21 June 2023 v2025.15.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP149506162023-06-212024-06-30149506162024-06-3014950616core:WithinOneYear2024-06-3014950616core:ShareCapital2024-06-3014950616core:RetainedEarningsAccumulatedLosses2024-06-3014950616bus:Director12023-06-212024-06-3014950616bus:RegisteredOffice2023-06-212024-06-3014950616core:LandBuildings2023-06-212024-06-3014950616core:FurnitureFittings2023-06-212024-06-3014950616core:PlantMachinery2023-06-212024-06-3014950616core:LandBuildings2024-06-3014950616core:PlantMachinery2024-06-3014950616core:BetweenOneFiveYears2024-06-3014950616core:MoreThanFiveYears2024-06-301495061612023-06-212024-06-3014950616countries:EnglandWales2023-06-212024-06-3014950616bus:AuditExemptWithAccountantsReport2023-06-212024-06-3014950616bus:PrivateLimitedCompanyLtd2023-06-212024-06-3014950616bus:SmallEntities2023-06-212024-06-3014950616bus:FullAccounts2023-06-212024-06-30
Company registration number:
14950616
Lime Farm Limited
Unaudited Filleted Financial Statements for the period ended
30 June 2024
Lime Farm Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Lime Farm Limited
Period ended
30 June 2024
As described on the statement of financial position, the Board of Directors of
Lime Farm Limited
are responsible for the preparation of the
financial statements
for the period ended
30 June 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Gina Bartlett t/a Bartlett Accounting Services
2 Wigmore Road
Tadley
RG26 4HH
United Kingdom
Date:
18 March 2025
Lime Farm Limited
Statement of Financial Position
30 June 2024
30 Jun 2024
Note£
Fixed assets  
Tangible assets 5
16,486
 
Current assets  
Stocks
43,038
 
Debtors 6
43,718
 
Cash at bank and in hand
1,380
 
88,136
 
Creditors: amounts falling due within one year 7
(136,759
)
Net current liabilities
(48,623
)
Total assets less current liabilities (32,137 )
Capital and reserves  
Called up share capital
1
 
Profit and loss account
(32,138
)
Shareholders deficit
(32,137
)
For the period ending
30 June 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
18 March 2025
, and are signed on behalf of the board by:
Jane Black
Director
Company registration number:
14950616
Lime Farm Limited
Notes to the Financial Statements
Period ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
The Cobham Bookshop
,
12A Anyards Road
,
Cobham
,
KT11 2JZ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Going concern

With the continued support of the directors the company are able to continue to trade for the foreseeable future.

Turnover

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 10 years
Fixtures and fittings
Straight line over 3 years

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the period was
4
.

5 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
21 June 2023
-   -   -  
Additions
17,360
 
1,293
 
18,653
 
At
30 June 2024
17,360
 
1,293
 
18,653
 
Depreciation      
At
21 June 2023
-   -   -  
Charge
1,736
 
431
 
2,167
 
At
30 June 2024
1,736
 
431
 
2,167
 
Carrying amount      
At
30 June 2024
15,624
 
862
 
16,486
 

6 Debtors

30 Jun 2024
£
Other debtors
43,718
 

7 Creditors: amounts falling due within one year

30 Jun 2024
£
Trade creditors
22,447
 
Taxation and social security
1,519
 
Other creditors
112,793
 
136,759
 

8 Operating leases

The company as lessee  
Period from 21 Jun 2023 to 30 Jun 2024
£
Not later than 1 year
47,000
 
Later than 1 year and not later than 5 years
188,000
 
Later than 5 years
188,000
 
423,000