LIONSHEART_PROPERTIES_LIM - Accounts

LIONSHEART PROPERTIES LIMITED - Company Information

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Company Registration No. 08396666 (England and Wales)

LIONSHEART PROPERTIES LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

LIONSHEART PROPERTIES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

LIONSHEART PROPERTIES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Current assets

Stocks

626,280

426,287

Debtors

1,361

4,631

Cash at bank and in hand

26,780

654,421

430,951

Creditors: amounts falling due within one year

(110,336)

(14,662)

Total assets less current liabilities

544,085

416,289

Creditors: amounts falling due after more than one year

(551,430)

(446,430)

(7,345)

(30,141)

Capital and reserves

Called up share capital

1,000

Profit and loss account

(8,345)

(31,141)

Shareholder's funds

(7,345)

(30,141)

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 13 December 2016

Mr D A Evans

Director

Company Registration No. 08396666

LIONSHEART PROPERTIES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements have been prepared on the going concern basis. The director confirms that this is appropriate and confirms that he will continue to support the funding requirements of the company as required for at least the next twelve months.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for consultancy services and property rental net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Land and buildings Freehold

1.5

Stock

Work in progress is valued at the lower of cost and net realisable value. Work in progress includes the cost of the land on which the property is being built together with all build and professional fees relating to the property itself.

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

451,300

346,300

Share capital

2016

2015

Allotted, called up and fully paid

1,000,000 Ordinary of £0.001 each

1,000