The Lemon Street Market Limited

Company Information

Director

Mr S Hendra

Company secretary

Mrs V J Hendra

Registered office

8/9 Lemon Street Truro Cornwall TR1 2LQ

Solicitors

Carlyon & Son 78 Lemon Street Truro Cornwall TR1 2PZ

Bankers

Barclays Bank plc Lemon Street Truro Cornwall TR1 2YY

Accountants

Francis Clark LLP Chartered AccountantsLowin House Tregolls Road Truro Cornwall TR1 2NA

The Lemon Street Market Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Current assets
Debtors	3	-	15,408
Creditors: Amounts falling due within one year	4	-	(27,809)
Net liabilities		-	(12,401)
Capital and reserves
Called up share capital	5	1,000	1,000
Profit and loss account		(1,000)	(13,401)
Shareholders' deficit		-	(12,401)

The Lemon Street Market Limited

Balance Sheet

31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 September 2025
 

......................................... Mr S Hendra Director

Company Registration Number: 05707292

The Lemon Street Market Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

The address of its registered office is:
8/9 Lemon Street
Truro
Cornwall
TR1 2LQ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

The directors acknowledge that the company has a negative profit and loss reserve account. The parent company will continue to financially support the company for at least 12 months from the date of approval of the financial statements. The directors consider the going concern basis to be appropriate.

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

The Lemon Street Market Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Investment property

Investment property is carried at fair value, as determined annually by the director. The valuation is based on observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the profit and loss account.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

The Lemon Street Market Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

3

Debtors

	2024 £	2023 £
Other debtors	-	15,408
	-	15,408

4

Creditors

Creditors: amounts falling due within one year

	2024  £	2023  £
Due within one year
Amounts due to group undertakings	-	18
Corporation tax	-	27,791
	-	27,809

5	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

6	Parent and ultimate parent undertaking

The company's immediate and ultimate parent company is G J Hendra Limited, incorporated in England & Wales.