Lily & Finch Limited 12537592 true 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true L Yearwood true 12537592 2022-04-01 2023-03-31 12537592 2023-03-31 12537592 bus:OrdinaryShareClass1 2023-03-31 12537592 core:RetainedEarningsAccumulatedLosses 2023-03-31 12537592 core:ShareCapital 2023-03-31 12537592 core:CurrentFinancialInstruments 2023-03-31 12537592 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12537592 bus:FRS102 2022-04-01 2023-03-31 12537592 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12537592 bus:FullAccounts 2022-04-01 2023-03-31 12537592 bus:RegisteredOffice 2022-04-01 2023-03-31 12537592 bus:Director1 2022-04-01 2023-03-31 12537592 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 12537592 bus:EntityNoLongerTradingButTradedInPast 2022-04-01 2023-03-31 12537592 bus:Consolidated 2022-04-01 2023-03-31 12537592 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12537592 countries:EnglandWales 2022-04-01 2023-03-31 12537592 2021-04-01 2022-03-31 12537592 2022-03-31 12537592 bus:OrdinaryShareClass1 2022-03-31 12537592 core:RetainedEarningsAccumulatedLosses 2022-03-31 12537592 core:ShareCapital 2022-03-31 12537592 core:CurrentFinancialInstruments 2022-03-31 12537592 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12537592

Lily & Finch Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Lily & Finch Limited

Profit and Loss Account for the Year Ended 31 March 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Lily & Finch Limited

(Registration number: 12537592)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

2

2

Cash at bank and in hand

 

514,283

514,283

 

514,285

514,285

Creditors: Amounts falling due within one year

6

(532,127)

(532,127)

Net liabilities

 

(17,842)

(17,842)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(17,844)

(17,844)

Shareholders' deficit

 

(17,842)

(17,842)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's 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 director acknowledges her 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.

Approved and authorised by the director on 29 November 2023
 


L Yearwood
Director

 

Lily & Finch Limited

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

1

General information

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

The address of its registered office is:
Loftus
Wych Hill Lane
Woking
Surrey
GU22 0AB
England

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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.

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

 

Lily & Finch Limited

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

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 the director) during the year, was 1 (2022 - 1).

4

Debtors

2023
£

2022
£

Other debtors

2

2

2

2

5

Cash and cash equivalents

2023
£

2022
£

Cash at bank

514,283

514,283

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

531,627

531,627

Accruals

 

500

500

 

532,127

532,127

 

Lily & Finch Limited

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

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinery shares of £1 each

2

2

2

2

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

531,627

531,627