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REGISTERED NUMBER: 11371428 (England and Wales)















CHEAP FEEDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






CHEAP FEEDS LIMITED (REGISTERED NUMBER: 11371428)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 4


CHEAP FEEDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs C M Norris-Smith
A Smith



REGISTERED OFFICE: Unit 7
Staunton Industrial
Staunton in The Vale
Newark
Nottinghamshire
NG13 9QB



REGISTERED NUMBER: 11371428 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



BANKERS: Lloyds Bank plc
12-16 Lower Parliament Street
Nottingham
Nottinghamshire
NG1 3DA

CHEAP FEEDS LIMITED (REGISTERED NUMBER: 11371428)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 21,305 7,950
Debtors 4 496,889 131,351
Cash at bank 97,371 352,153
615,565 491,454
CREDITORS
Amounts falling due within one year 5 479,012 293,803
NET CURRENT ASSETS 136,553 197,651
TOTAL ASSETS LESS CURRENT LIABILITIES 136,553 197,651

CREDITORS
Amounts falling due after more than one year 6 11,667 20,833
NET ASSETS 124,886 176,818

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 124,786 176,718
SHAREHOLDERS' FUNDS 124,886 176,818

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mrs C M Norris-Smith - Director


CHEAP FEEDS LIMITED (REGISTERED NUMBER: 11371428)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Cheap Feeds 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 represents the fair value of consideration received for net invoiced sales of animal feed, excluding value added tax. Sales are recognised upon the date of delivery to the customer or upon collection by the customer.

Stocks
Stocks are valued at the lower of cost and fair value less costs to sell, 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 20,611 84,713
Amounts owed by group undertakings - 41,807
Other debtors and prepayments 476,278 4,831
496,889 131,351

CHEAP FEEDS LIMITED (REGISTERED NUMBER: 11371428)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 23,712 19,250
Amounts owed to group undertakings 376,302 229,900
Taxation 66,648 32,453
Accrued expenses 2,350 2,200
479,012 293,803

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 1,667 10,833
11,667 20,833

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

8. POST BALANCE SHEET EVENTS

Subsequent to the year end, dividends of £50,000 were declared by the directors.