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Litelines Limited

Financial Statements for the Year Ended 31 March 2023






Litelines Limited (Registered number: 04605550)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Litelines Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: Mr P Bergman
Mr O Prevezer





REGISTERED OFFICE: Unit 17 Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW





REGISTERED NUMBER: 04605550 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Litelines Limited (Registered number: 04605550)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,388 1,331

CURRENT ASSETS
Stocks 113,668 112,932
Debtors 5 125,625 107,472
Cash at bank and in hand 83,929 74,920
323,222 295,324
CREDITORS
Amounts falling due within one year 6 126,127 105,418
NET CURRENT ASSETS 197,095 189,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

220,483

191,237

CREDITORS
Amounts falling due after more than one
year

7

33,117

41,667
NET ASSETS 187,366 149,570

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 187,266 149,470
SHAREHOLDERS' FUNDS 187,366 149,570

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.

Litelines Limited (Registered number: 04605550)

Balance Sheet - continued
31 March 2023


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 10 November 2023 and were signed on its behalf by:





Mr P Bergman - Director


Litelines Limited (Registered number: 04605550)

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

1. STATUTORY INFORMATION

Litelines Limited 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 7,617 13,896 21,513
Additions - 30,045 30,045
At 31 March 2023 7,617 43,941 51,558
DEPRECIATION
At 1 April 2022 7,042 13,140 20,182
Charge for year 288 7,700 7,988
At 31 March 2023 7,330 20,840 28,170
NET BOOK VALUE
At 31 March 2023 287 23,101 23,388
At 31 March 2022 575 756 1,331

Litelines Limited (Registered number: 04605550)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 125,625 107,472

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,459 -
Hire purchase contracts 5,055 -
Trade creditors 75,855 60,513
Corporation tax 15,068 21,136
PAYE 1,878 1,885
VAT 10,553 5,331
Pension fund 686 29
Credit card 4,094 498
Directors' current accounts 3,304 9,351
Accrued expenses 1,175 6,675
126,127 105,418

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 8,459 10,000
Bank loans - 2-5 years 9,877 31,667
Hire purchase contracts 14,781 -
33,117 41,667

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 A Ordinary £1 51 51
49 B Ordinary £1 49 49
100 100