors and bank loans.

Other debtors, cash and bank balances, trade creditors and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets

An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Critical accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values 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. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies and the key sources of estimation uncertainty that have had the most significant effect on the amounts recognised in the financial statements are described below:

Investment property

The company makes an estimate of the fair value of investment properties at each reporting date. The directors undertake a review of the property portfolio at each reporting date to assess whether the fair value has changed significantly since the previous reporting date. When assessing the fair values, management considers current commercial property trends and rental yields.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTIES

Total

£

FAIR VALUE

At 1 July 2024

3,915,000

Additions

4,777,126

At 30 June 2025

8,692,126

NET BOOK VALUE

At 30 June 2025

8,692,126

At 30 June 2024

3,915,000

Investment properties were valued as at 30 June 2025. These valuations, made by the directors, were based on market value.

The historic cost of the investment properties is £9,475,781.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

81,671

7,968

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

174,468

143,333

Trade creditors

330

2,400

Taxation and social security

49,532

85,339

Other creditors

1,158,579

838,398

1,382,909

1,069,470

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

4,972,298

1,612,500

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

5,146,766

1,755,833

Bank loans are secured over the investment properties and all other property and undertaking of the company by way of fixed charge, floating charge and negative pledge.

9.	CALLED UP SHARE CAPITAL

2025

2024

£

£

Allotted, issued and fully paid

100

100

10.

RESERVES

At 30 June 2025 within retained earnings is a non-distributable amount of £NIL (2024: £NIL) relating to fair value adjustments to investment property and the recognition of the associated deferred tax liability.

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2025 and 30 June 2024:

2025

2024

£

£

R Singh

Balance outstanding at start of year

-

12,619

Amounts repaid

-

(12,619

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-