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REGISTERED NUMBER: 04923177 (England and Wales)















Mayfield Livestock Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Mayfield Livestock Ltd (Registered number: 04923177)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mayfield Livestock Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: V Barratt
M J Barratt





SECRETARY: V Barratt





REGISTERED OFFICE: Mayfield
Coed Morgan
Abergavenny
NP7 9UL





REGISTERED NUMBER: 04923177 (England and Wales)





ACCOUNTANTS: O'Brien & Partners
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Mayfield Livestock Ltd (Registered number: 04923177)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 162,982 184,332

CURRENT ASSETS
Stocks 17,004 17,004
Debtors 5 262,729 283,788
Cash at bank 12,418 34,214
292,151 335,006
CREDITORS
Amounts falling due within one year 6 205,881 241,949
NET CURRENT ASSETS 86,270 93,057
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,252

277,389

CREDITORS
Amounts falling due after more than one year 7 15,833 25,833
NET ASSETS 233,419 251,556

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 233,319 251,456
233,419 251,556

Mayfield Livestock Ltd (Registered number: 04923177)

Balance Sheet - continued
31 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





M J Barratt - Director


Mayfield Livestock Ltd (Registered number: 04923177)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Mayfield Livestock 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% 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.

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.

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 NIL (2022 - NIL).

Mayfield Livestock Ltd (Registered number: 04923177)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 November 2022 89,193 147,860 138,327 375,380
Additions - - 56,908 56,908
Disposals - - (56,142 ) (56,142 )
At 31 October 2023 89,193 147,860 139,093 376,146
DEPRECIATION
At 1 November 2022 20,664 130,678 39,706 191,048
Charge for year 8,919 2,577 14,129 25,625
Eliminated on disposal - - (3,509 ) (3,509 )
At 31 October 2023 29,583 133,255 50,326 213,164
NET BOOK VALUE
At 31 October 2023 59,610 14,605 88,767 162,982
At 31 October 2022 68,529 17,182 98,621 184,332

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 257,130 241,727
Other debtors 5,599 42,061
262,729 283,788

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 190,489 132,251
Taxation and social security 2,097 2,265
Other creditors 3,295 97,433
205,881 241,949

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 15,833 25,833