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Company No: 09411497 (England and Wales)

LANGARTH FARM LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

LANGARTH FARM LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

LANGARTH FARM LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
LANGARTH FARM LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS A H J Stephens
C L Stephens
H M Stephens
REGISTERED OFFICE Trewinnard 5 Langarth Court
West Trewirgie Road
Redruth
TR15 2FP
United Kingdom
COMPANY NUMBER 09411497 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
LANGARTH FARM LIMITED

BALANCE SHEET

As at 31 March 2024
LANGARTH FARM LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 228,764 249,456
228,764 249,456
Current assets
Stocks 4 1,855 7,790
Debtors 5 648 778
Cash at bank and in hand 446 3,296
2,949 11,864
Creditors: amounts falling due within one year 6 ( 767,183) ( 727,426)
Net current liabilities (764,234) (715,562)
Total assets less current liabilities (535,470) (466,106)
Net liabilities ( 535,470) ( 466,106)
Capital and reserves
Called-up share capital 7 3 3
Profit and loss account ( 535,473 ) ( 466,109 )
Total shareholders' deficit ( 535,470) ( 466,106)

For the financial 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.

Directors' responsibilities:

The financial statements of Langarth Farm Limited (registered number: 09411497) were approved and authorised for issue by the Board of Directors on 28 August 2024. They were signed on its behalf by:

A H J Stephens
Director
C L Stephens
Director
LANGARTH FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
LANGARTH FARM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

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

General information and basis of accounting

Langarth Farm 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 Trewinnard 5 Langarth Court, West Trewirgie Road, Redruth, TR15 2FP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

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.

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:

Leasehold improvements not depreciated
Plant and machinery 10 % reducing balance
Vehicles 25 % reducing balance
Office equipment 3 years straight line
Other property, plant and equipment 25 years straight line

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 1 1

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 April 2023 34,055 415,621 25,349 3,017 13,700 491,742
Additions 0 390 0 553 0 943
At 31 March 2024 34,055 416,011 25,349 3,570 13,700 492,685
Accumulated depreciation
At 01 April 2023 0 212,043 22,952 2,816 4,475 242,286
Charge for the financial year 0 20,357 599 131 548 21,635
At 31 March 2024 0 232,400 23,551 2,947 5,023 263,921
Net book value
At 31 March 2024 34,055 183,611 1,798 623 8,677 228,764
At 31 March 2023 34,055 203,578 2,397 201 9,225 249,456

4. Stocks

2024 2023
£ £
Stocks 1,855 7,790

5. Debtors

2024 2023
£ £
VAT recoverable 123 253
Other debtors 525 525
648 778

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 468 1,755
Amounts owed to directors 762,935 721,887
Accruals 3,780 3,781
Other taxation and social security 0 3
767,183 727,426

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each 3 3