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Company No: 01213292 (England and Wales)

LARKFELL LIMITED

Unaudited Financial Statements
For the financial period from 01 January 2023 to 31 March 2024
Pages for filing with the registrar

LARKFELL LIMITED

Unaudited Financial Statements

For the financial period from 01 January 2023 to 31 March 2024

Contents

LARKFELL LIMITED

COMPANY INFORMATION

For the financial period from 01 January 2023 to 31 March 2024
LARKFELL LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 January 2023 to 31 March 2024
DIRECTORS Madeleine, Countess of Bessborough
The Honorable Charles Arthur Longfield Ponsonby (Appointed 10 August 2023)
SECRETARY Madeleine, Countess of Bessborough
REGISTERED OFFICE Roche Court
East Winterslow
Salisbury
SP5 1BG
United Kingdom
COMPANY NUMBER 01213292 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
LARKFELL LIMITED

BALANCE SHEET

As at 31 March 2024
LARKFELL LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 31.12.2022
£ £
Fixed assets
Tangible assets 3 526,678 604,721
526,678 604,721
Current assets
Stocks 1,000 1,000
Debtors 4 762,043 737,648
Cash at bank and in hand 1,105,398 962,959
1,868,441 1,701,607
Creditors: amounts falling due within one year 5 ( 554,544) ( 26,199)
Net current assets 1,313,897 1,675,408
Total assets less current liabilities 1,840,575 2,280,129
Provision for liabilities 98,495 8,256
Net assets 1,939,070 2,288,385
Capital and reserves
Called-up share capital 6 200 200
Profit and loss account 1,938,870 2,288,185
Total shareholder's funds 1,939,070 2,288,385

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Larkfell Limited (registered number: 01213292) were approved and authorised for issue by the Board of Directors on 12 July 2024. They were signed on its behalf by:

Madeleine, Countess of Bessborough
Director
LARKFELL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2023 to 31 March 2024
LARKFELL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 January 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Larkfell Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Roche Court, East Winterslow, Salisbury, SP5 1BG, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

To align the company's accounting reference date with an associated unincorporated entity to 31 March, the company's accounts cover a period of 15 months from 1 January 2023 to 31 March 2024. The comparative amounts stated cover the 12 month period to 31 December 2022.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 15 years straight line
Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
01.01.2023 to
31.03.2024
Year ended
31.12.2022
Number Number
Monthly average number of persons employed by the Company during the period, including directors 1 1

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 January 2023 935,662 859 936,521
At 31 March 2024 935,662 859 936,521
Accumulated depreciation
At 01 January 2023 331,223 577 331,800
Charge for the financial period 77,972 71 78,043
At 31 March 2024 409,195 648 409,843
Net book value
At 31 March 2024 526,467 211 526,678
At 31 December 2022 604,439 282 604,721

4. Debtors

31.03.2024 31.12.2022
£ £
Trade debtors 0 30,001
Amounts owed by Group undertakings 593,647 516,326
Corporation tax 0 64,574
Other debtors 168,396 126,747
762,043 737,648

5. Creditors: amounts falling due within one year

31.03.2024 31.12.2022
£ £
Trade creditors 10,323 492
Taxation and social security 26,096 3,357
Other creditors 518,125 22,350
554,544 26,199

6. Called-up share capital

31.03.2024 31.12.2022
£ £
Allotted, called-up and fully-paid
200 Ordinary shares of £ 1.00 each 200 200

7. Related party transactions - Transactions with directors

31.03.2024 31.12.2022
£ £
Brought forward 516,326 513,395
Advances to directors 77,321 10,195
Repayments by directors 0 (7,264)
593,647 516,326

The loan to participator is repayable on demand and interest is charged at HMRC interest rates.