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REGISTERED NUMBER: 07043833 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LILY'S ATTIC LIMITED

LILY'S ATTIC LIMITED (REGISTERED NUMBER: 07043833)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LILY'S ATTIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs T Butler





REGISTERED OFFICE: 51b Market Square
Witney
Oxfordshire
OX28 6AG





REGISTERED NUMBER: 07043833 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

LILY'S ATTIC LIMITED (REGISTERED NUMBER: 07043833)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 26,191 32,098
26,191 32,098

CURRENT ASSETS
Stocks 9,000 8,500
Debtors 6 11,000 11,000
Cash at bank and in hand 63,983 88,359
83,983 107,859
CREDITORS
Amounts falling due within one year 7 60,809 77,133
NET CURRENT ASSETS 23,174 30,726
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,365

62,824

CREDITORS
Amounts falling due after more than one
year

8

(30,094

)

(37,579

)

PROVISIONS FOR LIABILITIES 10 (4,967 ) (6,087 )
NET ASSETS 14,304 19,158

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 14,303 19,157
SHAREHOLDERS' FUNDS 14,304 19,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

LILY'S ATTIC LIMITED (REGISTERED NUMBER: 07043833)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 25 September 2024 and were signed by:





Mrs T Butler - Director


LILY'S ATTIC LIMITED (REGISTERED NUMBER: 07043833)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Lily's Attic 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill relates to the purchase of the business in 2013. This has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Van - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor bikes - 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

LILY'S ATTIC LIMITED (REGISTERED NUMBER: 07043833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 50,000
AMORTISATION
At 1 January 2023
and 31 December 2023 50,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
Van fittings bikes Totals
£    £    £    £   
COST
At 1 January 2023 35,126 26,959 9,649 71,734
Disposals - - (9,649 ) (9,649 )
At 31 December 2023 35,126 26,959 - 62,085
DEPRECIATION
At 1 January 2023 9,402 22,906 7,328 39,636
Charge for year 2,572 1,014 - 3,586
Eliminated on disposal - - (7,328 ) (7,328 )
At 31 December 2023 11,974 23,920 - 35,894
NET BOOK VALUE
At 31 December 2023 23,152 3,039 - 26,191
At 31 December 2022 25,724 4,053 2,321 32,098

LILY'S ATTIC LIMITED (REGISTERED NUMBER: 07043833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Van bikes Totals
£    £    £   
COST
At 1 January 2023 23,750 9,649 33,399
Disposals - (9,649 ) (9,649 )
At 31 December 2023 23,750 - 23,750
DEPRECIATION
At 1 January 2023 6,357 7,328 13,685
Charge for year 1,739 - 1,739
Eliminated on disposal - (7,328 ) (7,328 )
At 31 December 2023 8,096 - 8,096
NET BOOK VALUE
At 31 December 2023 15,654 - 15,654
At 31 December 2022 17,393 2,321 19,714

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 11,000 11,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 9) 5,556 7,545
Hire purchase contracts 1,930 5,791
Trade creditors 16,716 20,222
Tax 4,500 10,395
Social security and other taxes 310 763
Net wages 1,101 1,736
VAT 10,136 9,437
Directors' current accounts 1,507 1,892
Accrued expenses 19,053 19,352
60,809 77,133

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 9) 30,094 35,649
Hire purchase contracts - 1,930
30,094 37,579

LILY'S ATTIC LIMITED (REGISTERED NUMBER: 07043833)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,871 13,426

9. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 5,556 7,545

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,556 5,556

Amounts falling due between two and five years:
Bank loans - 2-5 years 16,667 16,667

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,871 13,426

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 4,967 6,087

Deferred
tax
£   
Balance at 1 January 2023 6,087
Provided during year (1,120 )
Balance at 31 December 2023 4,967

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 £1 1 1