2022-03-012023-02-282023-02-28false11189092LUCY'S FARM SHOP 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LUCY'S FARM SHOP LTD

Registered Number
11189092
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

LUCY'S FARM SHOP LTD
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

TIDBURY, Lucy

Registered Address

Unit 5 Commercial Road
Swanage
BH19 1DF

Registered Number

11189092 (England and Wales)
LUCY'S FARM SHOP LTD
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets534,28139,215
34,28139,215
Current assets
Stocks630,31728,241
Debtors77,1603,027
Cash at bank and on hand20,39729,350
57,87460,618
Creditors amounts falling due within one year8(6,375)(20,067)
Net current assets (liabilities)51,49940,551
Total assets less current liabilities85,78079,766
Creditors amounts falling due after one year9(25,190)(28,917)
Net assets60,59050,849
Capital and reserves
Called up share capital11
Profit and loss account60,58950,848
Shareholders' funds60,59050,849
The financial statements were approved and authorised for issue by the Director on 19 October 2023, and are signed on its behalf by:
TIDBURY, Lucy
Director
Registered Company No. 11189092
LUCY'S FARM SHOP LTD
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 March 2220,32022,50042,820
At 28 February 2320,32022,50042,820
Depreciation and impairment
At 01 March 221,3552,2503,605
Charge for year1,8963,0384,934
At 28 February 233,2515,2888,539
Net book value
At 28 February 2317,06917,21234,281
At 28 February 2218,96520,25039,215
6.Stocks

2023

2022

££
Finished goods30,31728,241
Total30,31728,241
7.Debtors

2023

2022

££
Trade debtors / trade receivables3,0431,842
Prepayments and accrued income4,1171,185
Total7,1603,027
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables2,6046,685
Amounts owed to related parties1,37812,045
Taxation and social security2,3271,337
Other creditors66-
Total6,37520,067
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts25,19028,917
Total25,19028,917