Company registration number 08998810 (England and Wales)
E & S MAYMAN LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
E & S MAYMAN LIMITED
COMPANY INFORMATION
Directors
E P Mayman
Mrs S Mayman
Company number
08998810
Registered office
Lion Buildings
8 Market Place
Uttoxeter
Staffordshire
ST14 8HP
Accountants
HSKSG
Lion Buildings
8 Market Place
Uttoxeter
Staffordshire
ST14 8HP
Business address
Moors Farm
Abbots Bromley
Rugeley
Staffordshire
WS15 3AN
E & S MAYMAN LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Statement of financial position
3 - 4
Notes to the financial statements
5 - 8
E & S MAYMAN LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2023
- 1 -

The directors present their annual report and financial statements for the year ended 30 April 2023.

Principal activities

The principal activity of the company continued to be that of poultry farming.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

E P Mayman
Mrs S Mayman
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
E P Mayman
Mrs S Mayman
Director
Director
15 November 2023
E & S MAYMAN LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF E & S MAYMAN LIMITED FOR THE YEAR ENDED 30 APRIL 2023
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E & S Mayman Limited for the year ended 30 April 2023 which comprise, the statement of financial position and the related notes 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 https://www.icaew.com/regulation.

This report is made solely to the board of directors of E & S Mayman Limited, as a body, in accordance with the terms of our engagement letter dated 20 May 2020. Our work has been undertaken solely to prepare for your approval the financial statements of E & S Mayman Limited and state those matters that we have agreed to state to the board of directors of E & S Mayman 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 E & S Mayman Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that E & S Mayman Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of E & S Mayman Limited. You consider that E & S Mayman 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 financial statements of E & S Mayman 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 financial statements.

HSKSG
15 November 2023
Chartered Accountants
Lion Buildings
8 Market Place
Uttoxeter
Staffordshire
ST14 8HP
E & S MAYMAN LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2023
30 April 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,481,086
2,465,891
Investment property
4
4,274,537
4,274,537
6,755,623
6,740,428
Current assets
Stocks
10,181
157,668
Debtors
343,465
770,150
Cash at bank and in hand
167,885
98,490
521,531
1,026,308
Creditors: amounts falling due within one year
(903,380)
(1,369,114)
Net current liabilities
(381,849)
(342,806)
Total assets less current liabilities
6,373,774
6,397,622
Creditors: amounts falling due after more than one year
(4,420,298)
(4,545,358)
Provisions for liabilities
(204,177)
(315,896)
Net assets
1,749,299
1,536,368
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
1,749,297
1,536,366
Total equity
1,749,299
1,536,368

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

E & S MAYMAN LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2023
30 April 2023
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 15 November 2023 and are signed on its behalf by:
E P Mayman
Mrs S Mayman
Director
Director
Company registration number 08998810 (England and Wales)
E & S MAYMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
1
Accounting policies
Company information

E & S Mayman Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lion Buildings, 8 Market Place, Uttoxeter, Staffordshire, ST14 8HP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% straight line (no depreciation on land)
Improvements to property
2% straight line
Plant and equipment
10% reducing balance
Computers
33% straight line
Motor vehicles
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

E & S MAYMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 6 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

E & S MAYMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 7 -
1.10
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
9
8
3
Tangible fixed assets
Total
£
Cost
At 1 May 2022
3,173,805
Additions
315,458
Disposals
(169,857)
At 30 April 2023
3,319,406
Depreciation and impairment
At 1 May 2022
707,914
Depreciation charged in the year
135,184
Eliminated in respect of disposals
(4,778)
At 30 April 2023
838,320
Carrying amount
At 30 April 2023
2,481,086
At 30 April 2022
2,465,891
4
Investment property
2023
£
Fair value
At 1 May 2022 and 30 April 2023
4,275,981
E & S MAYMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
4
Investment property
(Continued)
- 8 -

Investment property comprises both commercial and residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Loans and overdrafts
2023
2022
£
£
Bank loans
4,784,962
4,928,708
Payable within one year
393,779
383,350
Payable after one year
4,391,183
4,545,358

The long term debts are secured against the specific land and properties to which they relate.

6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
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