Company Registration No. 10404214 (England and Wales)
VINNALS POULTRY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
VINNALS POULTRY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
VINNALS POULTRY LIMITED
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,737,787
1,829,249
Current assets
Stocks
15,000
3,400
Debtors
4
505,443
151,878
Cash at bank and in hand
125,114
348,381
645,557
503,659
Creditors: amounts falling due within one year
5
(517,360)
(509,950)
Net current assets/(liabilities)
128,197
(6,291)
Total assets less current liabilities
1,865,984
1,822,958
Creditors: amounts falling due after more than one year
6
(1,358,060)
(1,487,520)
Provisions for liabilities
(115,748)
(56,030)
Net assets
392,176
279,408
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
392,076
279,308
Total equity
392,176
279,408

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

VINNALS POULTRY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2023
31 May 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
Mr AM Davies
Mr CJ Davies
Director
Director
Mrs LM Davies
Mr SC Davies
Director
Director
Company registration number 10404214 (England and Wales)
VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information

Vinnals Poultry Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury, SY1 3GA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
5% reducing balance
Plant and equipment
5% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
828,700
1,425,238
2,253,938
Depreciation and impairment
At 1 June 2022
173,930
250,759
424,689
Depreciation charged in the year
32,738
58,724
91,462
At 31 May 2023
206,668
309,483
516,151
Carrying amount
At 31 May 2023
622,032
1,115,755
1,737,787
At 31 May 2022
654,770
1,174,479
1,829,249
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
457,561
71,897
Corporation tax recoverable
22,707
-
0
Other debtors
21,092
73,164
Prepayments and accrued income
4,083
6,817
505,443
151,878
VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
130,259
131,058
Trade creditors
383,009
366,382
Taxation and social security
1,393
687
Other creditors
-
0
234
Accruals and deferred income
2,699
11,589
517,360
509,950
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
1,358,060
1,487,520

 

The bank borrowing is secured by a charge over property owned by some of the directors.

7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
8
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Interest free loan
-
12,607
12,607
(12,607)
12,607
12,607
12,607
(12,607)
12,607

The director's loan was repaid within 9 months of the year end.

2023-05-312022-06-01false31 January 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityDavies, Andrew MichaelDavies, Colin JamesDavies, Lynda MaryDavies, Steven Colinfalse104042142022-06-012023-05-31104042142023-05-31104042142022-05-3110404214core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-05-3110404214core:PlantMachinery2023-05-3110404214core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-05-3110404214core:PlantMachinery2022-05-3110404214core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-3110404214core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-3110404214core:Non-currentFinancialInstrumentscore:AfterOneYear2023-05-3110404214core:Non-currentFinancialInstrumentscore:AfterOneYear2022-05-3110404214core:CurrentFinancialInstruments2023-05-3110404214core:CurrentFinancialInstruments2022-05-3110404214core:ShareCapital2023-05-3110404214core:ShareCapital2022-05-3110404214core:RetainedEarningsAccumulatedLosses2023-05-3110404214core:RetainedEarningsAccumulatedLosses2022-05-3110404214core:ShareCapitalOrdinaryShares2023-05-3110404214core:ShareCapitalOrdinaryShares2022-05-3110404214bus:Director12022-06-012023-05-3110404214bus:Director22022-06-012023-05-3110404214bus:Director32022-06-012023-05-3110404214bus:Director42022-06-012023-05-3110404214core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-06-012023-05-3110404214core:PlantMachinery2022-06-012023-05-31104042142021-06-012022-05-3110404214core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-05-3110404214core:PlantMachinery2022-05-31104042142022-05-3110404214core:Non-currentFinancialInstruments2023-05-3110404214core:Non-currentFinancialInstruments2022-05-3110404214bus:OrdinaryShareClass12023-05-3110404214bus:OrdinaryShareClass12022-06-012023-05-3110404214bus:PrivateLimitedCompanyLtd2022-06-012023-05-3110404214bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-3110404214bus:FRS1022022-06-012023-05-3110404214bus:AuditExemptWithAccountantsReport2022-06-012023-05-3110404214bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP