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Registration number: 07615887

Marsh Poultry Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Marsh Poultry Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Marsh Poultry Ltd

Company Information

Directors

Mrs J Marsh

Mr Steven Marsh

Registered office

1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

Marsh Poultry Ltd

(Registration number: 07615887)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

18,115

21,397

Current assets

 

Stocks

6

250

225

Debtors

7

5,990

7,396

Cash at bank and in hand

 

100,564

83,527

 

106,804

91,148

Creditors: Amounts falling due within one year

8

(20,056)

(19,500)

Net current assets

 

86,748

71,648

Total assets less current liabilities

 

104,863

93,045

Creditors: Amounts falling due after more than one year

8

(218,960)

(236,131)

Net liabilities

 

(114,097)

(143,086)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(114,197)

(143,186)

Shareholders' deficit

 

(114,097)

(143,086)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 October 2024 and signed on its behalf by:
 

.........................................
Mr Steven Marsh
Director

 

Marsh Poultry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

These financial statements were authorised for issue by the Board on 21 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Marsh Poultry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Equipment

15% reducing balance basis

Tractors

15% reducing balance

Office equipment

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line basis over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Marsh Poultry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Marsh Poultry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

200,000

200,000

At 30 June 2024

200,000

200,000

Amortisation

At 1 July 2023

200,000

200,000

At 30 June 2024

200,000

200,000

Carrying amount

At 30 June 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Other tangible assets
 £

Cost or valuation

At 1 July 2023

13,440

6,316

18,844

47,618

At 30 June 2024

13,440

6,316

18,844

47,618

Depreciation

At 1 July 2023

11,290

4,681

18,114

30,736

Charge for the year

322

246

182

2,532

At 30 June 2024

11,612

4,927

18,296

33,268

Carrying amount

At 30 June 2024

1,828

1,389

548

14,350

At 30 June 2023

2,150

1,635

730

16,882

 

Marsh Poultry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Total
£

Cost or valuation

At 1 July 2023

86,218

At 30 June 2024

86,218

Depreciation

At 1 July 2023

64,821

Charge for the year

3,282

At 30 June 2024

68,103

Carrying amount

At 30 June 2024

18,115

At 30 June 2023

21,397

6

Stocks

2024
£

2023
£

Other inventories

250

225

7

Debtors

Current

2024
£

2023
£

Trade debtors

5,990

7,396

 

5,990

7,396

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,648

10,000

Trade creditors

 

4,360

4,395

Taxation and social security

 

2,180

2,966

Accruals and deferred income

 

1,940

1,729

Other creditors

 

928

410

 

20,056

19,500

 

Marsh Poultry Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

218,960

236,131

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

10,104

20,746

Other borrowings

208,856

215,385

218,960

236,131

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,648

10,000