Acorah Software Products - Accounts Production 14.6.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 09202682 A F Bolton V Ferrett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 09202682 2023-03-31 09202682 2024-03-31 09202682 2023-04-01 2024-03-31 09202682 frs-core:CurrentFinancialInstruments 2024-03-31 09202682 frs-core:Non-currentFinancialInstruments 2024-03-31 09202682 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 09202682 frs-core:FurnitureFittings 2024-03-31 09202682 frs-core:FurnitureFittings 2023-04-01 2024-03-31 09202682 frs-core:FurnitureFittings 2023-03-31 09202682 frs-core:MotorVehicles 2024-03-31 09202682 frs-core:MotorVehicles 2023-04-01 2024-03-31 09202682 frs-core:MotorVehicles 2023-03-31 09202682 frs-core:OtherResidualIntangibleAssets 2024-03-31 09202682 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 09202682 frs-core:OtherResidualIntangibleAssets 2023-03-31 09202682 frs-core:ShareCapital 2024-03-31 09202682 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 09202682 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09202682 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 09202682 frs-bus:SmallEntities 2023-04-01 2024-03-31 09202682 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09202682 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09202682 frs-bus:Director1 2023-04-01 2024-03-31 09202682 frs-bus:Director2 2023-04-01 2024-03-31 09202682 frs-core:Non-currentFinancialInstruments 1 2024-03-31 09202682 frs-core:CurrentFinancialInstruments 2 2024-03-31 09202682 frs-core:Non-currentFinancialInstruments 2 2024-03-31 09202682 frs-countries:EnglandWales 2023-04-01 2024-03-31 09202682 2022-03-31 09202682 2023-03-31 09202682 2022-04-01 2023-03-31 09202682 frs-core:CurrentFinancialInstruments 2023-03-31 09202682 frs-core:Non-currentFinancialInstruments 2023-03-31 09202682 frs-core:ShareCapital 2023-03-31 09202682 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 09202682 frs-core:CurrentFinancialInstruments 1 2023-03-31 09202682 frs-core:Non-currentFinancialInstruments 1 2023-03-31 09202682 frs-core:CurrentFinancialInstruments 2 2023-03-31 09202682 frs-core:Non-currentFinancialInstruments 2 2023-03-31
Registered number: 09202682
Lime Wharf Cafe and Farm Shop Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 09202682
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 134,500 148,000
Tangible Assets 5 78,500 102,500
213,000 250,500
CURRENT ASSETS
Stocks 6 2,000 1,500
Cash at bank and in hand 45,238 50,238
47,238 51,738
Creditors: Amounts Falling Due Within One Year 7 (127,664 ) (117,085 )
NET CURRENT ASSETS (LIABILITIES) (80,426 ) (65,347 )
TOTAL ASSETS LESS CURRENT LIABILITIES 132,574 185,153
Creditors: Amounts Falling Due After More Than One Year 8 (117,288 ) (142,335 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,000 ) (19,500 )
NET ASSETS 286 23,318
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 186 23,218
SHAREHOLDERS' FUNDS 286 23,318
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
V Ferrett
Director
31 May 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lime Wharf Cafe and Farm Shop Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09202682 . The registered office is Riverside Cottage Station Road, Northiam, Rye, TN31 6FE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. Turnover
Turnover represents net sales of food, alcohol and beverages.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Leasehold improvements
Leasehold improvements, being the amount paid in connection with the construction of a building/premises, is being amortised evenly over its estimated useful life of ten years, from 1/2/16, reevaluated to twenty years from 1/4/19 onwards.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 15% on cost
Equipment, fixtures & fittings 10% on cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 25 (2023: 28)
25 28
4. Intangible Assets
Leasehold improvements
£
Cost
As at 1 April 2023 269,646
As at 31 March 2024 269,646
Amortisation
As at 1 April 2023 121,646
Provided during the period 13,500
As at 31 March 2024 135,146
Net Book Value
As at 31 March 2024 134,500
As at 1 April 2023 148,000
5. Tangible Assets
Motor Vehicles Equipment, fixtures & fittings Total
£ £ £
Cost
As at 1 April 2023 38,900 159,295 198,195
Additions - 15,970 15,970
Disposals (38,900 ) - (38,900 )
As at 31 March 2024 - 175,265 175,265
...CONTINUED
Page 4
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Depreciation
As at 1 April 2023 14,900 80,795 95,695
Provided during the period 6,000 15,970 21,970
Disposals (20,900 ) - (20,900 )
As at 31 March 2024 - 96,765 96,765
Net Book Value
As at 31 March 2024 - 78,500 78,500
As at 1 April 2023 24,000 78,500 102,500
6. Stocks
2024 2023
£ £
Stock of food, alcohol and beverages 2,000 1,500
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 25,000 25,000
Corporation tax 9,645 8,968
VAT 3,731 3,725
Hire purchase contracts - 3,242
Intercompany current accounts 52,250 41,750
Directors' loan accounts 37,038 34,400
127,664 117,085
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loan - repayable within 5 years 117,288 125,000
Bank loan - repayable over 5 years - 17,335
117,288 142,335
The bank loan is secured by a first charge on the land and buildings at Rye Road, Newenden, owed by the directors.
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5
Page 6
10. Related Party Transactions
The company is under the control of A F Bolton and V Ferrett, the directors. At the year end the directors are owed £37,038 by the company (2023: £34,400).
Rent is payable by the company to the Directors at the rate of £16,500 per annum in accordance with the initial 7 year lease which is expected to be renewed when this expires.
A management charge was paid to an associated company for £16,000 (2023: £0) during the year, relating to services provided at normal commercial rates.
Page 6