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REGISTERED NUMBER: 06799865 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Norfolk Lavender Estates Limited

Norfolk Lavender Estates Limited (Registered number: 06799865)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


Norfolk Lavender Estates Limited (Registered number: 06799865)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £
Fixed assets
Intangible assets 5 2 2
Tangible assets 6 25,285 26,323
Investment property 7 1,336,248 1,319,748
1,361,535 1,346,073

Current assets
Debtors 8 378,878 400,754
Cash at bank 211,543 122,878
590,421 523,632
Creditors
Amounts falling due within one year 9 (959,805 ) (948,568 )
Net current liabilities (369,384 ) (424,936 )
Total assets less current liabilities 992,151 921,137

Provisions for liabilities (9,119 ) (7,505 )
Net assets 983,032 913,632

Capital and reserves
Called up share capital 100 100
Retained earnings 982,932 913,532
983,032 913,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Norfolk Lavender Estates Limited (Registered number: 06799865)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr N J Williamson - Director


Norfolk Lavender Estates Limited (Registered number: 06799865)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. Statutory information

Norfolk Lavender Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06799865

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Given the straightforward operations and financial position of the company, there are not considered to be any key sources of judgement or estimation uncertainty within these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% p.a. reducing balance
Fixtures and fittings - 15% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance

Norfolk Lavender Estates Limited (Registered number: 06799865)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. Accounting policies - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Norfolk Lavender Estates Limited (Registered number: 06799865)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

5. Intangible fixed assets
Patents and
licences
£
Cost
At 1 January 2023
and 31 December 2023 13,914
Amortisation
At 1 January 2023
and 31 December 2023 13,912
Net book value
At 31 December 2023 2
At 31 December 2022 2

Norfolk Lavender Estates Limited (Registered number: 06799865)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
Cost
At 1 January 2023 15,355 131,343 21,500 168,198
Additions 3,730 - - 3,730
At 31 December 2023 19,085 131,343 21,500 171,928
Depreciation
At 1 January 2023 11,698 111,263 18,914 141,875
Charge for year 1,109 3,012 647 4,768
At 31 December 2023 12,807 114,275 19,561 146,643
Net book value
At 31 December 2023 6,278 17,068 1,939 25,285
At 31 December 2022 3,657 20,080 2,586 26,323

7. Investment property
Total
£
Fair value
At 1 January 2023 1,319,748
Additions 16,500
At 31 December 2023 1,336,248
Net book value
At 31 December 2023 1,336,248
At 31 December 2022 1,319,748

The directors have considered the valuation of the investment property and have decided the cost value is still appropriate at 31st December 2023.

8. Debtors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade debtors 16,250 16,250
Other debtors 362,628 384,504
378,878 400,754

Norfolk Lavender Estates Limited (Registered number: 06799865)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. Creditors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade creditors 3,852 1,220
Taxation and social security 6,412 20,335
Other creditors 949,541 927,013
959,805 948,568