Company Registration No. 12841475 (England and Wales)
Wear Lionel Ltd
Unaudited accounts
for the period from 1 September 2024 to 28 February 2026
Wear Lionel Ltd
Unaudited accounts
Contents
Wear Lionel Ltd
Company Information
for the period from 1 September 2024 to 28 February 2026
Director
Daniel Jack Green
Company Number
12841475 (England and Wales)
Registered Office
5 Meadway Gate
London
NW11 7LA
Accountants
Clearfin Accountants Limited
Churchill House
137-139 Brent Street
London
NW4 4DJ
Wear Lionel Ltd
Statement of financial position
as at 28 February 2026
Cash at bank and in hand
3,221
-
Creditors: amounts falling due within one year
(3,215)
(13,254)
Net current assets/(liabilities)
6
(13,254)
Net assets/(liabilities)
6
(11,899)
Called up share capital
1
1
Profit and loss account
5
(11,900)
Shareholders' funds
6
(11,899)
For the period ending 28 February 2026 the company was entitled to exemption from audit 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 July 2026 and were signed on its behalf by
Daniel Jack Green
Director
Company Registration No. 12841475
Wear Lionel Ltd
Notes to the Accounts
for the period from 1 September 2024 to 28 February 2026
Wear Lionel Ltd is a private company, limited by shares, registered in England and Wales, registration number 12841475. The registered office is 5 Meadway Gate, London, NW11 7LA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due. The director expects an upturn in future trade that would improve the company's profitability. He has also expressed a willingness to support the company.
Wear Lionel Ltd
Notes to the Accounts
for the period from 1 September 2024 to 28 February 2026
4
Intangible fixed assets
Other
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2024
-
2,527
2,527
Additions
1,362
1,158
2,520
Disposals
(1,362)
(3,685)
(5,047)
At 1 September 2024
-
1,492
1,492
On disposals
-
(1,492)
(1,492)
At 31 August 2024
-
1,035
1,035
6
Creditors: amounts falling due within one year
2026
2024
Taxes and social security
1,352
-
Loans from directors
(1,946)
12,534
7
Average number of employees
During the period the average number of employees was 1 (2024: 1).