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Registration number: 12025808

Pembrokeshire Lamb Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 10

Pembrokeshire Lamb Ltd

Company Information

Director

Mr S M Lewis

Registered office

Llys Deri Parc Pensarn Carmarthen SA31 2NF

Pembrokeshire Lamb Ltd

(Registration number: 12025808)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	6,285	13,123
Other financial assets	6	250	250
		6,535	13,373
Current assets
Stocks	7	-	3,555
Debtors	8	70	266
Cash at bank and in hand		9	104
		79	3,925
Creditors: Amounts falling due within one year	9	(64,793)	(59,921)
Net current liabilities		(64,714)	(55,996)
Total assets less current liabilities		(58,179)	(42,623)
Creditors: Amounts falling due after more than one year	9	(22,859)	(28,897)
Net liabilities		(81,038)	(71,520)
Capital and reserves
Called up share capital		100	100
Profit and loss account		(81,138)	(71,620)
Total equity		(81,038)	(71,520)

For the financial year ending 31 March 2026 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Pembrokeshire Lamb Ltd

(Registration number: 12025808)
Balance Sheet as at 31 March 2026

Approved and authorised by the director on 29 July 2026
 

......................................... Mr S M Lewis Director

Pembrokeshire Lamb Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Llys Deri
Parc Pensarn
Carmarthen
SA31 2NF

These financial statements were authorised for issue by the director on 29 July 2026.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 sales/value added tax, returns, rebates and discounts.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Pembrokeshire Lamb Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% reducing balance basis
Shipping container and conversion materials	10% reducing balance basis
Fixtures and fittings	20% reducing balance basis
Office equipment	20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Pembrokeshire Lamb Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

4	Loss before tax

Arrived at after charging/(crediting)

	2026 £	2025 £
Depreciation expense	1,059	1,908

Pembrokeshire Lamb Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

5	Tangible assets

	Properties under construction  £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 April 2025	10,962	2,248	3,108	2,580
Disposals	(6,700)	-	-	-
At 31 March 2026	4,262	2,248	3,108	2,580
Depreciation
At 1 April 2025	2,874	809	1,298	794
Charge for the year	232	288	181	358
Eliminated on disposal	(921)	-	-	-
At 31 March 2026	2,185	1,097	1,479	1,152
Carrying amount
At 31 March 2026	2,077	1,151	1,629	1,428
At 31 March 2025	8,088	1,439	1,810	1,786

	Total £
Cost or valuation
At 1 April 2025	18,898
Disposals	(6,700)
At 31 March 2026	12,198
Depreciation
At 1 April 2025	5,775
Charge for the year	1,059
Eliminated on disposal	(921)
At 31 March 2026	5,913
Carrying amount
At 31 March 2026	6,285
At 31 March 2025	13,123

Pembrokeshire Lamb Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

6	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 April 2025	250	250
At 31 March 2026	250	250
Impairment
Carrying amount
At 31 March 2026	250	250

7

Stocks

	2026 £	2025 £
Work in progress	-	3,555

8

Debtors

	2026 £	2025 £
Trade debtors	-	134
Other debtors	70	132
	70	266

Pembrokeshire Lamb Ltd

Notes to the Financial Statements for the Year Ended 31 March 2026

9

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Bank loans and overdrafts	11	5,802	25,419
Trade creditors		51	279
Amounts owed to group undertakings and undertakings in which the company has a participating interest	12	25,050	-
Directors' loan accounts	12	7,385	6,716
Other creditors		26,505	27,507
		64,793	59,921