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REGISTERED NUMBER: 08703208 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

LILYWOOD CARPENTRY LIMITED

LILYWOOD CARPENTRY LIMITED (REGISTERED NUMBER: 08703208)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LILYWOOD CARPENTRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: L J Murphy





REGISTERED OFFICE: 13 West Walk
East Barnet
Hertfordshire
EN4 8NT





REGISTERED NUMBER: 08703208 (England and Wales)





ACCOUNTANTS: BENEDICTS
873 High Road
North Finchley
London
N12 8QA

LILYWOOD CARPENTRY LIMITED (REGISTERED NUMBER: 08703208)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 481 960

CURRENT ASSETS
Stocks 2,500 9,300
Debtors 5 51,292 30,135
Cash at bank 2,838 4,508
56,630 43,943
CREDITORS
Amounts falling due within one year 6 22,066 22,862
NET CURRENT ASSETS 34,564 21,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

35,045

22,041

CREDITORS
Amounts falling due after more than one
year

7

(34,825

)

(35,997

)

PROVISIONS FOR LIABILITIES (91 ) (182 )
NET ASSETS/(LIABILITIES) 129 (14,138 )

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 128 (14,139 )
SHAREHOLDERS' FUNDS 129 (14,138 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LILYWOOD CARPENTRY LIMITED (REGISTERED NUMBER: 08703208)

BALANCE SHEET - continued
30 JUNE 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 director and authorised for issue on 16 November 2023 and were signed by:





L J Murphy - Director


LILYWOOD CARPENTRY LIMITED (REGISTERED NUMBER: 08703208)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Lilywood Carpentry 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tools & Equipments - 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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.


LILYWOOD CARPENTRY LIMITED (REGISTERED NUMBER: 08703208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Tools & Computer
Equipments equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 1,538 1,229 2,767
DEPRECIATION
At 1 July 2022 1,264 543 1,807
Charge for year 69 410 479
At 30 June 2023 1,333 953 2,286
NET BOOK VALUE
At 30 June 2023 205 276 481
At 30 June 2022 274 686 960

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 30,135
Corporation tax recoverable 12,488 -
Directors' loan accounts 37,000 -
VAT 1,804 -
51,292 30,135

LILYWOOD CARPENTRY LIMITED (REGISTERED NUMBER: 08703208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,866 11,196
Trade creditors - 4,160
Taxation 13,095 4,128
Social security and other taxes 1,105 1,927
VAT - 1,451
22,066 22,862

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 34,825 35,997

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1 Ordinary 1 1 1

9. RESERVES
Retained
earnings
£   

At 1 July 2022 (14,139 )
Profit for the year 14,267
At 30 June 2023 128

LILYWOOD CARPENTRY LIMITED (REGISTERED NUMBER: 08703208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
L J Murphy
Balance outstanding at start of year - -
Amounts advanced 37,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,000 -