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Registered number: 14891357
Lizzy's Cakes And Bakes Limited
Financial Statements
For the Period 24 May 2023 to 31 May 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 14891357
31 May 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 59,799
59,799
CURRENT ASSETS
Stocks 5 126,368
Debtors 6 196,307
Cash at bank and in hand 25,683
348,358
Creditors: Amounts Falling Due Within One Year 7 (536,506 )
NET CURRENT ASSETS (LIABILITIES) (188,148 )
TOTAL ASSETS LESS CURRENT LIABILITIES (128,349 )
Creditors: Amounts Falling Due After More Than One Year 8 (117,991 )
NET LIABILITIES (246,340 )
CAPITAL AND RESERVES
Called up share capital 10 100
Profit and Loss Account (246,440 )
SHAREHOLDERS' FUNDS (246,340)
Page 1
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For the period ending 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alan Richings
Director
17/02/2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 24 May 2023 100 - 100
Loss for the period and total comprehensive income - (246,440 ) (246,440)
As at 31 May 2024 100 (246,440 ) (246,340)
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Notes to the Financial Statements
1. General Information
Lizzy's Cakes And Bakes Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14891357 . The registered office is Unit 2 51 Victoria Road, Burgess Hill, West Sussex, RH15 9LH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
These financial statements have been prepared on the basis that the company will continue to be a going concern. The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 28
28
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 24 May 2023 - - - - -
Additions 55,813 10,500 1,559 2,639 70,511
As at 31 May 2024 55,813 10,500 1,559 2,639 70,511
Depreciation
As at 24 May 2023 - - - - -
Provided during the period 8,372 1,925 148 267 10,712
As at 31 May 2024 8,372 1,925 148 267 10,712
Net Book Value
As at 31 May 2024 47,441 8,575 1,411 2,372 59,799
As at 24 May 2023 - - - - -
5. Stocks
31 May 2024
£
Stock 65,722
Finished goods 60,646
126,368
6. Debtors
31 May 2024
£
Due within one year
Trade debtors 110,353
Other debtors 85,954
196,307
7. Creditors: Amounts Falling Due Within One Year
31 May 2024
£
Trade creditors 153,067
Bank loans and overdrafts 123,776
Other loans 9,500
Other creditors 79,243
Taxation and social security 170,920
536,506
8. Creditors: Amounts Falling Due After More Than One Year
31 May 2024
£
Bank loans 117,991
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9. Secured Creditors
Of the creditors the following amounts are secured.
31 May 2024
£
Bank loans and overdrafts 146,766
10. Share Capital
31 May 2024
£
Allotted, Called up and fully paid 100
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 May 2024
£
Not later than one year 52,708
Later than one year and not later than five years 169,583
222,291
12. Related Party Transactions
As at 31 May 2024, the director A Richings was owed £68,900 by the company. The loan is unsecured, interest free and repayable on demand.
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