Year Ended
Registration number:
Lillie Brothers Limited
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Lillie Brothers Limited
Balance Sheet
30 April 2024
Note |
30 April |
30 April |
|
Fixed assets |
|||
Tangible assets |
- |
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
- |
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
( |
|
Provisions for liabilities |
- |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Capital redemption reserve |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' deficit |
( |
( |
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 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
......................................... |
Company Registration Number: 06242333
Lillie Brothers Limited
Notes to the Unaudited Financial Statements
Year Ended 30 April 2024
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 principal place of business was:
Unit 3
Tregoniggie Industrial Estate
Falmouth
Cornwall
TR11 4SN
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
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Lillie Brothers Limited
Notes to the Unaudited Financial Statements
Year Ended 30 April 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
Cost or valuation |
|||||
At 1 May 2023 |
|
|
|
|
|
Disposals |
( |
( |
( |
( |
( |
At 30 April 2024 |
- |
- |
- |
- |
- |
Depreciation |
|||||
At 1 May 2023 |
|
|
|
|
|
Eliminated on disposal |
( |
( |
( |
( |
( |
At 30 April 2024 |
- |
- |
- |
- |
- |
Carrying amount |
|||||
At 30 April 2024 |
- |
- |
- |
- |
- |
At 30 April 2023 |
- |
|
|
- |
|
Debtors |
30 April |
30 April |
|
Trade debtors |
- |
|
Prepayments |
- |
|
Other debtors |
|
|
|
|
Lillie Brothers Limited
Notes to the Unaudited Financial Statements
Year Ended 30 April 2024
Creditors |
Creditors: amounts falling due within one year
Note |
30 April |
30 April |
|
Due within one year |
|||
Loans and borrowings |
|
- |
|
Trade creditors |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
- |
|
|
|
Loans and borrowings |
Current loans and borrowings
30 April |
30 April |
|
Bank overdrafts |
|
- |
Lillie Brothers Limited
Notes to the Unaudited Financial Statements
Year Ended 30 April 2024
Share capital |
Allotted, called up and fully paid shares
30 April |
30 April |
|||
No. |
£ |
No. |
£ |
|
|
|
66 |
|
66 |
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 - £
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.
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.
Parent and ultimate parent undertaking |
The company's immediate parent is
These financial statements are available upon request from
Unit 2
St. Columb Major Business Park
St. Columb
Cornwall
TR9 6SX