Company Registration No. 8618620 (England and Wales)
Lemongrass Foods Limited
Unaudited accounts
for the year ended 31 March 2024
Lemongrass Foods Limited
Unaudited accounts
Contents
Lemongrass Foods Limited
Company Information
for the year ended 31 March 2024
Company Number
8618620 (England and Wales)
Registered Office
Lytchett House, 13 Freeland Park
Wareham Road
Poole, Dorset
BH16 6FA
United Kingdom
Lemongrass Foods Limited
Statement of financial position
as at 31 March 2024
Tangible assets
6,262
9,410
Cash at bank and in hand
50,645
37,722
Creditors: amounts falling due within one year
(70,260)
(36,293)
Net current (liabilities)/assets
(6,907)
16,936
Total assets less current liabilities
(645)
26,346
Creditors: amounts falling due after more than one year
(15,667)
(26,451)
Net liabilities
(16,312)
(105)
Called up share capital
100
100
Profit and loss account
(16,412)
(205)
Shareholders' funds
(16,312)
(105)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 December 2024 and were signed on its behalf by
Ian N Wilkins
Director
Company Registration No. 8618620
Lemongrass Foods Limited
Notes to the Accounts
for the year ended 31 March 2024
Lemongrass Foods Limited is a private company, limited by shares, registered in England and Wales, registration number 8618620. The registered office is Lytchett House, 13 Freeland Park, Wareham Road, Poole, Dorset, BH16 6FA, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of seven years (2019: ten years). With the current business environment, the management believes that it should be written off on the basis of reduced future economic benefits.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25 % on cost
Computer equipment
25 % on cost
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items..
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Lemongrass Foods Limited
Notes to the Accounts
for the year ended 31 March 2024
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
These financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon the continued support from its shareholders and other creditors. If the company was unable to trade, adjustments would have to be made to reduce the value of the assets to their recoverable amounts and to provide further liabilities that might arise.
The director believes that with support from the shareholders and creditors continued funding will be provided to support the company whilst it moves towards profitability and to enable it to meet its day-to-day commitments from cashflows. As a consequence, the director believes that the company is well placed to manage its business risks successfully. As such, the director has a reasonable expectation that the company has adequate
resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Expenditure on research and development is written off in the year in which it is incurred.
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Intangible fixed assets
Goodwill
Lemongrass Foods Limited
Notes to the Accounts
for the year ended 31 March 2024
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2023
19,054
12,056
31,110
At 31 March 2024
19,869
12,181
32,050
At 1 April 2023
15,111
6,589
21,700
Charge for the year
1,819
2,269
4,088
At 31 March 2024
16,930
8,858
25,788
At 31 March 2024
2,939
3,323
6,262
At 31 March 2023
3,943
5,467
9,410
Amounts falling due within one year
Accrued income and prepayments
1,132
-
Other debtors
11,181
14,357
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
11,032
11,032
Trade creditors
8,156
12,009
Taxes and social security
1,172
1,136
8
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
Included in other creditors is an amount of £nil (2023: £nil) owed by the company to the director.
Lemongrass Foods Limited
Notes to the Accounts
for the year ended 31 March 2024
11
Average number of employees
During the year the average number of employees was 5 (2023: 9).