Lioncall Ltd

Lioncall Ltd

LIONCALL LTD - Company Information

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1 January 2017 false No description of principal activity Taxfiler 2018.11.Web 04624269business:PrivateLimitedCompanyLtd2017-01-012017-12-31 046242692016-12-31 046242692017-01-012017-12-31 04624269business:AuditExempt-NoAccountantsReport2017-01-012017-12-31 04624269business:FullAccounts2017-01-012017-12-31 046242692017-12-31 04624269business:Director12017-01-012017-12-31 04624269business:RegisteredOffice2017-01-012017-12-31 046242692016-12-31 04624269core:WithinOneYear2017-12-31 04624269core:WithinOneYear2016-12-31 04624269core:AfterOneYear2017-12-31 04624269core:AfterOneYear2016-12-31 04624269core:ShareCapital2017-12-31 04624269core:ShareCapital2016-12-31 04624269core:RetainedEarningsAccumulatedLosses2017-12-31 04624269core:RetainedEarningsAccumulatedLosses2016-12-31 04624269business:SmallEntities2017-01-012017-12-31 04624269countries:EnglandWales2017-01-012017-12-31 04624269core:AcceleratedTaxDepreciationDeferredTax2017-12-31 04624269core:AcceleratedTaxDepreciationDeferredTax2016-12-31 046242692015-12-31 046242692016-01-012016-12-31 iso4217:GBP xbrli:pure
Company Registration No. 04624269 (England and Wales)
Lioncall Ltd Unaudited accounts for the year ended 31 December 2017
Lioncall Ltd Unaudited accounts Contents
Page
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Lioncall Ltd Company Information for the year ended 31 December 2017
Director
David Reich
Company Number
04624269 (England and Wales)
Registered Office
99 CLAPTON COMMON LONDON E5 9AB ENGLAND
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Lioncall Ltd Statement of financial position as at 31 December 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Investment property
4
1,482,317 
1,482,317 
Current assets
Debtors
5
- 
2,643 
Cash at bank and in hand
2,964 
4,795 
2,964 
7,438 
Creditors: amounts falling due within one year
6
(225,364)
(222,897)
Net current liabilities
(222,400)
(215,459)
Total assets less current liabilities
1,259,917 
1,266,858 
Creditors: amounts falling due after more than one year
7
(391,111)
(423,087)
Provisions for liabilities
Deferred tax
8
(85,213)
(97,838)
Net assets
783,593 
745,933 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
783,592 
745,932 
Shareholders' funds
783,593 
745,933 
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 20 September 2018.
David Reich Director Company Registration No. 04624269
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Lioncall Ltd Notes to the Accounts for the year ended 31 December 2017
1
Statutory information
Lioncall Ltd is a private company, limited by shares, registered in England and Wales, registration number 04624269. The registered office is 99 CLAPTON COMMON, LONDON, E5 9AB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
4
Investment property
2017 
£ 
Fair value at 1 January 2017
1,482,317 
At 31 December 2017
1,482,317 
5
Debtors
2017 
2016 
£ 
£ 
Trade debtors
- 
2,643 
6
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
31,000 
30,692 
Taxes and social security
2,575 
2,775 
Other creditors
190,709 
188,350 
Accruals
1,080 
1,080 
225,364 
222,897 
7
Creditors: amounts falling due after more than one year
2017 
2016 
£ 
£ 
Bank loans
391,111 
423,087 
8
Deferred taxation
2017 
2016 
£ 
£ 
Accelerated capital allowances
85,213 
97,838 
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Lioncall Ltd Notes to the Accounts for the year ended 31 December 2017
2017 
2016 
£ 
£ 
Provision at start of year
97,838 
102,722 
Credited to the profit and loss account
(12,625)
(4,884)
Provision at end of year
85,213 
97,838 
9
Average number of employees
During the year the average number of employees was 0 (2016: 0).
10
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 January 2016 
31 December 2016 
£ 
£ 
Capital and reserves (as previously stated)
856,890 
843,771 
Deferred tax
(102,722)
(97,838)
Capital and reserves (as restated)
754,168 
745,933 
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2017. The following were changes in accounting policies arising from the transition to FRS 102: (a) Investment properties Previously, the company's investment properties were held at market value, with aggregate surplus or deficit being recorded in the revaluation reserve, with the exception of permanent diminutions in value which were written off through the profit and loss account. Under FRS 102, these properties are held at fair value, with changes in fair value being recorded in the profit and loss account. (b) Deferred tax on unrealised gains and losses on investment properties Previously, no deferred tax was recognised on the timing differences between the accounting and tax treatment of the revaluation of the company's investment properties. Under FRS 102, deferred tax is recognised on the difference between the cost for tax purposes and the fair value of the company's investment properties, with movements recorded in the profit and loss account.
Reconciliation of profit or loss for the year
31 December 2016 
£ 
Profit for the year (as previously stated)
(11,629)
Deferred Tax
4,884 
Profit for the year (as restated)
(6,745)
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