2022-08-012023-07-312023-07-31false04536928PENCEFN FEEDS 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PENCEFN FEEDS LIMITED

Registered Number
04536928
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

PENCEFN FEEDS LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Directors

LLOYD, William James
LLOYD, William Henry

Registered Address

Pencefn Drysgol
Tregaron
Ceredigion
SY25 6NH

Registered Number

04536928 (England and Wales)
PENCEFN FEEDS LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5608,799649,857
608,799649,857
Current assets
Stocks7140,000110,000
Debtors8324,933430,648
Cash at bank and on hand785785
465,718541,433
Creditors amounts falling due within one year9(468,818)(612,439)
Net current assets (liabilities)(3,100)(71,006)
Total assets less current liabilities605,699578,851
Creditors amounts falling due after one year10(270,543)(264,292)
Net assets335,156314,559
Capital and reserves
Called up share capital26,00026,000
Profit and loss account309,156288,559
Shareholders' funds335,156314,559
The financial statements were approved and authorised for issue by the Board of Directors on 6 December 2023, and are signed on its behalf by:
LLOYD, William Henry
Director
Registered Company No. 04536928
PENCEFN FEEDS LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 August 22289,0421,294,23133,8111,617,084
Additions-85,778-85,778
At 31 July 23289,0421,380,00933,8111,702,862
Depreciation and impairment
At 01 August 2260,305878,11128,811967,227
Charge for year5,781116,0555,000126,836
At 31 July 2366,086994,16633,8111,094,063
Net book value
At 31 July 23222,956385,843-608,799
At 31 July 22228,737416,1205,000649,857
6.Description of nature of transactions and balances with related parties
The directors in the company are all members of a partnership trading as Messrs W H J Lloyd and Co. During the period the company rented storage facilities, hired machinery and sold animal feeds to the partnership. Also, the directors are all directors of Pencefn Livestock Limited. During the year the Company purchased crop for the boilers from Pencefn Livestock Limited. In addition, the directors are all directors of Pencefn Energy Ltd. During the year a management fee was charged from Pencefn Energy to Pencefn Feeds Ltd. Each of the directors wives are partners in Cambrian Partners, during the year Cambrian Partners provided bunded tanks to the Company. All transactions were under normal trading terms and conditions and were charged at full market value.
7.Stocks

2023

2022

££
Other stocks140,000110,000
Total140,000110,000
8.Debtors

2023

2022

££
Trade debtors / trade receivables2,717143,924
Amounts owed by associates and joint ventures / participating interests295,603164,603
Other debtors26,61326,121
Prepayments and accrued income-96,000
Total324,933430,648
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables178,798213,314
Bank borrowings and overdrafts23,35042,594
Amounts owed to related parties134,981168,933
Finance lease and HP contracts22,04014,540
Other creditors107,919171,458
Accrued liabilities and deferred income1,7301,600
Total468,818612,439
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts232,318236,424
Other creditors38,22527,868
Total270,543264,292
11.Finance lease and HP contracts after one year

2023

2022

££
Finance lease and HP contracts23,81827,868