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REGISTERED NUMBER: 09837075 (England and Wales)












FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2022 TO 30 OCTOBER 2023

FOR

LABBETT FAMILY FARMS LTD

LABBETT FAMILY FARMS LTD (REGISTERED NUMBER: 09837075)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2022 TO 30 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LABBETT FAMILY FARMS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 NOVEMBER 2022 TO 30 OCTOBER 2023







DIRECTOR: J R Labbett





REGISTERED OFFICE: Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA





REGISTERED NUMBER: 09837075 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

LABBETT FAMILY FARMS LTD (REGISTERED NUMBER: 09837075)

BALANCE SHEET
30 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,083 3,083
Tangible assets 5 28,603 32,732
30,686 35,815

CURRENT ASSETS
Stocks 250 4,000
Debtors 6 1,218 1,857
1,468 5,857
CREDITORS
Amounts falling due within one year 7 158,270 141,575
NET CURRENT LIABILITIES (156,802 ) (135,718 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(126,116

)

(99,903

)

CREDITORS
Amounts falling due after more than one year 8 3,500 5,500
NET LIABILITIES (129,616 ) (105,403 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (129,617 ) (105,404 )
SHAREHOLDERS' FUNDS (129,616 ) (105,403 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 October 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LABBETT FAMILY FARMS LTD (REGISTERED NUMBER: 09837075)

BALANCE SHEET - continued
30 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2024 and were signed by:





J R Labbett - Director


LABBETT FAMILY FARMS LTD (REGISTERED NUMBER: 09837075)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 NOVEMBER 2022 TO 30 OCTOBER 2023

1. STATUTORY INFORMATION

Labbett Family Farms Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 period 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.

LABBETT FAMILY FARMS LTD (REGISTERED NUMBER: 09837075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2022 TO 30 OCTOBER 2023

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 30 October 2023 10,000
AMORTISATION
At 1 November 2022 6,917
Charge for period 1,000
At 30 October 2023 7,917
NET BOOK VALUE
At 30 October 2023 2,083
At 31 October 2022 3,083

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 47,434 5,000 358 52,792
Additions 1,880 - - 1,880
Disposals (2,311 ) - - (2,311 )
At 30 October 2023 47,003 5,000 358 52,361
DEPRECIATION
At 1 November 2022 16,340 3,362 358 20,060
Charge for period 4,815 328 - 5,143
Eliminated on disposal (1,445 ) - - (1,445 )
At 30 October 2023 19,710 3,690 358 23,758
NET BOOK VALUE
At 30 October 2023 27,293 1,310 - 28,603
At 31 October 2022 31,094 1,638 - 32,732

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 141 -
Other debtors 522 580
VAT 143 570
Prepayments 412 707
1,218 1,857

LABBETT FAMILY FARMS LTD (REGISTERED NUMBER: 09837075)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 NOVEMBER 2022 TO 30 OCTOBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,515 10,880
Other creditors 3,076 -
Directors' current accounts 142,316 127,658
Accruals and prepaid income 1,363 3,037
158,270 141,575

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 3,500 5,500

9. GOING CONCERN

At 30th October 2023 the company had a net deficiency of assets of £129,616 (2022: £105,403). The director undertakes to financially support the company until trading conditions improve. It is therefore deemed appropriate to prepare the financial statements on the going concern basis.