Company No:
Contents
30.11.2023 | 30.11.2022 | |||
£ | £ | |||
Current assets | ||||
Stocks |
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Debtors | 3 |
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Cash at bank and in hand |
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168,207 | 140,490 | |||
Creditors: amounts falling due within one year | 4 | (
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(
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Net current (liabilities)/assets | (7,927) | 8,292 | ||
Total assets less current liabilities | (7,927) | 8,292 | ||
Net (liabilities)/assets | (
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Capital and reserves | ||||
Called-up share capital | 5 |
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Profit and loss account | (
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(
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Total shareholders' (deficit)/funds | (
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Directors' responsibilities:
The financial statements of Liliol Homes Limited (registered number:
D Lewis
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Liliol Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 10 Cory Crescent, Peterston-Super-Ely, Cardiff, CF5 6LS, Wales, United Kingdom.
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Year ended 30.11.2023 |
Period from 23.11.2021 to 30.11.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
VAT recoverable |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to directors |
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Accruals |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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20,000 | 20,000 |
Transactions with the entity's directors
30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Amounts owed to the director | 151,798 | 121,660 |
Included within other creditors are amounts owed to the directors. Interest is accrued on this loan at 10%, with no fixed repayment date.