|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 October 2018 |
|
for |
|
LIONRULE LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Statements for the Year Ended 31 October 2018 |
|
for |
|
LIONRULE LIMITED |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 October 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
LIONRULE LIMITED |
|
Company Information |
for the Year Ended 31 October 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
5 North End Road |
London |
NW11 7RJ |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
|
Balance Sheet |
31 October 2018 |
|
31.10.18 | 31.10.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investment property | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Revaluation reserve | 9 |
|
|
Fair value reserve | 9 |
|
|
Retained earnings | 9 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
|
Balance Sheet - continued |
31 October 2018 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
|
Notes to the Financial Statements |
for the Year Ended 31 October 2018 |
|
1. | STATUTORY INFORMATION |
|
Lionrule Limited is a
|
registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
|
Turnover |
Turnover represents rents received. |
|
|
Tangible fixed assets |
|
Office & computer equipment | - |
|
Fixtures and fittings | - |
|
|
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
|
4. | TANGIBLE FIXED ASSETS |
Office & | Fixtures |
computer | and |
equipment | fittings | Totals |
£ | £ | £ |
COST |
At 1 November 2017 |
and 31 October 2018 |
|
|
|
DEPRECIATION |
At 1 November 2017 |
|
|
|
Charge for year |
|
|
|
At 31 October 2018 |
|
|
|
NET BOOK VALUE |
At 31 October 2018 |
|
|
|
At 31 October 2017 |
|
|
|
|
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2017 |
|
Additions |
|
Disposals | ( |
) |
At 31 October 2018 |
|
NET BOOK VALUE |
At 31 October 2018 |
|
At 31 October 2017 |
|
|
The above is the directors valuation at open market value at 31 October 2018. |
|
Historical costs of properties at 31 October 2018 were £9,041,181 (2017: £10,986,510). There was £NIL |
capital commitment at the year end (2017: £NIL). |
|
Fair value at 31 October 2018 is represented by: |
|
£ |
Valuation in 2005 | 12,085,336 |
Valuation in 2016 | 3,259,572 |
Cost | 9,041,181 |
24,386,089 |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Amounts due from group undertakings |
|
|
Other debtors |
|
|
Rental debtor |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Bank loans and overdrafts |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other Creditors |
|
|
Rent rec'd in advance | 60,572 | 59,942 |
Accrued expenses |
|
|
|
|
|
Bank loans and overdrafts are secured on the company's assets. |
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.10.18 | 31.10.17 |
£ | £ |
Bank loans > 5 years |
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans > 5 years | 10,530,000 | 10,800,000 |
|
Bank loans are secured on the company's assets. |
|
9. | RESERVES |
Fair |
Retained | Revaluation | value |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
|
At 1 November 2017 |
|
|
|
19,615,273 |
Profit for the year |
|
- | - |
|
Dividends | ( |
) | - | - | ( |
) |
Transfer to retained reserve |
|
|
( |
) |
|
Deferred tax | (75,133 | ) | - | 75,133 | - |
At 31 October 2018 |
|
|
|
20,586,373 |
|
10. | RELATED PARTY DISCLOSURES |
|
During the year, total dividends of £355,000 were paid to the directors . |
LIONRULE LIMITED (REGISTERED NUMBER: 02929642) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
|
10. | RELATED PARTY DISCLOSURES - continued |
|
Amounts due from other debtors include a loan due from Ramsey Properties Limited amounting to £1,330,715 |
(2017: £1,030,320). Mr Morgenstern & Mr Sheinfeld are directors of Ramsey Properties Limited and each own |
50% of the shares. |
|
Amounts due to other creditors include a loan due to Clevermatch Limited amounting to £274,910 (2017: |
£317,505), and a loan due to Rigband Security Limited amounting to £338,512 (2017: £340,512). Mr Sheinfeld |
is the director and majority shareholder of Clevermatch & Rigband Security Limited. |
|
Amounts dye to other creditors include a loan due to Lionrule Investments Limited amounting to £94,468 (2017: |
£137,524). Mr Morgenstern & Mr Sheinfeld are directors of Lionrule Investments Limited and each own 25% of |
the shares in this company. |
|
The company donated a property with a market value of £220,000 to Nes Foundation Limtied, a UK Registered |
charity. Mr Morgenstern & Mr Sheinfeld are the Trustees of Nes Foundation Limited. |
|
11. | CONTROLLING PARTY |
|
The company is controlled by Lionrule Holdings Limited. |
|
12. | SECURED DEBT |
|
Creditors include the following secured debts: |
Due within one year £988,873 (2017: £912,000). |
Due after more than one year £10,530,000 (2017: £10,800,000). |