Company Registration No. 07245896 (England and Wales)
HOLO LILO LIMITED
Unaudited accounts
for the year ended 31 May 2022
HOLO LILO LIMITED
Statement of financial position
as at 31 May 2022
Intangible assets
2,373
3,171
Cash at bank and in hand
59,686
33,852
Creditors: amounts falling due within one year
(12,868)
(9,594)
Net current assets
61,109
45,325
Total assets less current liabilities
63,961
49,210
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
63,869
49,028
Shareholders' funds
63,870
49,029
For the year ending 31 May 2022 the company was entitled to exemption from audit 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 February 2023 and were signed on its behalf by
Emma L Benson
Director
Company Registration No. 07245896
HOLO LILO LIMITED
Notes to the Accounts
for the year ended 31 May 2022
HOLO LILO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07245896. The registered office is 120A Bolling Road, ILKLEY, West Yorkshire, LS29 8PN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25.00% Straight Line
Computer equipment
33.33% Straight Line
Other tangible fixed assets
10.00% Straight Line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
HOLO LILO LIMITED
Notes to the Accounts
for the year ended 31 May 2022
4
Intangible fixed assets
Total
5
Tangible fixed assets
Total
6
Transactions with related parties
The Director, Miss E Benson holds 100% of the share capital and received 100% of the dividends. During the year the company paid dividends of £22,350 (2021- £13,250) to the Director.
7
Average number of employees
During the year the average number of employees was 1 (2021: 1).
