IRIS Accounts Production v23.3.0.418 10689557 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure106895572022-03-31106895572023-03-31106895572022-04-012023-03-31106895572021-03-31106895572021-04-012022-03-31106895572022-03-3110689557ns16:EnglandWales2022-04-012023-03-3110689557ns15:PoundSterling2022-04-012023-03-3110689557ns11:Director12022-04-012023-03-3110689557ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3110689557ns11:SmallEntities2022-04-012023-03-3110689557ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3110689557ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3110689557ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3110689557ns11:FullAccounts2022-04-012023-03-3110689557ns11:Director22022-04-012023-03-3110689557ns11:RegisteredOffice2022-04-012023-03-3110689557ns6:CurrentFinancialInstruments2023-03-3110689557ns6:CurrentFinancialInstruments2022-03-3110689557ns6:Non-currentFinancialInstruments2023-03-3110689557ns6:Non-currentFinancialInstruments2022-03-3110689557ns6:ShareCapital2023-03-3110689557ns6:ShareCapital2022-03-3110689557ns6:RetainedEarningsAccumulatedLosses2023-03-3110689557ns6:RetainedEarningsAccumulatedLosses2022-03-3110689557ns6:OwnedOrFreeholdAssetsns6:LandBuildings2022-04-012023-03-3110689557ns6:PlantMachinery2022-04-012023-03-3110689557ns6:LandBuildings2022-03-3110689557ns6:PlantMachinery2022-03-3110689557ns6:LandBuildings2022-04-012023-03-3110689557ns6:LandBuildings2023-03-3110689557ns6:PlantMachinery2023-03-3110689557ns6:LandBuildings2022-03-3110689557ns6:PlantMachinery2022-03-3110689557ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3110689557ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3110689557ns6:Secured2023-03-3110689557ns6:Secured2022-03-31
REGISTERED NUMBER: 10689557 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Maesglyn Egg Company Limited

Maesglyn Egg Company Limited (Registered number: 10689557)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Maesglyn Egg Company Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: N R V Evans
Mrs K L Evans





REGISTERED OFFICE: Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG





REGISTERED NUMBER: 10689557 (England and Wales)





ACCOUNTANTS: Caerwyn Jones
Chartered Accountants
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Maesglyn Egg Company Limited (Registered number: 10689557)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 623,893 615,260

CURRENT ASSETS
Inventories 89,531 66,097
Debtors 5 138,099 97,740
Cash at bank 49,585 132,077
277,215 295,914
CREDITORS
Amounts falling due within one year 6 302,025 325,900
NET CURRENT LIABILITIES (24,810 ) (29,986 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

599,083

585,274

CREDITORS
Amounts falling due after more than
one year

7

(275,186

)

(292,718

)

PROVISIONS FOR LIABILITIES (77,069 ) (74,126 )
NET ASSETS 246,828 218,430

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 246,728 218,330
246,828 218,430

Maesglyn Egg Company Limited (Registered number: 10689557)

Statement of Financial Position - continued
31 March 2023


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

The members have not required the company to obtain an audit of its financial statements for the year 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.

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 8 November 2023 and were signed on its behalf by:





N R V Evans - Director


Maesglyn Egg Company Limited (Registered number: 10689557)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Maesglyn Egg Company 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.

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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 10% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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 year 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.

Maesglyn Egg Company Limited (Registered number: 10689557)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 April 2022 232,481 597,027 829,508
Additions - 54,283 54,283
At 31 March 2023 232,481 651,310 883,791
DEPRECIATION
At 1 April 2022 15,210 199,038 214,248
Charge for year 4,650 41,000 45,650
At 31 March 2023 19,860 240,038 259,898
NET BOOK VALUE
At 31 March 2023 212,621 411,272 623,893
At 31 March 2022 217,271 397,989 615,260

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 136,126 93,516
Other debtors 1,973 4,224
138,099 97,740

Maesglyn Egg Company Limited (Registered number: 10689557)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 36,000 39,877
Hire purchase contracts 11,500 780
Trade creditors 160,909 92,857
Taxation and social security 7,327 15,581
Other creditors 86,289 176,805
302,025 325,900

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 263,686 292,718
Hire purchase contracts 11,500 -
275,186 292,718

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 119,686 133,211

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 299,686 332,595

The bank loan is secured on the property.

9. FINANCIAL INSTRUMENTS

The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

Maesglyn Egg Company Limited (Registered number: 10689557)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £14,000 (2022 - £4,000) were paid to the directors .

Included in creditors falling due within one year are amounts totalling £73,556 (2022 - £162,357) due to the directors of the company, these amounts are repayable on demand. During the year no interest was paid on the balance.