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Registered number: 12362412
Lillywhite Groundcare Ltd
Financial Statements
For The Year Ended 31 December 2023
The PHLT Group
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12362412
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,608 12,708
Tangible Assets 5 74,793 49,958
Investments 6 70,000 -
151,401 62,666
CURRENT ASSETS
Debtors 7 78,339 76,078
Cash at bank and in hand 41,493 34,080
119,832 110,158
Creditors: Amounts Falling Due Within One Year 8 (248,120 ) (143,468 )
NET CURRENT ASSETS (LIABILITIES) (128,288 ) (33,310 )
TOTAL ASSETS LESS CURRENT LIABILITIES 23,113 29,356
Creditors: Amounts Falling Due After More Than One Year 9 (23,111 ) (23,949 )
NET ASSETS 2 5,407
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account - 5,405
SHAREHOLDERS' FUNDS 2 5,407
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Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Daniel Lillywhite
Director
16/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Lillywhite Groundcare Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12362412 . The registered office is North Cottage, Parkgate, Brighton Road, Lower Beeding, West Sussex, RH13 6NH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. 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 50% on cost
Motor Vehicles 33% on cost
Computer Equipment 33% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 30,500
As at 31 December 2023 30,500
Amortisation
As at 1 January 2023 17,792
Impairment losses 6,100
As at 31 December 2023 23,892
Net Book Value
As at 31 December 2023 6,608
As at 1 January 2023 12,708
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 57,750 63,778 3,565 125,093
Additions 21,707 29,252 4,446 55,405
Disposals - (8,500 ) - (8,500 )
As at 31 December 2023 79,457 84,530 8,011 171,998
...CONTINUED
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Depreciation
As at 1 January 2023 44,460 29,545 1,130 75,135
Provided during the period 8,652 17,600 1,651 27,903
Disposals - (5,833 ) - (5,833 )
As at 31 December 2023 53,112 41,312 2,781 97,205
Net Book Value
As at 31 December 2023 26,345 43,218 5,230 74,793
As at 1 January 2023 13,290 34,233 2,435 49,958
6. Investments
Unlisted
£
Cost
As at 1 January 2023 -
Additions 70,000
As at 31 December 2023 70,000
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 70,000
As at 1 January 2023 -
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 76,914 72,730
Prepayments and accrued income 1,425 1,425
Other debtors - 1,923
78,339 76,078
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 11,899 7,081
Trade creditors 14,819 18,651
Bank loans and overdrafts 5,179 214
Corporation tax 4,114 8,879
Other taxes and social security 2,892 2,421
VAT 16,432 16,270
Other creditors 157,186 5,580
Pensions payable - 468
Director's loan account 35,599 83,904
248,120 143,468
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 15,584 11,599
Other creditors 7,527 12,350
23,111 23,949
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,899 7,081
Later than one year and not later than five years 15,584 11,599
27,483 18,680
27,483 18,680
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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