REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
28 February 2023 |
for |
Lizzie Armitstead Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
28 February 2023 |
for |
Lizzie Armitstead Ltd |
Lizzie Armitstead Ltd (Registered number: 07528375) |
Contents of the Financial Statements |
for the Year Ended 28 February 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Lizzie Armitstead Ltd (Registered number: 07528375) |
Balance Sheet |
28 February 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Lizzie Armitstead Ltd (Registered number: 07528375) |
Notes to the Financial Statements |
for the Year Ended 28 February 2023 |
1. | STATUTORY INFORMATION |
Lizzie Armitstead Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention. |
Turnover |
Turnover from the supply of services represents the fair value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion and the contract activity at the balance sheet date. |
Taxation |
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting. |
Lizzie Armitstead Ltd (Registered number: 07528375) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument. |
All financial assets and liabilities are initially measured at transaction price (including transaction costs). If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
The following assets and liabilities are classified as basic financial instruments - other debtors, bank balances and other creditors and are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received. |
Impairment of assets |
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below. |
Non financial assets |
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. |
Financial assets |
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date. |
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
2023 | 2022 |
£ | £ |
Allotted, issued and fully paid | 1 | 1 |
Lizzie Armitstead Ltd (Registered number: 07528375) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2023 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The outstanding balance has been repaid since the balance sheet date. |