Lioned Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02190778 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31st March 2021

for

Lioned Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

Hubert Edward Coombs

Lysa Christine Coombs

SECRETARY:

Hubert Edward Coombs

REGISTERED OFFICE:

King's Buildings

Lydney

Gloucestershire

GL15 5HE

REGISTERED NUMBER:

02190778 (England and Wales)

ACCOUNTANTS:

Wildin & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

FIXED ASSETS

Tangible assets

4

200,000

-

CURRENT ASSETS

Stocks

5

2,293,001

2,865,355

Debtors

6

129,198

697,659

Cash at bank

43,131

21,140

2,465,330

3,584,154

CREDITORS

Amounts falling due within one year

7

604,665

717,320

NET CURRENT ASSETS

1,860,665

2,866,834

TOTAL ASSETS LESS CURRENT LIABILITIES

2,060,665

2,866,834

CREDITORS

Amounts falling due after more than one year

8

50,000

1,170,427

NET ASSETS

2,010,665

1,696,407

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

2,010,565

1,696,307

SHAREHOLDERS' FUNDS

2,010,665

1,696,407

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2021 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 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 and authorised for issue by the Board of Directors and authorised for issue on 10th September 2021 and were signed on its behalf by:

Hubert Edward Coombs - Director

1.	STATUTORY INFORMATION

Lioned Limited 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

Additions

200,000

At 31st March 2021

200,000

NET BOOK VALUE

At 31st March 2021

200,000

5.

STOCKS

31.3.21

31.3.20

£

£

Work-in-progress

2,293,001

2,865,355

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Directors' current accounts

-

2,004

Tax

-

11,445

VAT

4,063

6,297

Sundry Debtors & Prepayments

125,135

677,913

129,198

697,659

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Tax

73,684

25,613

Other creditors

400,000

611,691

Directors' current accounts

2,996

-

Accruals

127,985

80,016

604,665

717,320

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans (see note 9)

50,000

1,170,427

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

50,000

-

9.

LOANS

An analysis of the maturity of loans is given below:

31.3.21

31.3.20

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

1,170,427

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

50,000

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Bank loans

50,000

1,170,427

Lloyds Bank plc have a fixed charge over freehold property owned by the company and a floating charge over other assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.21

31.3.20

value:

£

£

50

Ordinary

£1

50

50

50

A Ordinary

£1

50

50

100

100

12.

RESERVES

Retained

earnings

£

At 1st April 2020

1,696,307

Profit for the year

314,258

At 31st March 2021

2,010,565

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Hubert Edward Coombs.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lioned Limited for the year ended 31st March 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Lioned Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lioned Limited and state those matters that we have agreed to state to the Board of Directors of Lioned Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lioned Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lioned Limited. You consider that Lioned 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 financial statements of Lioned 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 financial statements.

Wildin & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

Date: 10th September 2021