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REGISTERED NUMBER: 03906587 (England and Wales)















Financial Statements for the Year Ended 24 January 2024

for

Hy-Fly Game Hatcheries Limited

Hy-Fly Game Hatcheries Limited (Registered number: 03906587)






Contents of the Financial Statements
for the Year Ended 24 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Hy-Fly Game Hatcheries Limited

Company Information
for the Year Ended 24 January 2024







DIRECTORS: Mr R Holden
Mrs E A Holden
Mr G W Holden
Mr T R Holden
Mr L J Holden





SECRETARY: Mr R Holden





REGISTERED OFFICE: 17-19 Park Street
Lytham
Lancashire
FY8 5LU





REGISTERED NUMBER: 03906587 (England and Wales)





ACCOUNTANTS: Ashworth Treasure Limited
Chartered Accountants
17-19 Park Street
Lytham
Lancashire
FY8 5LU

Hy-Fly Game Hatcheries Limited (Registered number: 03906587)

Abridged Balance Sheet
24 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,267,930 1,060,893
1,267,930 1,060,893

CURRENT ASSETS
Stocks 409,000 248,000
Debtors 1,612,562 827,238
Cash at bank 29,012 553,463
2,050,574 1,628,701
CREDITORS
Amounts falling due within one year 969,932 518,289
NET CURRENT ASSETS 1,080,642 1,110,412
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,348,572

2,171,305

CREDITORS
Amounts falling due after more than one
year

(287,277

)

(275,983

)

PROVISIONS FOR LIABILITIES (257,259 ) (198,304 )
NET ASSETS 1,804,036 1,697,018

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Retained earnings 1,754,036 1,647,018
SHAREHOLDERS' FUNDS 1,804,036 1,697,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 January 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.

Hy-Fly Game Hatcheries Limited (Registered number: 03906587)

Abridged Balance Sheet - continued
24 January 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 24 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 December 2024 and were signed on its behalf by:





Mr G W Holden - Director


Hy-Fly Game Hatcheries Limited (Registered number: 03906587)

Notes to the Financial Statements
for the Year Ended 24 January 2024

1. STATUTORY INFORMATION

Hy-Fly Game Hatcheries 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 purchase of a business in 2000, has been amortised over its expected useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% 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.

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.

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.

Hy-Fly Game Hatcheries Limited (Registered number: 03906587)

Notes to the Financial Statements - continued
for the Year Ended 24 January 2024

2. ACCOUNTING POLICIES - continued

Leased assets and obligations
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.

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 42 (2023 - 40 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 25 January 2023
and 24 January 2024 202,500
AMORTISATION
At 25 January 2023
and 24 January 2024 202,500
NET BOOK VALUE

At 24 January 2024 -
At 24 January 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 25 January 2023 3,960,698
Additions 401,644
Disposals (47,900 )
At 24 January 2024 4,314,442
DEPRECIATION
At 25 January 2023 2,899,805
Charge for year 185,384
Eliminated on disposal (38,677 )
At 24 January 2024 3,046,512
NET BOOK VALUE
At 24 January 2024 1,267,930
At 24 January 2023 1,060,893

Hy-Fly Game Hatcheries Limited (Registered number: 03906587)

Notes to the Financial Statements - continued
for the Year Ended 24 January 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 25 January 2023 494,194
Additions 207,595
Transfer to ownership (173,762 )
At 24 January 2024 528,027
DEPRECIATION
At 25 January 2023 154,618
Charge for year 56,372
Transfer to ownership (63,728 )
At 24 January 2024 147,262
NET BOOK VALUE
At 24 January 2024 380,765
At 24 January 2023 339,576

6. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 86,490 56,781
Between one and five years 187,981 89,259
274,471 146,040

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 274,471 146,040
Other loans 56,668 87,578
331,139 233,618

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 24 January 2024 and 24 January 2023:

2024 2023
£    £   
Mr R Holden
Balance outstanding at start of year 17,139 58,574
Amounts advanced 89,549 71,817
Amounts repaid (117,971 ) (113,252 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (11,283 ) 17,139

Hy-Fly Game Hatcheries Limited (Registered number: 03906587)

Notes to the Financial Statements - continued
for the Year Ended 24 January 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr L J Holden
Balance outstanding at start of year 144,122 146,785
Amounts advanced 84,287 45,522
Amounts repaid (47,845 ) (48,185 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 180,564 144,122

Mr G W Holden
Balance outstanding at start of year 105,204 110,038
Amounts advanced 37,011 43,351
Amounts repaid (47,845 ) (48,185 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,370 105,204

Interest was charged at the official rate of interest where appropriate.
During the year the company leased various land and buildings from a partnership controlled by the directors at a cost of £130,000, (2023: £130,000).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party throughout the year was Mr R Holden.