Registered number
13752381
Lilybetts Catering Limited
Unaudited Filleted Accounts
30 November 2023
Lilybetts Catering Limited
Registered number: 13752381
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 43,933 29,189
Current assets
Debtors 4 7,796 3,836
Cash at bank and in hand 50,105 51,289
57,901 55,125
Creditors: amounts falling due within one year 5 (45,864) (46,401)
Net current assets 12,037 8,724
Total assets less current liabilities 55,970 37,913
Creditors: amounts falling due after more than one year 6 (9,238) (12,938)
Net assets 46,732 24,975
Capital and reserves
Called up share capital 1 1
Profit and loss account 46,731 24,974
Shareholders' funds 46,732 24,975
The directors are 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 directors acknowledge their 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.
Mrs D Brady
Director
Approved by the board on 15 August 2024
Lilybetts Catering Limited
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
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 over 5 years
Fixtures, fittings, tools and equipment 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 10 9
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 2,394 21,192 12,600 36,186
Additions - 17,679 9,500 27,179
At 30 November 2023 2,394 38,871 22,100 63,365
Depreciation
At 1 December 2022 239 4,238 2,520 6,997
Charge for the year 240 7,775 4,420 12,435
At 30 November 2023 479 12,013 6,940 19,432
Net book value
At 30 November 2023 1,915 26,858 15,160 43,933
At 30 November 2022 2,155 16,954 10,080 29,189
4 Debtors 2023 2022
£ £
Trade debtors 7,796 3,594
Other debtors - 242
7,796 3,836
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,530 -
Taxation and social security costs 15,125 5,251
Other creditors 25,209 41,150
45,864 46,401
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,238 12,938
7 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Ms D Slater
Directors loan 20,391 1,566 (10,000) 11,957
Mrs D Brady
Directors loan 19,559 1,235 (10,000) 10,794
39,950 2,801 (20,000) 22,751
8 Other information
Lilybetts Catering Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 30 Westminister Industrial Park
Rossfield Road
Ellesmere Port
Cheshire
CH65 3DU
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