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Registration number: 13061954

Lilac Cottage Larder Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 4 December 2020 to 31 December 2021

 

Lilac Cottage Larder Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Lilac Cottage Larder Ltd

Company Information

Directors

Heather Rachel Shore

Mr Morgan Jay Shore

Registered office

Lilac Cottage
Silver Street
Kilmington
Axminster
Devon
EX13 7SN

Accountants

CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lilac Cottage Larder Ltd
for the Period Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lilac Cottage Larder Ltd for the period ended 31 December 2021 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Lilac Cottage Larder Ltd , as a body, in accordance with the terms of our engagement letter dated 19 March 2021. Our work has been undertaken solely to prepare for your approval the accounts of Lilac Cottage Larder Ltd and state those matters that we have agreed to state to the Board of Directors of Lilac Cottage Larder Ltd , as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lilac Cottage Larder Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lilac Cottage Larder Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Lilac Cottage Larder Ltd . You consider that Lilac Cottage Larder Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Lilac Cottage Larder 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 accounts.




CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX246JU

 

Lilac Cottage Larder Ltd

(Registration number: 13061954)
Abridged Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

3,878

-

Current assets

 

Stocks

5

5,980

-

Debtors

6

2,502

-

Cash at bank and in hand

 

859

-

 

9,341

-

Creditors: Amounts falling due within one year

7

(14,009)

-

Net current liabilities

 

(4,668)

-

Total assets less current liabilities

 

(790)

-

Accruals and deferred income

 

(675)

-

Net liabilities

 

(1,465)

-

Capital and reserves

 

Called up share capital

9

100

-

Retained earnings

(1,565)

-

Shareholders' deficit

 

(1,465)

-

For the financial period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Lilac Cottage Larder Ltd

(Registration number: 13061954)
Abridged Balance Sheet as at 31 December 2021

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 September 2022 and signed on its behalf by:
 

Heather Rachel Shore
Director

Mr Morgan Jay Shore
Director

 
     
 

Lilac Cottage Larder Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 4 December 2020 to 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Lilac Cottage
Silver Street
Kilmington
Axminster
Devon
EX13 7SN
United Kingdom

These financial statements were authorised for issue by the Board on 2 September 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Lilac Cottage Larder Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 4 December 2020 to 31 December 2021

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property, plant & equipment

20% straight line

Office equipment

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Lilac Cottage Larder Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 4 December 2020 to 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0 (2020 - 0).

4

Tangible assets

Office equipment
£

Property, plant & equipment
 £

Total
£

Cost or valuation

Additions

238

4,610

4,848

At 31 December 2021

238

4,610

4,848

Depreciation

Charge for the period

48

922

970

At 31 December 2021

48

922

970

Carrying amount

At 31 December 2021

190

3,688

3,878

5

Stocks

2021
£

2020
£

Raw materials and consumables

5,220

-

Production supplies

760

-

5,980

-

6

Debtors

Debtors includes £Nil (2020 - £Nil) due after more than one year.

7

Creditors: amounts falling due within one year

8

Creditors: amounts falling due after more than one year

9

Share capital

Allotted, called up and fully paid shares

 

Lilac Cottage Larder Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 4 December 2020 to 31 December 2021

 

2021

2020

 

No.

£

No.

£

ordinary of £1 (2020 - £0) each

100

100

-

-