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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
Page
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Lemongrass Foods Limited Company Information for the year ended 31 March 2024
Director
Ian N Wilkins
Company Number
8618620 (England and Wales)
Registered Office
Lytchett House, 13 Freeland Park Wareham Road Poole, Dorset BH16 6FA United Kingdom
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Lemongrass Foods Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,262 
9,410 
Current assets
Inventories
395 
1,150 
Debtors
12,313 
14,357 
Cash at bank and in hand
50,645 
37,722 
63,353 
53,229 
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)
Capital and reserves
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
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Lemongrass Foods Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items..
Deferred taxation
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.
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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.
Pension costs
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.
Going concern
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
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
42,148 
At 31 March 2024
42,148 
Amortisation
At 1 April 2023
42,148 
At 31 March 2024
42,148 
Net book value
At 31 March 2024
- 
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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 
Additions
815 
125 
940 
At 31 March 2024
19,869 
12,181 
32,050 
Depreciation
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 
Net book value
At 31 March 2024
2,939 
3,323 
6,262 
At 31 March 2023
3,943 
5,467 
9,410 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
1,132 
- 
Other debtors
11,181 
14,357 
12,313 
14,357 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
11,032 
11,032 
VAT
8,898 
10,995 
Trade creditors
8,156 
12,009 
Taxes and social security
1,172 
1,136 
Other creditors
359 
347 
Accruals
40,643 
774 
70,260 
36,293 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
15,667 
26,451 
9
Share capital
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.
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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).
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