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LILFORDS LTD

Registered Number
07232775
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

LILFORDS LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

Lorraine Bridden
Timothy John Bridden

Registered Address

Unit 3 Endsleigh Park
Endsleigh
Ivybridge
PL21 9JL

Registered Number

07232775 (England and Wales)
LILFORDS LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-1,112
-1,112
Current assets
Stocks421,00025,200
Debtors527,24731,469
Cash at bank and on hand1,5481,162
49,79557,831
Creditors amounts falling due within one year6(11,617)(12,736)
Net current assets (liabilities)38,17845,095
Total assets less current liabilities38,17846,207
Creditors amounts falling due after one year7(16,967)(18,410)
Provisions for liabilities8-(211)
Net assets21,21127,586
Capital and reserves
Called up share capital100100
Profit and loss account21,11127,486
Shareholders' funds21,21127,586
The financial statements were approved and authorised for issue by the Board of Directors on 31 May 2025, and are signed on its behalf by:
Timothy John Bridden
Director
Registered Company No. 07232775
LILFORDS LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Total

££
Cost or valuation
At 01 October 236,2506,250
Disposals(6,250)(6,250)
Depreciation and impairment
At 01 October 235,1385,138
On disposals(5,138)(5,138)
Net book value
At 30 September 24--
At 30 September 231,1121,112
4.Stocks

2024

2023

££
Work in progress21,00025,200
Total21,00025,200
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables1,320-
Other debtors25,92731,427
Prepayments and accrued income-42
Total27,24731,469
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,100-
Bank borrowings and overdrafts2,0662,015
Taxation and social security1932,515
Other creditors7,1387,138
Accrued liabilities and deferred income1,1201,068
Total11,61712,736
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,4073,473
Other creditors15,56014,937
Total16,96718,410
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-211
Total-211
9.Related party transactions
Included within liabilities are amounts owing to Mr and Mrs Bridden of £22,048 (2023 £21,424)