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Registration number: 00785780

Moss Rose Piggeries Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Moss Rose Piggeries Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Moss Rose Piggeries Limited

Company Information

Directors

Mrs Daphne Patricia Baguley

Mr Wayne Joseph Baguley

Mr Raymond Henry Baguley

Company secretary

Mrs Daphne Patricia Baguley

Registered office

Moss Rose
Dickies Lane
Marton
Blackpool
Lancashire
FY4 5LG

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Moss Rose Piggeries Limited
for the Year Ended 31 January 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Moss Rose Piggeries Limited for the year ended 31 January 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Moss Rose Piggeries Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Moss Rose Piggeries Limited and state those matters that we have agreed to state to the Board of Directors of Moss Rose Piggeries Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Moss Rose Piggeries Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Moss Rose Piggeries Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Moss Rose Piggeries Limited. You consider that Moss Rose Piggeries Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Moss Rose Piggeries Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

24 October 2023

 

Moss Rose Piggeries Limited

(Registration number: 00785780)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

498,346

394,001

Other financial assets

4

133,049

141,109

 

631,395

535,110

Current assets

 

Stocks

5

-

108,192

Debtors

6

10,177

56,824

Cash at bank and in hand

 

1,330,023

1,307,591

 

1,340,200

1,472,607

Creditors: Amounts falling due within one year

7

(93,518)

(119,873)

Net current assets

 

1,246,682

1,352,734

Total assets less current liabilities

 

1,878,077

1,887,844

Creditors: Amounts falling due after more than one year

7

(341)

(378)

Provisions for liabilities

(10,074)

(11,568)

Net assets

 

1,867,662

1,875,898

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

1,866,662

1,874,898

Shareholders' funds

 

1,867,662

1,875,898

For the financial year ending 31 January 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Moss Rose Piggeries Limited

(Registration number: 00785780)
Balance Sheet as at 31 January 2023

Approved and authorised by the Board on 24 October 2023 and signed on its behalf by:
 

.........................................
Mr Wayne Joseph Baguley
Director

 

Moss Rose Piggeries Limited

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

1

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.

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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

 

Moss Rose Piggeries Limited

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

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

Freehold property

2% SL to 10% RB

Plant & Machinery

10% RB

Motor Vehicles

25% RB

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.

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.

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.

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.

 

Moss Rose Piggeries Limited

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 6).

3

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

503,260

92,305

327,501

923,066

Additions

118,166

-

-

118,166

At 31 January 2023

621,426

92,305

327,501

1,041,232

Depreciation

At 1 February 2022

168,391

91,059

269,615

529,065

Charge for the year

7,720

312

5,789

13,821

At 31 January 2023

176,111

91,371

275,404

542,886

Carrying amount

At 31 January 2023

445,315

934

52,097

498,346

At 31 January 2022

334,869

1,246

57,886

394,001

Included within the net book value of land and buildings above is £445,315 (2022 - £334,869) in respect of freehold land and buildings.
 

 

Moss Rose Piggeries Limited

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

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 February 2022

141,109

141,109

Revaluations

(10,877)

(10,877)

Additions

3,932

3,932

Disposals

(1,115)

(1,115)

At 31 January 2023

133,049

133,049

Impairment

Carrying amount

At 31 January 2023

133,049

133,049

5

Stocks

2023
£

2022
£

Other inventories

-

108,192

 

Moss Rose Piggeries Limited

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

6

Debtors

Current

2023
£

2022
£

Trade debtors

10,120

7,186

Prepayments

-

1,106

Other debtors

57

48,532

 

10,177

56,824

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,296

9,994

Taxation and social security

 

658

1,753

Other creditors

 

91,564

108,126

 

93,518

119,873

Due after one year

 

Deferred income

 

341

378

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Deferred income

341

378

 

Moss Rose Piggeries Limited

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

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000