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COMPANY REGISTRATION NUMBER: 12863831
Lollipop Parties Ltd
Filleted Unaudited Financial Statements
31 December 2023
Lollipop Parties Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
14,212
Current assets
Stocks
20,000
20,000
Debtors
6
9,539
Cash at bank and in hand
6
179
--------
--------
20,006
29,718
Creditors: amounts falling due within one year
7
71,772
80,642
--------
--------
Net current liabilities
51,766
50,924
--------
--------
Total assets less current liabilities
( 51,766)
( 36,712)
--------
--------
Net liabilities
( 51,766)
( 36,712)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 51,866)
( 36,812)
--------
--------
Shareholders deficit
( 51,766)
( 36,712)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lollipop Parties Ltd
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 20 April 2024 , and are signed on behalf of the board by:
Ms N Millward
Director
Company registration number: 12863831
Lollipop Parties Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
5% straight line
Fixtures, fittings and equipment
-
15% straight line
Office equipment
-
15% straight line
Website
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 2 ).
5. Tangible assets
Leasehold property
Fixtures and fittings
Office equipment
Website
Total
£
£
£
£
£
Cost
At 1 January 2023
6,817
1,335
375
9,000
17,527
Disposals
( 6,817)
( 1,335)
( 375)
( 9,000)
( 17,527)
-------
-------
----
-------
--------
At 31 December 2023
-------
-------
----
-------
--------
Depreciation
At 1 January 2023
510
281
94
2,430
3,315
Disposals
( 510)
( 281)
( 94)
( 2,430)
( 3,315)
-------
-------
----
-------
--------
At 31 December 2023
-------
-------
----
-------
--------
Carrying amount
At 31 December 2023
-------
-------
----
-------
--------
At 31 December 2022
6,307
1,054
281
6,570
14,212
-------
-------
----
-------
--------
6. Debtors
2023
2022
£
£
Other debtors
9,539
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
57,852
55,578
Other creditors
13,920
25,064
--------
--------
71,772
80,642
--------
--------
8. Director's advances, credits and guarantees
The amount owed to the director totals £13,170 (2022 - £22,765). No interest is paid on the amounts owed by the company.