Company Registration No. 02225042 (England and Wales)
MADELEINE LINDLEY LTD
UNAUDITED FINANCIAL STATEMENTS
PAGES FOR FILING WITH REGISTRAR
PM+M Solutions for Business LLP
Chartered Accountants
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
MADELEINE LINDLEY LTD
COMPANY INFORMATION
Directors
Mr J M Lindley
Mrs R V Carter
Mrs A A Clayton
Secretary
Mrs A A Clayton
Company number
02225042
Registered office
Book Centre
Broadgate, Broadway Business Park
Chadderton
Oldham
Lancashire
OL9 9XA
Accountants
PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
Lancashire
BB1 5QB
MADELEINE LINDLEY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MADELEINE LINDLEY LTD
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,730
35,873
Current assets
Stocks
163,115
220,543
Debtors
4
126,630
200,279
Cash at bank and in hand
222,305
369,040
512,050
789,862
Creditors: amounts falling due within one year
5
(390,695)
(496,476)
Net current assets
121,355
293,386
Total assets less current liabilities
176,085
329,259
Provisions for liabilities
(13,433)
(8,666)
Net assets
162,652
320,593
Capital and reserves
Called up share capital
10,010
10,010
Profit and loss reserves
152,642
310,583
Total equity
162,652
320,593
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
MADELEINE LINDLEY LTD
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 April 2024 and are signed on its behalf by:
Mrs R V Carter
Mrs A A Clayton
Director
Director
Company registration number 02225042 (England and Wales)
MADELEINE LINDLEY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Madeleine Lindley Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Book Centre, Broadgate, Broadway Business Park, Chadderton, Oldham, Lancashire, OL9 9XA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
The turnover in the profit and loss account represents amounts receivable during the year in respect of delivered books and other goods and services, net of VAT and discounts allowed.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
12.5% to 25% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis, after making due allowance for obsolete and slow-moving items. Net realisable value is based on estimated selling price less additional costs of disposal.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
MADELEINE LINDLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
15
15
MADELEINE LINDLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 August 2022
245,037
15,675
260,712
Additions
27,060
27,060
At 31 July 2023
272,097
15,675
287,772
Depreciation and impairment
At 1 August 2022
209,164
15,675
224,839
Depreciation charged in the year
8,203
8,203
At 31 July 2023
217,367
15,675
233,042
Carrying amount
At 31 July 2023
54,730
54,730
At 31 July 2022
35,873
35,873
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
95,336
180,336
Other debtors
31,294
19,943
126,630
200,279
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
86,523
146,590
Taxation and social security
18,486
55,565
Other creditors
285,686
294,321
390,695
496,476
MADELEINE LINDLEY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
37,585
12,271