Company Registration No. 11527848 (England and Wales)
Love Lilly Limited
Unaudited accounts
for the period from 20 August 2018 to 31 August 2019
Love Lilly Limited
Unaudited accounts
Contents
Love Lilly Limited
Company Information
for the period from 20 August 2018 to 31 August 2019
Directors
Mrs Lilly Criscione
Mrs Ann Elizabeth Maffia
Mr Phillip Herbert Maffia
Company Number
11527848 (England and Wales)
Registered Office
1 Durand Lane
Flitch Green
Little Dunmow
Essex
CM6 3FS
United Kingdom
Accountants
Miles & Co
8 Canon Road
Flitch Green
Dunmow
Essex
CM6 3GF
Love Lilly Limited
Statement of financial position
as at 31 August 2019
Cash at bank and in hand
1,592
Creditors: amounts falling due within one year
(1,220)
Total assets less current liabilities
25,699
Creditors: amounts falling due after more than one year
(41,900)
Called up share capital
100
Profit and loss account
(16,301)
Shareholders' funds
(16,201)
For the period ending 31 August 2019 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 19 August 2020 and were signed on its behalf by
Mrs Lilly Criscione
Director
Company Registration No. 11527848
Love Lilly Limited
Notes to the Accounts
for the period from 20 August 2018 to 31 August 2019
Love Lilly Limited is a private company, limited by shares, registered in England and Wales, registration number 11527848. The registered office is 1 Durand Lane, Flitch Green, Little Dunmow, Essex, CM6 3FS, United Kingdom.
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 been consistently applied within the same accounts.
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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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:
Fixtures & fittings
25% reducing balance
The company has elected to apply the provisions of Section 11: 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.
Financial assets and liabilities are offset and the net amount reported in the statements of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Short term debtors are measured at transaction price, less and impairments.
Cash and cash equivalents
Cash is presented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Love Lilly Limited
Notes to the Accounts
for the period from 20 August 2018 to 31 August 2019
Short term creditors are measured at the transaction price.
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or direct 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 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.
4
Tangible fixed assets
Fixtures & fittings
Charge for the period
6,572
6
Creditors: amounts falling due within one year
2019
Love Lilly Limited
Notes to the Accounts
for the period from 20 August 2018 to 31 August 2019
7
Creditors: amounts falling due after more than one year
2019
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
Shares issued during the period:
100 Ordinary shares of £1 each
100
9
Average number of employees
During the period the average number of employees was 0.
