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Company No: 11330088 (England and Wales)

LILIASANDCO LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2024
Pages for filing with the registrar

LILIASANDCO LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2024

Contents

LILIASANDCO LIMITED

BALANCE SHEET

As at 31 July 2024
LILIASANDCO LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 7,874,043 7,874,043
7,874,043 7,874,043
Current assets
Debtors
- due within one year 4 242,244 124,092
- due after more than one year 4 ( 3,147) 0
Cash at bank and in hand 751,242 713,823
990,339 837,915
Creditors: amounts falling due within one year 5 ( 7,819,439) ( 7,835,603)
Net current liabilities (6,829,100) (6,997,688)
Total assets less current liabilities 1,044,943 876,355
Net assets 1,044,943 876,355
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 1,044,843 876,255
Total shareholder's funds 1,044,943 876,355

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Liliasandco Limited (registered number: 11330088) were approved and authorised for issue by the Director. They were signed on its behalf by:

L Shakirzyanova
Director

09 April 2025

LILIASANDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
LILIASANDCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Liliasandco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Investment property

Investment property
£
Valuation
As at 01 August 2023 7,874,043
As at 31 July 2024 7,874,043

Valuation

The director has reviewed the market value of the properties owned by the company and concluded that the market value of the properties is not materially different to their cost as at 31 July 2024.

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 91,198 57,430
Other debtors 151,046 66,662
242,244 124,092
Debtors: amounts falling due after more than one year
Trade debtors ( 3,147) 0

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 10,751
Amounts owed to director 7,599,302 7,719,302
Accruals and deferred income 41,904 15,878
Taxation and social security 72,098 49,230
Other creditors 106,135 40,442
7,819,439 7,835,603

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

At the balance sheet date the company owed the director £7,599,302 (2023: £7,719,302) and this amount is included in creditors. This loan is provided unsecured, interest free and repayable on demand.