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REGISTERED NUMBER: 11864029 (England and Wales)















LAPWING FINE FOODS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






LAPWING FINE FOODS LIMITED (REGISTERED NUMBER: 11864029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


LAPWING FINE FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: J F S Brown
Mrs K V Brown



REGISTERED OFFICE: Everton Carr Farm
Claybank Lane
Everton
Doncaster
South Yorkshire
DN10 5BZ



BUSINESS ADDRESS: 8 Market Place
Tickhill
South Yorkshire
DN11 9HT



REGISTERED NUMBER: 11864029 (England and Wales)



SENIOR STATUTORY AUDITOR: Mike Argyle BSc ACA



AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

LAPWING FINE FOODS LIMITED (REGISTERED NUMBER: 11864029)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 148,373 212,780

CURRENT ASSETS
Inventories 5,248 2,788
Debtors 5 87,329 159,818
Cash at bank and in hand 12,761 23,180
105,338 185,786
CREDITORS
Amounts falling due within one year 6 1,255,878 1,132,052
NET CURRENT LIABILITIES (1,150,540 ) (946,266 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,002,167 ) (733,486 )

PROVISIONS FOR LIABILITIES - 19,534
NET LIABILITIES (1,002,167 ) (753,020 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (1,002,168 ) (753,021 )
SHAREHOLDERS' FUNDS (1,002,167 ) (753,020 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





J F S Brown - Director


LAPWING FINE FOODS LIMITED (REGISTERED NUMBER: 11864029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Lapwing Fine Foods 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.


LAPWING FINE FOODS LIMITED (REGISTERED NUMBER: 11864029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors believe that this basis is appropriate because the company's parent company, The Lapwing Estate Limited, has stated that it will provide financial support for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 184,143 18,924 230,306
Additions 4,222 - 12,269
Disposals - - -
At 31 May 2024 188,365 18,924 242,575
DEPRECIATION
At 1 June 2023 93,141 10,641 119,454
Charge for year 37,119 3,784 46,719
Eliminated on disposal - - -
At 31 May 2024 130,260 14,425 166,173
NET BOOK VALUE
At 31 May 2024 58,105 4,499 76,402
At 31 May 2023 91,002 8,283 110,852

LAPWING FINE FOODS LIMITED (REGISTERED NUMBER: 11864029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. PROPERTY, PLANT AND EQUIPMENT - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 13,195 1,687 448,255
Additions 12,500 - 28,991
Disposals (6,495 ) - (6,495 )
At 31 May 2024 19,200 1,687 470,751
DEPRECIATION
At 1 June 2023 11,227 1,012 235,475
Charge for year 5,438 337 93,397
Eliminated on disposal (6,494 ) - (6,494 )
At 31 May 2024 10,171 1,349 322,378
NET BOOK VALUE
At 31 May 2024 9,029 338 148,373
At 31 May 2023 1,968 675 212,780

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,120 308
Amounts owed by group undertakings 82,304 153,878
Other debtors 3,905 5,632
87,329 159,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 6,927 6,094
Amounts owed to group undertakings 1,246,668 1,123,188
VAT 283 770
Accruals and deferred income 2,000 2,000
1,255,878 1,132,052

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mike Argyle BSc ACA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

9. OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the financial reporting date of £9,998 (2023 - £26,944)