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REGISTERED NUMBER: 07723634 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 August 2024

for

Layla Grace Ltd

Layla Grace Ltd (Registered number: 07723634)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Layla Grace Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs H C Bicknell
M G Bicknell





SECRETARY: Mrs H C Bicknell





REGISTERED OFFICE: Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT





REGISTERED NUMBER: 07723634 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Layla Grace Ltd (Registered number: 07723634)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 14,885 19,720
Tangible assets 5 90,056 42,286
104,941 62,006

CURRENT ASSETS
Stocks 571,000 588,000
Debtors 6 - 2,562
Cash at bank 115,882 138,407
686,882 728,969
CREDITORS
Amounts falling due within one year 7 637,032 647,314
NET CURRENT ASSETS 49,850 81,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

154,791

143,661

CREDITORS
Amounts falling due after more than one year 8 (56,877 ) (69,891 )

PROVISIONS FOR LIABILITIES (22,514 ) (10,572 )
NET ASSETS 75,400 63,198

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 75,390 63,188
SHAREHOLDERS' FUNDS 75,400 63,198

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Layla Grace Ltd (Registered number: 07723634)

Balance Sheet - continued
31 August 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 15 April 2025 and were signed on its behalf by:





M G Bicknell - Director


Layla Grace Ltd (Registered number: 07723634)

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

1. STATUTORY INFORMATION

Layla Grace 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 12 ) .

Layla Grace Ltd (Registered number: 07723634)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Trademarks
and
licences
£   
COST
At 1 September 2023
and 31 August 2024 48,350
AMORTISATION
At 1 September 2023 28,630
Amortisation for year 4,835
At 31 August 2024 33,465
NET BOOK VALUE
At 31 August 2024 14,885
At 31 August 2023 19,720

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 47,173 154,345 - 48,513 250,031
Additions 10,790 610 52,840 7,928 72,168
At 31 August 2024 57,963 154,955 52,840 56,441 322,199
DEPRECIATION
At 1 September 2023 40,579 127,061 - 40,105 207,745
Charge for year 1,649 5,579 10,568 6,602 24,398
At 31 August 2024 42,228 132,640 10,568 46,707 232,143
NET BOOK VALUE
At 31 August 2024 15,735 22,315 42,272 9,734 90,056
At 31 August 2023 6,594 27,284 - 8,408 42,286

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 2,562

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 35,986 36,645
Hire purchase contracts 10,710 -
Trade creditors 348,980 364,987
Taxation and social security 227,583 228,564
Other creditors 13,773 17,118
637,032 647,314

Layla Grace Ltd (Registered number: 07723634)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 34,564 69,891
Hire purchase contracts 22,313 -
56,877 69,891

9. RELATED PARTY DISCLOSURES

The the end of the year the directors were owed £863 (2023: £759).