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REGISTERED NUMBER: 10976902 (England and Wales)












BUCKETS ANIMAL FEEDS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

28 FEBRUARY 2022 TO 26 FEBRUARY 2023






BUCKETS ANIMAL FEEDS LTD (REGISTERED NUMBER: 10976902)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 FEBRUARY 2022 TO 26 FEBRUARY 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BUCKETS ANIMAL FEEDS LTD

COMPANY INFORMATION
FOR THE PERIOD 28 FEBRUARY 2022 TO 26 FEBRUARY 2023







DIRECTORS: Ms A E Gipps
R Walker





REGISTERED OFFICE: 1 Roman Way
Louth
Lincolnshire
LN11 9FJ





REGISTERED NUMBER: 10976902 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe (Louth)
Chartered Certified Accountants
1 Eastgate
Louth
United Kingdom
Lincolnshire
LN11 9NB

BUCKETS ANIMAL FEEDS LTD (REGISTERED NUMBER: 10976902)

ABRIDGED BALANCE SHEET
26 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 14,975 17,971
Tangible assets 4 51,676 30,952
66,651 48,923

CURRENT ASSETS
Stocks 80,000 80,000
Debtors 35,938 13,416
Cash at bank and in hand 12,226 51,983
128,164 145,399
CREDITORS
Amounts falling due within one year 167,634 136,917
NET CURRENT (LIABILITIES)/ASSETS (39,470 ) 8,482
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,181

57,405

CREDITORS
Amounts falling due after more than one year (22,500 ) (32,500 )

PROVISIONS FOR LIABILITIES (4,281 ) (5,881 )
NET ASSETS 400 19,024

BUCKETS ANIMAL FEEDS LTD (REGISTERED NUMBER: 10976902)

ABRIDGED BALANCE SHEET - continued
26 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 300 18,924
400 19,024

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 26 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 26 February 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 26 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 were approved by the Board of Directors and authorised for issue on 6 February 2024 and were signed on its behalf by:




R Walker - Director



Ms A E Gipps - Director


BUCKETS ANIMAL FEEDS LTD (REGISTERED NUMBER: 10976902)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 28 FEBRUARY 2022 TO 26 FEBRUARY 2023


1. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost and 20% on reducing balance
Fixtures and fittings - 33% on cost and 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the period 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 period 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.

BUCKETS ANIMAL FEEDS LTD (REGISTERED NUMBER: 10976902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 FEBRUARY 2022 TO 26 FEBRUARY 2023


1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2022 - 12 ) .

3. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 28 February 2022
and 26 February 2023 29,955
AMORTISATION
At 28 February 2022 11,984
Amortisation for period 2,996
At 26 February 2023 14,980
NET BOOK VALUE

At 26 February 2023 14,975
At 27 February 2022 17,971

BUCKETS ANIMAL FEEDS LTD (REGISTERED NUMBER: 10976902)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 28 FEBRUARY 2022 TO 26 FEBRUARY 2023


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 28 February 2022 63,878
Additions 32,292
Disposals (521 )
At 26 February 2023 95,649
DEPRECIATION
At 28 February 2022 32,926
Charge for period 11,284
Eliminated on disposal (237 )
At 26 February 2023 43,973
NET BOOK VALUE
At 26 February 2023 51,676
At 27 February 2022 30,952

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 26 February 2023 and the year ended 27 February 2022:

2023 2022
£    £   
R Walker
Balance outstanding at start of period 2,091 10,061
Amounts advanced 53,141 62,939
Amounts repaid (63,258 ) (70,909 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (8,026 ) 2,091

Ms A E Gipps
Balance outstanding at start of period 1,891 40,358
Amounts advanced 50,233 40,702
Amounts repaid (60,149 ) (79,169 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (8,025 ) 1,891