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REGISTERED NUMBER: NI671183 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Glenhoy Poultry Limited

Glenhoy Poultry Limited (Registered number: NI671183)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glenhoy Poultry Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs A Robson
Mr J Robson





REGISTERED OFFICE: 27 Glenhoy Road
AUGHER
Co. Tyrone
BT77 0DG





REGISTERED NUMBER: NI671183 (Northern Ireland)





ACCOUNTANTS: Gildernew & Co Ltd
Six Northland Row
DUNGANNON
Co. Tyrone
BT71 6AW

Glenhoy Poultry Limited (Registered number: NI671183)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 145,000 -
Tangible assets 5 2,665,401 1,802,508
2,810,401 1,802,508

CURRENT ASSETS
Stocks 302,496 408,267
Debtors 6 611,374 269,390
Cash at bank 178,914 5,428
1,092,784 683,085
CREDITORS
Amounts falling due within one year 7 1,727,005 594,488
NET CURRENT (LIABILITIES)/ASSETS (634,221 ) 88,597
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,176,180

1,891,105

CREDITORS
Amounts falling due after more than one
year

8

1,759,399

1,743,714
NET ASSETS 416,781 147,391

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 416,681 147,291
416,781 147,391

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

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

Glenhoy Poultry Limited (Registered number: NI671183)

Balance Sheet - continued
31 March 2024


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 15 October 2024 and were signed on its behalf by:





Mrs A Robson - Director


Glenhoy Poultry Limited (Registered number: NI671183)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Glenhoy Poultry Limited is a private company, limited by shares , registered in Northern Ireland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten 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.
Land and buildings - 5% on cost
Plant and machinery etc - 33% on cost, 20% reducing balance and 15% reducing balance

Buildings are to be depreciated evenly over their estimated useful life, beginning once they
become available for use.

No depreciation is charged on land.

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.


Glenhoy Poultry Limited (Registered number: NI671183)

Notes to the Financial Statements - continued
for the Year Ended 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 150,000
At 31 March 2024 150,000
AMORTISATION
Charge for year 5,000
At 31 March 2024 5,000
NET BOOK VALUE
At 31 March 2024 145,000

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 1,581,207 420,169 37,974 4,522 2,043,872
Additions 763,500 300,628 17,250 - 1,081,378
At 31 March 2024 2,344,707 720,797 55,224 4,522 3,125,250
DEPRECIATION
At 1 April 2023 114,310 110,959 13,671 2,424 241,364
Charge for year 117,236 91,476 8,310 1,463 218,485
At 31 March 2024 231,546 202,435 21,981 3,887 459,849
NET BOOK VALUE
At 31 March 2024 2,113,161 518,362 33,243 635 2,665,401
At 31 March 2023 1,466,897 309,210 24,303 2,098 1,802,508

Glenhoy Poultry Limited (Registered number: NI671183)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 299,637 257,687
Amounts owed by related parties 285,075 -
Other debtors 26,662 11,703
611,374 269,390

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 88,169 141,281
Hire purchase contracts 20,679 28,856
Trade creditors 192,372 273,025
Social security and other taxes 1,371 -
Other creditors 1,422,664 138,826
Accrued expenses 1,750 12,500
1,727,005 594,488

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 1,117,444 1,129,485
Hire purchase contracts 16,414 22,426
Directors' loan accounts 625,541 591,803
1,759,399 1,743,714