IRIS Accounts Production v24.2.0.383 09076134 director 1.4.23 31.3.24 31.3.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090761342023-03-31090761342024-03-31090761342023-04-012024-03-31090761342022-03-31090761342022-04-012023-03-31090761342023-03-3109076134ns15:EnglandWales2023-04-012024-03-3109076134ns14:PoundSterling2023-04-012024-03-3109076134ns10:Director12023-04-012024-03-3109076134ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109076134ns10:SmallEntities2023-04-012024-03-3109076134ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109076134ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109076134ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109076134ns10:FullAccounts2023-04-012024-03-310907613412023-04-012024-03-3109076134ns10:RegisteredOffice2023-04-012024-03-3109076134ns5:CurrentFinancialInstruments2024-03-3109076134ns5:CurrentFinancialInstruments2023-03-3109076134ns5:Non-currentFinancialInstruments2024-03-3109076134ns5:Non-currentFinancialInstruments2023-03-3109076134ns5:ShareCapital2024-03-3109076134ns5:ShareCapital2023-03-3109076134ns5:RetainedEarningsAccumulatedLosses2024-03-3109076134ns5:RetainedEarningsAccumulatedLosses2023-03-3109076134ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3109076134ns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012024-03-3109076134ns5:LeaseholdImprovements2023-04-012024-03-3109076134ns5:PlantMachinery2023-04-012024-03-3109076134ns5:MotorVehicles2023-04-012024-03-3109076134ns5:PatentsTrademarksLicencesConcessionsSimilar2024-03-3109076134ns5:LeaseholdImprovements2023-03-3109076134ns5:PlantMachinery2023-03-3109076134ns5:MotorVehicles2023-03-3109076134ns5:LeaseholdImprovements2024-03-3109076134ns5:PlantMachinery2024-03-3109076134ns5:MotorVehicles2024-03-3109076134ns5:LeaseholdImprovements2023-03-3109076134ns5:PlantMachinery2023-03-3109076134ns5:MotorVehicles2023-03-3109076134ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3109076134ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3109076134ns5:LeasedAssetsHeldAsLessee2023-03-3109076134ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3109076134ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3109076134ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3109076134ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3109076134ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3109076134ns5:LeasedAssetsHeldAsLessee2024-03-3109076134ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3109076134ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3109076134ns5:LeasedAssetsHeldAsLessee2023-03-3109076134ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3109076134ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-31
REGISTERED NUMBER: 09076134 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Southern Pitts Dairy Ltd

Southern Pitts Dairy Ltd (Registered number: 09076134)






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


Southern Pitts Dairy Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R W Morris





REGISTERED OFFICE: Williamston House
7 Goat Street
Haverfordwest
Pembrokeshire
SA61 1PX





REGISTERED NUMBER: 09076134 (England and Wales)

Southern Pitts Dairy Ltd (Registered number: 09076134)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,453 -
Tangible assets 5 400,766 414,207
402,219 414,207

CURRENT ASSETS
Stocks 491,005 505,172
Debtors 6 82,050 91,583
Cash at bank 8,161 19,836
581,216 616,591
CREDITORS
Amounts falling due within one year 7 308,475 251,365
NET CURRENT ASSETS 272,741 365,226
TOTAL ASSETS LESS CURRENT
LIABILITIES

674,960

779,433

CREDITORS
Amounts falling due after more than one year 8 (114,855 ) (165,222 )

PROVISIONS FOR LIABILITIES (57,045 ) (61,692 )

ACCRUALS AND DEFERRED INCOME (2,287 ) (2,541 )
NET ASSETS 500,773 549,978

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 500,763 549,968
SHAREHOLDERS' FUNDS 500,773 549,978

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 director acknowledges his 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.

Southern Pitts Dairy Ltd (Registered number: 09076134)

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 director and authorised for issue on 18 October 2024 and were signed by:





R W Morris - Director


Southern Pitts Dairy Ltd (Registered number: 09076134)

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

1. STATUTORY INFORMATION

Southern Pitts Dairy 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.

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.

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.

Single Farm Payment are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 20 years
Plant and machinery - 10% 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.

In accordance with FRS102, the Dairy Herd is treated as a biological asset and included in stock at cost.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 1 (2023 - 1 ) .

Southern Pitts Dairy Ltd (Registered number: 09076134)

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

4. INTANGIBLE FIXED ASSETS
Single
Farm
Payment
£   
COST
Additions 1,816
At 31 March 2024 1,816
AMORTISATION
Amortisation for year 363
At 31 March 2024 363
NET BOOK VALUE
At 31 March 2024 1,453

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 119,822 432,703 - 552,525
Additions - 8,900 21,262 30,162
At 31 March 2024 119,822 441,603 21,262 582,687
DEPRECIATION
At 1 April 2023 30,312 108,006 - 138,318
Charge for year 5,991 33,360 4,252 43,603
At 31 March 2024 36,303 141,366 4,252 181,921
NET BOOK VALUE
At 31 March 2024 83,519 300,237 17,010 400,766
At 31 March 2023 89,510 324,697 - 414,207

Southern Pitts Dairy Ltd (Registered number: 09076134)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 189,547 - 189,547
Additions - 21,262 21,262
Transfer to ownership (19,000 ) - (19,000 )
At 31 March 2024 170,547 21,262 191,809
DEPRECIATION
At 1 April 2023 36,930 - 36,930
Charge for year 13,877 4,252 18,129
Transfer to ownership (5,149 ) - (5,149 )
At 31 March 2024 45,658 4,252 49,910
NET BOOK VALUE
At 31 March 2024 124,889 17,010 141,899
At 31 March 2023 152,617 - 152,617

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 48,127 51,123
Other debtors 33,923 40,460
82,050 91,583

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 20,986 21,723
Hire purchase contracts 25,913 33,035
Trade creditors 247,146 152,200
Taxation and social security - 30,240
Other creditors 14,430 14,167
308,475 251,365

Southern Pitts Dairy Ltd (Registered number: 09076134)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 98,982 119,230
Hire purchase contracts 4,444 23,135
Other creditors 11,429 22,857
114,855 165,222

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 41,705 48,633