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Registration number: 12143604

Lili Wen Farm Contracting Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Lili Wen Farm Contracting Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Lili Wen Farm Contracting Ltd

Company Information

Director

Mr Robert Iain Brewer

Registered office

Lili Wen Farm
Llanfabon
Cilfynydd
Pontypridd
CF37 4HN

Accountants

Onyx Accountants Limited
Chartered Management AccountantsOnyx House
12 Phoenix Business Park
Avenue Close
Birmingham
West Midlands
B7 4NU

 

Lili Wen Farm Contracting Ltd

(Registration number: 12143604)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

27,728

34,816

Current assets

 

Debtors

5

8,708

7,873

Cash at bank and in hand

 

9,052

2,826

 

17,760

10,699

Prepayments and accrued income

 

4,893

4,545

Creditors: Amounts falling due within one year

(86,116)

(82,236)

Net current liabilities

 

(63,463)

(66,992)

Total assets less current liabilities

 

(35,735)

(32,176)

Accruals and deferred income

 

(1,290)

(1,290)

Net liabilities

 

(37,025)

(33,466)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(37,125)

(33,566)

Shareholders' deficit

 

(37,025)

(33,466)

For the financial year ending 31 August 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 April 2025
 

.........................................
Mr Robert Iain Brewer
Director

 

Lili Wen Farm Contracting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
Lili Wen Farm
Llanfabon
Cilfynydd
Pontypridd
CF37 4HN

These financial statements were authorised for issue by the director on 3 April 2025.

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Lili Wen Farm Contracting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

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

Fixtures and fittings

20% on reducing balance

Plant and machinery

33% on straight line

Motor vehicles

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Lili Wen Farm Contracting Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 September 2023

5,700

55,203

50,679

12,000

At 31 August 2024

5,700

55,203

50,679

12,000

Depreciation

At 1 September 2023

299

36,714

46,503

5,250

Charge for the year

171

4,622

607

1,688

At 31 August 2024

470

41,336

47,110

6,938

Carrying amount

At 31 August 2024

5,230

13,867

3,569

5,062

At 31 August 2023

5,401

18,489

4,176

6,750

Total
£

Cost or valuation

At 1 September 2023

123,582

At 31 August 2024

123,582

Depreciation

At 1 September 2023

88,766

Charge for the year

7,088

At 31 August 2024

95,854

Carrying amount

At 31 August 2024

27,728

At 31 August 2023

34,816

Included within the net book value of land and buildings above is £5,230 (2023 - £5,401) in respect of freehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.