REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 24TH JULY 2023 TO 31ST OCTOBER 2024 |
FOR |
LYCH GATE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 24TH JULY 2023 TO 31ST OCTOBER 2024 |
FOR |
LYCH GATE LTD |
LYCH GATE LTD (REGISTERED NUMBER: 15023628) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 24TH JULY 2023 TO 31ST OCTOBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LYCH GATE LTD |
COMPANY INFORMATION |
FOR THE PERIOD 24TH JULY 2023 TO 31ST OCTOBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
LYCH GATE LTD (REGISTERED NUMBER: 15023628) |
BALANCE SHEET |
31ST OCTOBER 2024 |
Notes | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
LYCH GATE LTD (REGISTERED NUMBER: 15023628) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 24TH JULY 2023 TO 31ST OCTOBER 2024 |
1. | STATUTORY INFORMATION |
Lych Gate Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Costs incurred in the development of properties are included in work in progress. Cost represents the purchase of land, materials and development services including finance costs. |
Taxation |
Taxation for the period 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 period 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. |
Going concern |
At the year-end, the company balance sheet showed net liabilities of £2,204. These financial statements have been prepared on the going concern basis, which is dependent on the following considerations by the directors: |
- Financial projections indicate that the company will continue to meet its liabilities as they fall due over the next twelve months |
-The company has received assurance from its directors that they will continue to provide financial and other supports to meet its liabilities as they fall due for at least next twelve months from the date of signing these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other creditors |
LYCH GATE LTD (REGISTERED NUMBER: 15023628) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 24TH JULY 2023 TO 31ST OCTOBER 2024 |
6. | RELATED PARTY DISCLOSURES |
The following transactions took place between the company and other companies with common director(s) and shareholder(s): |
2024 |
£ |
Loans received from the directors and other related parties during the period | 567,600 |
Purchases from related parties during the period | 364,520 |
Trade balance due to related parties at the balance sheet date | 180,000 |