Registered number
07649178
LILMO LTD
Filleted Accounts
31 October 2024
LILMO LTD
Registered number: 07649178
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 70,099 113,015
Current assets
Stocks 303,433 276,937
Debtors 5 6,607 7,467
Cash at bank and in hand 303,412 210,686
613,452 495,090
Creditors: amounts falling due within one year 6 (374,543) (305,486)
Net current assets 238,909 189,604
Total assets less current liabilities 309,008 302,619
Creditors: amounts falling due after more than one year 7 (86,799) (86,798)
Net assets 222,209 215,821
Capital and reserves
Called up share capital 100 100
Profit and loss account 222,109 215,721
Shareholders' funds 222,209 215,821
The director is 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 director acknowledges his 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.
MOHAMMED JUBER PATEL
Director
Approved by the board on 27 November 2024
LILMO LTD
Notes to the Accounts
for the year ended 31 October 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 10 years
Fixtures, fittings, tools and equipment over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 Employees 2024 2023
Number Number
Average number of persons employed by the company 33 34
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 42,000
At 31 October 2024 42,000
Amortisation
At 1 November 2023 42,000
At 31 October 2024 42,000
Net book value
At 31 October 2024 -
License Fees are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 November 2023 536,508
Additions 11,844
At 31 October 2024 548,352
Depreciation
At 1 November 2023 423,493
Charge for the year 54,760
At 31 October 2024 478,253
Net book value
At 31 October 2024 70,099
At 31 October 2023 113,015
5 Debtors 2024 2023
£ £
Trade debtors 6,607 7,467
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade Vouchers 186,041 166,846
Trade creditors (36,979) (43,440)
Taxation and social security costs 56,593 41,497
Other creditors 168,888 140,583
374,543 305,486
7 Creditors: amounts falling due after one year 2024 2023
£ £
Directors Loan 86,799 86,798
8 Controlling party
The Directors have ultimate control of the company by virtue of them owning 100% of the Issued Share Capital.
9 Other information
LILMO LTD is a private company limited by shares and incorporated in England. Its registered office is:
SUITE 52,
BATLEY BUSINESS & TECHNOLOGY CENTRE
TECHNOLOGY DRIVE
BATLEY
WF17 6ER
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