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REGISTERED NUMBER: 12590886 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

POTTERS POULTRY LIMITED

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


POTTERS POULTRY LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: J M Potter
Mrs O J Stacey





SECRETARY: J M Potter





REGISTERED OFFICE: Pro Logis Park
Oxford Road
Ryton on Dunsmore
Coventry
Warwickshire
CV8 3EJ





REGISTERED NUMBER: 12590886 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,007 67,507
Tangible assets 5 112,854 164,806
172,861 232,313

CURRENT ASSETS
Stocks 6 714,244 1,069,965
Debtors 7 1,134,193 1,336,188
Cash at bank and in hand 69,127 37,228
1,917,564 2,443,381
CREDITORS
Amounts falling due within one year 8 1,794,011 2,209,532
NET CURRENT ASSETS 123,553 233,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

296,414

466,162

CREDITORS
Amounts falling due after more than one
year

9

1,342,056

1,076,053
NET LIABILITIES (1,045,642 ) (609,891 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings (1,045,742 ) (609,991 )
SHAREHOLDERS' FUNDS (1,045,642 ) (609,891 )

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 28 March 2024 and were signed on its behalf by:





J M Potter - Director


POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Potters Poultry 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on the going concern basis. The Company's ability to continue trading is dependent upon management of cashflow. Following the sale of a freehold property in the parent company, the parent company is now looking to support group cash flow over the next 12 months to stabilise the overall business and to support growth in certain markets. The directors believe that there is sufficient cash flow to support the business over the next 12 month and that the company is therefore a going concern for the foreseeable future. The Directors consider it appropriate to prepare the financial statements on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:

Farm Services and Rearing
Turnover represents the sale of poultry housing systems and the sale of rearing poultry to the egg laying industry.

Sales are accounted for as long term contracts under the provisions of Section 23 FRS102 where appropriate. Contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the proportion of total costs incurred at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten 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.

Intellectual Property are being amortised evenly over their estimated useful life of ten years.

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided in order to write off each asset over its estimate useful life.
Plant and machinery - follows 15% straight line policy adopted from Group Company from which assets acquired, based on acquisition price relative to previous net book value.
Motor vehicles- follows 25% straight line policy adopted from Group Company from which assets acquired, following previous depreciation as economic life unchanged.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair market value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account.

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.

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease in accordance with section 20.15 FRS102.

Hire purchase and finance leases
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair market value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2022 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
Goodwill Property Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 75,000 7 75,007
AMORTISATION
At 1 April 2022 7,500 - 7,500
Amortisation for year 7,500 - 7,500
At 31 March 2023 15,000 - 15,000
NET BOOK VALUE
At 31 March 2023 60,000 7 60,007
At 31 March 2022 67,500 7 67,507

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 190,375 146,975 337,350
Additions 31,839 950 32,789
Disposals (32,745 ) (50,536 ) (83,281 )
At 31 March 2023 189,469 97,389 286,858
DEPRECIATION
At 1 April 2022 71,157 101,387 172,544
Charge for year 31,026 22,137 53,163
Eliminated on disposal (17,714 ) (33,989 ) (51,703 )
At 31 March 2023 84,469 89,535 174,004
NET BOOK VALUE
At 31 March 2023 105,000 7,854 112,854
At 31 March 2022 119,218 45,588 164,806

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2022 21,993 29,700 51,693
Disposals - (29,700 ) (29,700 )
At 31 March 2023 21,993 - 21,993
DEPRECIATION
At 1 April 2022 3,533 10,875 14,408
Charge for year 2,769 3,560 6,329
Eliminated on disposal - (14,435 ) (14,435 )
At 31 March 2023 6,302 - 6,302
NET BOOK VALUE
At 31 March 2023 15,691 - 15,691
At 31 March 2022 18,460 18,825 37,285

6. STOCKS
2023 2022
£    £   
Stocks 551,264 780,665
Work-in-progress 162,980 289,300
714,244 1,069,965

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 408,646 371,813
Amounts owed by group undertakings 5,000 1,351
Amounts recoverable on contract 538,558 634,001
Other debtors - 131
Directors' current accounts - 15,640
VAT 51,875 1,333
Prepayments and accrued income 130,114 311,919
1,134,193 1,336,188

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) - 6,065
Trade creditors 1,273,325 1,143,032
Amounts owed to group undertakings 138,017 151,974
Social security and other taxes 49,734 38,136
Other creditors 77,330 126,892
Amounts received on contracts 198,442 533,970
Accrued expenses 57,163 209,463
1,794,011 2,209,532

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) - 10,659
Amounts owed to group undertakings 1,342,056 1,065,394
1,342,056 1,076,053

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year - 6,065
Between one and five years - 10,659
- 16,724

Non-cancellable operating leases
2023 2022
£    £   
Between one and five years 243,750 -

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts - 16,724

The hire purchase liabilities are secured against the assets to which they relate.
The invoice discounting liability is secured with a fixed and floating charge against the assets of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford FCA FCCA (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J M Potter
Balance outstanding at start of year 7,820 (148 )
Amounts advanced 10,233 7,968
Amounts repaid (18,053 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,820

Mrs O J Stacey
Balance outstanding at start of year 7,820 (504 )
Amounts advanced 10,233 8,324
Amounts repaid (18,053 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 7,820

15. PARENT UNDERTAKING

The parent company is W Potter & Sons (Holdings) Ltd, registered in England.