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REGISTERED NUMBER: 06989621 (England and Wales)















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: J D Chandler
Mrs J Chandler





REGISTERED OFFICE: Lodge Farm
Six Hills Lane
Old Dalby
Melton Mowbray
Leicestershire
LE14 3NB





REGISTERED NUMBER: 06989621 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Holdings Limited
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 6,531 5,633
Investments 5 1,259,562 1,034,534
1,266,093 1,040,167

CURRENT ASSETS
Inventories 127,985 85,709
Debtors 6 2,400,829 2,402,405
2,528,814 2,488,114
CREDITORS
Amounts falling due within one year 7 569,773 587,772
NET CURRENT ASSETS 1,959,041 1,900,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,225,134

2,940,509

PROVISIONS FOR LIABILITIES 1,633 1,408
NET ASSETS 3,223,501 2,939,101

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3,223,401 2,939,001
SHAREHOLDERS' FUNDS 3,223,501 2,939,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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.

S & L HATCHERIES LIMITED (REGISTERED NUMBER: 06989621)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by:





J D Chandler - Director


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 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.

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
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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 12.5% on reducing balance and 3.33% on cost

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 2 (2022 - 2 ) .

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 53,154
Additions 2,260
Disposals (5,500 )
At 31 March 2023 49,914
DEPRECIATION
At 2 January 2022 47,521
Charge for period 1,168
Eliminated on disposal (5,306 )
At 31 March 2023 43,383
NET BOOK VALUE
At 31 March 2023 6,531
At 1 January 2022 5,633

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 2 January 2022 1,034,534
Additions 200,000
Share of profit/(loss) 25,028
At 31 March 2023 1,259,562
NET BOOK VALUE
At 31 March 2023 1,259,562
At 1 January 2022 1,034,534

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 2,376,111 2,393,965
Other debtors 23,105 7,099
Directors' current accounts 1,613 1,341
2,400,829 2,402,405

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 35,105 68,518
Trade creditors 227,624 289,267
Taxation 262,633 219,920
Accrued expenses 44,411 10,067
569,773 587,772

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 35,105 68,518

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: £    £   
100 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
£    £   
J D Chandler
Balance outstanding at start of period 1,341 -
Amounts advanced 8,065 1,341
Amounts repaid (7,793 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 1,613 1,341

The directors' loan is interest free and has been repaid since the year end.