Victor Lionheart Limited - Filleted accounts

Registered number

06671520

Victor Lionheart Limited

Unaudited Filleted Accounts

31 March 2025

Victor Lionheart Limited
Registered number:		06671520
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		49,881			60,351

Current assets
Debtors	4	2,919			11,072
Cash at bank and in hand		8,890			20,504
		11,809			31,576

Creditors: amounts falling due within one year	5	(33,645)			(33,764)

Net current liabilities			(21,836)			(2,188)

Total assets less current liabilities			28,045			58,163

Creditors: amounts falling due after more than one year	6		(10,709)			(14,457)

Provisions for liabilities			-			(8,402)


Net assets			17,336			35,304

Capital and reserves
Called up share capital			4			4
Profit and loss account			17,332			35,300

Shareholders' funds			17,336			35,304

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




R Ruprai
Director
Approved by the board on 15 December 2025

Victor Lionheart Limited
Notes to the Accounts
for the period from 1 September 2024 to 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			25% reducing balance method
	Motor vehicle			25% reducing balance method

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					2		2


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2024	16,127		22,318		55,699		94,144
	Additions	-		632		-		632
	At 31 March 2025	16,127		22,950		55,699		94,776

	Depreciation
	At 1 September 2024	-		17,257		16,536		33,793
	Charge for the period	-		1,311		9,791		11,102
	At 31 March 2025	-		18,568		26,327		44,895

	Net book value
	At 31 March 2025	16,127		4,382		29,372		49,881
	At 31 August 2024	16,127		5,061		39,163		60,351


4	Debtors					2025		2024
£							£

	Other debtors					2,919		11,072


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Obligations under finance lease and hire purchase contracts					3,747		3,747
	Taxation and social security costs					-		20,522
	Other creditors					29,898		9,495
						33,645		33,764


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Obligations under finance lease and hire purchase contracts					10,709		14,457


7	Other information

	Victor Lionheart Limited is a private company limited by shares and incorporated in England. Its registered office is:
	12 Tresco Gardens
	Ilford
	England
	IG3 9NH