Lillie Brothers Limited 06242333 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is wholesale of milk products. Digita Accounts Production Advanced 6.30.9574.0 true false false 06242333 2023-05-01 2024-04-30 06242333 2024-04-30 06242333 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-04-30 06242333 core:CapitalRedemptionReserve 2024-04-30 06242333 core:RetainedEarningsAccumulatedLosses 2024-04-30 06242333 core:ShareCapital 2024-04-30 06242333 core:CurrentFinancialInstruments 2024-04-30 06242333 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 06242333 core:FurnitureFittingsToolsEquipment 2024-04-30 06242333 core:LandBuildings 2024-04-30 06242333 core:MotorVehicles 2024-04-30 06242333 core:OtherPropertyPlantEquipment 2024-04-30 06242333 bus:SmallEntities 2023-05-01 2024-04-30 06242333 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06242333 bus:FilletedAccounts 2023-05-01 2024-04-30 06242333 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06242333 bus:RegisteredOffice 2023-05-01 2024-04-30 06242333 bus:Director1 2023-05-01 2024-04-30 06242333 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-05-01 2024-04-30 06242333 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06242333 core:FurnitureFittings 2023-05-01 2024-04-30 06242333 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 06242333 core:LandBuildings 2023-05-01 2024-04-30 06242333 core:MotorVehicles 2023-05-01 2024-04-30 06242333 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 06242333 core:PlantMachinery 2023-05-01 2024-04-30 06242333 core:Vehicles 2023-05-01 2024-04-30 06242333 1 2023-05-01 2024-04-30 06242333 countries:AllCountries 2023-05-01 2024-04-30 06242333 2023-04-30 06242333 core:FurnitureFittingsToolsEquipment 2023-04-30 06242333 core:LandBuildings 2023-04-30 06242333 core:MotorVehicles 2023-04-30 06242333 core:OtherPropertyPlantEquipment 2023-04-30 06242333 2022-05-01 2023-04-30 06242333 2023-04-30 06242333 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-30 06242333 core:CapitalRedemptionReserve 2023-04-30 06242333 core:RetainedEarningsAccumulatedLosses 2023-04-30 06242333 core:ShareCapital 2023-04-30 06242333 core:CurrentFinancialInstruments 2023-04-30 06242333 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 06242333 core:FurnitureFittingsToolsEquipment 2023-04-30 06242333 core:LandBuildings 2023-04-30 06242333 core:MotorVehicles 2023-04-30 06242333 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Lillie Brothers Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 April 2024

Registration number: 06242333

 

Lillie Brothers Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Lillie Brothers Limited

Balance Sheet

30 April 2024

Note

30 April
2024
£

30 April
2023
£

Fixed assets

 

Tangible assets

4

-

4,206

Current assets

 

Debtors

5

3,710

31,678

Cash at bank and in hand

 

-

11,575

 

3,710

43,253

Creditors: Amounts falling due within one year

6

(250,029)

(218,334)

Net current liabilities

 

(246,319)

(175,081)

Total assets less current liabilities

 

(246,319)

(170,875)

Provisions for liabilities

-

(38,366)

Net liabilities

 

(246,319)

(209,241)

Capital and reserves

 

Called up share capital

8

66

66

Capital redemption reserve

34

34

Profit and loss account

(246,419)

(209,341)

Shareholders' deficit

 

(246,319)

(209,241)

 

Lillie Brothers Limited

Balance Sheet

30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 14 March 2025
 

.........................................
Mr F H Strelzyn-Clarke
Director

Company Registration Number: 06242333

 

Lillie Brothers Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

The principal place of business was:
Unit 3
Tregoniggie Industrial Estate
Falmouth
Cornwall
TR11 4SN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Lillie Brothers Limited was purchased by Food&Dairy Ltd business in 2020/2021, with the aim of serving the Devon and Cornwall marketplace with quality dairy products. The marketplace for this new venture has been extremely difficult, with a challenging environment on multiple fronts - the effect of the COVID pandemic on the food service sector, significant price volatility in the dairy marketplace, and inflationary pressures on fuel, energy and labour costs.

Against this backdrop, the Lillie Brothers Limited business took the difficult decision to cease trading as at 1 July 2023. As a result the company is no longer a going concern and the accounts have been prepared on a basis other than going concern.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

Lillie Brothers Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Furniture, fittings and equipment

20% - 25% reducing balance

Motor vehicles

25% reducing balance

Land and buildings

15% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Lillie Brothers Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Lillie Brothers Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

5,374

94,029

19,550

880

119,833

Disposals

(5,374)

(94,029)

(19,550)

(880)

(119,833)

At 30 April 2024

-

-

-

-

-

Depreciation

At 1 May 2023

5,374

92,859

16,514

880

115,627

Eliminated on disposal

(5,374)

(92,859)

(16,514)

(880)

(115,627)

At 30 April 2024

-

-

-

-

-

Carrying amount

At 30 April 2024

-

-

-

-

-

At 30 April 2023

-

1,170

3,036

-

4,206

5

Debtors

30 April
2024
£

30 April
2023
£

Trade debtors

-

4,098

Prepayments

-

10,780

Other debtors

3,710

16,800

3,710

31,678

 

Lillie Brothers Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

Note

30 April
2024
£

30 April
2023
£

Due within one year

 

Loans and borrowings

7

38

-

Trade creditors

 

5,788

211,958

Accruals and deferred income

 

7,117

6,376

Other creditors

 

237,086

-

 

250,029

218,334

7

Loans and borrowings

Current loans and borrowings

30 April
2024
£

30 April
2023
£

Bank overdrafts

38

-

 

Lillie Brothers Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2024

8

Share capital

Allotted, called up and fully paid shares

30 April
2024

30 April
2023

No.

£

No.

£

Ordinary share of £1 each

66

66

66

66

       

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2023 - £3,833).

Amounts disclosed in the balance sheet

The company has provided for the cost of onerous lease contracts of £Nil (2023 - £38,366) at the financial year end.

10

Related party transactions

The company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with wholly owned members of the group.

11

Parent and ultimate parent undertaking

The company's immediate parent is Food&Dairy Ltd, incorporated in England and Wales.

  These financial statements are available upon request from
Unit 2
St. Columb Major Business Park
St. Columb
Cornwall
TR9 6SX