Lingwood Food Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03295706

Lingwood Food Services Limited

Unaudited financial statements

30 December 2024

Lingwood Food Services Limited

Statement of financial position

30 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	5		91,957		152,746

Current assets

Stocks		345,137	309,887
Debtors	6	264,772	334,400
Cash at bank and in hand		1,149,303	623,082
		-----------	-----------
		1,759,212	1,267,369

Creditors: Amounts falling due within one year	7	( 901,331)		( 466,260)
		-----------		-----------
Net current assets			857,881		801,109
			---------		---------
Total assets less current liabilities			949,838		953,855

Creditors: Amounts falling due after more than one year	8		( 31,319)		( 56,761)

Provisions

Taxation including deferred tax	4,449	19,905
	---------	---------
Net assets	922,968	916,999
	---------	---------

Capital and reserves

Called up share capital	4,650	4,650
Profit and loss account	918,318	912,349
	---------	---------
Shareholders funds	922,968	916,999
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 December 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 year 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 .

Lingwood Food Services Limited

Statement of financial position (continued)

30 December 2024

These financial statements were approved by the board of directors and authorised for issue on 15 September 2025 , and are signed on behalf of the board by:

I W Hope

Director

Company registration number: 03295706

Lingwood Food Services Limited

Notes to the financial statements

Year ended 30 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7, 8 & 9 Tomo Business Park, Stowmarket, Suffolk, IP14 5EP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. 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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property improvements	-	33% straight line
Fixtures and fittings	-	33% straight line
Motor vehicles	-	33% straight line
Equipment	-	33% straight line

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 stock to its present location and condition.

Hire purchase contracts

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Defined contribution plans

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.

4. Employee numbers

The average number of employees during the year was 13 (2023: 12 ).

5. Tangible assets

	Property improve- ments	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 31 December 2023	8,754	12,323	314,923	59,661	395,661
Additions	–	–	–	814	814
Disposals	–	–	( 56,710)	–	( 56,710)
	------	-------	---------	-------	---------
At 30 December 2024	8,754	12,323	258,213	60,475	339,765
	------	-------	---------	-------	---------
Depreciation
At 31 December 2023	8,754	7,396	179,094	47,671	242,915
Charge for the year	–	2,521	43,980	7,015	53,516
Disposals	–	–	( 48,623)	–	( 48,623)
	------	-------	---------	-------	---------
At 30 December 2024	8,754	9,917	174,451	54,686	247,808
	------	-------	---------	-------	---------
Carrying amount
At 30 December 2024	–	2,406	83,762	5,789	91,957
	------	-------	---------	-------	---------
At 30 December 2023	–	4,927	135,829	11,990	152,746
	------	-------	---------	-------	---------

6. Debtors

	2024	2023
	£	£
Trade debtors	217,935	194,231
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10,000	50,000
Other debtors	36,837	90,169
	---------	---------
	264,772	334,400
	---------	---------

7. Creditors: Amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	125,678	140,279
Social security and other taxes	303,464	10,278
Other creditors	462,189	305,703
	---------	---------
	901,331	466,260
	---------	---------

Liabilities of £31,117 (2023: £28,422) in respect of hire purchase contracts are secured on the assets involved.

8. Creditors: Amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	6,669	16,669
Other creditors	24,650	40,092
	-------	-------
	31,319	56,761
	-------	-------

Liabilities of £24,650 (2023: £40,092) in respect of hire purchase contracts are secured on the assets involved.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	37,800	32,145
Later than 1 year and not later than 5 years	69,300	–
	---------	-------
	107,100	32,145
	---------	-------

10. Controlling party

The ultimate parent company is Lingwood Holdings 2011 Limited.