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REGISTERED NUMBER: 04665422 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

C J LILLEY LTD

C J LILLEY LTD (REGISTERED NUMBER: 04665422)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


C J LILLEY LTD (REGISTERED NUMBER: 04665422)

BALANCE SHEET
28 FEBRUARY 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,304 7,787
Investment property 5 1,140,000 931,467
1,146,304 939,254

CURRENT ASSETS
Debtors 6 631 2,152
Cash at bank 14,997 1,772
15,628 3,924
CREDITORS
Amounts falling due within one year 7 482,183 498,236
NET CURRENT LIABILITIES (466,555 ) (494,312 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

679,749

444,942

PROVISIONS FOR LIABILITIES 8 58,393 18,938
NET ASSETS 621,356 426,004

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 9 621,156 425,804
SHAREHOLDERS' FUNDS 621,356 426,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

C J LILLEY LTD (REGISTERED NUMBER: 04665422)

BALANCE SHEET - continued
28 FEBRUARY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 November 2023 and were signed by:





Mrs C J Lilley - Director


C J LILLEY LTD (REGISTERED NUMBER: 04665422)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

C J Lilley Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04665422

Registered office: 3 Cromwell Road
March
Cambridgeshire
PE15 8NA

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 as modified by the revaluation of certain assets.

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.
Improvements to leasehold property - 10% on reducing balance
Office & computer equipment - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment properties are valued every 3 years on an open market basis by the director taking into account current market rents and investment property yields for comparable properties, adjusted if necessary for any difference in the nature, location and condition of the specific property. Any changes in value are charged or credited to the profit and loss account in accordance with FRS 102 Section 1A.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


C J LILLEY LTD (REGISTERED NUMBER: 04665422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Office &
leasehold computer Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 8,679 15,416 12,171 36,266
DEPRECIATION
At 1 March 2022 6,837 11,637 10,005 28,479
Charge for year 184 757 542 1,483
At 28 February 2023 7,021 12,394 10,547 29,962
NET BOOK VALUE
At 28 February 2023 1,658 3,022 1,624 6,304
At 28 February 2022 1,842 3,779 2,166 7,787

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 931,467
Revaluation in the year 208,533
At 28 February 2023 1,140,000
NET BOOK VALUE
At 28 February 2023 1,140,000
At 28 February 2022 931,467

C J LILLEY LTD (REGISTERED NUMBER: 04665422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. INVESTMENT PROPERTY - continued

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2020 931,467
Valuation in 2023 208,533
1,140,000

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
as restated
£    £   
Cost 771,632 771,632

Investment properties were valued on an open market basis on 28 February 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Other debtors 631 2,152

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors - 4,000
Taxation and social security 6,880 10,184
Other creditors 475,303 484,052
482,183 498,236

8. PROVISIONS FOR LIABILITIES
2023 2022
as restated
£    £   
Deferred tax 58,393 18,938

Deferred
tax
£   
Balance at 1 March 2022 18,938
Accelerated capital allowances (201 )
On revaluation of investment
properties 39,656
Balance at 28 February 2023 58,393

C J LILLEY LTD (REGISTERED NUMBER: 04665422)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


8. PROVISIONS FOR LIABILITIES - continued

Analysis of deferred tax provision:-
2023 2022
£ £

Accelerated capital allowances8311,032
Revaluation of investment properties57,56217,906
58,39318,938

9. RESERVES
Retained
earnings
£   

At 1 March 2022 425,804
Profit for the year 197,352
Dividends (2,000 )
At 28 February 2023 621,156

10. TRANSACTIONS WITH DIRECTOR

Included in other creditors falling due within in year is a loan from the director to the company amounting to £473,948 (2021 - £482,851). This loan is non-interest bearing and repayable on demand.

Dividends were paid to the director in the year amounting to £2,000 (2022 - £2,000).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs C J Lilley.