REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30th June 2023 |
for |
Ian Taylor Free Range Eggs Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 30th June 2023 |
for |
Ian Taylor Free Range Eggs Limited |
Ian Taylor Free Range Eggs Limited (Registered number: 11413752) |
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 |
Ian Taylor Free Range Eggs Limited |
Company Information |
For The Year Ended 30th June 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 Old Market Place |
Ripon |
North Yorkshire |
HG4 1EQ |
Ian Taylor Free Range Eggs Limited (Registered number: 11413752) |
Balance Sheet |
30th June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
Ian Taylor Free Range Eggs Limited (Registered number: 11413752) |
Balance Sheet - continued |
30th June 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ian Taylor Free Range Eggs Limited (Registered number: 11413752) |
Notes to the Financial Statements |
For The Year Ended 30th June 2023 |
1. | STATUTORY INFORMATION |
Ian Taylor Free Range Eggs Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover from the sale of goods and produce is recognised when the ownership of the goods or produce transfers to the buyer, this is usually on delivery of the goods or produce to the buyer. |
Tangible fixed assets |
Buildings 2% Straight Line |
Plant & Equipment 20% Straight Line |
Poultry equipment 10% Straight Line and 20% Straight Line |
Computer and office equipment 33% Straight Line |
Tractors and motor vehicles 25% Straight Line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Production animals are valued at net realisable value which is determined by consistently writing down the cost of the production animals to anticipated cull value, which is usually nil. The writing down is made on a straight line basis over the animals expected productive life. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Ian Taylor Free Range Eggs Limited (Registered number: 11413752) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. |
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
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 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
Buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st July 2022 |
Additions |
At 30th June 2023 |
DEPRECIATION |
At 1st July 2022 |
Charge for year |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
VAT |
Prepayments |
Ian Taylor Free Range Eggs Limited (Registered number: 11413752) |
Notes to the Financial Statements - continued |
For The Year Ended 30th June 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation Tax |
Social security and other taxes |
Other creditors |
Directors' loan accounts |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank loans |
Directors Loan account |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | - | 10,414 |
8. | PROVISIONS FOR LIABILITIES |
30.6.23 | 30.6.22 |
£ | £ |
Deferred tax | 86,722 | 61,234 |
Deferred tax |
£ |
Balance at 1st July 2022 |
Provided during year |
Balance at 30th June 2023 |
9. | ULTIMATE CONTROLLING PARTY |