Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29false2023-03-01falseNo description of principal activity9375trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04721026 2023-03-01 2024-02-29 04721026 2022-03-01 2023-02-28 04721026 2024-02-29 04721026 2023-02-28 04721026 c:Director2 2023-03-01 2024-02-29 04721026 d:PlantMachinery 2023-03-01 2024-02-29 04721026 d:PlantMachinery 2024-02-29 04721026 d:PlantMachinery 2023-02-28 04721026 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04721026 d:MotorVehicles 2023-03-01 2024-02-29 04721026 d:MotorVehicles 2024-02-29 04721026 d:MotorVehicles 2023-02-28 04721026 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04721026 d:FurnitureFittings 2023-03-01 2024-02-29 04721026 d:FurnitureFittings 2024-02-29 04721026 d:FurnitureFittings 2023-02-28 04721026 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04721026 d:OtherPropertyPlantEquipment 2023-03-01 2024-02-29 04721026 d:OtherPropertyPlantEquipment 2024-02-29 04721026 d:OtherPropertyPlantEquipment 2023-02-28 04721026 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04721026 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 04721026 d:CurrentFinancialInstruments 2024-02-29 04721026 d:CurrentFinancialInstruments 2023-02-28 04721026 d:Non-currentFinancialInstruments 2024-02-29 04721026 d:Non-currentFinancialInstruments 2023-02-28 04721026 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 04721026 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 04721026 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 04721026 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 04721026 d:ShareCapital 2024-02-29 04721026 d:ShareCapital 2023-02-28 04721026 d:RetainedEarningsAccumulatedLosses 2024-02-29 04721026 d:RetainedEarningsAccumulatedLosses 2023-02-28 04721026 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 04721026 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 04721026 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 04721026 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 04721026 c:FRS102 2023-03-01 2024-02-29 04721026 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 04721026 c:FullAccounts 2023-03-01 2024-02-29 04721026 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04721026 2 2023-03-01 2024-02-29 04721026 4 2024-02-29 04721026 4 2023-02-28 04721026 f:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 04721026










THE ESSEX PIG COMPANY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
THE ESSEX PIG COMPANY LTD
REGISTERED NUMBER: 04721026

STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,817,237
862,367

Investments
 5 
50
50

  
1,817,287
862,417

Current assets
  

Stocks
  
146,794
100,371

Debtors: amounts falling due within one year
 6 
162,986
171,631

Cash at bank and in hand
  
50,459
157,756

  
360,239
429,758

Creditors: amounts falling due within one year
 7 
(1,180,378)
(684,469)

Net current liabilities
  
 
 
(820,139)
 
 
(254,711)

Total assets less current liabilities
  
997,148
607,706

Creditors: amounts falling due after more than one year
 8 
(402,809)
(30,833)

Provisions for liabilities
  

Deferred tax
 9 
(265,352)
(189,676)

  
 
 
(265,352)
 
 
(189,676)

Net assets
  
328,987
387,197


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
328,887
387,097

  
328,987
387,197


Page 1

 
THE ESSEX PIG COMPANY LTD
REGISTERED NUMBER: 04721026
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M Doherty
Director

Date: 10 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The Essex Pig Company Limited is a private limited company by shares and incorporated in England and Wales, registration number 04721026. The registered office is 1 Claydon Business Park, Great Blakenham, Ipswich, IP6 0NL

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
5-25% straight line
Other fixed assets
-
5-20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 93 (2023 - 75).

Page 6

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Fixtures and fittings
Other fixed assets
Total

£
£
£
£
£



Cost or valuation


At 1 March 2023
108,786
56,599
438,994
816,352
1,420,731


Additions
6,500
-
54,287
994,146
1,054,933



At 29 February 2024

115,286
56,599
493,281
1,810,498
2,475,664



Depreciation


At 1 March 2023
49,746
14,056
241,869
252,693
558,364


Charge for the year on owned assets
6,591
13,601
31,868
48,003
100,063



At 29 February 2024

56,337
27,657
273,737
300,696
658,427



Net book value



At 29 February 2024
58,949
28,942
219,544
1,509,802
1,817,237



At 28 February 2023
59,040
42,543
197,125
563,659
862,367


5.


Fixed asset investments








Investment

£





At 1 March 2023
50






Net book value



At 29 February 2024
50



At 28 February 2023
50

Page 7

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
104,718
125,160

Amounts owed by group undertakings
19,866
7,568

Other debtors
9,593
8,980

Prepayments and accrued income
28,809
29,923

162,986
171,631



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank overdrafts
24,550
-

Bank loans
61,781
10,000

Trade creditors
127,967
131,754

Amounts owed to group undertakings
354,612
121,287

Other taxation and social security
201,521
117,583

Other creditors
68,202
65,557

Accruals and deferred income
341,745
238,288

1,180,378
684,469


Page 8

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
315,063
30,833

Amounts owed to group undertakings
80,246
-

Other creditors
7,500
-

402,809
30,833


The bank loans shown above are secured with fixed and floating charges over company and private assets.

The aggregate amount of liabilities repayable wholly or in part more than five years after the reporting date is:

29 February
28 February
2024
2023
£
£


Repayable by instalments
38,429
-

38,429
-



Page 9

 
THE ESSEX PIG COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Deferred taxation






2024


£






At beginning of year
(189,676)


Charged to profit or loss
(75,676)



At end of year
(265,352)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(344,485)
(193,370)

Tax losses carried forward
79,133
3,694

(265,352)
(189,676)


10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £22,851 (2023: £16,996). Contributions totalling £4,958 (2023: £4,113) were payable to the fund at the year end and are included in creditors.

 
Page 10