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REGISTERED NUMBER: 06669192 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

THE LADY LIMITED

THE LADY LIMITED (REGISTERED NUMBER: 06669192)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE LADY LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: G B D Budworth





REGISTERED OFFICE: 1st Floor, Spitalfields House
Stirling Way
Borehamwood
WD6 2FX





REGISTERED NUMBER: 06669192 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

THE LADY LIMITED (REGISTERED NUMBER: 06669192)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 - 92

CURRENT ASSETS
Stocks 6,692 6,500
Debtors 5 174,099 185,543
Cash at bank 39,845 33,388
220,636 225,431
CREDITORS
Amounts falling due within one year 6 (1,876,653 ) (1,919,737 )
NET CURRENT LIABILITIES (1,656,017 ) (1,694,306 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,656,017

)

(1,694,214

)

CREDITORS
Amounts falling due after more than one year 7 (19,796 ) (37,500 )
NET LIABILITIES (1,675,813 ) (1,731,714 )

CAPITAL AND RESERVES
Called up share capital 10 167 167
Retained earnings 11 (1,675,980 ) (1,731,881 )
(1,675,813 ) (1,731,714 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 30 December 2024 and were signed by:





G B D Budworth - Director


THE LADY LIMITED (REGISTERED NUMBER: 06669192)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

The Lady 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.

Going concern
The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The director considers this basis to be appropriate as the company has sufficient facilities available from its shareholders to fund its working capital requirements for a period of at least twelve months from the date these financial statements were approved.

Significant judgements and estimates
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 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.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

THE LADY LIMITED (REGISTERED NUMBER: 06669192)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

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.

THE LADY LIMITED (REGISTERED NUMBER: 06669192)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 75,022
DEPRECIATION
At 1 January 2023 74,930
Charge for year 92
At 31 December 2023 75,022
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 92

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 145,701 160,396
Other debtors 7,698 6,882
Prepayments and accrued income 20,700 18,265
174,099 185,543

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 8) 10,017 -
Trade creditors 142,768 135,132
Social security and other taxes 289,345 290,193
VAT 49,643 43,521
Other creditors 1,369,112 1,434,401
Accrued expenses 15,768 16,490
1,876,653 1,919,737

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 8) 19,796 37,500

THE LADY LIMITED (REGISTERED NUMBER: 06669192)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,017 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 19,796 37,500

The bank loan facility is supported by the UK Government Bounce Back Loan Scheme guarantee and interest is charged at 2.5% per annum.

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 10,500 10,500

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:


Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
20 'A' Ordinary £1 20 20
20 'B' Ordinary £1 20 20
87 'C' Ordinary £1 87 87
20 'D' Ordinary £1 20 20
20 'E' Ordinary £1 20 20
167 167 167

11. RESERVES
Retained
earnings
£   

At 1 January 2023 (1,731,881 )
Profit for the year 55,901
At 31 December 2023 (1,675,980 )

12. RELATED PARTY DISCLOSURES

As at the balance sheet date, the company owed £891,563 (2022: £927,206) to the director. It is unsecured and no interest is charged on this loan.

13. ULTIMATE CONTROLLING PARTY

The controlling party is G B D Budworth.