REGISTERED NUMBER: |
S & L HATCHERIES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
2 JANUARY 2022 TO 31 MARCH 2023 |
REGISTERED NUMBER: |
S & L HATCHERIES LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
2 JANUARY 2022 TO 31 MARCH 2023 |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2022 TO 31 MARCH 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 8 |
S & L HATCHERIES LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 2 JANUARY 2022 TO 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
26 Park Road |
Melton Mowbray |
Leicestershire |
LE13 1TT |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Inventories |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2022 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
S & L Hatcheries Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
During the period, the company extended it's year end from 1 January 2023 to 31 March 2023 These financial statements therefore cover a period of 15 months. This means the comparatives presented within this set of financial statements are not entirely comparable. |
The change in the reporting period is to align the company's financial reporting with its operational and business needs. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Property, plant and equipment |
Plant and machinery etc | - |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Inventories |
Inventories are valued at the lower of cost and fair value less costs to complete and sell, after making due allowance for obsolete and slow moving items. |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 MARCH 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
At 2 January 2022 |
Additions |
Disposals | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 2 January 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 1 January 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 2 January 2022 |
Additions |
Share of profit/(loss) | 25,028 |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 1 January 2022 |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 MARCH 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation |
Accrued expenses |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
The bank overdraft is secured by way of a charge over the company's interests in the partnership assets of Shoby Poultry. |
9. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2022 TO 31 MARCH 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 March 2023 and the year ended 1 January 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
The directors' loan is interest free and has been repaid since the year end. |