Lydia Mee Homes Limited 10644755 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true 10644755 2022-04-01 2023-03-31 10644755 2023-03-31 10644755 core:RetainedEarningsAccumulatedLosses 2023-03-31 10644755 core:ShareCapital 2023-03-31 10644755 core:CurrentFinancialInstruments 2023-03-31 10644755 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10644755 core:Non-currentFinancialInstruments 2023-03-31 10644755 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 10644755 core:FurnitureFittingsToolsEquipment 2023-03-31 10644755 bus:SmallEntities 2022-04-01 2023-03-31 10644755 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10644755 bus:FullAccounts 2022-04-01 2023-03-31 10644755 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10644755 bus:RegisteredOffice 2022-04-01 2023-03-31 10644755 bus:Director1 2022-04-01 2023-03-31 10644755 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10644755 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 10644755 core:OfficeEquipment 2022-04-01 2023-03-31 10644755 countries:EnglandWales 2022-04-01 2023-03-31 10644755 2022-03-31 10644755 core:FurnitureFittingsToolsEquipment 2022-03-31 10644755 2021-04-01 2022-03-31 10644755 2022-03-31 10644755 core:RetainedEarningsAccumulatedLosses 2022-03-31 10644755 core:ShareCapital 2022-03-31 10644755 core:CurrentFinancialInstruments 2022-03-31 10644755 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 10644755 core:Non-currentFinancialInstruments 2022-03-31 10644755 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 10644755 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 10644755

Lydia Mee Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Lydia Mee Homes Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Lydia Mee Homes Limited

(Registration number: 10644755)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

755

1,550

Current assets

 

Debtors

5

273,179

165,670

Cash at bank and in hand

 

5,222

4

 

278,401

165,674

Creditors: Amounts falling due within one year

6

(290,970)

(157,653)

Net current (liabilities)/assets

 

(12,569)

8,021

Total assets less current liabilities

 

(11,814)

9,571

Creditors: Amounts falling due after more than one year

6

(11,367)

(17,333)

Net liabilities

 

(23,181)

(7,762)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(23,182)

(7,763)

Shareholders' deficit

 

(23,181)

(7,762)

For the financial year ending 31 March 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; and

The director acknowledges her 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 October 2023
 

.........................................
Miss L Mee
Director

 

Lydia Mee Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
1A Lindrick Road
Woodsetts
Worksop
Nottinghamshire
S81 8RD

These financial statements were authorised for issue by the director on 19 October 2023.

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 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 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.

Going concern

The accounts are prepared on the going concern basis but for the reasons set out in the directors report this may not be appropriate.

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.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lydia Mee Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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

Office equipment

25% 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.

Borrowings

 

Lydia Mee Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Lydia Mee Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

5,408

5,408

At 31 March 2023

5,408

5,408

Depreciation

At 1 April 2022

3,858

3,858

Charge for the year

795

795

At 31 March 2023

4,653

4,653

Carrying amount

At 31 March 2023

755

755

At 31 March 2022

1,550

1,550

5

Debtors

2023
£

2022
£

Trade debtors

87,970

150,000

Other debtors

13,323

12,407

Prepayments

171,886

3,263

273,179

165,670

 

Lydia Mee Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

3,789

2,000

Trade creditors

 

59,397

2,435

Amounts owed to related parties

53,418

52,865

Taxation and social security

 

16,063

24,594

Income tax liability

 

-

206

Other creditors

 

156,288

73,553

Accrued expenses

 

2,015

2,000

 

290,970

157,653

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

11,367

17,333

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

11,367

17,333

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,789

2,000