Registration number:
Lion Lion & Son Limited
for the Year Ended 30 September 2019
Lion Lion & Son Limited
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Lion Lion & Son Limited
Company Information
Directors |
R E Oborne N Oborne T Oborne R E C Oborne |
Company secretary |
R E C Oborne |
Registered office |
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Accountants |
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Page 1 |
Lion Lion & Son Limited
Directors' Report for the Year Ended 30 September 2019
The directors present their report and the financial statements for the year ended 30 September 2019.
Directors of the company
The directors who held office during the year were as follows:
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
T Oborne
Director
Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lion Lion & Son Limited
for the Year Ended 30 September 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lion Lion & Son Limited for the year ended 30 September 2019 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Lion Lion & Son Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lion Lion & Son Limited and state those matters that we have agreed to state to the Board of Directors of Lion Lion & Son Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lion Lion & Son Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lion Lion & Son Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Lion Lion & Son Limited. You consider that Lion Lion & Son Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Lion Lion & Son Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Cray Road
Sidcup
Kent
DA14 5DA
Page 3 |
Lion Lion & Son Limited
Profit and Loss Account for the Year Ended 30 September 2019
2019 |
2018 |
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Turnover |
- |
- |
Administrative expenses |
( |
( |
Operating loss |
( |
( |
Loss before tax |
( |
( |
Loss for the financial year |
( |
( |
Page 4 |
Lion Lion & Son Limited
(Registration number: 00083494)
Balance Sheet as at 30 September 2019
Note |
2019 |
2018 |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
T Oborne
Director
Page 5 |
Lion Lion & Son Limited
Statement of Changes in Equity for the Year Ended 30 September 2019
Share capital |
Other reserves |
Profit and loss account |
Total |
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At 1 October 2018 |
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Loss for the year |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
( |
( |
At 30 September 2019 |
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Share capital |
Other reserves |
Profit and loss account |
Total |
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At 1 October 2017 |
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Loss for the year |
- |
- |
( |
( |
Total comprehensive income |
- |
- |
( |
( |
At 30 September 2018 |
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Page 6 |
Lion Lion & Son Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' 'FRS 102 1A, and with the Companies Act 2006.
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
Page 7 |
Lion Lion & Son Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019
Financial instruments
Classification
Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.
Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.
Recognition and measurement
Impairment
Trade and other debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade and other creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 8 |
Lion Lion & Son Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
2019 |
2018 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2019 |
2018 |
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Due within one year |
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Other creditors |
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Page 9 |