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REGISTERED NUMBER: 11413752 (England and Wales)












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: I A Taylor
Mrs R W Baker





REGISTERED OFFICE: The Roost
Common Balk Lane
Burton Leonard
Harrogate
NorthYorkshire
HG3 3ST





REGISTERED NUMBER: 11413752 (England and Wales)





ACCOUNTANTS: F E Metcalfe & Co Limited
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 4 744,037 741,194

CURRENT ASSETS
Stocks 141,309 94,382
Debtors 5 307,315 182,945
Cash at bank and in hand 86,538 42,335
535,162 319,662
CREDITORS
Amounts falling due within one year 6 831,158 689,927
NET CURRENT LIABILITIES (295,996 ) (370,265 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,041

370,929

CREDITORS
Amounts falling due after more than one
year

7

(283,822

)

(303,638

)

PROVISIONS FOR LIABILITIES 8 (86,722 ) (61,234 )
NET ASSETS 77,497 6,057

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 77,487 6,047
77,497 6,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Ian Taylor Free Range Eggs Limited (Registered number: 11413752)

Balance Sheet - continued
30th June 2023


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 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 24th January 2024 and were signed on its behalf by:





I A Taylor - Director


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 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.

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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
Buildings etc Totals
£ £ £
COST
At 1st July 2022 428,022 597,974 1,025,996
Additions - 92,987 92,987
At 30th June 2023 428,022 690,961 1,118,983
DEPRECIATION
At 1st July 2022 31,944 252,858 284,802
Charge for year 8,561 81,583 90,144
At 30th June 2023 40,505 334,441 374,946
NET BOOK VALUE
At 30th June 2023 387,517 356,520 744,037
At 30th June 2022 396,078 345,116 741,194

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£ £
Trade debtors 295,029 178,495
VAT 10,434 2,471
Prepayments 1,852 1,979
307,315 182,945

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 25,768 23,306
Trade creditors 140,128 54,914
Corporation Tax 38,853 25,554
Social security and other taxes 4,933 4,313
Other creditors 7,113 14,747
Directors' loan accounts 588,405 535,011
Accrued expenses 25,958 32,082
831,158 689,927

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£ £
Bank loans - 1-2 years 25,768 23,306
Bank loans - 2-5 years 58,054 69,918
Bank loans - 10,414
Directors Loan account 200,000 200,000
283,822 303,638

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 61,234
Provided during year 25,488
Balance at 30th June 2023 86,722

9. ULTIMATE CONTROLLING PARTY

The directors are regarded as the ultimate controlling party, by virtue of their shareholdings.