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Registered number: 14851478
Lizzy's Limited
Unaudited Financial Statements
For the Period 21 July 2023 to 31 May 2024
Shaw Austin
Chartered Accountants
45 City Road
Chester
CH1 3AE
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14851478
31 May 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 2,050
2,050
CURRENT ASSETS
Stocks 5 600
Cash at bank and in hand 6,977
7,577
Creditors: Amounts Falling Due Within One Year 6 (8,007 )
NET CURRENT ASSETS (LIABILITIES) (430 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,620
NET ASSETS 1,620
CAPITAL AND RESERVES
Called up share capital 7 2
Profit and Loss Account 1,618
SHAREHOLDERS' FUNDS 1,620
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
H E Walker
Director
15 August 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Lizzy's Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14851478 . The registered office is 9-11 Hole in the Wall, Caernarfon, LL55 1RF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The presentational currency is £ Sterling and all amounts are rounded to the nearest £.
As this is the first period of trade, the financial statements do not cover a full financial period.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 2
Page 3
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 21 July 2023 -
Additions 2,563
As at 31 May 2024 2,563
Depreciation
As at 21 July 2023 -
Provided during the period 513
As at 31 May 2024 513
Net Book Value
As at 31 May 2024 2,050
As at 21 July 2023 -
5. Stocks
31 May 2024
£
Stock 600
6. Creditors: Amounts Falling Due Within One Year
31 May 2024
£
Other creditors 8,007
7. Share Capital
31 May 2024
£
Allotted, Called up and fully paid 2
8. Related Party Transactions
The director has made an interest free loan available to the company throughout the year, with a closing balance of £7,657, repayable on demand.
Page 3