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REGISTERED NUMBER: 07248429 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Buttercup Poultry Limited

Buttercup Poultry Limited (Registered number: 07248429)






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


Buttercup Poultry Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: A S L Lewis
Mrs D J Lewis
T B Lewis





REGISTERED OFFICE: Caerwyn Jones Chartered Accountants
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG





REGISTERED NUMBER: 07248429 (England and Wales)





ACCOUNTANTS: WR Partners
Chartered Accountants
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

Buttercup Poultry Limited (Registered number: 07248429)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,586,366 2,611,713
Investments 6 100 100
2,586,466 2,611,813

CURRENT ASSETS
Stocks 212,033 3,000
Debtors 7 257,962 638,396
Cash at bank 77,742 120,912
547,737 762,308
CREDITORS
Amounts falling due within one year 8 327,122 550,966
NET CURRENT ASSETS 220,615 211,342
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,807,081

2,823,155

CREDITORS
Amounts falling due after more than
one year

9

(1,333,327

)

(1,534,527

)

PROVISIONS FOR LIABILITIES (47,822 ) (39,523 )
NET ASSETS 1,425,932 1,249,105

Buttercup Poultry Limited (Registered number: 07248429)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,425,832 1,249,005
1,425,932 1,249,105

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.

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 25 October 2024 and were signed on its behalf by:





A S L Lewis - Director


Buttercup Poultry Limited (Registered number: 07248429)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Buttercup Poultry 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.

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 2010, 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 - 10% on reducing balance
Plant and machinery etc - 10% or 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Buttercup Poultry Limited (Registered number: 07248429)

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.

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 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 400,000
AMORTISATION
At 1 April 2023
and 31 March 2024 400,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Buttercup Poultry Limited (Registered number: 07248429)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Freehold Short Plant and Motor
property leasehold machinery vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 2,125,065 332,312 951,124 1,395 3,409,896
Additions - - 32,590 - 32,590
Disposals - - (1,500 ) - (1,500 )
At 31 March 2024 2,125,065 332,312 982,214 1,395 3,440,986
DEPRECIATION
At 1 April 2023 - 141,313 656,312 558 798,183
Charge for year - 19,100 37,170 167 56,437
At 31 March 2024 - 160,413 693,482 725 854,620
NET BOOK VALUE
At 31 March 2024 2,125,065 171,899 288,732 670 2,586,366
At 31 March 2023 2,125,065 190,999 294,812 837 2,611,713

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

Buttercup Poultry Limited (Registered number: 07248429)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Cwmllechwedd Fawr Cyfyngedig
Registered office: Wales
Nature of business: Holiday lets
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves (28,852 ) (27,781 )
(Loss)/profit for the year (1,071 ) 6,770

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 163,083 553,200
Amounts owed by group undertakings 54,262 63,498
Other debtors 40,617 21,698
257,962 638,396

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 87,057 113,122
Trade creditors 206,946 414,686
Taxation and social security 25,739 11,816
Other creditors 7,380 11,342
327,122 550,966

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,333,327 1,534,527

Buttercup Poultry Limited (Registered number: 07248429)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,420,384 1,647,649

The bank loans and overdraft facility are secured by fixed and floating charges over the company's assets, which were entered into on 17.04.2012, 26.3.2013, 14.04.2014 as well as 23.10.2015.

The charge entered into on 14.04.2024 was satisfied in full on 21.05.2024.

11. RELATED PARTY DISCLOSURES

During the year rent of £120,000 (2023 - £120,000) and management charges of £30,000 (2023 - £Nil) were paid to A S L and Mrs D J Lewis, a farming partnership run by the directors of the company.

Included in debtors due within one year is an amount of £159,798 (2023 - £67,798) due from A S L and Mrs D J Lewis.

Included in debtors due within one year is an amount of £8,855 (2023 - Creditors : £4,254) due from the directors of the company. This balance is repayable on demand. No interest was charged on this loan in the year

Also included in debtors due within one year is an amount of £54,262 (2023 - £63,498) due from Cwmllechwedd Fawr Cyfyngedig, a wholly owned subsidiary of Buttercup Poultry Limited.

During the year dividends of £2,000 (2023 - £8,000) were paid out by the company and received by the directors of the company.

12. ULTIMATE CONTROLLING PARTY

AS L and Mrs D J Lewis control the company owning 100% of the issued share capital.