Company registration number 01233131 (England and Wales)
FEEDWELL ANIMAL FOODS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
FEEDWELL ANIMAL FOODS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
FEEDWELL ANIMAL FOODS LTD
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
603,003
590,297
Current assets
Stocks
135,740
120,902
Debtors
5
458,473
418,615
Cash at bank and in hand
5,017
583
599,230
540,100
Creditors: amounts falling due within one year
4
(612,990)
(626,780)
Net current liabilities
(13,760)
(86,680)
Total assets less current liabilities
589,243
503,617
Creditors: amounts falling due after more than one year
6
(168,336)
(186,098)
Provisions for liabilities
(126,811)
(69,673)
Net assets
294,096
247,846
Capital and reserves
Called up share capital
7
2,026
2,026
Revaluation reserve
8
157,489
157,489
Capital redemption reserve
9
1,001
1,001
Profit and loss reserves
133,580
87,330
Total equity
294,096
247,846

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

FEEDWELL ANIMAL FOODS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 November 2024 and are signed on its behalf by:
Mrs V R Dobbin
Director
Company registration number 01233131 (England and Wales)
FEEDWELL ANIMAL FOODS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Feedwell Animal Foods Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Ashcroft Cameron, Unit 6, The Mead Business Centre, Hertford, Herts, SG13 7BJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
4% straight line
Plant and machinery
10% straight line
Fixtures, fittings & equipment
25% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.6
Taxation

The tax charge represents the sum of the tax currently payable and deferred tax.

FEEDWELL ANIMAL FOODS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

 

Grants relating to specific capital purchases are recorded as a reduction in the cost of the relevant asset.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
18
14
FEEDWELL ANIMAL FOODS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 August 2023
200,000
738,803
17,811
219,839
1,176,453
Additions
17,850
96,257
16,527
-
0
130,634
Disposals
-
0
(1,674)
-
0
(8,300)
(9,974)
At 31 July 2024
217,850
833,386
34,338
211,539
1,297,113
Depreciation and impairment
At 1 August 2023
126,886
321,454
17,291
120,527
586,158
Depreciation charged in the year
8,714
78,441
4,466
24,336
115,957
Eliminated in respect of disposals
-
0
(1,674)
-
0
(6,331)
(8,005)
At 31 July 2024
135,600
398,221
21,757
138,532
694,110
Carrying amount
At 31 July 2024
82,250
435,165
12,581
73,007
603,003
At 31 July 2023
73,114
417,349
520
99,314
590,297
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
252,365
267,803
Trade creditors
242,024
216,572
Corporation tax
2,815
-
0
Other taxation and social security
13,630
7,916
Other creditors
102,156
134,489
612,990
626,780
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
446,228
401,560
VAT
5,250
14,458
Prepayments and accrued income
6,995
2,597
458,473
418,615
FEEDWELL ANIMAL FOODS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
59,106
68,992
Hire purchase obligations
109,230
117,106
168,336
186,098
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
2,002 Ordinary shares of £1 each
2,002
2,002
2,002
2,002
Preference share capital
Issued and fully paid
24 Preference shares of £1 each
24
24
24
24
8
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
157,489
157,489
9
Capital redemption reserve
2024
2023
£
£
At the beginning and end of the year
1,001
1,001
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