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REGISTERED NUMBER: 12445626 (England and Wales)






















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Little Plowlands Pigs Limited

Little Plowlands Pigs Limited (Registered number: 12445626)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Little Plowlands Pigs Limited

Company Information
for the year ended 31 May 2023







DIRECTORS: M.J. Rowbottom
S.E. Rowbottom





REGISTERED OFFICE: Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA





REGISTERED NUMBER: 12445626 (England and Wales)





ACCOUNTANTS: Smailes Goldie Limited
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Little Plowlands Pigs Limited (Registered number: 12445626)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,050 164,528

CURRENT ASSETS
Stocks - 451,480
Debtors 5 51,040 19,225
Cash at bank 45,684 26,268
96,724 496,973
CREDITORS
Amounts falling due within one year 6 70,921 356,551
NET CURRENT ASSETS 25,803 140,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,853

304,950

CREDITORS
Amounts falling due after more than one
year

7

347,655

372,269
NET LIABILITIES (168,802 ) (67,319 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (168,804 ) (67,321 )
(168,802 ) (67,319 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Little Plowlands Pigs Limited (Registered number: 12445626)

Balance Sheet - continued
31 May 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2024 and were signed on its behalf by:





M.J. Rowbottom - Director


Little Plowlands Pigs Limited (Registered number: 12445626)

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

1. STATUTORY INFORMATION

Little Plowlands Pigs 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
The financial statements have been prepared in accordance with applicable accounting standards including Section 1A of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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

Fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation
Depreciation of fixed assets is charged by annual instalments commencing with the year of acquisition at rates estimated to write off their cost less any residual value over the expected useful lives.

The annual rates used are as follows:

Plant & machinery15% on cost

Stocks
Stocks, including biological assets, are stated at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and represents costs incurred to date to bring growing crops and finished produce to its current state. Net realisable value is estimated selling price in the ordinary course of business, less applicable variable selling expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

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

Little Plowlands Pigs Limited (Registered number: 12445626)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 187,114
DEPRECIATION
At 1 June 2022 22,586
Charge for year 11,478
At 31 May 2023 34,064
NET BOOK VALUE
At 31 May 2023 153,050
At 31 May 2022 164,528

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,202 2
Other debtors 40,709 1,000
VAT 3,089 10,746
Prepayments and accrued income 3,040 7,477
51,040 19,225

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,151 22,680
Trade creditors 7,407 127,326
Other creditors 33,166 202,355
Accruals and deferred income 6,197 4,190
70,921 356,551

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 347,655 372,269

On 24th April 2020 the directors drew down a loan of £440,000 to assist with the cost of initial pig stock purchase. The loan is to be repaid over a 5 year committed term by monthly repayments and fixed interest rate of 0.71% plus margin 3.75% with a bullet repayment at the end of the loan term. The repayment profile is based over a 15 year period.