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Registered Number: 08935106
England and Wales

 

 

 

LILYS FLOWERS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 April 2021

End date: 31 March 2022
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 March 2022 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
JVF Accounts Limited
31 March 2022



....................................................
JVF Accounts Limited
2 Ford Road
Woking
Surrey
GU22 9HP
16 August 2022
1
 
 
Notes
 
2022
£
  2021
£
Fixed assets      
Intangible fixed assets 2,000    3,000 
Tangible fixed assets 14,429    3,102 
16,429    6,102 
Current assets      
Stocks 2,000    2,000 
Debtors 35,887    17,908 
Cash at bank and in hand 110,466    114,603 
148,353    134,511 
Creditors: amount falling due within one year (119,336)   (104,457)
Net current assets 29,017    30,054 
 
Total assets less current liabilities 45,446    36,156 
Provisions for liabilities (2,741)   (589)
Net assets 42,705    35,567 
 

Capital and reserves
     
Called up share capital 102    102 
Profit and loss account 42,603    35,465 
Shareholder's funds 42,705    35,567 
 


For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 16 August 2022 and were signed on its behalf by:


--------------------------------
Rebecca Ellis
Director
2
General Information
Lilys Flowers Limited is a private company, limited by shares, registered in England and Wales, registration number 08935106, registration address 11 Broadway Green Farm, Broadway Road, Lightwater, Surrey, GU18 5SU

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 25% Straight Line
Fixtures and Fittings 20% Straight Line
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

The average number of employees for the year ended 31 March 2020 was 4
Average number of employees during the year was 4 (2021 : 4).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 April 2021 10,000    10,000 
Additions  
Disposals  
At 31 March 2022 10,000    10,000 
Amortisation
At 01 April 2021 7,000    7,000 
Charge for year 1,000    1,000 
On disposals  
At 31 March 2022 8,000    8,000 
Net book values
At 31 March 2022 2,000    2,000 
At 31 March 2021 3,000    3,000 


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £   £
At 01 April 2021 1,034    1,880    28,534    1,400    32,848 
Additions   1,146    11,917    3,613    16,676 
Disposals        
At 31 March 2022 1,034    3,026    40,451    5,013    49,524 
Depreciation
At 01 April 2021 1,034    1,821    25,597    1,294    29,746 
Charge for year   294    4,923    132    5,349 
On disposals        
At 31 March 2022 1,034    2,115    30,520    1,426    35,095 
Net book values
Closing balance as at 31 March 2022   911    9,931    3,587    14,429 
Opening balance as at 01 April 2021   59    2,937    106    3,102 


5.

Share Capital

Allotted, called up and fully paid
2022
£
  2021
£
102 Class A shares of £1.00 each 102    102 
102    102 

3