Registered number
12084583
Lay London Limited
Filleted Accounts
31 December 2023
Lay London Limited
Registered number: 12084583
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 2 213 321
Current assets
Debtors 3 3,061 443
Cash at bank and in hand 19,256 16,881
22,317 17,324
Creditors: amounts falling due within one year 4 (37,398) (36,969)
Net current liabilities (15,081) (19,645)
Net liabilities (14,868) (19,324)
Capital and reserves
Called up share capital 2 2
Profit and loss account (14,870) (19,326)
Shareholders' funds (14,868) (19,324)
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.
Lady Alice Herbert
Director
Approved by the board on 11 October 2024
Lay London Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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:
Tableware over 2 years
Computer equipment over 4 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.
2 Tangible fixed assets
Stocks of finished goods Computer equipment Total
£ £ £
Cost
At 1 January 2023 - 429 429
Additions - - -
Disposals - - -
At 31 December 2023 - 429 429
Depreciation
At 1 January 2023 - 108 108
Charge for the year - 108 108
At 31 December 2023 - 216 216
Net book value
At 31 December 2023 - 213 213
At 31 December 2022 - 321 321
3 Debtors 2023 2022
£ £
Other debtors 3,061 443
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 870 870
JH Loan Account 9,427 7,257
AH Loan Account - -
MP Loan Account 5,000 5,000
GA Loan Account 5,000 5,000
JJ Herbert 2,128 2,128
Refundable deposits - 159
Other creditors 14,973 14,973
Corporation tax -
37,398 36,969
5 Employees 2023 2022
-
6 Related party transactions
There are no related party transactions which require disclosure.
6 Controlling party
There is no overall controlling party.
7 Other information
Lay London Limited is a private company limited by shares and incorporated in England. Its registered office is:
100 Ifield Road
London
SW10 9AD
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