Company registration number 05952525 (England and Wales)
LIME & FERTILISER SPREADERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LIME & FERTILISER SPREADERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LIME & FERTILISER SPREADERS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
55,614
56,782
Investments
4
2,350
2,350
57,964
59,132
Current assets
Debtors
6
210
529
Cash at bank and in hand
87,013
91,119
87,223
91,648
Creditors: amounts falling due within one year
7
(8,996)
(10,946)
Net current assets
78,227
80,702
Net assets
136,191
139,834
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
135,191
138,834
Total equity
136,191
139,834

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 10 April 2024 and are signed on its behalf by:
Mr H T Rodwell
Director
Company registration number 05952525 (England and Wales)
LIME & FERTILISER SPREADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Lime & Fertiliser Spreaders Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o UHY Hacker Young, 23 Nevill Street, Abergavenny, Monmouthshire, United Kingdom, NP7 5AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Turnover represents property rental income excluding value added tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings freehold
2% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

LIME & FERTILISER SPREADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
LIME & FERTILISER SPREADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Land and buildings freehold
£
Cost
At 1 January 2023 and 31 December 2023
74,412
Depreciation and impairment
At 1 January 2023
17,630
Depreciation charged in the year
1,168
At 31 December 2023
18,798
Carrying amount
At 31 December 2023
55,614
At 31 December 2022
56,782

Included in cost of land and buildings is freehold land of £16,000 (2022: £16,000) which is not depreciated.

4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
2,350
2,350
5
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Class of
% Held
shares held
Direct
Indirect
Lime & Fertiliser Spreaders (South Wales) Limited
Ordinary
100.00
-

The registered office is 23 Nevill Street, Abergavenny, United Kingdom. NP7 5AA.

6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
210
529
LIME & FERTILISER SPREADERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
7,057
8,794
Other creditors
1,939
2,152
8,996
10,946
8
Related party transactions

As at the year end, an amount of £210 (2022: £529) due from Lime & Fertiliser Spreaders (South Wales) Limited and is included in debtors: amounts falling due within one year. A dividend of £nil (2022: £24,000) was paid by Lime & Fertiliser Spreaders (South Wales) Limited to Lime & Fertilisers Spreaders Limited during the year.

9
Directors' transactions

Dividends totalling £38,840 (2022 - £41,840) were paid in the year in respect of shares held by the company's directors.

 

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