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Registration number: 13390862

Lilac Cottage Property Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Lilac Cottage Property Management Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Lilac Cottage Property Management Limited

Company Information

Directors

Mrs Sally Boffee

Nicholas Boffee

Registered office

Longacre
Maypole Lane
Yapton
West Sussex
BN18 0DR

Accountants

Matthews Hanton Limited
Chartered Certified Accountants
93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

Lilac Cottage Property Management Limited

(Registration number: 13390862)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

44,417

44,417

Other financial assets

5

20

20

 

44,437

44,437

Current assets

 

Debtors

6

80

80

Cash at bank and in hand

 

2,032

2,845

 

2,112

2,925

Creditors: Amounts falling due within one year

7

(48,000)

(48,000)

Net current liabilities

 

(45,888)

(45,075)

Net liabilities

 

(1,451)

(638)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(1,551)

(738)

Shareholders' deficit

 

(1,451)

(638)

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 November 2023 and signed on its behalf by:
 

 

Lilac Cottage Property Management Limited

(Registration number: 13390862)
Balance Sheet as at 31 May 2023

.........................................
Mrs Sally Boffee
Director

.........................................
Nicholas Boffee
Director

 

Lilac Cottage Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Longacre
Maypole Lane
Yapton
West Sussex
BN18 0DR
United Kingdom

These financial statements were authorised for issue by the Board on 24 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Lilac Cottage Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 June 2022

44,417

44,417

At 31 May 2023

44,417

44,417

Depreciation

Carrying amount

At 31 May 2023

44,417

44,417

At 31 May 2022

44,417

44,417

Included within the net book value of land and buildings above is £44,417 (2022 - £44,417) in respect of freehold land and buildings.
 

 

Lilac Cottage Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2022

20

20

At 31 May 2023

20

20

Impairment

Carrying amount

At 31 May 2023

20

20

6

Debtors

Current

2023
£

2022
£

Other debtors

80

80

 

80

80

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

48,000

48,000

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100