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REGISTERED NUMBER: 06593312 (England and Wales)














LILI OF THE VALLEY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






LILI OF THE VALLEY LIMITED (REGISTERED NUMBER: 06593312)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LILI OF THE VALLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: L L Ansbergs
L Barnes





REGISTERED OFFICE: 3 Mending Rooms
Sunnybank Mills
Farsley
Pudsey
West Yokshire
LS28 5UJ





REGISTERED NUMBER: 06593312 (England and Wales)





ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

LILI OF THE VALLEY LIMITED (REGISTERED NUMBER: 06593312)

BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 713 950
Tangible assets 5 1,928 2,601
2,641 3,551

CURRENT ASSETS
Stocks 3,385 11,212
Debtors 6 11,183 2,996
Cash in hand 280 290
14,848 14,498
CREDITORS
Amounts falling due within one year 7 15,621 16,077
NET CURRENT LIABILITIES (773 ) (1,579 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,868

1,972

PROVISIONS FOR LIABILITIES 387 494
NET ASSETS 1,481 1,478

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,479 1,476
1,481 1,478

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

LILI OF THE VALLEY LIMITED (REGISTERED NUMBER: 06593312)

BALANCE SHEET - continued
31 MAY 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 20 February 2024 and were signed on its behalf by:





L L Ansbergs - Director


LILI OF THE VALLEY LIMITED (REGISTERED NUMBER: 06593312)

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

1. STATUTORY INFORMATION

Lili of the Valley 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.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised.

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.

Development costs are being amortised at the rate of 25% per annum on a reducing balance basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balance and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.


LILI OF THE VALLEY LIMITED (REGISTERED NUMBER: 06593312)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 22,600 11,592 34,192
AMORTISATION
At 1 June 2022 22,600 10,642 33,242
Charge for year - 237 237
At 31 May 2023 22,600 10,879 33,479
NET BOOK VALUE
At 31 May 2023 - 713 713
At 31 May 2022 - 950 950

LILI OF THE VALLEY LIMITED (REGISTERED NUMBER: 06593312)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 8,706
DEPRECIATION
At 1 June 2022 6,105
Charge for year 673
At 31 May 2023 6,778
NET BOOK VALUE
At 31 May 2023 1,928
At 31 May 2022 2,601

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 11,183 2,996

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,723 11,588
Taxation and social security 3,051 1,757
Other creditors 847 2,732
15,621 16,077

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 13,824 12,667
Between one and five years 6,844 19,001
20,668 31,668

LILI OF THE VALLEY LIMITED (REGISTERED NUMBER: 06593312)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
L L Ansbergs
Balance outstanding at start of year - 2,558
Amounts advanced 7,112 -
Amounts repaid (3,046 ) (2,558 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,066 -

L Barnes
Balance outstanding at start of year - 2,558
Amounts advanced 7,112 -
Amounts repaid (3,046 ) (2,558 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,066 -