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REGISTERED NUMBER: 06942470 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

SEVERN VALLEY LAMB LIMITED

SEVERN VALLEY LAMB LIMITED (REGISTERED NUMBER: 06942470)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SEVERN VALLEY LAMB LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr R. A. Pritchard
Mr T H Pritchard





REGISTERED OFFICE: Newtown Abattoir
Stafford road
Bloxwich
WS6 6AY





REGISTERED NUMBER: 06942470 (England and Wales)





ACCOUNTANTS: Stanton Ralph & Co Limited
Chartered Accountants
The Old Police Station
Whitburn Street
Bridgnorth
Shropshire
WV16 4QP

SEVERN VALLEY LAMB LIMITED (REGISTERED NUMBER: 06942470)

ABRIDGED BALANCE SHEET
31ST MARCH 2024

31.3.23 31.3.24
£    £    Notes £    £   
FIXED ASSETS
996,726 Tangible assets 4 1,053,521

CURRENT ASSETS
117,014 Debtors 119,077
545,996 Cash at bank and in hand 185,738
663,010 304,815
CREDITORS
567,287 Amounts falling due within one year 251,173
95,723 NET CURRENT ASSETS 53,642
1,092,449 TOTAL ASSETS LESS CURRENT LIABILITIES 1,107,163

CREDITORS

(488,137

)
Amounts falling due after more than one
year

5

(411,790

)

(91,478 ) PROVISIONS FOR LIABILITIES (106,800 )
512,834 NET ASSETS 588,573

CAPITAL AND RESERVES
100 Called up share capital 7 100
512,734 Retained earnings 588,473
512,834 SHAREHOLDERS' FUNDS 588,573

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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.

SEVERN VALLEY LAMB LIMITED (REGISTERED NUMBER: 06942470)

ABRIDGED BALANCE SHEET - continued
31ST MARCH 2024


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 Income Statement and an abridged Balance Sheet for the year ended 31st March 2024 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 25th June 2024 and were signed on its behalf by:





Mr T H Pritchard - Director


SEVERN VALLEY LAMB LIMITED (REGISTERED NUMBER: 06942470)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Severn Valley Lamb 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.

The company has net current liabilities and continues to trade by virtue of support from its directors, bankers and creditors.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 15% on reducing balance

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 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

SEVERN VALLEY LAMB LIMITED (REGISTERED NUMBER: 06942470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

Revenue grants received
Revenue grants received are credited to the profit and loss in line with related expenditure.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 1,260,120
Additions 123,694
At 31st March 2024 1,383,814
DEPRECIATION
At 1st April 2023 263,394
Charge for year 66,899
At 31st March 2024 330,293
NET BOOK VALUE
At 31st March 2024 1,053,521
At 31st March 2023 996,726

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1st April 2023
and 31st March 2024 54,500
DEPRECIATION
Charge for year 7,494
At 31st March 2024 7,494
NET BOOK VALUE
At 31st March 2024 47,006
At 31st March 2023 54,500

SEVERN VALLEY LAMB LIMITED (REGISTERED NUMBER: 06942470)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.3.24 31.3.23
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 198,899 220,674

6. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 275,958 519,182

The company's bankers hold a fixed and floating charge over the company's assets.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100