Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falsetrue11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01503968 2022-11-01 2023-10-31 01503968 2021-11-01 2022-10-31 01503968 2023-10-31 01503968 2022-10-31 01503968 c:Director1 2022-11-01 2023-10-31 01503968 d:OfficeEquipment 2022-11-01 2023-10-31 01503968 d:OfficeEquipment 2023-10-31 01503968 d:OfficeEquipment 2022-10-31 01503968 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 01503968 d:FreeholdInvestmentProperty 2023-10-31 01503968 d:FreeholdInvestmentProperty 2022-10-31 01503968 d:CurrentFinancialInstruments 2023-10-31 01503968 d:CurrentFinancialInstruments 2022-10-31 01503968 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01503968 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 01503968 d:ShareCapital 2023-10-31 01503968 d:ShareCapital 2022-10-31 01503968 d:OtherMiscellaneousReserve 2023-10-31 01503968 d:OtherMiscellaneousReserve 2022-10-31 01503968 d:RetainedEarningsAccumulatedLosses 2023-10-31 01503968 d:RetainedEarningsAccumulatedLosses 2022-10-31 01503968 c:FRS102 2022-11-01 2023-10-31 01503968 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 01503968 c:FullAccounts 2022-11-01 2023-10-31 01503968 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01503968 2 2022-11-01 2023-10-31 01503968 6 2022-11-01 2023-10-31 01503968 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 01503968










LYMINGTON FOODS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
LYMINGTON FOODS LIMITED
REGISTERED NUMBER: 01503968

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
885
1,197

Investments
 5 
465,021
473,558

Investment property
 6 
527,902
527,902

  
993,808
1,002,657

Current assets
  

Debtors: amounts falling due within one year
 7 
9,166
5,146

Cash at bank and in hand
  
11,700
16,019

  
20,866
21,165

Creditors: amounts falling due within one year
 8 
(10,665)
(14,307)

Net current assets
  
 
 
10,201
 
 
6,858

Total assets less current liabilities
  
1,004,009
1,009,515

  

Net assets
  
1,004,009
1,009,515


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
-
(1,266)

Profit and loss account
  
1,003,909
1,010,681

  
1,004,009
1,009,515


Page 1

 
LYMINGTON FOODS LIMITED
REGISTERED NUMBER: 01503968
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A M Rostand
Director
Date: 4 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LYMINGTON FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Lymington Foods Limited is a private company limited by share capital, incorporated in England and Wales. The address of the registered office is Pond Cottage, Main Road, East Boldre, Hampshire, United Kingdom, SO42 7WD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the company in respect of rent receivable.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
Over 4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 3

 
LYMINGTON FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in
Page 4

 
LYMINGTON FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
LYMINGTON FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 November 2022
1,249



At 31 October 2023

1,249



Depreciation


At 1 November 2022
52


Charge for the year on owned assets
312



At 31 October 2023

364



Net book value



At 31 October 2023
885



At 31 October 2022
1,197


5.


Fixed asset investments





Listed investments

£



Valuation


At 1 November 2022
473,558


Additions
67,637


Disposals
(58,575)


Revaluations
(17,599)



At 31 October 2023
465,021




Page 6

 
LYMINGTON FOODS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 November 2022
527,902



At 31 October 2023
527,902







7.


Debtors

2023
2022
£
£


Other debtors
9,166
5,146

9,166
5,146



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
222
1,992

Corporation tax
546
3,029

Other creditors
7,697
7,286

Accruals and deferred income
2,200
2,000

10,665
14,307



9.


Related party transactions

Included within other creditors due within one year is £6,841 due to a company under common control (2022: £6,841). This amount is interest free and repayable on demand.
Included within other creditors due within on year is £445 due to the director (2022 : £445). This amount is interest free and repayable on demand.

 
Page 7