Company Registration No. NI640303 (Northern Ireland)
Lilyash Limited
Unaudited accounts
for the year ended 31 August 2023
Lilyash Limited
Statement of financial position
as at 31 August 2023
Tangible assets
1,050
1,313
Inventories
311,533
200,551
Cash at bank and in hand
12,071
77,837
Creditors: amounts falling due within one year
(278,961)
(267,088)
Net current assets
87,762
21,488
Called up share capital
2
2
Profit and loss account
282,378
22,799
Shareholders' funds
282,380
22,801
For the year ending 31 August 2023 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 directors acknowledge 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 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 of Directors and authorised for issue on 31 January 2024 and were signed on its behalf by
Paul Stevenson
Director
Company Registration No. NI640303
Lilyash Limited
Notes to the Accounts
for the year ended 31 August 2023
Lilyash Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI640303. The registered office is 83 Rathkeel Road, Broughshane, Ballymena, BT42 4QE, Northern Ireland.
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:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
The directors believe that the company Lilyash Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
At 1 September 2022
20,000
At 1 September 2022
20,000
Lilyash Limited
Notes to the Accounts
for the year ended 31 August 2023
5
Tangible fixed assets
Fixtures & fittings
6
Investments
Subsidiary undertakings
Valuation at 1 September 2022
-
Valuation at 31 August 2023
193,568
Amounts falling due within one year
Other debtors
43,119
10,188
8
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
29,115
38,909
Trade creditors
107,763
138,502
Taxes and social security
91,141
22,671
Loans from directors
50,942
61,626
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 5 (2022: 5).
