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Registered Number: 10323838
England and Wales

 

 

 

LYDIA SMITH LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2022

End date: 31 January 2023
Director Lydia Smith
Registered Number 10323838
Registered Office 49 Somerset Street
Abertillery
Gwent
NP13 1DL
Accountants Child and Child Accountants Ltd
49 Somerset Street
Abertillery
NP13 1DL
1
  2023   2022
    £ £   £ £
Fixed assets   31,308      41,663 
Current assets 37,332      41,691   
Prepayments and accrued income 2,667      2,667   
Creditors: amount falling due within one year (78,266)     (82,160)  
Net current liabilities   (38,267)     (37,802)
Total assets less current liabilities   (6,959)     3,861 
Net liabilities   (6,959)     3,861 
 

         
Capital and reserves   (6,959)     3,861 
 
NOTES TO THE ACCOUNTS

General Information
LYDIA SMITH LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10323838, registration address 49 Somerset Street, Abertillery, Gwent, NP13 1DL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – 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 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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 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
Computer Equipment 33% Straight Line
2.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 February 2022 14,414    6,605    21,019 
Additions    
Disposals    
At 31 January 2023 14,414    6,605    21,019 
Depreciation
At 01 February 2022 11,264    6,342    17,606 
Charge for year 2,450    255    2,705 
On disposals    
At 31 January 2023 13,714    6,597    20,311 
Net book values
Closing balance as at 31 January 2023 700    8    708 
Opening balance as at 01 February 2022 3,150    263    3,413 


3.

Staff Costs

2023   2022
 
Average number of employees during the year Number   Number
Administration 1    1 
Sales 1    1 
 

4.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).


For the year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 09 October 2023 and were signed by:


--------------------------------
Lydia Smith
Director
2