| Lion Turtle Ltd |
| Registered number: 12207955 |
| Balance Sheet |
| As at 31 December 2024 |
|
|
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Investment properties |
4 |
|
|
2,041,025 |
|
|
2,041,025 |
|
| Current assets |
| Debtors |
5 |
|
|
24,356 |
|
|
20,528 |
| Cash at bank |
|
|
|
37,222 |
|
|
23,413 |
|
|
|
|
61,578 |
|
|
43,941 |
|
| Creditors: amounts falling due within one year |
6 |
|
|
(68,172) |
|
|
(34,646) |
|
| Net current (liabilities)/assets |
|
|
|
(6,594) |
|
|
9,295 |
|
| Total assets less current liabilities |
|
|
|
2,034,431 |
|
|
2,050,320 |
|
| Creditors: amounts falling due after one year |
7 |
|
|
(1,854,383) |
|
|
(1,910,490) |
|
| Net assets |
|
|
|
180,048 |
|
|
139,830 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Share capital |
8 |
|
|
100 |
|
|
100 |
| Retained earnings |
|
|
|
179,948 |
|
|
139,730 |
|
| Shareholders' funds |
|
|
|
180,048 |
|
|
139,830 |
|
|
|
|
|
|
|
|
|
| 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 company has taken the option not to deliver a profit and loss account to the Registrar of Companies. |
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|
|
|
| Mehmet Sözen |
| Director |
| Approved by the board on 8 January 2026 |
|
| Lion Turtle Ltd |
| Notes to the Accounts |
| For the year ended 31 December 2024 |
|
|
|
| 1 |
Company information |
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The company is a private company limited by shares, incorporated in England and registered at 23 Berkeley Square, London, W1J 6EJ. |
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| 2 |
Accounting policies |
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2.1 Basis of preparation |
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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). |
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2.2 Going concern |
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The accounts have been prepared on the going concern basis even though at the balance sheet date the company's current liabilities exceeded its current assets. The company reviewed its forecasts for the period to 31 December 2027. Based on that review and the availability of financial resources, including the director's loan referred to in Note 7, the director considers that the company will continue to be able to meet its liabilities as they fall due for at least 12 months from the date of approval of these accounts and therefore the going concern basis remains appropriate for preparing the company's accounts. |
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2.3 Functional and presentation currency |
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The company's functional and presentation currency is Pound sterling ("£"). |
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2.4 Property income |
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Property income is measured at the fair value of the rents and other property income receivable, net of discounts and value added taxes. Property income is recognised over the period to which it relates. |
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2.5 Investment properties |
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Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the fair value reserve. Fair value is ascertained by an open market valuation on freehold basis, conducted annually by the director. In the director's opinion, the cost of the property protfolio as at 31 December 2024 is a reasonable approximation of the fair value. |
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2.6 Debtors |
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Short term debtors are measured at transaction price less any impairment losses for bad and doubtful debts. Longer term 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. |
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2.7 Creditors |
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Short term creditors are measured at transaction price. Longer term 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. |
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2.8 Taxation |
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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 accounts 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 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. |
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|
| 3 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed |
- |
|
- |
|
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| 4 |
Investment properties |
|
|
|
| £ |
|
Fair value |
|
At 1 January 2024 |
2,041,025 |
|
|
At 31 December 2024 |
2,041,025 |
|
|
|
| 5 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
8,427 |
|
10,824 |
|
Other debtors |
15,929 |
|
9,704 |
|
|
|
|
|
|
24,356 |
|
20,528 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Taxation |
48,907 |
|
24,609 |
|
Other creditors |
19,265 |
|
10,037 |
|
|
|
|
|
|
68,172 |
|
34,646 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Director's loan |
1,854,383 |
|
1,910,490 |
|
|
|
|
|
|
|
|
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The director's loan is interest-free and unsecured. The director has confirmed that he will not seek repayment to the extent that the loan may continue to be required by the company. |
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| 8 |
Share capital |
2024 |
|
2023 |
| £ |
£ |
|
Allotted, called up and fully paid: |
|
100 Ordinary shares of £1 each |
100 |
|
100 |
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