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REGISTERED NUMBER: 07059465 (England and Wales)









WELSHPOOL LIVESTOCK SALES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2023 TO 31 MARCH 2024






WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WELSHPOOL LIVESTOCK SALES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024







DIRECTORS: J O Evans
L K Davies
T E Evans
A H Turner
R N Lunt
R D Evans
J G Lewis
M J Williams
D T L Jones
T J Davies





REGISTERED OFFICE: The New Smithfield
Buttington Cross
Welshpool
Powys
SY21 8SR





REGISTERED NUMBER: 07059465 (England and Wales)

WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 201,250 245,000
Tangible assets 5 715,842 695,332
917,092 940,332

CURRENT ASSETS
Debtors 6 6,321,834 5,508,091
Cash at bank 19,317 19,317
6,341,151 5,527,408
CREDITORS
Amounts falling due within one year 7 6,231,534 5,452,696
NET CURRENT ASSETS 109,617 74,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,026,709

1,015,044

CREDITORS
Amounts falling due after more than one
year

8

(75,862

)

-

PROVISIONS FOR LIABILITIES (156,660 ) (146,407 )
NET ASSETS 794,187 868,637

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 794,186 868,636
SHAREHOLDERS' FUNDS 794,187 868,637

WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

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

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 17 September 2024 and were signed on its behalf by:





A H Turner - Director


WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


1. STATUTORY INFORMATION

Welshpool Livestock Sales 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 represents net invoiced sales, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% Straight Line
Market Equipment - 4% Straight Line
Computer equipment - 25% Straight Line

Taxation
Taxation for the period 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 statement of financial position date.


WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 47 (2022 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 March 2024 700,000
AMORTISATION
At 1 January 2023 455,000
Amortisation for period 43,750
At 31 March 2024 498,750
NET BOOK VALUE
At 31 March 2024 201,250
At 31 December 2022 245,000

WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Plant and Market Computer
machinery Equipment equipment Totals
£    £    £    £   
COST
At 1 January 2023 507,567 1,130,275 120,649 1,758,491
Additions - 105,227 1,080 106,307
At 31 March 2024 507,567 1,235,502 121,729 1,864,798
DEPRECIATION
At 1 January 2023 415,565 551,448 96,146 1,063,159
Charge for period 18,314 57,907 9,576 85,797
At 31 March 2024 433,879 609,355 105,722 1,148,956
NET BOOK VALUE
At 31 March 2024 73,688 626,147 16,007 715,842
At 31 December 2022 92,002 578,827 24,503 695,332

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 6,310,044 5,487,954
Other debtors 11,790 20,137
6,321,834 5,508,091

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 1,866,613 2,477,638
Hire purchase contracts - 7,000
Trade creditors 2,664,157 1,318,112
Amounts owed to group undertakings 1,041,377 976,848
Taxation and social security 323,004 250,980
Other creditors 336,383 422,118
6,231,534 5,452,696

WELSHPOOL LIVESTOCK SALES LIMITED (REGISTERED NUMBER: 07059465)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2023 TO 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2022
£    £   
Bank loans 75,862 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2022
£    £   
Bank overdrafts 1,845,923 2,477,638
Bank loans 96,552 -
1,942,475 2,477,638

The group bank borrowings are secured by a mortgage over the freehold property and fixed and floating charge over all assets.

10. RELATED PARTY DISCLOSURES

At 31 March 2024 there was an amount due to the parent company of £1,041,377 (2022: £976,847), and included in other creditors were amounts due to the ultimate controlling party of £211,112 (2022: £211,112).

11. ULTIMATE CONTROLLING PARTY

The controlling party is Welshpool Holdings Limited.

The ultimate controlling party is Messrs Morris Marshall & Poole with Norman Lloyd & Co who own 100% of the holding company's share capital.