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REGISTERED NUMBER: 03185906 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

LIZ B LIMITED

LIZ B LIMITED (REGISTERED NUMBER: 03185906)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LIZ B LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Miss T J Howard





SECRETARY: Miss T J Howard





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 03185906 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

LIZ B LIMITED (REGISTERED NUMBER: 03185906)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 116,535 116,460
Investment property 4 421,551 451,474
538,086 567,934

CURRENT ASSETS
Cash at bank 11,726 4,786

CREDITORS
Amounts falling due within one year 5 122,462 118,751
NET CURRENT LIABILITIES (110,736 ) (113,965 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

427,350

453,969

PROVISIONS FOR LIABILITIES 586 747
NET ASSETS 426,764 453,222

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 376,764 403,222
SHAREHOLDERS' FUNDS 426,764 453,222

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 27 January 2025 and were signed by:





Miss T J Howard - Director


LIZ B LIMITED (REGISTERED NUMBER: 03185906)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 balance sheet date.

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

Deferred taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

3. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 112,526 3,985 2,716 119,227
Additions 923 686 - 1,609
At 30 April 2024 113,449 4,671 2,716 120,836
DEPRECIATION
At 1 May 2023 - 849 1,918 2,767
Charge for year - 917 617 1,534
At 30 April 2024 - 1,766 2,535 4,301
NET BOOK VALUE
At 30 April 2024 113,449 2,905 181 116,535
At 30 April 2023 112,526 3,136 798 116,460

LIZ B LIMITED (REGISTERED NUMBER: 03185906)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 451,474
Revaluations (29,923 )
At 30 April 2024 421,551
NET BOOK VALUE
At 30 April 2024 421,551
At 30 April 2023 451,474

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2023 (70,431 )
Valuation in 2024 (29,923 )
Cost 521,905
421,551

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 222 198
Other creditors 3,868 3,633
Directors' loan accounts 116,692 113,151
Accrued expenses 1,680 1,769
122,462 118,751

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, Miss T J Howard increased her loan to the company. As at 30 April 2024, the company owed her £116,692 (2023: £113,151). This balance represented the maximum amount outstanding during the year. Interest is charged on any credit balances at current market rates.

Also during the year, the company paid rent amounting to £1,131 (2023: £809) to the director as a result of utilising office space within her home.

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss T J Howard.

This was by virtue of her 100% holding of the ordinary share capital.

8. ACCOUNTING BASIS

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. As at the year end the current liabilities exceeded current assets by £110,736.

The validity of this basis depends upon the continued support of the company's director. The director confirms that she will give the required support.