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Registration number: 13651497

Lakeside Alpacas Ltd

Unaudited Filleted Financial Statements

for the Period from 1 October 2022 to 31 March 2023

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Lakeside Alpacas Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Lakeside Alpacas Ltd

Company Information

Director

Mr AJ Taylor

Registered office

South View Farm
Shillingford St George
Exeter
Devon
EX2 9UP

Accountants

Easterbrook Eaton Limited
Chartered Accountants
8 Jesu Street
Ottery St Mary
Devon
EX11 1EU

 

Lakeside Alpacas Ltd

(Registration number: 13651497)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

15,584

14,910

Current assets

 

Stocks

5

32,500

32,500

Debtors

6

617

143

Cash at bank and in hand

 

23

52

 

33,140

32,695

Creditors: Amounts falling due within one year

7

(85,363)

(76,939)

Net current liabilities

 

(52,223)

(44,244)

Net liabilities

 

(36,639)

(29,334)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(36,641)

(29,336)

Shareholders' deficit

 

(36,639)

(29,334)

For the financial period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 November 2023
 

.........................................
Mr AJ Taylor
Director

 

Lakeside Alpacas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
South View Farm
Shillingford St George
Exeter
Devon
EX2 9UP

These financial statements were authorised for issue by the director on 21 November 2023.

2

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance basis

Office and computer equipment

50% Reducing balance basis

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.

 

Lakeside Alpacas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Lakeside Alpacas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

9,325

7,840

17,165

Additions

2,114

207

2,321

At 31 March 2023

11,439

8,047

19,486

Depreciation

At 1 October 2022

-

2,255

2,255

Charge for the period

-

1,647

1,647

At 31 March 2023

-

3,902

3,902

Carrying amount

At 31 March 2023

11,439

4,145

15,584

At 30 September 2022

9,325

5,585

14,910

Included within the net book value of land and buildings above is £11,439 (2022 - £9,325) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

32,500

32,500

6

Debtors

Current

2023
£

2022
£

Other debtors

617

143

 

Lakeside Alpacas Ltd

Notes to the Unaudited Financial Statements for the Period from 1 October 2022 to 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

85,363

76,939

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2