LILY P’S PROPERTIES LTD


Director	PORTER, Lily


Registered Address	36a Griffiths Avenue
	Cheltenham
	GL51 7BL


Registered Number	15459917 (England and Wales)

Balance Sheet as at
28 February 2025

	Notes	2025
		£	£
Fixed assets
Tangible assets	4		243,393
			243,393
Current assets
Cash at bank and on hand		6,913
		6,913
Creditors amounts falling due within one year	5	(2,910)
Net current assets (liabilities)			4,003
Total assets less current liabilities			247,396
Creditors amounts falling due after one year	6		(240,062)
Net assets			7,334
Capital and reserves
Called up share capital			100
Profit and loss account			7,234
Shareholders' funds			7,334

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 31 October 2025, and are signed on its behalf by:

PORTER, Lily
Director
Registered Company No. 15459917

LILY P’S PROPERTIES LTD

Notes to the Financial Statements
for the period ended 28 February 2025

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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the 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.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2025
	Average number of employees during the year	1

3.	Deferred tax
	Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Total
	£	£	£
Cost or valuation
Additions	229,406	15,034	244,440
At 28 February 25	229,406	15,034	244,440
Depreciation and impairment
Charge for year	-	1,047	1,047
At 28 February 25	-	1,047	1,047
Net book value
At 28 February 25	229,406	13,987	243,393
At 31 January 24	-	-	-

5.	Creditors: amounts due within one year

		2025
		£
	Taxation and social security	1,716
	Accrued liabilities and deferred income	1,194
	Total	2,910

6.	Creditors: amounts due after one year

		2025
		£
	Bank borrowings and overdrafts	180,000
	Other creditors	60,062
	Total	240,062

7.	Related party transactions
	LILY P’S BEAUTY BOUTIQUE LTD Company controlled by Miss L Porter Rent received during the year £20,905.30