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REGISTERED NUMBER: 04661264









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

LOBBS FARM SHOP LIMITED

LOBBS FARM SHOP LIMITED (REGISTERED NUMBER: 04661264)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOBBS FARM SHOP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: T J Lobb
I C Lobb
R T Lobb





SECRETARY: T J Lobb





REGISTERED OFFICE: Lobbs Farm Shop
Heligan
St Ewe
ST AUSTELL
Cornwall
PL26 6EN





REGISTERED NUMBER: 04661264





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

LOBBS FARM SHOP LIMITED (REGISTERED NUMBER: 04661264)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,422 76,749

CURRENT ASSETS
Stocks 60,338 61,563
Debtors 5 8,958 22,221
Cash at bank and in hand 67,044 80,720
136,340 164,504
CREDITORS
Amounts falling due within one year 6 147,752 206,897
NET CURRENT LIABILITIES (11,412 ) (42,393 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,010

34,356

CREDITORS
Amounts falling due after more than one
year

7

82,426

30,437
NET (LIABILITIES)/ASSETS (28,416 ) 3,919

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings (28,716 ) 3,619
SHAREHOLDERS' FUNDS (28,416 ) 3,919

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

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

LOBBS FARM SHOP LIMITED (REGISTERED NUMBER: 04661264)

BALANCE SHEET - continued
30 SEPTEMBER 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 19 February 2025 and were signed on its behalf by:





T J Lobb - Director


LOBBS FARM SHOP LIMITED (REGISTERED NUMBER: 04661264)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Lobbs Farm Shop Limited is a private company, limited by shares , registered in Not specified/Other. 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.

The accounts have been prepared on a going concern basis. The accounts show net current liabilities of £11,412 and net liabilities of £28,416 however this is after inclusion of a long term loan of £56,500 from the directors. The directors have given their continued support for the company.

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

Revenue is recognised for the sale of goods when the entity has transferred the significant risks and rewards of ownership, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over the 16 year lease term
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

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 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

LOBBS FARM SHOP LIMITED (REGISTERED NUMBER: 04661264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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 29 (2023 - 27 ) .

4. TANGIBLE FIXED ASSETS
Leasehold Plant and Motor
improvements equipment vehicles Totals
£    £    £    £   
COST
At 1 October 2023 167,681 264,100 19,198 450,979
Additions - 5,910 - 5,910
Disposals - (1,650 ) - (1,650 )
At 30 September 2024 167,681 268,360 19,198 455,239
DEPRECIATION
At 1 October 2023 151,124 206,295 16,811 374,230
Charge for year 1,236 14,167 597 16,000
Eliminated on disposal - (413 ) - (413 )
At 30 September 2024 152,360 220,049 17,408 389,817
NET BOOK VALUE
At 30 September 2024 15,321 48,311 1,790 65,422
At 30 September 2023 16,557 57,805 2,387 76,749

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,818 2,943
Other debtors 7,140 19,278
8,958 22,221

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 6,600
Trade creditors 81,164 69,173
Taxation and social security 17,379 18,866
Other creditors 43,653 112,258
147,752 206,897

LOBBS FARM SHOP LIMITED (REGISTERED NUMBER: 04661264)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 25,926 30,437
Other creditors 56,500 -
82,426 30,437

8. RELATED PARTY DISCLOSURES

The company is controlled by T J Lobb, I C Lobb and R T Lobb, directors, who together own 100% of the issued share capital.

During the period the company purchased goods and services to the value of £216,342 (2023: £216,150) and made sales of £8,606 (2023: £8,807) to T J Lobb, I C Lobb and R T Lobb, directors.

At the year end the company owed £30,905 (2023: £23,784), shown as trade creditors, and also owed £56,500 (2023: £63,000), included within other creditors, to T J Lobb, I C Lobb and R T Lobb, directors.

At the year end the company the company is owed £906 (2023: £758), shown as trade debtors, from T J Lobb, I C Lobb and R T Lobb, directors.

9. ULTIMATE CONTROLLING PARTY

The controlling and ultimate controlling parties are the directors, Mr T J Lobb, Mr I C Lobb and Mr R T Lobb.