Lion Design Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07092608 (England and Wales)

LION DESIGN LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N J White

REGISTERED OFFICE:

Caledonia Works

43 Mowbray Street

Sheffield

South Yorkshire

S3 8EN

REGISTERED NUMBER:

07092608 (England and Wales)

ACCOUNTANTS:

Duncan Chartered Accountants

5 Cherrytree

Union Road

Sheffield

South Yorkshire

S11 9EF

FIXED ASSETS

Tangible assets

4

702

936

CURRENT ASSETS

Stocks

2,320

2,320

Debtors

5

32,371

16,836

Prepayments and accrued income

7,700

5,692

Cash at bank

67

5

42,458

24,853

CREDITORS

Amounts falling due within one year

6

42,772

25,506

NET CURRENT LIABILITIES

(314

)

(653

)

TOTAL ASSETS LESS CURRENT LIABILITIES

388

283

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

288

183

SHAREHOLDERS' FUNDS

388

283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 September 2018 and were signed by:

N J White - Director

1.	STATUTORY INFORMATION

Lion Design 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2017

and 31 December 2017

2,468

DEPRECIATION

At 1 January 2017

1,532

Charge for year

234

At 31 December 2017

1,766

NET BOOK VALUE

At 31 December 2017

702

At 31 December 2016

936

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

17,902

12,155

Other debtors

14,469

4,681

32,371

16,836

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Tax

20,030

9,956

Social security and other taxes

-

153

VAT

10,795

6,066

Accrued expenses

11,947

9,331

42,772

25,506

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.17

31.12.16

value:

£

£

100

Ordinary

£1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017

and 31 December 2016:

31.12.17

31.12.16

£

£

N J White

Balance outstanding at start of year

4,681

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,920

4,681

The maximum balance outstanding in the year was £42,966.

Interest has been charged at HMRC official rates by the company on the overdrawn amount.