REGISTERED NUMBER: 10028959 (England and Wales)

LILY & BEAN LIMITED

Unaudited Financial Statements

for the Year Ended 28 February 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

Directors:

Mrs J Tyrwhitt-Drake

Mr E Tyrwhitt-Drake

Registered office:

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

Registered number:

10028959 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

FIXED ASSETS

Intangible assets

4

34,868

-

Tangible assets

5

312,304

291,996

Investments

6

17,028

302,055

364,200

594,051

CURRENT ASSETS

Stocks

140,000

400,000

Debtors

7

808,934

1,481,421

Cash at bank

19,477

161,408

968,411

2,042,829

CREDITORS

Amounts falling due within one year

8

490,631

413,984

NET CURRENT ASSETS

477,780

1,628,845

TOTAL ASSETS LESS CURRENT LIABILITIES

841,980

2,222,896

PROVISIONS FOR LIABILITIES

5,392

16,713

NET ASSETS

836,588

2,206,183

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

1,405

3,765

Retained earnings

835,083

2,202,318

836,588

2,206,183

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2025 and were signed on its behalf by:

Mrs J Tyrwhitt-Drake - Director

1.	STATUTORY INFORMATION

Lily & Bean Limited 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 as modified by the revaluation of certain assets.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

20% on cost and 2% on cost

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 15% on reducing balance

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 Statement of Income and Retained Earnings, 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Going concern

The current economic conditions present increased risks for all businesses. In response to such conditions, the director has carefully considered these risks, including an assessment of uncertainty on future trading projections for a period of at least twelve months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the director considers that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations of external liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the director considers that the Company is not exposed to losses of these assets which would affect their decision to adopt the going concern basis.

The director is therefore satisfied and has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the Company's ability to continue as a going concern. Theses financial statements have therefore been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

Cost

Additions

36,919

At 28 February 2025

36,919

Amortisation

Charge for year

2,051

At 28 February 2025

2,051

Net book value

At 28 February 2025

34,868

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 March 2024

194,561

125,440

320,001

Additions

15,118

32,598

47,716

At 28 February 2025

209,679

158,038

367,717

Depreciation

At 1 March 2024

4,195

23,810

28,005

Charge for year

5,909

21,499

27,408

At 28 February 2025

10,104

45,309

55,413

Net book value

At 28 February 2025

199,575

112,729

312,304

At 29 February 2024

190,366

101,630

291,996

6.	FIXED ASSET INVESTMENTS

Other

investments

£

Cost or valuation

At 1 March 2024

302,055

Additions

9,023

Disposals

(288,940

)

Revaluations

11,573

Reclassification/transfer

(16,683

)

At 28 February 2025

17,028

Net book value

At 28 February 2025

17,028

At 29 February 2024

302,055

Cost or valuation at 28 February 2025 is represented by:

Other

investments

£

Valuation in 2023

5,020

Valuation in 2024

(14,719

)

Valuation in 2025

11,573

Cost

15,154

17,028

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

78,606

25,554

Other debtors

730,328

1,455,867

808,934

1,481,421

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

101,442

-

Trade creditors

131,264

21,817

Taxation and social security

168,588

374,689

Other creditors

89,337

17,478

490,631

413,984

9.	RELATED PARTY DISCLOSURES

During the year £100,000 was loaned to the director's family member M Crossley. This loan is due to be repaid in September 2025.

At 28.02.25 J Tyrwhitt-Drake's director's loan account was overdrawn by £384,983. The balance owed by J Tyrwhitt-Drake at 29.02.24 was £1,039,647.