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REGISTERED NUMBER: 11060947 (England and Wales)















PINGLE POULTRY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PINGLE POULTRY LIMITED (REGISTERED NUMBER: 11060947)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


PINGLE POULTRY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr R G Read
Mrs S J Read
Mr H Moreton
Mrs J L Moreton





REGISTERED OFFICE: Campney Cottage
Campney Lane
Bucknall
Lincolnshire
LN10 5DX





REGISTERED NUMBER: 11060947 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

PINGLE POULTRY LIMITED (REGISTERED NUMBER: 11060947)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,218,724 1,095,134
Investment property 5 4,506,779 4,506,779
5,725,503 5,601,913

CURRENT ASSETS
Debtors 6 88,600 105,046
Cash at bank 107,083 319,415
195,683 424,461
CREDITORS
Amounts falling due within one year 7 443,504 555,405
NET CURRENT LIABILITIES (247,821 ) (130,944 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,477,682 5,470,969

CREDITORS
Amounts falling due after more than one year 8 (3,668,113 ) (4,200,650 )

PROVISIONS FOR LIABILITIES (568,302 ) (333,532 )
NET ASSETS 1,241,267 936,787

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Retained earnings 1,236,267 931,787
1,241,267 936,787

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 18 March 2024 and were signed on its behalf by:



Mr H Moreton - Director


PINGLE POULTRY LIMITED (REGISTERED NUMBER: 11060947)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Pingle 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.

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

Revenue generated from the investment properties is recognised for the relevant period in which the properties are let.

All revenue is only recognised when it can be measured reliably, it is probable that economic benefits associated with the transaction will flow to the entity and the costs incurred, or to be incurred, associated with the transaction can be measured reliably.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

PINGLE POULTRY LIMITED (REGISTERED NUMBER: 11060947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 359,317 885,518 1,244,835
Additions - 176,700 176,700
At 31 December 2023 359,317 1,062,218 1,421,535
DEPRECIATION
At 1 January 2023 - 149,701 149,701
Charge for year - 53,110 53,110
At 31 December 2023 - 202,811 202,811
NET BOOK VALUE
At 31 December 2023 359,317 859,407 1,218,724
At 31 December 2022 359,317 735,817 1,095,134

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 4,506,779
NET BOOK VALUE
At 31 December 2023 4,506,779
At 31 December 2022 4,506,779

The directors consider the carrying value of investment properties to be a fair and reasonable value on an open market basis at 31 December 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 72,713 91,590
Other debtors 15,887 13,456
88,600 105,046

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 158,004 158,004
Trade creditors 4,500 -
Taxation and social security 88,421 245,959
Other creditors 192,579 151,442
443,504 555,405

PINGLE POULTRY LIMITED (REGISTERED NUMBER: 11060947)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,844,216 2,306,753
Other creditors 1,823,897 1,893,897
3,668,113 4,200,650

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due over 5 years 1,212,200 1,674,737

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 2,002,220 2,464,757

Bank loans are secured by fixed and floating charges over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
Value: £ £
1,500 Ordinary A £1 1,500 1,500
1,500 Ordinary B £1 1,500 1,500
1,000 Ordinary C £1 1,000 1,000
1,000 Ordinary D £1 1,000 1,000
5,000 5,000