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Litelines Limited

Financial Statements for the Year Ended 31 March 2024






Litelines Limited (Registered number: 04605550)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Litelines Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr P Bergman
Mr O Prevezer





REGISTERED OFFICE: Unit 17 Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW





REGISTERED NUMBER: 04605550 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Litelines Limited (Registered number: 04605550)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,628 23,388

CURRENT ASSETS
Stocks 109,263 113,668
Debtors 5 68,009 125,625
Cash at bank and in hand 75,370 83,929
252,642 323,222
CREDITORS
Amounts falling due within one year 6 125,692 126,127
NET CURRENT ASSETS 126,950 197,095
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,578

220,483

CREDITORS
Amounts falling due after more than one
year

7

19,053

33,117
NET ASSETS 137,525 187,366

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 137,425 187,266
SHAREHOLDERS' FUNDS 137,525 187,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Litelines Limited (Registered number: 04605550)

Balance Sheet - continued
31 March 2024


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 5 August 2024 and were signed on its behalf by:





Mr P Bergman - Director


Litelines Limited (Registered number: 04605550)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Litelines 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 7,617 43,941 51,558
Additions 6,289 9,875 16,164
At 31 March 2024 13,906 53,816 67,722
DEPRECIATION
At 1 April 2023 7,330 20,840 28,170
Charge for year 1,680 8,244 9,924
At 31 March 2024 9,010 29,084 38,094
NET BOOK VALUE
At 31 March 2024 4,896 24,732 29,628
At 31 March 2023 287 23,101 23,388

Litelines Limited (Registered number: 04605550)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,176 125,625
Other debtors 5,875 -
Prepayments 1,958 -
68,009 125,625

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 7,462 8,459
Hire purchase contracts 5,055 5,055
Trade creditors 88,433 75,855
Corporation tax 1,591 15,068
PAYE 2,186 1,878
VAT 10,040 10,553
Pension fund 1,577 686
Credit card 8,076 4,094
Directors' current accounts 97 3,304
Accrued expenses 1,175 1,175
125,692 126,127

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 7,462 8,459
Bank loans - 2-5 years 1,865 9,877
Hire purchase contracts 9,726 14,781
19,053 33,117

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
51 A Ordinary £1 51 51
49 B Ordinary £1 49 49
100 100