REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th June 2018 |
for |
LILY BELLE LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30th June 2018 |
for |
LILY BELLE LTD |
LILY BELLE LTD (REGISTERED NUMBER: 06864286) |
Contents of the Financial Statements |
for the Year Ended 30th June 2018 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
LILY BELLE LTD |
Company Information |
for the Year Ended 30th June 2018 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
14 Queens Road |
Hersham |
Walton on Thames |
Surrey |
KT12 5LS |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Lily Belle Ltd |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Lily Belle Ltd for the year ended 30th June 2018 which comprise the Income Statement, Balance |
Sheet and the related notes from the company's accounting records and from information and explanations you have |
given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Lily Belle Ltd, as a body, in accordance with the terms of our engagement letter dated 18th July 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Lily Belle Ltd and state those matters that we have agreed to state to the Board of Directors of Lily Belle Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lily Belle Ltd and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Lily Belle Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lily Belle Ltd. You consider that Lily Belle Ltd is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Lily Belle Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
14 Queens Road |
Hersham |
Walton on Thames |
Surrey |
KT12 5LS |
Date: ............................................. |
LILY BELLE LTD (REGISTERED NUMBER: 06864286) |
Balance Sheet |
30th June 2018 |
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
LILY BELLE LTD (REGISTERED NUMBER: 06864286) |
Balance Sheet - continued |
30th June 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 by: |
LILY BELLE LTD (REGISTERED NUMBER: 06864286) |
Notes to the Financial Statements |
for the Year Ended 30th June 2018 |
1. | STATUTORY INFORMATION |
Lily Belle Ltd is a |
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 |
Turnover |
Turnover represents the amounts receivable for goods supplied net of VAT. 97.1% of sales relate to the UK |
market. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Financial instruments |
The company only enters into basic financial 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, loans to |
related parties and investments in non-puttable ordinary shares |
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other |
accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently |
at amortised cost using the effective interest method. Debt instruments that are payable or relivable within one |
year, typically trade debtors and creditors, are measured. initially and subsequently, at the undiscounted amount |
of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term |
instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business |
terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at |
market rate, the financial asset or liability is measured, initially , at the present value of the future cash flow |
discounted at a market rate of interest for similar debt instrument and subsequently at amotised cost. |
Financial asset's 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 Statement of Comprehensive income. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
asset's carrying amount and the net present value of estimated cash flows discounted at the asset's original |
effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any |
impairment loss is the current effective interest rate determined under the contract. |
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when |
there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or |
to realise the asset and settle the liability simultaneously. |
LILY BELLE LTD (REGISTERED NUMBER: 06864286) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2018 |
2. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st July 2017 |
Additions |
At 30th June 2018 |
DEPRECIATION |
At 1st July 2017 |
Charge for year |
At 30th June 2018 |
NET BOOK VALUE |
At 30th June 2018 |
At 30th June 2017 |
LILY BELLE LTD (REGISTERED NUMBER: 06864286) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2018 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £20,000 (2017 - £60,000) were paid to the directors . |
8. | ULTIMATE CONTROLLING PARTY |
The two directors control the company. |