Lindames Poultry Limited 03495572 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is the farming of chickens for egg production. Digita Accounts Production Advanced 6.30.9574.0 true true 03495572 2022-07-01 2023-06-30 03495572 2023-06-30 03495572 bus:OrdinaryShareClass1 2023-06-30 03495572 bus:OrdinaryShareClass2 2023-06-30 03495572 bus:OrdinaryShareClass3 2023-06-30 03495572 core:CurrentFinancialInstruments 2023-06-30 03495572 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 03495572 core:Non-currentFinancialInstruments 2023-06-30 03495572 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 03495572 core:FurnitureFittingsToolsEquipment 2023-06-30 03495572 core:LandBuildings 2023-06-30 03495572 core:MotorVehicles 2023-06-30 03495572 bus:SmallEntities 2022-07-01 2023-06-30 03495572 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 03495572 bus:FullAccounts 2022-07-01 2023-06-30 03495572 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 03495572 bus:RegisteredOffice 2022-07-01 2023-06-30 03495572 bus:CompanySecretaryDirector1 2022-07-01 2023-06-30 03495572 bus:Director2 2022-07-01 2023-06-30 03495572 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 03495572 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 03495572 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 03495572 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03495572 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 03495572 core:LandBuildings 2022-07-01 2023-06-30 03495572 core:MotorCars 2022-07-01 2023-06-30 03495572 core:MotorVehicles 2022-07-01 2023-06-30 03495572 core:OfficeEquipment 2022-07-01 2023-06-30 03495572 countries:EnglandWales 2022-07-01 2023-06-30 03495572 2022-06-30 03495572 core:CostValuation 2022-06-30 03495572 core:FurnitureFittingsToolsEquipment 2022-06-30 03495572 core:LandBuildings 2022-06-30 03495572 core:MotorVehicles 2022-06-30 03495572 2021-07-01 2022-06-30 03495572 2022-06-30 03495572 bus:OrdinaryShareClass1 2022-06-30 03495572 bus:OrdinaryShareClass2 2022-06-30 03495572 bus:OrdinaryShareClass3 2022-06-30 03495572 core:CurrentFinancialInstruments 2022-06-30 03495572 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 03495572 core:Non-currentFinancialInstruments 2022-06-30 03495572 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 03495572 core:FurnitureFittingsToolsEquipment 2022-06-30 03495572 core:LandBuildings 2022-06-30 03495572 core:MotorVehicles 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03495572

Lindames Poultry Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Lindames Poultry Limited

Contents

Company Information

1

Statement of financial position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Lindames Poultry Limited

Company Information

Directors

Mr Alistair James Walton

Mrs Lorraine Carole Anne Walton

Company secretary

Mr Alistair James Walton

Registered office

19 King Street
King's Lynn
Norfolk
PE30 1HB

Accountants

Hayhow & Co
Chartered Certified Accountants & Business Advisers
19 King Street
King's Lynn
Norfolk
PE30 1HB

 

Lindames Poultry Limited

(Registration number: 03495572)
Statement of financial position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

60,673

71,025

Investments

5

5

5

 

60,678

71,030

Current assets

 

Stocks

6

34,155

11,387

Debtors

7

36,317

33,769

Cash at bank and in hand

 

15,204

24,186

 

85,676

69,342

Creditors: Amounts falling due within one year

8

(120,561)

(143,075)

Net current liabilities

 

(34,885)

(73,733)

Total assets less current liabilities

 

25,793

(2,703)

Creditors: Amounts falling due after more than one year

8

(26,553)

(31,053)

Provisions for liabilities

1,135

-

Net assets/(liabilities)

 

375

(33,756)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

275

(33,856)

Shareholders' funds/(deficit)

 

375

(33,756)

For the financial year ending 30 June 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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Statement of comprehensive income.

Approved and authorised by the Board on 10 November 2023 and signed on its behalf by:
 

 

Lindames Poultry Limited

(Registration number: 03495572)
Statement of financial position as at 30 June 2023

.........................................
Mr Alistair James Walton
Company secretary and director

 

Lindames Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

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

The address of its registered office is:
19 King Street
King's Lynn
Norfolk
PE30 1HB

These financial statements were authorised for issue by the Board on 10 November 2023.

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 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.

 

Lindames Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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 statement of financial position 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.

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

4% straight line

Fittings, fixtures and equipment

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit and loss.

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.

 

Lindames Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

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 statement of comprehensive income 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.

3

Staff numbers

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

 

Lindames Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

168,152

142,724

67,756

378,632

At 30 June 2023

168,152

142,724

67,756

378,632

Depreciation

At 1 July 2022

111,649

134,187

61,771

307,607

Charge for the year

6,724

2,131

1,497

10,352

At 30 June 2023

118,373

136,318

63,268

317,959

Carrying amount

At 30 June 2023

49,779

6,406

4,488

60,673

At 30 June 2022

56,503

8,537

5,985

71,025

Included within the net book value of land and buildings above is £49,779 (2022 - £56,503) in respect of freehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in joint ventures

5

5

Joint ventures

£

Cost

At 1 July 2022

5

Provision

Carrying amount

At 30 June 2023

5

At 30 June 2022

5

6

Stocks

2023
£

2022
£

Other inventories

34,155

11,387

 

Lindames Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Debtors

Current

2023
£

2022
£

Trade debtors

23,087

21,941

Prepayments

2,390

1,703

Other debtors

10,840

10,125

 

36,317

33,769

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

7,235

19,910

trade creditors

 

43,319

51,068

Accruals and deferred income

 

4,624

4,527

Other creditors

 

59,392

67,570

Tax liability

 

5,991

-

 

120,561

143,075

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

26,553

31,053

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A Shares of £1 each

36

36

36

36

Ordinary B Shares of £1 each

34

34

34

34

Ordinary C Shares of £1 each

30

30

30

30

 

100

100

100

100

Each share is entitled to one vote in any circumstances and each share is also entitled pari passu to dividend payments or any other distribution, including a distribution arising from a winding up of the company.

 

Lindames Poultry Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

26,553

31,053

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,500

4,500

Bank overdrafts

2,735

15,410

7,235

19,910