Love Lily Cake Design Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10570864 (England and Wales)

Unaudited Financial Statements

for the Period 1 February 2018 to 31 March 2019

for

Love Lily Cake Design Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P A Ganley

Miss G R Ganley

REGISTERED OFFICE:

1 Pier Point

Marine Walk

Sunderland

Tyne and Wear

SR6 0PP

REGISTERED NUMBER:

10570864 (England and Wales)

ACCOUNTANTS:

John Alderdice & Son

Chartered Accountants

21 Sherburn Terrace

Consett

Co. Durham

FIXED ASSETS

Tangible assets

4

19,612

23,017

CURRENT ASSETS

Debtors

5

14,118

11,426

Cash at bank

1,434

3,421

15,552

14,847

CREDITORS

Amounts falling due within one year

6

(39,618

)

(67,990

)

NET CURRENT LIABILITIES

(24,066

)

(53,143

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(4,454

)

(30,126

)

PROVISIONS FOR LIABILITIES

(3,726

)

(4,373

)

NET LIABILITIES

(8,180

)

(34,499

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(8,280

)

(34,599

)

SHAREHOLDERS' FUNDS

(8,180

)

(34,499

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 23 December 2019 and were signed on its behalf by:

Miss G R Ganley - Director

1.	STATUTORY INFORMATION

Love Lily Cake Design 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

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

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2018

30,690

Additions

2,400

At 31 March 2019

33,090

DEPRECIATION

At 1 February 2018

7,673

Charge for period

5,805

At 31 March 2019

13,478

NET BOOK VALUE

At 31 March 2019

19,612

At 31 January 2018

23,017

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.1.18

£

£

Trade debtors

-

85

Other debtors

14,118

11,341

14,118

11,426

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.1.18

£

£

Bank loans and overdrafts

1,879

18,125

Hire purchase contracts

-

7,009

Trade creditors

9,997

8,079

Amounts owed to group undertakings

20,922

12,817

Taxation and social security

6,790

3,499

Other creditors

30

18,461

39,618

67,990