2022-04-012023-09-302023-09-30false08574593Limegate 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Limegate Ltd

Registered Number
08574593
(England and Wales)

Unaudited Financial Statements for the Period ended
30 September 2023

Limegate Ltd
Company Information
for the period from 1 April 2022 to 30 September 2023

Director

Jason Jones

Registered Address

Grove Houser Sheldon Way
Larkfield
Aylesford
ME20 6SE

Registered Number

08574593 (England and Wales)
Limegate Ltd
Balance Sheet as at
30 September 2023

Notes

30 Sep 2023

31 Mar 2022

£

£

£

£

Fixed assets
Tangible assets3607,921298,318
607,921298,318
Current assets
Stocks4496,894219,350
Debtors1,121,9451,250,115
Cash at bank and on hand379,944106,799
1,998,7831,576,264
Creditors amounts falling due within one year5(1,632,611)(1,104,057)
Net current assets (liabilities)366,172472,207
Total assets less current liabilities974,093770,525
Creditors amounts falling due after one year6(548,092)(513,422)
Net assets426,001257,103
Capital and reserves
Called up share capital100100
Share premium1,000,000-
Profit and loss account(574,099)257,003
Shareholders' funds426,001257,103
The financial statements were approved and authorised for issue by the Director on 12 April 2024, and are signed on its behalf by:
Jason Jones
Director
Registered Company No. 08574593
Limegate Ltd
Notes to the Financial Statements
for the period ended 30 September 2023

1.Accounting policies
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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year1919
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2249,625134,482368,89619,878572,881
Additions194,519325,962-7,757528,238
Disposals--(12,169)-(12,169)
At 30 September 23244,144460,444356,72727,6351,088,950
Depreciation and impairment
At 01 April 2270899,918173,9361274,563
Charge for year71,10689,91145,449-206,466
At 30 September 2371,814189,829219,3851481,029
Net book value
At 30 September 23172,330270,615137,34227,634607,921
At 31 March 2248,91734,564194,96019,877298,318
4.Stocks

2023

2022

££
Work in progress496,894219,350
Total496,894219,350
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,502,672801,063
Bank borrowings and overdrafts35,789302,994
Accrued liabilities and deferred income94,150-
Total1,632,6111,104,057
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts548,092513,422
Total548,092513,422