G. Lyon Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03188912 (England and Wales)

G. LYON LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

D Feltham

REGISTERED OFFICE:

20 Aldwych Avenue

Rusholme

Manchester

M14 5NL

REGISTERED NUMBER:

03188912 (England and Wales)

ACCOUNTANTS:

DTE Business Advisers Limited

Chartered Accountants

The Exchange

5 Bank Street

Bury

BL9 0DN

FIXED ASSETS

Investment property

4

663,000

663,000

CURRENT ASSETS

Debtors

5

124,239

139,601

Cash at bank

313

28,729

124,552

168,330

CREDITORS

Amounts falling due within one year

6

(309,718

)

(311,980

)

NET CURRENT LIABILITIES

(185,166

)

(143,650

)

TOTAL ASSETS LESS CURRENT LIABILITIES

477,834

519,350

PROVISIONS FOR LIABILITIES

(101,710

)

(101,710

)

NET ASSETS

376,124

417,640

CAPITAL AND RESERVES

Called up share capital

1

1

Other reserves

406,838

406,838

Retained earnings

(30,715

)

10,801

SHAREHOLDERS' FUNDS

376,124

417,640

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 28 March 2018 and were signed by:

D Feltham - Director

1.	STATUTORY INFORMATION

G. Lyon Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number is 03188912 and its registered office address is 20 Aldwych Avenue, Rusholme, Manchester,

M14 5NL.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The company has transitioned to Financial Reporting Standard 102 Section 1A and the Companies Act 2006

from UK Generally Accepted Accounting Practice. The date of transition is 1 July 2015.

The director has considered the business risks and believes that the company is well placed to manage these risks

successfully, thus the going concern basis of accounting has been adopted in preparing these financial statements.

Critical accounting estimates and judgements

In the application of the company's accounting policies, the director is required to make estimates and

judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ

from these estimates.

Estimating the value of investment property is considered to be a key judgement.

Revenue recognition

Revenue comprises the aggregate of the fair value of the rental services provided. Revenue is recognised as those

services are provided to the occupants of the properties.

Investment property

Investment properties are recognised at fair value. Revaluation surpluses are recognised in the income statement.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost,

being the transaction price less any amounts settled.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2016

and 30 June 2017

663,000

NET BOOK VALUE

At 30 June 2017

663,000

At 30 June 2016

663,000

Fair value at 30 June 2017 is represented by:

£

Valuation in 2017

508,548

Cost

154,452

663,000

Investment properties were valued by Bilfinger GVA, property consultants, in September 2016.

The director valued the properties as at 30 June 2017 at the same carrying value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts due from fellow subsidiaries

87,435

104,535

Amounts due from related parties

32,365

32,365

Amounts due from parent company

4,439

2,701

124,239

139,601

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

283,386

Trade creditors

18,807

11,035

Corporation tax

3,540

-

Amounts due to fellow subsidiaries

10,559

10,559

Amount due to holding company

269,812

-

Amounts due to related parties

7,000

7,000

309,718

311,980

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

-

283,386

The bank loans are secured by way of debentures secured against the investment properties.

8.

DIVIDENDS

During the year, the company paid dividends totalling £55,900 to the parent company. The dividends were paid

on the basis that the director believed that the company had sufficient reserves to do so and as such the director

undertakes to make no further distributions until such time as there are reserves available for the purpose.