Registration number: 14897777

Lion Plaza Propco Limited

Contents

Statement of Financial Position	1
Notes to the Financial Statements	2 to 6

Lion Plaza Propco Limited

(Registration number: 14897777)
Statement of Financial Position as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	4	197,700,000	212,007,852
Current assets
Debtors	5	4,342,395	4,994,725
Cash at bank and in hand		6,393,040	7,260,396
		10,735,435	12,255,121
Creditors: Amounts falling due within one year	6	(129,647,327)	(133,254,303)
Net current liabilities		(118,911,892)	(120,999,182)
Total assets less current liabilities		78,788,108	91,008,670
Provisions for liabilities		(4,083,744)	(4,283,404)
Net assets		74,704,364	86,725,266
Capital and reserves
Called up share capital		100	100
Other reserves		88,257,936	88,257,936
Profit and loss account		(13,553,672)	(1,532,770)
Shareholders' funds		74,704,364	86,725,266

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 22 July 2025 and signed on its behalf by:
 

......................................... M D H Nguyen Director

Lion Plaza Propco Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 23 July 2025 was Charlotte Ryan BSc FCA, who signed for and on behalf of Stewart & Co Accountants LLP.

.........................................

Key sources of estimation uncertainty

Revaluation of investment properties: The company caries its investment properties at fair value, with changes in fair value being recognised in the income statement. The carrying value and key assumptions used to determine the fair value of investment property are further explained in Note 4..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Lion Plaza Propco Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4	Investment properties

	2024 £
At 1 January 2024	212,007,852
Fair value adjustments	(14,307,852)
At 31 December 2024	197,700,000

Lion Plaza Propco Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

The investment property was revalued during the year by independent valuers.

The investment property is financed by a third party mortgage provider, who has fixed and floating charges over the company's assets, including the investment property

Lion Plaza Propco Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Debtors

	2024 £	2023 £
Trade debtors	359,942	699,495
Other debtors	3,541,828	4,129,562
Prepayments	203,451	165,668
Accrued income	237,174	-
	4,342,395	4,994,725

6

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Bank loans and overdrafts	7	122,684,390	122,818,803
Trade creditors		852,366	2,348,453
Taxation and social security		118,074	268,135
Accruals and deferred income		5,530,365	7,375,755
Other creditors		462,132	443,157
		129,647,327	133,254,303

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £122,684,390

7	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	122,684,390	122,818,803

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £104,520 (2023 - £2,769,148).

Lion Plaza Propco Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

9	Parent and ultimate parent undertaking

The company's immediate parent is Halley Six Limited, incorporated in British Virgin Islands.

 The ultimate parent is Stellar View Limited, incorporated in British Virgin Islands.

  These financial statements are available upon request from Commerce Chambers, Road Town, Tortola, British Virgin Islands

 

10	Going concern

The financial statements have been prepared on a going concern basis due to the continuing support of the immediate parent company, Halley Six Limited, a company registered in the British Virgin Islands.