Registered number
12936929
LILY GALAXY LTD
Filleted Accounts
30 June 2024
Prepared by; Shafiul Alam
Chartered Certified Accountant
Sayar & Co Accountancy Services
LILY GALAXY LTD
Registered number: 12936929
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 763 568
Current assets
Debtors 4 280 3,505
Cash at bank and in hand 865 1,557
1,145 5,062
Creditors: amounts falling due within one year 5 (803) (2,925)
Net current assets 342 2,137
Net assets 1,105 2,705
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,005 2,605
Shareholder's funds 1,105 2,705
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Emel Melike Bakici
Director
Approved by the board on 13 March 2025
LILY GALAXY LTD
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
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 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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 18% Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 898
Additions 799
Disposals (898)
At 30 June 2024 799
Depreciation
At 1 July 2023 330
Charge for the year 36
On disposals (330)
At 30 June 2024 36
Net book value
At 30 June 2024 763
At 30 June 2023 568
4 Debtors 2024 2023
£ £
Trade debtors 280 3,505
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 650 648
Taxation and social security costs 150 2,277
Other creditors 3 -
803 2,925
6 Other information
LILY GALAXY LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4, Kinetica
13 Ramsgate Street
London
E8 2FD
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