Lion Garage Services Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 11632383

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		123,373		92,276

			123,373		92,276
CURRENT ASSETS
Stocks	5	6,000		6,000
Debtors	6	48,333		45,575
Cash at bank and in hand		8,276		-

		62,609		51,575
Creditors: Amounts Falling Due Within One Year	7	(158,372 )		(100,498 )

NET CURRENT ASSETS (LIABILITIES)			(95,763 )		(48,923 )

TOTAL ASSETS LESS CURRENT LIABILITIES			27,610		43,353

Creditors: Amounts Falling Due After More Than One Year	8		(27,073 )		(32,917 )

NET ASSETS			537		10,436

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			535		10,434

SHAREHOLDERS' FUNDS			537		10,436

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Lion Garage Services Ltd

Balance Sheet (continued)

As At 31 October 2024

For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Barry Jones

Director

22/10/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Lion Garage Services Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11632383 . The registered office is 15 Front Street West, Bedlington, NE22 5TZ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Straight Line
Motor Vehicles	25% Straight Line

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 6)

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Lion Garage Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 November 2023	116,892	14,995	131,887
Additions	16,023	45,995	62,018

As at 31 October 2024	132,915	60,990	193,905

Depreciation
As at 1 November 2023	39,611	-	39,611
Provided during the period	25,289	5,632	30,921

As at 31 October 2024	64,900	5,632	70,532

Net Book Value
As at 31 October 2024	68,015	55,358	123,373

As at 1 November 2023	77,281	14,995	92,276

5. Stocks

	2024	2023
	£	£
Stock	6,000	6,000

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	4,635	3,326
Other debtors	25,470	(1,056 )
Directors Loan	18,228	43,305

	48,333	45,575

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	133,369	86,775
Bank loans and overdrafts	1,577	1,577
Corporation tax	413	413
Other taxes and social security	21,477	8,974
Other creditors	1,536	2,759

	158,372	100,498

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	27,073	32,917

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Lion Garage Services Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

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