Registered number
08346823
Lime Retail Metalwork Ltd
Filleted Accounts
31 March 2024
Lime Retail Metalwork Ltd
Registered number: 08346823
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 29,496 23,957
Current assets
Stocks 6,500 6,500
Debtors 4 54,790 67,959
Cash at bank and in hand 75,997 92,416
137,287 166,875
Creditors: amounts falling due within one year 5 (51,368) (71,869)
Net current assets 85,919 95,006
Total assets less current liabilities 115,415 118,963
Creditors: amounts falling due after more than one year 6 (17,222) (20,555)
Net assets 98,193 98,408
Capital and reserves
Called up share capital 400 400
Capital redemption 100 100
Profit and loss account 97,693 97,908
Shareholder's funds 98,193 98,408
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 member has 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.
Marcus Hunt
Director
Approved by the board on 19 November 2024
Lime Retail Metalwork Ltd
Notes to the Accounts
for the year ended 31 March 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.
Grants received
Income from grants is recognised using the accrual model and recognised in the profit or loss on receipt.
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, Fixtures and Equipment 20% Straight line
Motor vehicles 30% Reducing balance
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 56,731 13,285 70,016
Additions 16,309 - 16,309
At 31 March 2024 73,040 13,285 86,325
Depreciation
At 1 April 2023 33,547 12,512 46,059
Charge for the year 10,538 232 10,770
At 31 March 2024 44,085 12,744 56,829
Net book value
At 31 March 2024 28,955 541 29,496
At 31 March 2023 23,184 773 23,957
4 Debtors 2024 2023
£ £
Trade debtors 53,666 66,155
Other debtors 1,124 1,804
54,790 67,959
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,333 3,333
Trade creditors 32,628 58,771
Taxation and social security costs 13,329 7,949
Other creditors 2,078 1,816
51,368 71,869
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,222 20,555
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 3,889 7,222
8 Capital redemption reserve 2024 2023
£ £
At 1 April 2023 100 100
Capital redeemed during the year - -
100 100
9 Related party transactions
As Shareholder Mr M Hunt is a related party. Dividends were paid during the year and the previous year to the shareholder.

At the balance sheet date the company owed 87 (2023: £87) to Mr Hunt by way of an interest free loan with no specific repayment terms.
10 Other information
Lime Retail Metalwork Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Cart Hovel Glebe Farm
Aston Cantlow
Henley-in-Arden
B95 6JL
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