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Company Registration No. NI640303 (Northern Ireland)
Lilyash Limited Unaudited accounts for the year ended 31 August 2024
Lilyash Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,405 
1,050 
Investments
- 
193,568 
2,405 
194,618 
Current assets
Inventories
116,739 
311,533 
Debtors
250,296 
43,119 
Cash at bank and in hand
110,170 
12,071 
477,205 
366,723 
Creditors: amounts falling due within one year
(182,018)
(278,960)
Net current assets
295,187 
87,763 
Net assets
297,592 
282,381 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
297,590 
282,379 
Shareholders' funds
297,592 
282,381 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by
Paul Stevenson Director Company Registration No. NI640303
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Lilyash Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Lilyash Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI640303. The registered office is 83 Rathkeel Road, Broughshane, Ballymena, BT42 4QE, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of roofing products is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of roofing 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
The directors believe that the company Lilyash Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
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Lilyash Limited Notes to the Accounts for the year ended 31 August 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 September 2023
20,000 
At 31 August 2024
20,000 
Amortisation
At 1 September 2023
20,000 
At 31 August 2024
20,000 
Net book value
At 31 August 2024
- 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 September 2023
5,700 
Additions
1,956 
At 31 August 2024
7,656 
Depreciation
At 1 September 2023
4,650 
Charge for the year
601 
At 31 August 2024
5,251 
Net book value
At 31 August 2024
2,405 
At 31 August 2023
1,050 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 September 2023
193,568 
Disposals
(193,568)
Valuation at 31 August 2024
- 
7
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
37,941 
26,091 
Accrued income and prepayments
3,287 
1,000 
Other debtors
209,068 
16,028 
250,296 
43,119 
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Lilyash Limited Notes to the Accounts for the year ended 31 August 2024
8
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
19,959 
29,115 
VAT
12,147 
- 
Trade creditors
36,979 
107,761 
Taxes and social security
97,850 
91,142 
Other creditors
798 
- 
Loans from directors
12,785 
50,942 
Accruals
1,500 
- 
182,018 
278,960 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
10
Average number of employees
During the year the average number of employees was 5 (2023: 5).
- 5 -