Company registration number:
for the Year Ended
Lynchmead Farms Limited
(Registration number: 05233789)
Balance Sheet as at 29 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Other financial assets |
2,359,741 |
2,182,397 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Lynchmead Farms Limited
Notes to the Financial Statements
for the Year Ended 29 March 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and then Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for provision of management services and the profit share from investments in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
Income from management charges and profit share is recognised when the company becomes irrecovably enitled to the income.
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
Other financial assets are the company's investment in an unicorporated business. Investments are stated at historical cost less provision for diminution in value.
Lynchmead Farms Limited
Notes to the Financial Statements
for the Year Ended 29 March 2023
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Other debtors and loans receivable are initially recognised at fair value net of transaction costs and are subsequently measure at amortised cost using the effective interest method less provision for impairment.
Creditors
Other financial liabilities, including loans, are measured initially at fair value net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
Lynchmead Farms Limited
Notes to the Financial Statements
for the Year Ended 29 March 2023
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 30 March 2022 |
2,182,397 |
2,182,397 |
Additions |
177,344 |
177,344 |
At 29 March 2023 |
2,359,741 |
2,359,741 |
Carrying amount |
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At 29 March 2023 |
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2,359,741 |
Debtors |
Current |
2023 |
2022 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Creditors |
2023 |
2022 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Corporation tax |
33,689 |
37,574 |
Other creditors |
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Lynchmead Farms Limited
Notes to the Financial Statements
for the Year Ended 29 March 2023
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
Guarantees
The company has provided financial guarantees to the bank in respect of other companies within the Mead Realisations Group totalling £9,674,959. At the year end there was no exposure to these amounts.
Lynchmead Farms Limited
Notes to the Financial Statements
for the Year Ended 29 March 2023
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Summary of transactions with other related parties
The company has taken advantage of the exemption provided from disclosing transactions with other group companies on the grounds it is a wholly owned subsidiary.
Parent and ultimate parent undertaking |
The company's immediate parent is
The most senior parent entity producing publicly available financial statements is
The ultimate controlling party is
Audit Report |