Lily Phillips Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—4

Registered number: 13175441

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		12,766		9,402

			12,766		9,402
CURRENT ASSETS
Debtors		772,447		-
Cash at bank and in hand		1,447,167		384,785

		2,219,614		384,785
Creditors: Amounts Falling Due Within One Year		(757,747 )		(155,186 )

NET CURRENT ASSETS (LIABILITIES)			1,461,867		229,599

TOTAL ASSETS LESS CURRENT LIABILITIES			1,474,633		239,001

NET ASSETS			1,474,633		239,001

CAPITAL AND RESERVES
Called up share capital	5		100		100
Profit and Loss Account			1,474,533		238,901

SHAREHOLDERS' FUNDS			1,474,633		239,001

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Lily Phillips Limited

Abridged Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 28 February 2025 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Miss Lillian Phillips

Director

26 November 2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Lily Phillips Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13175441 . The registered office is Unit 6, Heritage Business Centre, Derby Road, Belper, Derbyshire, DE56 1SW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	25% on reducing balance
Computer Equipment	25% on reducing balance

2.4. Taxation

The tax expense represents tax currently payable by the company. Current tax is recognised in the profit and loss account based on the taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expenses that are taxable or deductible in other years and items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is not recognised on timing differences arising from gains or losses in the financial statements that are taxable or deductible in future periods.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 1)

4. Tangible Assets

	Total
	£
Cost
As at 1 March 2024	12,985
Additions	6,391

As at 28 February 2025	19,376

...CONTINUED

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Lily Phillips Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 28 February 2025

Depreciation
As at 1 March 2024	3,583
Provided during the period	3,027

As at 28 February 2025	6,610

Net Book Value
As at 28 February 2025	12,766

As at 1 March 2024	9,402

5. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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