IRIS Accounts Production v23.3.0.418 11854891 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure118548912022-03-31118548912023-03-31118548912022-04-012023-03-31118548912021-03-31118548912021-04-012022-03-31118548912022-03-3111854891ns16:EnglandWales2022-04-012023-03-3111854891ns15:PoundSterling2022-04-012023-03-3111854891ns11:Director12022-04-012023-03-3111854891ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3111854891ns11:SmallEntities2022-04-012023-03-3111854891ns11:AuditExemptWithAccountantsReport2022-04-012023-03-3111854891ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3111854891ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3111854891ns11:FullAccounts2022-04-012023-03-311185489112022-04-012023-03-3111854891ns11:Director22022-04-012023-03-3111854891ns11:RegisteredOffice2022-04-012023-03-3111854891ns6:CurrentFinancialInstruments2023-03-3111854891ns6:CurrentFinancialInstruments2022-03-3111854891ns6:Non-currentFinancialInstruments2023-03-3111854891ns6:Non-currentFinancialInstruments2022-03-3111854891ns6:ShareCapital2023-03-3111854891ns6:ShareCapital2022-03-3111854891ns6:RetainedEarningsAccumulatedLosses2023-03-3111854891ns6:RetainedEarningsAccumulatedLosses2022-03-3111854891ns6:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3111854891ns6:PatentsTrademarksLicencesConcessionsSimilar2022-04-012023-03-3111854891ns6:IntangibleAssetsOtherThanGoodwill2022-03-3111854891ns6:IntangibleAssetsOtherThanGoodwill2023-03-3111854891ns6:IntangibleAssetsOtherThanGoodwill2022-03-3111854891ns6:FurnitureFittings2022-03-3111854891ns6:ComputerEquipment2022-03-3111854891ns6:FurnitureFittings2022-04-012023-03-3111854891ns6:ComputerEquipment2022-04-012023-03-3111854891ns6:FurnitureFittings2023-03-3111854891ns6:ComputerEquipment2023-03-3111854891ns6:FurnitureFittings2022-03-3111854891ns6:ComputerEquipment2022-03-3111854891ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3111854891ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3111854891ns11:Director112022-03-3111854891ns11:Director112021-03-3111854891ns11:Director112022-04-012023-03-3111854891ns11:Director112021-04-012022-03-3111854891ns11:Director112023-03-3111854891ns11:Director112022-03-31
REGISTERED NUMBER: 11854891 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Lolly Labs Ltd

Lolly Labs Ltd (Registered number: 11854891)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Lolly Labs Ltd

Company Information
for the year ended 31 March 2023







DIRECTORS: D J Cooper
C Fallon





REGISTERED OFFICE: 2 Maple Court
Davenport Street
Macclesfield
Cheshire
SK10 1JE





REGISTERED NUMBER: 11854891 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Lolly Labs Ltd (Registered number: 11854891)

Balance Sheet
31 March 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 172 330
Tangible assets 5 4,360 6,355
4,532 6,685

CURRENT ASSETS
Debtors 6 81,353 157,245
Cash at bank 16,756 16,633
98,109 173,878
CREDITORS
Amounts falling due within one year 7 (91,664 ) (101,507 )
NET CURRENT ASSETS 6,445 72,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,977

79,056

CREDITORS
Amounts falling due after more than one year 8 (30,516 ) (32,387 )

PROVISIONS FOR LIABILITIES (828 ) (1,208 )
NET (LIABILITIES)/ASSETS (20,367 ) 45,461

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (20,368 ) 45,460
SHAREHOLDERS' FUNDS (20,367 ) 45,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:




D J Cooper - Director


Lolly Labs Ltd (Registered number: 11854891)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Lolly Labs Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to a notable milestone.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:


Computer equipment- 33% on cost
Office equipment - 20% on cost
Office refurbishment- 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Lolly Labs Ltd (Registered number: 11854891)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Government grants
Government grants in respect of the Coronavirus Job Retention Scheme is recognised within the Income Statement on an accruals basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 April 2022
and 31 March 2023 793
AMORTISATION
At 1 April 2022 463
Charge for year 158
At 31 March 2023 621
NET BOOK VALUE
At 31 March 2023 172
At 31 March 2022 330

5. TANGIBLE FIXED ASSETS
Office Computer
equipment equipment Totals
£ £ £
COST
At 1 April 2022
and 31 March 2023 7,068 4,246 11,314
DEPRECIATION
At 1 April 2022 2,024 2,935 4,959
Charge for year 1,098 897 1,995
At 31 March 2023 3,122 3,832 6,954
NET BOOK VALUE
At 31 March 2023 3,946 414 4,360
At 31 March 2022 5,044 1,311 6,355

Lolly Labs Ltd (Registered number: 11854891)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 73,825 50,823
Other debtors 7,528 106,422
81,353 157,245

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 9,753 12,886
Trade creditors 20,571 9,186
Taxation and social security 53,023 77,785
Other creditors 8,317 1,650
91,664 101,507

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 30,516 32,387

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £0.01 1 1

On 28/09/2022 a sub-division of shares of 1 share at £1 was sub-divided to 100 shares at £0.01 per share.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£ £
D J Cooper
Balance outstanding at start of year 48,360 52,466
Amounts advanced 83,720 68,894
Amounts repaid (132,107 ) (73,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27 ) 48,360

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Lolly Labs Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lolly Labs Ltd for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lolly Labs Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lolly Labs Ltd and state those matters that we have agreed to state to the Board of Directors of Lolly Labs Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lolly Labs Ltd and its Board of Directors, as a body, for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the financial statements of Lolly Labs 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 financial statements.






Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE


9 November 2023