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REGISTERED NUMBER: 02242887 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

The Lamb Limited

The Lamb Limited (Registered number: 02242887)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Lamb Limited

Company Information
for the Year Ended 30 June 2024







Directors: L M Dey
T M Dey
J M Dey





Secretary: L M Dey





Registered office: 10-11 Suffolk Parade
Cheltenham
Gloucestershire
GL50 2AB





Registered number: 02242887 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

The Lamb Limited (Registered number: 02242887)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,527 27,424

CURRENT ASSETS
Stocks 10,193 10,969
Debtors 5 2,237 11,212
Cash at bank and in hand 78,620 84,283
91,050 106,464
CREDITORS
Amounts falling due within one year 6 34,490 39,407
NET CURRENT ASSETS 56,560 67,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,087

94,481

PROVISIONS FOR LIABILITIES 3,549 2,652
NET ASSETS 83,538 91,829

CAPITAL AND RESERVES
Called up share capital 60 60
Capital redemption reserve 40 40
Retained earnings 83,438 91,729
SHAREHOLDERS' FUNDS 83,538 91,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

The Lamb Limited (Registered number: 02242887)

Balance Sheet - continued
30 June 2024


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 Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





T M Dey - Director


The Lamb Limited (Registered number: 02242887)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

The Lamb Limited 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.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Leasehold land and buildings - 21 years straight line
Fixtures, fittings and equipment - 25% reducing balance/50 years straight line
Computer equipment - 33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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

The Lamb Limited (Registered number: 02242887)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Classification of 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 the assets of the company after deducting all of its liabilities.


Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

Taxation
Taxation for the year 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.


The Lamb Limited (Registered number: 02242887)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 July 2023 89,677 126,608 216,285
Additions - 7,982 7,982
At 30 June 2024 89,677 134,590 224,267
Depreciation
At 1 July 2023 89,677 99,184 188,861
Charge for year - 4,879 4,879
At 30 June 2024 89,677 104,063 193,740
Net book value
At 30 June 2024 - 30,527 30,527
At 30 June 2023 - 27,424 27,424

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,237 11,212

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,748 8,388
Taxation and social security 19,516 16,170
Other creditors 8,226 14,849
34,490 39,407

The Lamb Limited (Registered number: 02242887)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. FINANCIAL COMMITMENTS

The total value of financial commitments, guarantees and contingencies that are not included in the balance sheet amounts to £122,500 (2023: £0).

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
J M Dey
Balance outstanding at start of year 9,100 -
Amounts advanced - 9,100
Amounts repaid (9,100 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 9,100

No interest has been charged on this balance.