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REGISTERED NUMBER: 12084050 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

LILLY AUSTIN PROPERTY DEVELOPMENT LTD

LILLY AUSTIN PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 12084050)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


LILLY AUSTIN PROPERTY DEVELOPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mr W A Davies
Mrs S M Speed-Davies





REGISTERED OFFICE: 4 Gilliards Croft
Kings Bromley
Burton-On-Trent
Staffordshire
DE13 7HX





REGISTERED NUMBER: 12084050 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ

LILLY AUSTIN PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 12084050)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

2024 2023
Notes £    £    £   
Fixed assets
Investment property 5 410,000 410,000

Current assets
Debtors 6 1,359 2,360
Cash at bank 12,925 14,332
14,284 16,692
Creditors
Amounts falling due within one year 7 372,065 379,979
Net current liabilities (357,781 ) (363,287 )
Total assets less current liabilities 52,219 46,713

Provisions for liabilities 7,699 7,699
Net assets 44,520 39,014

Capital and reserves
Called up share capital 8 10 10
Non distributable reserve 9 32,824 32,824
Retained earnings 11,686 6,180
Shareholders' funds 44,520 39,014

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LILLY AUSTIN PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 12084050)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:





Mrs S M Speed-Davies - Director


LILLY AUSTIN PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 12084050)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Lilly Austin Property Development Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

LILLY AUSTIN PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 12084050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 410,000
NET BOOK VALUE
At 31 July 2024 410,000
At 31 July 2023 410,000

During the previous year, the company purchased an investment property, 17 Corbar Road, Stockport, SK2 6EP for £369,477 inclusive of costs.

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2022 70,523
Valuation in 2023 (30,000 )
Cost 369,477
410,000

If 17 Corbar Road had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 369,477 369,477

17 Corbar Road was valued on market value basis on 31 July 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,050 2,100
Other debtors 309 260
1,359 2,360

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 8,468
Taxation and social security 169 -
Other creditors 371,896 371,511
372,065 379,979

LILLY AUSTIN PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 12084050)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

9. RESERVES
Non
distributable
reserve
£   
At 1 August 2023
and 31 July 2024 32,824

10. RELATED PARTY DISCLOSURES

At the year end, the company owed the directors £370,516 (2023: £370,214). This loan is interest free and repayable on demand.