Registered Number:05602252 |
For the year ended 28 February 2023
England and Wales
Unaudited Financial Statements
For the year ended 28 February 2023
P & H Eggs Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
P & H Eggs Limited
Abridged Statement of Financial Position
2022
2023
2
Property, plant and equipment |
373,852
322,640
373,852
322,640
114,383
140,141
3
Trade and other receivables |
323,418
658,158
505,159
Cash and cash equivalents |
663,572
1,461,871
942,960
Trade and other payables: amounts falling due within one |
year |
(409,266)
(558,548)
533,694
903,323
Net current assets
Total assets less current liabilities |
1,277,175
856,334
(75,702)
(44,968)
Provisions for liabilities |
1,201,473
Net assets
811,366
100
100
1,201,373
811,266
1,201,473
811,366
Shareholders' funds
For the year ended 28 February 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
All the members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year ended 28 February 2023 in accordance with Section 444 (2A) of the Companies Act 2006. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 28 February 2023
P & H Eggs Limited
Abridged Statement of Financial Position Continued
These financial statements were approved and authorised for issue by the Board on 24 November 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 28 February 2023
P & H Eggs Limited
Notes to the Financial Statements
Statutory Information
P & H Eggs Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 05602252. |
Station Yard Commercial Way
Oakengates
Telford
England
TF2 6SG
The presentation currency is £ sterling. |
This is the currency of the primary economic market in which the entity operates (its functional currency). All amounts |
in these financial statements have been rounded to the nearest pound unless otherwise stated. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finitie useful life and is amortised on a systematic basis over its expected life, which is 5 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequesntly when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Computer Equipment
Motor Vehicles
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
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For the year ended 28 February 2023
P & H Eggs Limited
Notes to the Financial Statements Continued
Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where apllicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Inventories held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories 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 and loss. |
Deferred tax
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Differences between accumulated depreciation and tax allowances for the cost of a fixed asset, if and when all conditions for retaining the tax allowances have been met, are not provided for. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. 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 for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, |
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that |
evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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For the year ended 28 February 2023
P & H Eggs Limited
Notes to the Financial Statements Continued
Property, plant |
and |
equipment |
Total
838,762
162,004
676,758
213,789
-
213,789
(83,080)
-
(83,080)
969,471
162,004
807,467
Provision for depreciation, |
amortisation and impairment |
516,122
162,004
354,118
104,936
-
104,936
Charge for year
(25,439)
-
(25,439)
595,619
162,004
433,615
373,852
-
373,852
322,640
-
322,640
2022
2023
140,141
114,383
4. Average number of persons employed |
During the year the average number of employees was 28 (2022 : 29)
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