Registered number
12611269
Lylalife Limited
Unaudited Filleted Accounts
31 March 2023
Lylalife Limited
Registered number: 12611269
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 170 170
Tangible assets 4 3,330 4,154
3,500 4,324
Current assets
Stocks 18,767 19,869
Debtors 5 18,727 25,311
Cash at bank and in hand 7,854 17,127
45,348 62,307
Creditors: amounts falling due within one year 6 (190,599) (114,180)
Net current liabilities (145,251) (51,873)
Total assets less current liabilities (141,751) (47,549)
Creditors: amounts falling due after more than one year 7 (61,240) (76,930)
Net liabilities (202,991) (124,479)
Capital and reserves
Called up share capital 80,000 80,000
Profit and loss account (282,991) (204,479)
Shareholders' funds (202,991) (124,479)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Wayne Dobson
Director
Approved by the board on 10 November 2023
Lylalife Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The directors, having regard to the nature, size and complexity of the business have assessed the financial risks affecting the company and its ongoing operations.

The company is an e-commerce subscription-based business in the personal hygiene sector. The market for these products is growing rapidly as the population ages, demonstrating a CAGR of over 8%. Attitudes are changing towards bladder weakness which will stimulate further growth. Our "free delivery to your home" policy is convenient, flexible and represents good value.

The consumer-focused website has gained excellent traction in its first year of trading and 3-year budgets have been prepared which project a month-on-month growth of 15%. These budgets were prepared based on the growth attained in the first year of trading. These forecasts show the business moving into profit in the forthcoming accounting periods.

On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 0
3 Intangible fixed assets £
Trade Marks:
Cost
At 1 April 2022 170
At 31 March 2023 170
Amortisation
At 31 March 2023 -
Net book value
At 31 March 2023 170
At 31 March 2022 170
Trade marks are being being written off in equal annual instalments over its estimated economic life of the asset to which they relate which is considered to be 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 4,685
Additions 115
At 31 March 2023 4,800
Depreciation
At 1 April 2022 531
Charge for the year 939
At 31 March 2023 1,470
Net book value
At 31 March 2023 3,330
At 31 March 2022 4,154
5 Debtors 2023 2022
£ £
Trade debtors 1,546 1,879
Other debtors 17,181 23,432
18,727 25,311
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 171,994 94,149
Taxation and social security costs 866 717
Other creditors 17,739 19,314
190,599 114,180
7 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 61,240 76,930
8 Related party transactions 2023 2022
£ £
During the period the company had the following transactions with related parties.
Transactions with entities with significant influence
Sales to related parties - 591
Amounts owed by related parties - 666
Purchases from related parties 178,402 261,638
Amounts owed to related parties 167,116 91,286
9 Other information
Lylalife Limited is a private company limited by shares and incorporated in England. Its registered office is:
Kingfisher House
St Johns Road
Meadowfield
Durham
DH7 8TZ
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