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Company No: 13759652 (England and Wales)

LILIOL HOMES LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

LILIOL HOMES LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

LILIOL HOMES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
LILIOL HOMES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
30.11.2023 30.11.2022
£ £
Current assets
Stocks 138,818 130,168
Debtors 3 741 23
Cash at bank and in hand 28,648 10,299
168,207 140,490
Creditors: amounts falling due within one year 4 ( 176,134) ( 132,198)
Net current (liabilities)/assets (7,927) 8,292
Total assets less current liabilities (7,927) 8,292
Net (liabilities)/assets ( 7,927) 8,292
Capital and reserves
Called-up share capital 5 20,000 20,000
Profit and loss account ( 27,927 ) ( 11,708 )
Total shareholders' (deficit)/funds ( 7,927) 8,292

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Liliol Homes Limited (registered number: 13759652) were approved and authorised for issue by the Director on 12 February 2024. They were signed on its behalf by:

D Lewis
Director
LILIOL HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
LILIOL HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

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.

General information and basis of accounting

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 £.

Going concern

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Year ended
30.11.2023
Period from
23.11.2021 to
30.11.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

30.11.2023 30.11.2022
£ £
VAT recoverable 741 23

4. Creditors: amounts falling due within one year

30.11.2023 30.11.2022
£ £
Trade creditors 0 138
Amounts owed to directors 151,798 121,660
Accruals 24,336 10,400
176,134 132,198

5. Called-up share capital

30.11.2023 30.11.2022
£ £
Allotted, called-up and fully-paid
100 A Ordinary shares of £ 100.00 each 10,000 10,000
100 B Ordinary shares of £ 100.00 each 10,000 10,000
20,000 20,000

6. Related party transactions

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.