Lionrule Commercial Ltd - Accounts to registrar (filleted) - small 23.2.5

Lionrule Commercial Ltd - Accounts to registrar (filleted) - small 23.2.5

LIONRULE COMMERCIAL LTD - Company Information

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REGISTERED NUMBER: 03317640 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

LIONRULE COMMERCIAL LTD
LIONRULE COMMERCIAL LTD (REGISTERED NUMBER: 03317640)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LIONRULE COMMERCIAL LTD

Company Information
for the Year Ended 31 January 2023







DIRECTORS: N Sheinfeld
S Morgenstern





SECRETARY: N Sheinfeld





REGISTERED OFFICE: 5 North End Road
London
NW11 7RJ





REGISTERED NUMBER: 03317640 (England and Wales)





ACCOUNTANTS: Martin + Heller
Chartered Accountants
5 North End Road
London
NW11 7RJ
Page 1
LIONRULE COMMERCIAL LTD (REGISTERED NUMBER: 03317640)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 4,170,799 4,020,459

CURRENT ASSETS
Debtors 5 27,297 11,065
Cash at bank 121,612 14,030
148,909 25,095
CREDITORS
Amounts falling due within one year 6 1,512,804 2,182,794
NET CURRENT LIABILITIES (1,363,895 ) (2,157,699 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,806,904
1,862,760

CREDITORS
Amounts falling due after more than one
year
7
(2,493,265
)
(1,651,979
)

PROVISIONS FOR LIABILITIES (51,051 ) (51,051 )
NET ASSETS 262,588 159,730

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 153,154 153,154
Retained earnings 8 109,334 6,476
SHAREHOLDERS' FUNDS 262,588 159,730

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
LIONRULE COMMERCIAL LTD (REGISTERED NUMBER: 03317640)

Balance Sheet - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 January 2024 and were signed on its behalf by:





S Morgenstern - Director


The notes form part of these financial statements

Page 3
LIONRULE COMMERCIAL LTD (REGISTERED NUMBER: 03317640)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents rent and ground rents receivable (excluding value added tax).

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 February 2022 4,020,459
Additions 329,386
Disposals (179,046 )
At 31 January 2023 4,170,799
NET BOOK VALUE
At 31 January 2023 4,170,799
At 31 January 2022 4,020,459

Cost or valuation at 31 January 2023 is represented by:
£   
Valuation in 2018 204,206
Cost 3,966,593
4,170,799

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other Debtors 27,297 11,065

Page 4 continued...
LIONRULE COMMERCIAL LTD (REGISTERED NUMBER: 03317640)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts - 20,000
Rents in advance 12,760 7,360
Tax 27,396 18,582
Other creditors 24,251 25,601
Amounts due to group undertaking 1,440,897 2,085,305
Accrued expenses 7,500 25,946
1,512,804 2,182,794

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 1-2 years - 20,000
Bank loans 2-5 years 2,493,265 1,631,979
2,493,265 1,651,979

8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2022 6,476 153,154 159,630
Profit for the year 102,858 - 102,858
At 31 January 2023 109,334 153,154 262,488

9. ULTIMATE CONTROLLING PARTY

The controlling party is Lionrule Holdings Limited.

Page 5