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REGISTERED NUMBER: 08468354 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30th June 2023

for

Maxwell Poultry Ltd

Maxwell Poultry Ltd (Registered number: 08468354)

Contents of the Financial Statements
for the Year Ended 30th June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Maxwell Poultry Ltd

Company Information
for the Year Ended 30th June 2023







DIRECTORS: Mr L Maxwell
Mrs JL Maxwell





SECRETARY: Mrs JL Maxwell





REGISTERED OFFICE: Seeds Farm
Brock Road
Great Eccleston
Preston
Lancashire
PR3 0XE





REGISTERED NUMBER: 08468354 (England and Wales)





ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

Maxwell Poultry Ltd (Registered number: 08468354)

Balance Sheet
30th June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 910,366 821,244
910,366 821,244

CURRENT ASSETS
Stocks 125,668 22,344
Debtors 6 53,510 286,294
Cash at bank 495,899 209,942
675,077 518,580
CREDITORS
Amounts falling due within one year 7 454,521 247,162
NET CURRENT ASSETS 220,556 271,418
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,130,922

1,092,662

CREDITORS
Amounts falling due after more than one
year

8

(477,778

)

(550,009

)

PROVISIONS FOR LIABILITIES (29,965 ) (5,841 )
NET ASSETS 623,179 536,812

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 623,079 536,712
SHAREHOLDERS' FUNDS 623,179 536,812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Maxwell Poultry Ltd (Registered number: 08468354)

Balance Sheet - continued
30th June 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 10th November 2023 and were signed on its behalf by:




Mr L Maxwell - Director



Mrs JL Maxwell - Director


Maxwell Poultry Ltd (Registered number: 08468354)

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


1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Maxwell Poultry Ltd (Registered number: 08468354)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 200,000
AMORTISATION
At 1st July 2022
and 30th June 2023 200,000
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st July 2022 790,502 80,169 870,671
Additions - 100,056 100,056
Disposals - (8,070 ) (8,070 )
At 30th June 2023 790,502 172,155 962,657
DEPRECIATION
At 1st July 2022 - 49,427 49,427
Charge for year - 6,490 6,490
Eliminated on disposal - (3,626 ) (3,626 )
At 30th June 2023 - 52,291 52,291
NET BOOK VALUE
At 30th June 2023 790,502 119,864 910,366
At 30th June 2022 790,502 30,742 821,244

Included in cost of land and buildings is freehold land of £ 790,502 (2022 - £ 790,502 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 278,059
Other debtors 53,510 8,235
53,510 286,294

Maxwell Poultry Ltd (Registered number: 08468354)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 62,454 62,454
Trade creditors 214,845 90,559
Taxation and social security 23,084 40,093
Other creditors 154,138 54,056
454,521 247,162

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 477,778 550,009

Amounts falling due in more than five years:

Repayable by instalments
Bank loan >5 years 180,921 203,175
Bank loan >5 years 43,092 93,069
224,013 296,244

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank Loan 305,939 328,193
Bank Loan 234,292 284,269
540,231 612,462

10. RESERVES
Retained
earnings
£   

At 1st July 2022 536,712
Profit for the year 157,867
Dividends (71,500 )
At 30th June 2023 623,079

11. RELATED PARTY DISCLOSURES

At 30 June 2023 the company owed £101,938 to its directors (2022 £32,844) No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.

The ultimate controlling party is Mr and Mrs L Maxwell.