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REGISTERED NUMBER: 02962056 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

MSF Welland Valley Feeds Limited

MSF Welland Valley Feeds Limited (Registered number: 02962056)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MSF Welland Valley Feeds Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: K E Farnsworth
S Garfield
J H Hardman





REGISTERED OFFICE: Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW





REGISTERED NUMBER: 02962056 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

MSF Welland Valley Feeds Limited (Registered number: 02962056)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 173,262 155,998
Investments 5 1,500 1,500
174,762 157,498

CURRENT ASSETS
Stocks 721,543 672,493
Debtors 6 373,610 364,555
Cash at bank and in hand 143,555 126,418
1,238,708 1,163,466
CREDITORS
Amounts falling due within one year 7 (499,973 ) (477,408 )
NET CURRENT ASSETS 738,735 686,058
TOTAL ASSETS LESS CURRENT
LIABILITIES

913,497

843,556

CREDITORS
Amounts falling due after more than one
year

8

(15,414

)

(18,885

)

PROVISIONS FOR LIABILITIES (28,639 ) (22,528 )
NET ASSETS 869,444 802,143

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Share premium 68,438 68,438
Retained earnings 797,006 729,705
869,444 802,143

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

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

MSF Welland Valley Feeds Limited (Registered number: 02962056)

Balance Sheet - continued
30 November 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 30 July 2024 and were signed on its behalf by:





K E Farnsworth - Director


MSF Welland Valley Feeds Limited (Registered number: 02962056)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

MSF Welland Valley Feeds 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Fixtures and fittings - 8% - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

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.

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.

MSF Welland Valley Feeds Limited (Registered number: 02962056)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Fixed asset investments are measured at fair value and the corresponding gain or loss is recognised in the Statement of Income and Retained Earnings.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 39 (2022 - 37 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 December 2022 60,984 304,483 68,247 39,605 473,319
Additions - 23,443 18,200 5,927 47,570
At 30 November 2023 60,984 327,926 86,447 45,532 520,889
DEPRECIATION
At 1 December 2022 40,646 217,535 31,821 27,319 317,321
Charge for year 2,754 12,341 11,521 3,690 30,306
At 30 November 2023 43,400 229,876 43,342 31,009 347,627
NET BOOK VALUE
At 30 November 2023 17,584 98,050 43,105 14,523 173,262
At 30 November 2022 20,338 86,948 36,426 12,286 155,998

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 December 2022
and 30 November 2023 1,500
NET BOOK VALUE
At 30 November 2023 1,500
At 30 November 2022 1,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 95,809 104,300
Amounts owed by group undertakings 234,104 234,004
Other debtors 43,697 26,251
373,610 364,555

Other debtors includes prepayments and accrued income of £43,697 (2022 £26,251).

MSF Welland Valley Feeds Limited (Registered number: 02962056)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 3,471 3,280
Trade creditors 439,692 405,933
Taxation and social security 42,017 56,380
Other creditors 14,793 11,815
499,973 477,408

Other creditors includes accruals and deferred income of £14,593 (2022 £11,815).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Hire purchase contracts 15,414 18,885

Hire purchase liabilities are secured on the individual assets being so acquired.

9. OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £1,164,652 (2022 £1,364,113).