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REGISTERED NUMBER: 12987944 (England and Wales)















L.S. FARM LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023






L.S. FARM LTD (REGISTERED NUMBER: 12987944)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L.S. FARM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DIRECTOR: G W Morgan





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 12987944 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

L.S. FARM LTD (REGISTERED NUMBER: 12987944)

BALANCE SHEET
5 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,175 -
1,175 -

CURRENT ASSETS
Stocks 29,900 197,958
Debtors 6 144,220 34,161
Cash at bank 8,380 -
182,500 232,119
CREDITORS
Amounts falling due within one year 7 100,048 274,009
NET CURRENT ASSETS/(LIABILITIES) 82,452 (41,890 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,627

(41,890

)

PROVISIONS FOR LIABILITIES 224 -
NET ASSETS/(LIABILITIES) 83,403 (41,890 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 83,303 (41,990 )
SHAREHOLDERS' FUNDS 83,403 (41,890 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

L.S. FARM LTD (REGISTERED NUMBER: 12987944)

BALANCE SHEET - continued
5 APRIL 2023


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 director and authorised for issue on 1 November 2023 and were signed by:





G W Morgan - Director


L.S. FARM LTD (REGISTERED NUMBER: 12987944)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1. STATUTORY INFORMATION

L.S. Farm Ltd 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.

Formation costs
Formation costs are fully amortised in the first period of trading.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 33% on cost

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 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 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.

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 year was 4 (2022 - NIL ) .

L.S. FARM LTD (REGISTERED NUMBER: 12987944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

4. INTANGIBLE FIXED ASSETS
Formation
expenses
£   
COST
At 6 April 2022
and 5 April 2023 179
AMORTISATION
At 6 April 2022
and 5 April 2023 179
NET BOOK VALUE
At 5 April 2023 -
At 5 April 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
Additions 1,062 407 1,469
At 5 April 2023 1,062 407 1,469
DEPRECIATION
Charge for year 159 135 294
At 5 April 2023 159 135 294
NET BOOK VALUE
At 5 April 2023 903 272 1,175

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 62,981 33,495
PAYE debtor 76 -
Directors' current accounts 69,388 -
VAT 11,397 666
Prepayments and accrued income 378 -
144,220 34,161

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 46,190 270,225
Tax 48,271 -
Wages control 3,037 -
Directors' current accounts - 2,738
Accruals and deferred income 2,550 1,046
100,048 274,009

L.S. FARM LTD (REGISTERED NUMBER: 12987944)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 6 April 2022 (41,990 )
Profit for the year 125,293
At 5 April 2023 83,303

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 5 April 2023 and the period ended 5 April 2022:

2023 2022
£    £   
G W Morgan
Balance outstanding at start of year 2,738 -
Amounts advanced (778,189 ) (6,100 )
Amounts repaid 706,063 8,838
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (69,388 ) 2,738

11. RELATED PARTY DISCLOSURES

The director Mr G W Morgan also trades as J W Morgan and Son and is a partner in Sutton Court Holiday Lets.

During the year goods and services were sold to J W Morgan and Son of £2,220 (2022 - £5,000) and goods and services purchased from J W Morgan and Son of £648,494 (2022 - Nil).

During the year goods and services were sold to Sutton Court Holiday Lets of £267 (2022 - Nil).