The Golden Lion (Pembrokeshire) Ltd


Director	D R Paish


Registered Address	74 High Street
	Fishguard
	SA65 9AU


Registered Number	07981415 (England and Wales)

Balance Sheet as at
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	4		43,750		50,000
Tangible assets	5		1,644,562		188,655
			1,688,312		238,655
Current assets
Stocks	6	23,448		24,747
Debtors	7	235,805		992,536
Current asset investments		350,000		350,000
Cash at bank and on hand		11,092		24,281
		620,345		1,391,564
Creditors amounts falling due within one year	8	(749,810)		(705,528)
Net current assets (liabilities)			(129,465)		686,036
Total assets less current liabilities			1,558,847		924,691
Creditors amounts falling due after one year	9		(562,791)		(69,252)
Provisions for liabilities	10		(27,003)		(28,533)
Net assets			969,053		826,906
Capital and reserves
Called up share capital			100		100
Profit and loss account			968,953		826,806
Shareholders' funds			969,053		826,906

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Director on 22 December 2025, and are signed on its behalf by:

D R Paish
Director
Registered Company No. 07981415

The Golden Lion (Pembrokeshire) Ltd

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Turnover policy
	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.

	Revenue from sale of goods
	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.

Revenue from sale of goods

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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Goodwill arising in connection with the acquisition of the businesses is capitalised and amortised over its estimated economic life to a maximum of 20 years. Goodwill is reviewed annually for impairment if events or changes in circumstances indicate that the carrying value may not be recoverable.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets with the exception of freehold property, as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	20
Plant and machinery	10	-
Fixtures and fittings	-	10

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2025		2024
	Average number of employees during the year	34		37

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 April 24	125,000
	At 31 March 25	125,000
	Amortisation and impairment
	At 01 April 24	75,000
	Charge for year	6,250
	At 31 March 25	81,250
	Net book value
	At 31 March 25	43,750
	At 31 March 24	50,000

5.	Tangible fixed assets

		Total
		£
	Cost or valuation
	At 01 April 24	348,468
	Additions	1,530,587
	Disposals	(91,619)
	At 31 March 25	1,787,436
	Depreciation and impairment
	At 01 April 24	159,813
	Charge for year	29,551
	On disposals	(46,490)
	At 31 March 25	142,874
	Net book value
	At 31 March 25	1,644,562
	At 31 March 24	188,655

6.	Stocks

	2025	2024
	£	£
Raw materials and consumables	23,448	24,747
Total	23,448	24,747

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	230,623	987,511
Prepayments and accrued income	5,182	5,025
Total	235,805	992,536

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	144,465	140,396
Bank borrowings and overdrafts	87,706	103,257
Taxation and social security	383,264	431,993
Other creditors	106,691	1,461
Accrued liabilities and deferred income	27,684	28,421
Total	749,810	705,528


	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.

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	562,791	69,252
Total	562,791	69,252

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	27,003	28,533
Total	27,003	28,533

11.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
D R Paish	764,989	74,117	839,106	0
	764,989	74,117	839,106	0


	The director's loan was repaid in full on 16 December 2024.

12.	Related party transactions
	On 22 December 2014 The Golden Lion (Pembrokeshire) Ltd purchased an annuity contract from Mr D Paish for £200,000. Under the terms of the contract the company will receive annual payments of £13,550 commencing on 5 April 2024 for the lifetime of Mr D Paish. On 23 December 2016 The Golden Lion (Pembrokeshire) Ltd purchased an annuity contract from Mr D Paish for £150,000. Under the terms of the contract the company will receive annual payments of £5,744 commencing on 23 December 2017 for the lifetime of Mr D Paish.

12.

Related party transactions

On 22 December 2014 The Golden Lion (Pembrokeshire) Ltd purchased an annuity contract from Mr D Paish for £200,000.  Under the terms of the contract the company will receive annual payments of £13,550 commencing on 5 April 2024 for the lifetime of Mr D Paish.

On 23 December 2016 The Golden Lion (Pembrokeshire) Ltd purchased an annuity contract from Mr D Paish for £150,000.  Under the terms of the contract the company will receive annual payments of £5,744 commencing on 23 December 2017 for the lifetime of Mr D Paish.