Company registration number 09570684 (England and Wales)
LEMON AND LIME HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
LEMON AND LIME HOMES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LEMON AND LIME HOMES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
4,148
5,530
Tangible assets
5
263,462
150,291
267,610
155,821
Current assets
Stocks
155,271
8,931
Debtors
141,932
76,551
Cash at bank and in hand
114,281
158,580
411,484
244,062
Creditors: amounts falling due within one year
(230,082)
(219,927)
Net current assets
181,402
24,135
Total assets less current liabilities
449,012
179,956
Creditors: amounts falling due after more than one year
6
(327,765)
(131,720)
Net assets
121,247
48,236
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
121,237
48,226
Total equity
121,247
48,236
LEMON AND LIME HOMES LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 22 January 2025
Mrs E M Penhaul
Director
Company registration number 09570684 (England and Wales)
LEMON AND LIME HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information
Lemon And Lime Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is Prospect House, 1 Prospect Place, Pride Park, Derby, DE24 8HG. The company registration number is 09570684.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
20% Straight line
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% Straight line
Fixtures, fittings & equipment
20% Reducing balance
Computer equipment
25% Straight line
Motor vehicles
20% Straight line
The depreciation policy regarding fixtures and fittings has been changed to better reflect the diminishing value of the assets. The policy has been applied this period and for future periods.
LEMON AND LIME HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
12
10
LEMON AND LIME HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
4
Intangible fixed assets
Other
£
Cost
At 1 June 2023 and 31 May 2024
6,912
Amortisation and impairment
At 1 June 2023
1,382
Amortisation charged for the year
1,382
At 31 May 2024
2,764
Carrying amount
At 31 May 2024
4,148
At 31 May 2023
5,530
5
Tangible fixed assets
Plant and machinery
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
10,215
425,679
16,034
32,000
483,928
Additions
179,972
4,490
184,462
At 31 May 2024
10,215
605,651
20,524
32,000
668,390
Depreciation and impairment
At 1 June 2023
8,555
307,137
11,545
6,400
333,637
Depreciation charged in the year
1,321
59,703
3,867
6,400
71,291
At 31 May 2024
9,876
366,840
15,412
12,800
404,928
Carrying amount
At 31 May 2024
339
238,811
5,112
19,200
263,462
At 31 May 2023
1,660
118,542
4,489
25,600
150,291
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
327,765
131,720