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REGISTERED NUMBER: 02352777 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

MAELOR FEEDS LIMITED

MAELOR FEEDS LIMITED (REGISTERED NUMBER: 02352777)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MAELOR FEEDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Mr J W Glover
Mr G A Danks





SECRETARY: Mrs C L Glover





REGISTERED OFFICE: Pandy Farm
Bangor on Dee
Wrexham
LL13 0BL





REGISTERED NUMBER: 02352777 (England and Wales)





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

MAELOR FEEDS LIMITED (REGISTERED NUMBER: 02352777)

ABRIDGED BALANCE SHEET
31ST MAY 2024

31.5.23 31.5.24
£    £    Notes £    £   
FIXED ASSETS
8,000 Intangible assets 4 6,000
522,857 Tangible assets 5 488,981
530,857 494,981

CURRENT ASSETS
309,472 Stocks 266,944
1,722,365 Debtors 1,955,786
1,132 Cash in hand -
2,032,969 2,222,730
CREDITORS
1,454,047 Amounts falling due within one year 1,391,377
578,922 NET CURRENT ASSETS 831,353
1,109,779 TOTAL ASSETS LESS CURRENT LIABILITIES 1,326,334

CREDITORS

(82,158

)
Amounts falling due after more than one
year

(67,732

)

(56,647 ) PROVISIONS FOR LIABILITIES (82,413 )
970,974 NET ASSETS 1,176,189

CAPITAL AND RESERVES
1,000 Called up share capital 7 1,000
969,974 Retained earnings 1,175,189
970,974 SHAREHOLDERS' FUNDS 1,176,189

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

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

MAELOR FEEDS LIMITED (REGISTERED NUMBER: 02352777)

ABRIDGED BALANCE SHEET - continued
31ST MAY 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 May 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 30th September 2024 and were signed on its behalf by:




Mr G A Danks - Director



Mr J W Glover - Director


MAELOR FEEDS LIMITED (REGISTERED NUMBER: 02352777)

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

1. STATUTORY INFORMATION

Maelor 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.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, 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 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.

MAELOR FEEDS LIMITED (REGISTERED NUMBER: 02352777)

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

2. ACCOUNTING POLICIES - continued

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.

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 19 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023
and 31st May 2024 140,000
AMORTISATION
At 1st June 2023 132,000
Amortisation for year 2,000
At 31st May 2024 134,000
NET BOOK VALUE

At 31st May 2024 6,000
At 31st May 2023 8,000

MAELOR FEEDS LIMITED (REGISTERED NUMBER: 02352777)

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st June 2023 1,419,134
Additions 66,123
Disposals (22,996 )
At 31st May 2024 1,462,261
DEPRECIATION
At 1st June 2023 896,277
Charge for year 89,057
Eliminated on disposal (12,054 )
At 31st May 2024 973,280
NET BOOK VALUE
At 31st May 2024 488,981
At 31st May 2023 522,857

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

Totals
£   
COST
At 1st June 2023 357,248
Additions 53,750
Transfer to ownership (18,756 )
At 31st May 2024 392,242
DEPRECIATION
At 1st June 2023 161,164
Charge for year 44,515
Transfer to ownership (10,849 )
At 31st May 2024 194,830
NET BOOK VALUE
At 31st May 2024 197,412
At 31st May 2023 196,084

6. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank overdrafts 84,775 125,713

There is a fixed and floating charge in favour of Midland Bank PLC dated 20th August 1994

MAELOR FEEDS LIMITED (REGISTERED NUMBER: 02352777)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
250 Ordinary A £1 250 250
250 Ordinary B £1 250 250
500 Ordinary C £1 500 500
1,000 1,000