Registration number: 10507978

Ashwood Poultry Limited

Contents

Company Information	1
Directors' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 9

Ashwood Poultry Limited

Company Information

Directors

Mr Robert George Herrod Mr James Gerald Herrod

Company secretary

Welch Company Services Limited

Registered office

2 Drake House Cook Way Taunton Somerset TA2 6BJ

Accountants

Welch & Co (South West) Limited 2 Drake House Cook Way Taunton Somerset TA2 6BJ

Ashwood Poultry Limited

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Robert George Herrod

Mr James Gerald Herrod

Principal activity

The principal activity of the company is Poultry

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 3 October 2023 and signed on its behalf by:
 

......................................... Mr Robert George Herrod Director

Ashwood Poultry Limited

(Registration number: 10507978)
Balance Sheet as at 31 March 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	5	588,809	589,793
Current assets
Debtors	6	4,690	(6,087)
Cash at bank and in hand		3,759	4,870
		8,449	(1,217)
Creditors: Amounts falling due within one year	7	(441,200)	(444,986)
Net current liabilities		(432,751)	(446,203)
Net assets		156,058	143,590
Capital and reserves
Called up share capital	8	400	400
Retained earnings		155,658	143,190
Shareholders' funds		156,058	143,590

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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.

Approved and authorised by the Board on 3 October 2023 and signed on its behalf by:
 

......................................... Mr Robert George Herrod Director

Ashwood Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1	General information

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

The address of its registered office is:
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ
England

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.

Tax

The tax expense for the period comprises current 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 income 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.

Ashwood Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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.

Trade 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.

Trade 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Ashwood Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 3).

4	Profit before tax

Arrived at after charging/(crediting)

	2023 £	2022 £
Depreciation expense	984	1,313

5	Tangible assets

	Land and buildings £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2022	585,856	5,250	591,106
At 31 March 2023	585,856	5,250	591,106
Depreciation
At 1 April 2022	-	1,313	1,313
Charge for the year	-	984	984
At 31 March 2023	-	2,297	2,297
Carrying amount
At 31 March 2023	585,856	2,953	588,809
At 31 March 2022	585,856	3,937	589,793

Included within the net book value of land and buildings above is £585,856 (2022 - £585,856) in respect of freehold land and buildings.
 

6

Debtors

Current	2023 £	2022 £
Trade debtors	-	(11,150)
Other debtors	4,690	5,063
	4,690	(6,087)

Ashwood Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

Creditors: amounts falling due within one year

	Note	2023 £	2022 £
Due within one year
Bank loans and overdrafts	9	406,946	397,895
Trade creditors		1,503	1,419
Taxation and social security		318	713
Accruals and deferred income		1,337	1,302
Other creditors		31,096	43,657
		441,200	444,986

8	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100
Ordinary B of £1 each	100	100	100	100
Ordinary C of £1 each	100	100	100	100
Ordinary D of £1 each	100	100	100	100
	400	400	400	400

9	Loans and borrowings

	2023 £	2022 £
Current loans and borrowings
Other borrowings	406,946	397,895

10

Dividends

Interim dividends paid

		2023 £		2022 £
Interim dividend of £Nil per each Ordinary B		-		-
Interim dividend of £95.00 (2022 - £20.00) per each Ordinary C		9,500		2,000
Interim dividend of £Nil per each Ordinary D		-		-
		9,500		2,000

Ashwood Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

11	Related party transactions

Ashwood Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

	2023 £	2022 £
Remuneration	20,000	20,000