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REGISTERED NUMBER: 04117779 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Penswick Poultry Limited

Penswick Poultry Limited (Registered number: 04117779)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Penswick Poultry Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr J F Penswick
Mrs S H Penswick





SECRETARY: Mrs S H Penswick





REGISTERED OFFICE: Beechgrove Farm
Greenhalgh
Kirkham
Preston
Lancashire
PR4 3HE





REGISTERED NUMBER: 04117779 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

Penswick Poultry Limited (Registered number: 04117779)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 544,306 553,373

CURRENT ASSETS
Stocks 1,200 1,200
Debtors 5 189,495 163,468
Cash at bank 72,808 68,519
263,503 233,187
CREDITORS
Amounts falling due within one year 6 144,061 153,988
NET CURRENT ASSETS 119,442 79,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

663,748

632,572

CREDITORS
Amounts falling due after more than one
year

7

(15,000

)

(37,333

)

PROVISIONS FOR LIABILITIES (34,589 ) (31,459 )
NET ASSETS 614,159 563,780

CAPITAL AND RESERVES
Called up share capital 610 610
Retained earnings 613,549 563,170
SHAREHOLDERS' FUNDS 614,159 563,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Penswick Poultry Limited (Registered number: 04117779)

Statement of Financial Position - continued
31 July 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 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 19 December 2024 and were signed on its behalf by:





Mr J F Penswick - Director


Penswick Poultry Limited (Registered number: 04117779)

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


1. STATUTORY INFORMATION

Penswick Poultry 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 5% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 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 ) .

Penswick Poultry Limited (Registered number: 04117779)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2023 401,450 359,076 760,526
Additions - 8,150 8,150
At 31 July 2024 401,450 367,226 768,676
DEPRECIATION
At 1 August 2023 4,487 202,666 207,153
Charge for year 641 16,576 17,217
At 31 July 2024 5,128 219,242 224,370
NET BOOK VALUE
At 31 July 2024 396,322 147,984 544,306
At 31 July 2023 396,963 156,410 553,373

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 93,771 92,836
Other debtors 12,165 -
S455 debtor 16,290 16,290
Intercompany loan 60,000 -
Directors' loan accounts - 48,269
VAT 6,250 4,802
Prepayments 1,019 1,271
189,495 163,468

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other loans 10,000 10,000
Hire purchase contracts 12,333 12,333
Trade creditors 78,694 85,419
Tax 18,169 34,136
Directors' loan accounts 13,339 -
Accrued expenses 11,526 12,100
144,061 153,988

Penswick Poultry Limited (Registered number: 04117779)

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


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Other loans - 1-2 years 10,000 10,000
Other loans - 2-5 years 5,000 15,000
Hire purchase contracts - 12,333
15,000 37,333

8. SECURED DEBTS

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from National Westminster Bank PLC in the year.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mr J F Penswick and Mrs S H Penswick
Balance outstanding at start of year 48,269 (3,796 )
Amounts advanced 1,392 73,065
Amounts repaid (63,000 ) (21,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (13,339 ) 48,269

The directors loan is an interest free loan and is repayable upon demand.