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REGISTERED NUMBER: 06193928 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE WOOSAA CHICKEN CO LTD

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE WOOSAA CHICKEN CO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: S N Coates
Mrs C J Coates





SECRETARY: Mrs C J Coates





REGISTERED OFFICE: 66 London Road
East Grinstead
West Sussex
RH19 1AB





REGISTERED NUMBER: 06193928 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
as restated
Notes £    £   
FIXED ASSETS
Intangible assets 4 10,277 11,746
Tangible assets 5 2,663,297 3,005,213
2,673,574 3,016,959

CURRENT ASSETS
Stocks 42,630 58,644
Debtors 6 180,512 220,958
Cash in hand 14,831 50,247
237,973 329,849
CREDITORS
Amounts falling due within one year 7 (2,325,057 ) (1,853,027 )
NET CURRENT LIABILITIES (2,087,084 ) (1,523,178 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

586,490

1,493,781

CREDITORS
Amounts falling due after more than one
year

8

(1,995,413

)

(2,356,679

)
NET LIABILITIES (1,408,923 ) (862,898 )

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

BALANCE SHEET - continued
31 DECEMBER 2023

2023 2022
as restated
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 9 120 120
Share premium 559,980 559,980
Retained earnings (1,969,023 ) (1,422,998 )
SHAREHOLDERS' FUNDS (1,408,923 ) (862,898 )

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





S N Coates - Director


THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

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

1. STATUTORY INFORMATION

The Woosaa Chicken Co Ltd 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.

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.

Franchise costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

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.

Improvements to property - Over the term of the lease
Plant and machinery - 25% reducing balance
Fixtures and fittings - 15% reducing balance
Motor vehicles - 25% straight line
Computer equipment - 33% straight line

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 143 (2022 - 163 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 71,239
AMORTISATION
At 1 January 2023 59,493
Charge for year 1,469
At 31 December 2023 60,962
NET BOOK VALUE
At 31 December 2023 10,277
At 31 December 2022 11,746

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 3,207,080 653,376 658,797
Additions 8,526 6,415 3,299
Disposals (26,100 ) - -
At 31 December 2023 3,189,506 659,791 662,096
DEPRECIATION
At 1 January 2023 698,197 518,733 403,419
Charge for year 200,953 35,264 38,802
Eliminated on disposal (2,610 ) - -
At 31 December 2023 896,540 553,997 442,221
NET BOOK VALUE
At 31 December 2023 2,292,966 105,794 219,875
At 31 December 2022 2,508,883 134,643 255,378

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 146,833 70,998 4,737,084
Additions - 2,040 20,280
Disposals (48,000 ) - (74,100 )
At 31 December 2023 98,833 73,038 4,683,264
DEPRECIATION
At 1 January 2023 43,292 68,230 1,731,871
Charge for year 24,708 2,979 302,706
Eliminated on disposal (12,000 ) - (14,610 )
At 31 December 2023 56,000 71,209 2,019,967
NET BOOK VALUE
At 31 December 2023 42,833 1,829 2,663,297
At 31 December 2022 103,541 2,768 3,005,213

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 January 2023 130,500
Disposals (48,000 )
At 31 December 2023 82,500
DEPRECIATION
At 1 January 2023 32,625
Charge for year 20,625
Eliminated on disposal (12,000 )
At 31 December 2023 41,250
NET BOOK VALUE
At 31 December 2023 41,250
At 31 December 2022 97,875

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 266 9,833
Other debtors 180,246 211,125
180,512 220,958

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 659,297 487,323
Hire purchase contracts 32,358 38,262
Trade creditors 855,941 868,454
Taxation and social security 505,612 367,133
Other creditors 271,849 91,855
2,325,057 1,853,027

THE WOOSAA CHICKEN CO LTD (REGISTERED NUMBER: 06193928)

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
as restated
£    £   
Bank loans 1,898,146 2,193,969
Hire purchase contracts 97,267 162,710
1,995,413 2,356,679

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
110 Ordinary £1 120 120

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
as restated
£    £   
S N Coates
Balance outstanding at start of year 28,707 (148,505 )
Amounts advanced 128,194 189,323
Amounts repaid (405,562 ) (12,111 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (248,661 ) 28,707