REGISTERED NUMBER: 09160728 (England and Wales)

Financial Statements for the Year Ended 30 November 2025

for

Lemon Plaice (Axminster) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A D Tarratt

E Tarratt

REGISTERED OFFICE:

The Old Barn

Castle Hill

Axminster

Devon

EX13 5RL

REGISTERED NUMBER:

09160728 (England and Wales)

ACCOUNTANTS:

Bizz Solutions 4U Limited

5 Greenfylde Close

Ilminster

Somerset

TA19 9FJ

FIXED ASSETS

Intangible assets

4

40,785

50,981

Tangible assets

5

13,241

16,368

54,026

67,349

CURRENT ASSETS

Stocks

3,204

4,300

Debtors

6

9,260

7,150

Cash at bank and in hand

1,035

566

13,499

12,016

CREDITORS

Amounts falling due within one year

7

279,977

246,275

NET CURRENT LIABILITIES

(266,478

)

(234,259

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(212,452

)

(166,910

)

CREDITORS

Amounts falling due after more than one year

8

11,211

28,556

NET LIABILITIES

(223,663

)

(195,466

)

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

(223,666

)

(195,469

)

(223,663

)

(195,466

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 29 August 2026 and were signed on its behalf by:

Mrs A D Tarratt - Director

1.	STATUTORY INFORMATION

Lemon Plaice (Axminster) 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.

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.

Turnover

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

Goodwill

The economic life of the goodwill acquired on 1st December 2015 was reviewed and extended to 30 November 2029 following the director's review at the end of November 2020.The annual provision was reassessed with a remaining life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

135,000

AMORTISATION

At 1 December 2024

84,019

Amortisation for year

10,196

At 30 November 2025

94,215

NET BOOK VALUE

At 30 November 2025

40,785

At 30 November 2024

50,981

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 December 2024

7,338

12,318

24,843

1,015

45,514

Additions

-

166

-

-

166

At 30 November 2025

7,338

12,484

24,843

1,015

45,680

DEPRECIATION

At 1 December 2024

3,693

8,845

16,145

463

29,146

Charge for year

547

868

1,740

138

3,293

At 30 November 2025

4,240

9,713

17,885

601

32,439

NET BOOK VALUE

At 30 November 2025

3,098

2,771

6,958

414

13,241

At 30 November 2024

3,645

3,473

8,698

552

16,368

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade Debtors

3,480

5,582

Directors' current accounts

5,255

1,208

Prepayments

525

360

9,260

7,150

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts

31,310

34,859

Trade creditors

19,472

11,327

Funding Circle loan

16,292

27,426

Flexipay Loan

10,347

-

Tax

6,125

4,351

Social security and other taxes

30,715

38,160

Nest pensions

187

408

VAT creditor

151,883

112,610

Accruals

13,646

17,134

279,977

246,275

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans - 1-2 years

-

3,013

Bank loans - 2-5 years

-

3,145

Iwoca Loan

5,105

-

Funding Circle loan

6,106

22,398

11,211

28,556

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.25

30.11.24

£

£

Funding Circle

22,398

49,824

10.	GOING CONCERN

The total book value of the liabilities as at the balance sheet date exceeds the total book value of the assets by £223,663.Turnover and trading profits for the year were curtailed by issues of illness. In the directors' opinion,matters are being resolved that will enable the Company to improve its future trading performance.Therefore,the directors consider that the Company's business remains a going concern and that these financial statements have been duly prepared on a going concern basis.