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Registered Number: SC771955
England and Wales

 

 

 

LILAWATI RETAILS LIMITED


Abridged Accounts
 


Period of accounts

Start date: 07 June 2023

End date: 30 June 2024
Report to the directors on the preparation of the unaudited statutory accounts of LILAWATI RETAILS LIMITED for the year ended 30 June 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LILAWATI RETAILS LIMITED for the year ended 30 June 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of LILAWATI RETAILS LIMITED, as a body, in accordance with the terms of our engagement letter dated 04 March 2025 Our work has been undertaken solely to prepare for your approval the accounts of LILAWATI RETAILS LIMITED and state those matters that we have agreed to state to the Board of Directors of LILAWATI RETAILS LIMITED, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LILAWATI RETAILS LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LILAWATI RETAILS LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LILAWATI RETAILS LIMITED. You consider that LILAWATI RETAILS LIMITED is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of LILAWATI RETAILS LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 June 2024



....................................................

SNP Plus Ltd

Accountants and Tax Advisors
284 Station Road
Harrow, London
HA1 2EA
04 March 2025
1
 
 
Notes
 
2024
£
Fixed assets    
Tangible fixed assets 3 1,157 
1,157 
Current assets    
Stocks 18,915 
Debtors 3,143 
Cash at bank and in hand 8,915 
30,973 
Creditors: amount falling due within one year (23,405)
Net current assets 7,568 
 
Total assets less current liabilities 8,725 
Provisions for liabilities (299)
Net assets 8,426 
 

Capital and reserves
   
Called up share capital 4 100 
Profit and loss account 8,326 
Shareholders' funds 8,426 
 


For the period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 March 2025 and were signed by:


-------------------------------
Lila NEUPANE
Director
2
General Information
LILAWATI RETAILS LIMITED is a private company, limited by shares, registered in England and Wales, registration number SC771955, registration address 79 CRAIGBEATH COURT, COWDENBEATH , SCOTLAND, KY4 9BZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the period was 6.
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 07 June 2023  
Additions 1,197    1,197 
Disposals  
At 30 June 2024 1,197    1,197 
Depreciation
At 07 June 2023  
Charge for period 40    40 
On disposals  
At 30 June 2024 40    40 
Net book values
Closing balance as at 30 June 2024 1,157    1,157 
Opening balance as at 07 June 2023  


4.

Share Capital

Allotted, called up and fully paid
2024
£
100 Class A shares of £1.00 each 100 
100 
Issue of shares
During the period, the company issued 100 ordinary shares of £1 each.

5.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2024
£
2024
£
Mrs. Lila Neupane3,143 
3