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REGISTERED NUMBER: 04180827 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LILLICRAP CHILCOTT LIMITED

LILLICRAP CHILCOTT LIMITED (REGISTERED NUMBER: 04180827)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LILLICRAP CHILCOTT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G I Lillicrap
A T B Chilcott
M Bracey
D Skerry
G Morse
J Greenwood





SECRETARY: G I Lillicrap





REGISTERED OFFICE: Landrian House
59-60 Lemon Street
Truro
Cornwall
TR1 2PE





REGISTERED NUMBER: 04180827 (England and Wales)





ACCOUNTANT: Catherine Bennett Ltd
Chartered Accountant
Wheal Harmony House
Solomon Road
Redruth
Cornwall
TR15 1FD

LILLICRAP CHILCOTT LIMITED (REGISTERED NUMBER: 04180827)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,426 9,251
Tangible assets 5 924,915 928,783
936,341 938,034

CURRENT ASSETS
Debtors 6 1,156,246 1,025,101
Prepayments and accrued income 22,100 17,366
Cash at bank and in hand 180,593 1,786,788
1,358,939 2,829,255
CREDITORS
Amounts falling due within one year 7 410,022 662,010
NET CURRENT ASSETS 948,917 2,167,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,885,258

3,105,279

CREDITORS
Amounts falling due after more than one
year

8

(301,515

)

(313,294

)

PROVISIONS FOR LIABILITIES (4,821 ) (4,399 )
NET ASSETS 1,578,922 2,787,586

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 417,810 417,810
Retained earnings 1,161,110 2,369,774
1,578,922 2,787,586

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LILLICRAP CHILCOTT LIMITED (REGISTERED NUMBER: 04180827)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





A T B Chilcott - Director


LILLICRAP CHILCOTT LIMITED (REGISTERED NUMBER: 04180827)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Lillicrap Chilcott 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 33% on cost, 20% on cost, 15% on cost and 15% on reducing balance

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.

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.

LILLICRAP CHILCOTT LIMITED (REGISTERED NUMBER: 04180827)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 33 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023 10,092
Additions 5,500
At 31 December 2023 15,592
AMORTISATION
At 1 January 2023 841
Charge for year 3,325
At 31 December 2023 4,166
NET BOOK VALUE
At 31 December 2023 11,426
At 31 December 2022 9,251

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2023 905,632 163,515 1,069,147
Additions - 6,648 6,648
At 31 December 2023 905,632 170,163 1,075,795
DEPRECIATION
At 1 January 2023 - 140,364 140,364
Charge for year - 10,516 10,516
At 31 December 2023 - 150,880 150,880
NET BOOK VALUE
At 31 December 2023 905,632 19,283 924,915
At 31 December 2022 905,632 23,151 928,783

LILLICRAP CHILCOTT LIMITED (REGISTERED NUMBER: 04180827)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 280,938 358,416
Other debtors - 3,003
Directors' current accounts 875,308 663,682
1,156,246 1,025,101

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 11,417 104,250
Trade creditors 26,427 46,889
Tax 156,928 231,882
Social security and other taxes - 2,144
VAT 153,503 190,163
Other creditors 13,688 13,578
Shareholder loan account 3,077 12,593
Accrued expenses 44,982 60,511
410,022 662,010

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans - 1-2 years 25,917 25,917
Bank loans - 2-5 years 275,598 287,377
301,515 313,294

9. SECURED DEBTS

The following secured debts are included within creditors:

31/12/23 31/12/22
£    £   
Bank loans 312,932 417,544

Lloyds Bank plc have two outstanding charges over the freehold property of Landrian House containing a fixed and floating charge and negative pledge.

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 417,810

11. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the balance sheet date of £5,901 (2022 - £20,070).

LILLICRAP CHILCOTT LIMITED (REGISTERED NUMBER: 04180827)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31/12/23 31/12/22
£    £   
G I Lillicrap
Balance outstanding at start of year 325,348 322,914
Amounts advanced 1,206,834 1,052,434
Amounts repaid (1,096,339 ) (1,050,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 435,843 325,348

A T B Chilcott
Balance outstanding at start of year 338,334 334,088
Amounts advanced 1,088,470 949,246
Amounts repaid (987,339 ) (945,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 439,465 338,334

Interest is chargeable on overdrawn directors loan account balances in excess of £10,000 at 2-2.25%. The loan is repayable on demand.