Registered number
07797789
Lime Orange Ltd
Filleted Accounts
31 October 2023
Lime Orange Ltd
Registered number: 07797789
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,928 3,426
Current assets
Stocks 10,170 10,410
Debtors 4 86,744 2,376
Investments held as current assets 5 97,003 97,003
Cash at bank and in hand 47,917 68,040
241,834 177,829
Creditors: amounts falling due within one year 6 (84,818) (113,283)
Net current assets 157,016 64,546
Total assets less current liabilities 164,944 67,972
Creditors: amounts falling due after more than one year 7 (70,677) (36,499)
Net assets 94,267 31,473
Capital and reserves
Called up share capital 100 100
Profit and loss account 94,167 31,373
Shareholders' funds 94,267 31,473
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S Y Lee
Director
Approved by the board on 8 April 2024
Lime Orange Ltd
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 13
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 27,663
Additions 7,145
At 31 October 2023 34,808
Depreciation
At 1 November 2022 24,237
Charge for the year 2,643
At 31 October 2023 26,880
Net book value
At 31 October 2023 7,928
At 31 October 2022 3,426
4 Debtors 2023 2022
£ £
Trade debtors 3,145 153
Amounts owed by group undertakings and undertakings in which the company has a participating interest 70,000 -
Other debtors 13,599 2,223
86,744 2,376
5 Investments held as current assets 2023 2022
£ £
Fair value
Unlisted investments 97,003 97,003
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 6,779 9,568
Taxation and social security costs 16,161 39,735
Other creditors 61,878 63,980
84,818 113,283
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 70,677 36,499
8 Other information
Lime Orange Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 41, Chessington Business Centre
37 Cox Lane
Chessington
Surrey
KT9 1SD
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