Registered number
11476939
Lime Tax Limited
Filleted Accounts
31 March 2023
Lime Tax Limited
Registered number: 11476939
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 19,889 20,264
Current assets
Debtors 4 52,371 23,794
Cash at bank and in hand 1,113 1,134
53,484 24,928
Creditors: amounts falling due within one year 5 (41,989) (21,359)
Net current assets 11,495 3,569
Total assets less current liabilities 31,384 23,833
Creditors: amounts falling due after more than one year 6 (14,885) (17,051)
Net assets 16,499 6,782
Capital and reserves
Called up share capital 3 3
Profit and loss account 16,496 6,779
Shareholder's funds 16,499 6,782
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 member has 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.
Mr A Blosse
Director
Approved by the board on 22 April 2024
Lime Tax Limited
Notes to the Accounts
for the year ended 31 March 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:
Office furniture over 5 years
Computer equipment over 3 years
Bicycles over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Office furniture Computer equipment Bicycles Total
£ £ £ £
Cost
At 1 April 2022 1,304 20,901 14,191 36,396
Additions - 9,952 - 9,952
At 31 March 2023 1,304 30,853 14,191 46,348
Depreciation
At 1 April 2022 608 9,335 6,189 16,132
Charge for the year 261 7,228 2,838 10,327
At 31 March 2023 869 16,563 9,027 26,459
Net book value
At 31 March 2023 435 14,290 5,164 19,889
At 31 March 2022 696 11,566 8,002 20,264
4 Debtors 2023 2022
£ £
Trade debtors 4,917 1,500
Directors loan account 47,454 15,468
Other debtors - 6,826
52,371 23,794
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,100 2,100
Trade creditors 1,952 1,225
Taxation and social security costs 37,937 18,034
41,989 21,359
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,885 17,051
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Blosse
Directors loan account 15,468 94,883 (62,897) 47,454
15,468 94,883 (62,897) 47,454
8 Related party transactions
During the year the company paid rent to the director in respect of office space and storage amounting to £8,428 (2022: £9,407). The amount was credited to his directors loan account.
9 Controlling party
The ultimate controlling party was Mr A Blosse, a director and shareholder of the company.
10 Other information
Lime Tax Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ratcliffe Cottage
2 Toothill Road
Loughborough
Leicestershire
LE11 1PW
Lime Tax Limited 11476939 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2024 Mr A Blosse No description of principal activity 11476939 2021-04-01 2022-03-31 11476939 core:WithinOneYear 2022-03-31 11476939 core:AfterOneYear 2022-03-31 11476939 core:ShareCapital 2022-03-31 11476939 core:RetainedEarningsAccumulatedLosses 2022-03-31 11476939 2022-04-01 2023-03-31 11476939 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11476939 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11476939 bus:Director40 2022-04-01 2023-03-31 11476939 1 2022-04-01 2023-03-31 11476939 2 2022-04-01 2023-03-31 11476939 core:LandBuildings 2022-04-01 2023-03-31 11476939 core:PlantMachinery 2022-04-01 2023-03-31 11476939 core:Vehicles 2022-04-01 2023-03-31 11476939 bus:Director1 2022-04-01 2023-03-31 11476939 bus:Director1 1 2022-04-01 2023-03-31 11476939 countries:England 2022-04-01 2023-03-31 11476939 bus:FRS102 2022-04-01 2023-03-31 11476939 bus:FilletedAccounts 2022-04-01 2023-03-31 11476939 2023-03-31 11476939 core:WithinOneYear 2023-03-31 11476939 core:AfterOneYear 2023-03-31 11476939 core:ShareCapital 2023-03-31 11476939 core:RetainedEarningsAccumulatedLosses 2023-03-31 11476939 core:LandBuildings 2023-03-31 11476939 core:PlantMachinery 2023-03-31 11476939 core:Vehicles 2023-03-31 11476939 bus:Director1 1 2023-03-31 11476939 2022-03-31 11476939 core:LandBuildings 2022-03-31 11476939 core:PlantMachinery 2022-03-31 11476939 core:Vehicles 2022-03-31 11476939 bus:Director1 1 2022-03-31 iso4217:GBP xbrli:pure