IRIS Accounts Production v24.3.0.553 07116253 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh071162532023-03-31071162532024-03-31071162532023-04-012024-03-31071162532022-03-31071162532022-04-012023-03-31071162532023-03-3107116253ns15:EnglandWales2023-04-012024-03-3107116253ns14:PoundSterling2023-04-012024-03-3107116253ns10:Director12023-04-012024-03-3107116253ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3107116253ns10:SmallEntities2023-04-012024-03-3107116253ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3107116253ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3107116253ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107116253ns10:FullAccounts2023-04-012024-03-3107116253ns10:RegisteredOffice2023-04-012024-03-3107116253ns5:CurrentFinancialInstruments2024-03-3107116253ns5:CurrentFinancialInstruments2023-03-3107116253ns5:Non-currentFinancialInstruments2024-03-3107116253ns5:Non-currentFinancialInstruments2023-03-3107116253ns5:ShareCapital2024-03-3107116253ns5:ShareCapital2023-03-3107116253ns5:RetainedEarningsAccumulatedLosses2024-03-3107116253ns5:RetainedEarningsAccumulatedLosses2023-03-3107116253ns5:ComputerEquipment2023-04-012024-03-3107116253ns5:ComputerEquipment2023-03-3107116253ns5:ComputerEquipment2024-03-3107116253ns5:ComputerEquipment2023-03-3107116253ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3107116253ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31071162531ns10:Director12023-03-31071162531ns10:Director12022-03-31071162531ns10:Director12023-04-012024-03-31071162531ns10:Director12022-04-012023-03-31071162531ns10:Director12024-03-31071162531ns10:Director12023-03-31
REGISTERED NUMBER: 07116253 (England and Wales)












Lillyfreya Wealth Management Limited

Unaudited Financial Statements

for the Year Ended 31st March 2024






Lillyfreya Wealth Management Limited (Registered number: 07116253)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lillyfreya Wealth Management Limited

Company Information
for the Year Ended 31st March 2024







DIRECTOR: D Coglan





REGISTERED OFFICE: 48 Arwenack Street
Falmouth
Cornwall
TR11 3JH





REGISTERED NUMBER: 07116253 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Lillyfreya Wealth Management Limited (Registered number: 07116253)

Statement of Financial Position
31st March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 703 2,122

CURRENT ASSETS
Debtors 5 23,839 38,931
Cash at bank 4 4
23,843 38,935
CREDITORS
Amounts falling due within one year 6 (24,599 ) (27,065 )
NET CURRENT (LIABILITIES)/ASSETS (756 ) 11,870
TOTAL ASSETS LESS CURRENT
LIABILITIES

(53

)

13,992

CREDITORS
Amounts falling due after more than one
year

7

(5,000

)

(9,000

)

PROVISIONS FOR LIABILITIES (134 ) (404 )
NET (LIABILITIES)/ASSETS (5,187 ) 4,588

CAPITAL AND RESERVES
Called up share capital 10 10
Profit and loss account (5,197 ) 4,578
SHAREHOLDERS' FUNDS (5,187 ) 4,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Lillyfreya Wealth Management Limited (Registered number: 07116253)

Statement of Financial Position - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2nd December 2024 and were signed by:





D Coglan - Director


Lillyfreya Wealth Management Limited (Registered number: 07116253)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Lillyfreya Wealth Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents commissions receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Lillyfreya Wealth Management Limited (Registered number: 07116253)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st April 2023
and 31st March 2024 6,446
DEPRECIATION
At 1st April 2023 4,324
Charge for year 1,419
At 31st March 2024 5,743
NET BOOK VALUE
At 31st March 2024 703
At 31st March 2023 2,122

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 6,454
Other debtors 23,839 32,477
23,839 38,931

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 13,851 15,003
Taxation and social security 8,718 10,107
Other creditors 2,030 1,955
24,599 27,065

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 5,000 9,000

Lillyfreya Wealth Management Limited (Registered number: 07116253)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023:

31.3.24 31.3.23
£    £   
D Coglan
Balance outstanding at start of year 29,945 34,660
Amounts advanced 18,944 29,945
Amounts repaid (29,945 ) (34,660 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 18,944 29,945

Interest is charged on overdrawn balances at the approved HMRC rates. During the year interest of £792 (2023: £974) has been charged.