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REGISTERED NUMBER: 09091173 (England and Wales)
















LANE END FARMSHOP LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






LANE END FARMSHOP LIMITED (REGISTERED NUMBER: 09091173)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LANE END FARMSHOP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: M Hare





SECRETARY: S L Healey





REGISTERED OFFICE: Glenewes House
Gate Way Drive
Yeadon
Leeds
West Yorkshire
LS19 7XY





REGISTERED NUMBER: 09091173 (England and Wales)





ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

LANE END FARMSHOP LIMITED (REGISTERED NUMBER: 09091173)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 53,061 54,600
53,061 54,600

CURRENT ASSETS
Stocks 19,336 16,173
Debtors 6 79,227 68,431
Cash at bank and in hand 70,273 31,302
168,836 115,906
CREDITORS
Amounts falling due within one year 7 107,176 90,216
NET CURRENT ASSETS 61,660 25,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,721

80,290

PROVISIONS FOR LIABILITIES 11,894 13,354
NET ASSETS 102,827 66,936

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 102,727 66,836
SHAREHOLDERS' FUNDS 102,827 66,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

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

LANE END FARMSHOP LIMITED (REGISTERED NUMBER: 09091173)

BALANCE SHEET - continued
31 JULY 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 11 March 2024 and were signed by:





M Hare - Director


LANE END FARMSHOP LIMITED (REGISTERED NUMBER: 09091173)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Lane End Farmshop Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 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.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors and trade creditors.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.


LANE END FARMSHOP LIMITED (REGISTERED NUMBER: 09091173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 14 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 August 2022
and 31 July 2023 200,000
AMORTISATION
At 1 August 2022
and 31 July 2023 200,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

LANE END FARMSHOP LIMITED (REGISTERED NUMBER: 09091173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 August 2022 213,199
Additions 7,638
At 31 July 2023 220,837
DEPRECIATION
At 1 August 2022 158,599
Charge for year 9,177
At 31 July 2023 167,776
NET BOOK VALUE
At 31 July 2023 53,061
At 31 July 2022 54,600

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 25 26
Other debtors 79,202 68,405
79,227 68,431

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 55,269 63,890
Taxation and social security 41,178 14,386
Other creditors 10,729 11,940
107,176 90,216

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
£ £
M Hare
Balance outstanding at start of year 59,181 12,030
Amounts advanced 70,199 95,216
Amounts repaid (60,919 ) (48,065 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,461 59,181

LANE END FARMSHOP LIMITED (REGISTERED NUMBER: 09091173)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

A Hare
Balance outstanding at start of year - 12,029
Amounts advanced - 33,221
Amounts repaid - (45,250 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -