Lilly Loves Ltd 07800119 true 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is design and sale of embroidered gifts and accessories Digita Accounts Production Advanced 6.30.9574.0 true true 07800119 2023-05-01 2024-04-30 07800119 2024-04-30 07800119 core:RetainedEarningsAccumulatedLosses 2024-04-30 07800119 core:ShareCapital 2024-04-30 07800119 core:CurrentFinancialInstruments 2024-04-30 07800119 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 07800119 core:FurnitureFittingsToolsEquipment 2024-04-30 07800119 bus:SmallEntities 2023-05-01 2024-04-30 07800119 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07800119 bus:FilletedAccounts 2023-05-01 2024-04-30 07800119 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07800119 bus:RegisteredOffice 2023-05-01 2024-04-30 07800119 bus:Director1 2023-05-01 2024-04-30 07800119 bus:EntityNoLongerTradingButTradedInPast 2023-05-01 2024-04-30 07800119 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07800119 core:FurnitureFittings 2023-05-01 2024-04-30 07800119 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 07800119 countries:EnglandWales 2023-05-01 2024-04-30 07800119 2023-04-30 07800119 core:FurnitureFittingsToolsEquipment 2023-04-30 07800119 2022-05-01 2023-04-30 07800119 2023-04-30 07800119 core:RetainedEarningsAccumulatedLosses 2023-04-30 07800119 core:ShareCapital 2023-04-30 07800119 core:CurrentFinancialInstruments 2023-04-30 07800119 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 07800119 core:FurnitureFittingsToolsEquipment 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 07800119

Lilly Loves Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Lilly Loves Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Lilly Loves Ltd

Company Information

Director

Miss E F Lomax

Registered office

11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Lilly Loves Ltd

(Registration number: 07800119)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,403

1,770

Current assets

 

Debtors

5

167

-

Cash at bank and in hand

 

2,549

6,459

 

2,716

6,459

Creditors: Amounts falling due within one year

6

(708,488)

(708,250)

Net current liabilities

 

(705,772)

(701,791)

Net liabilities

 

(700,369)

(700,021)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(700,370)

(700,022)

Shareholders' deficit

 

(700,369)

(700,021)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 January 2025
 

.........................................
Miss E F Lomax
Director

   
     
 

Lilly Loves Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'TheFinancial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company is dependent on the continued financial support of the Director through the loan account. The company has obtained confirmation that the Director will continue to provide the necessary financial support for the forseeable future through the Director's loan account. Therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Lilly Loves Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Lilly Loves Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

7,699

7,699

Additions

5,518

5,518

Disposals

(7,699)

(7,699)

At 30 April 2024

5,518

5,518

Depreciation

At 1 May 2023

5,929

5,929

Charge for the year

115

115

Eliminated on disposal

(5,929)

(5,929)

At 30 April 2024

115

115

Carrying amount

At 30 April 2024

5,403

5,403

At 30 April 2023

1,770

1,770

5

Debtors

Current

2024
£

2023
£

Other debtors

167

-

 

167

-

6

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

-

1,642

Accruals and deferred income

1,000

1,975

Other creditors

707,488

704,633

708,488

708,250