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REGISTERED NUMBER: 00204860 (England and Wales)












AMBROSE LIGHTON LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021






AMBROSE LIGHTON LIMITED (REGISTERED NUMBER: 00204860)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AMBROSE LIGHTON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: G S Woodward
Mrs S A Woodward





REGISTERED OFFICE: Kiln Cottage
Witham on the Hill
Bourne
Lincolnshire
PE10 0JH





REGISTERED NUMBER: 00204860 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Boston)
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

AMBROSE LIGHTON LIMITED (REGISTERED NUMBER: 00204860)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 1,541,545 3,087,175
Investments 4 5,104 5,104
1,546,649 3,092,279

CURRENT ASSETS
Stocks 41,714 52,360
Debtors 5 43,550 110,671
Cash at bank 46,827 47,169
132,091 210,200
CREDITORS
Amounts falling due within one year 6 342,638 421,239
NET CURRENT LIABILITIES (210,547 ) (211,039 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,336,102

2,881,240

CAPITAL AND RESERVES
Called up share capital 10,416 10,416
Revaluation reserve 7 861,305 1,956,700
Capital redemption reserve 699 699
Retained earnings 463,682 913,425
SHAREHOLDERS' FUNDS 1,336,102 2,881,240

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

AMBROSE LIGHTON LIMITED (REGISTERED NUMBER: 00204860)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:




G S Woodward - Director



Mrs S A Woodward - Director


AMBROSE LIGHTON LIMITED (REGISTERED NUMBER: 00204860)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. 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 as modified by the revaluation of certain assets.

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.
Freehold property - Straight line over 10 years
Motor vehicles, plant and machinery - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 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 year 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.

Farm valuation
Tenentright, produce, seeds, manures and stores are included in the accounts as enumerated by a director and are valued at the lower of cost and net realisable value on a basis consistent with previous years.


AMBROSE LIGHTON LIMITED (REGISTERED NUMBER: 00204860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


1. ACCOUNTING POLICIES - continued

Investments
Current asset investments are stated at the lower of cost and net realisable value at the balance sheet date. Any adjustments required are written off or back to the profit and loss account.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 4 ) .

3. TANGIBLE FIXED ASSETS
Motor
vehicles,
Freehold plant and
property machinery Totals
£    £    £   
COST OR VALUATION
At 1 January 2021 3,085,431 67,849 3,153,280
Additions 970 1,045 2,015
Disposals (1,546,948 ) - (1,546,948 )
At 31 December 2021 1,539,453 68,894 1,608,347
DEPRECIATION
At 1 January 2021 - 66,105 66,105
Charge for year - 697 697
At 31 December 2021 - 66,802 66,802
NET BOOK VALUE
At 31 December 2021 1,539,453 2,092 1,541,545
At 31 December 2020 3,085,431 1,744 3,087,175

Cost or valuation at 31 December 2021 is represented by:

Motor
vehicles,
Freehold plant and
property machinery Totals
£    £    £   
Valuation in 2020 861,305 - 861,305
Cost 678,148 68,894 747,042
1,539,453 68,894 1,608,347

AMBROSE LIGHTON LIMITED (REGISTERED NUMBER: 00204860)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2021
and 31 December 2021 5,104
NET BOOK VALUE
At 31 December 2021 5,104
At 31 December 2020 5,104

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 6,358 109,129
Other debtors 37,192 724
VAT - 818
43,550 110,671

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 31,081 136,470
Corporation Tax 342 7,187
VAT 48 -
Other creditors 15,754 -
Directors' current accounts 291,573 271,742
Accrued expenses 3,840 5,840
342,638 421,239

7. RESERVES
Revaluation
reserve
£   
At 1 January 2021 1,956,700
Disposal (1,095,395 )

At 31 December 2021 861,305