Kelly Hatcheries Limited 01143253 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is in the year under review was that of the purchase of turkey hatching eggs and the sale of day old poults Digita Accounts Production Advanced 6.30.9574.0 true 01143253 2023-02-01 2024-01-31 01143253 2024-01-31 01143253 bus:OrdinaryShareClass1 2024-01-31 01143253 bus:OrdinaryShareClass2 2024-01-31 01143253 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-01-31 01143253 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-01-31 01143253 core:CurrentFinancialInstruments 2024-01-31 01143253 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 01143253 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 01143253 core:MotorVehicles 2024-01-31 01143253 core:OtherPropertyPlantEquipment 2024-01-31 01143253 bus:SmallEntities 2023-02-01 2024-01-31 01143253 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 01143253 bus:FilletedAccounts 2023-02-01 2024-01-31 01143253 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 01143253 bus:RegisteredOffice 2023-02-01 2024-01-31 01143253 bus:Director2 2023-02-01 2024-01-31 01143253 bus:Director4 2023-02-01 2024-01-31 01143253 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 01143253 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 01143253 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01143253 bus:Agent1 2023-02-01 2024-01-31 01143253 core:MotorVehicles 2023-02-01 2024-01-31 01143253 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 01143253 countries:AllCountries 2023-02-01 2024-01-31 01143253 2023-01-31 01143253 core:MotorVehicles 2023-01-31 01143253 core:OtherPropertyPlantEquipment 2023-01-31 01143253 2022-02-01 2023-01-31 01143253 2023-01-31 01143253 bus:OrdinaryShareClass1 2023-01-31 01143253 bus:OrdinaryShareClass2 2023-01-31 01143253 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-01-31 01143253 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-01-31 01143253 core:CurrentFinancialInstruments 2023-01-31 01143253 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 01143253 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 01143253 core:MotorVehicles 2023-01-31 01143253 core:OtherPropertyPlantEquipment 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01143253

Kelly Hatcheries Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Kelly Hatcheries Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Kelly Hatcheries Limited

Company Information

Directors

P A Kelly

D A Kelly

Registered office

Springate Farm
Bicknacre Road
Danbury
Essex
CM3 4EP

Bankers

HSBC Bank plc
72 High Street
Maldon
Essex
CM9 7ET

Accountants

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Kelly Hatcheries Limited

(Registration number: 01143253)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

276,356

225,639

Current assets

 

Stocks

5

25,560

20,658

Debtors

6

2,877,158

2,194,001

Cash at bank and in hand

 

1,018,190

1,267,683

 

3,920,908

3,482,342

Creditors: Amounts falling due within one year

7

(3,187,144)

(2,719,684)

Net current assets

 

733,764

762,658

Total assets less current liabilities

 

1,010,120

988,297

Creditors: Amounts falling due after more than one year

7

-

(15,362)

Provisions for liabilities

(66,290)

(52,538)

Net assets

 

943,830

920,397

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

943,730

920,297

Shareholders' funds

 

943,830

920,397

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 

P A Kelly
Director

 

Kelly Hatcheries Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and principal place of business is: Springate Farm, Bicknacre Road, Danbury, Essex, CM3 4EP.

These financial statements were authorised for issue by the Board on 27 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of turkey eggs and day old turkey poults to customers. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% Reducing balance basis

Motor vehicles

25% Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

 

Kelly Hatcheries Limited

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

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for goods sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the amortised cost method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are paid.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 43 (2023 - 40).

 

Kelly Hatcheries Limited

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

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

276,422

1,143,449

1,419,871

Additions

83,476

54,399

137,875

Disposals

(39,144)

-

(39,144)

At 31 January 2024

320,754

1,197,848

1,518,602

Depreciation

At 1 February 2023

186,923

1,007,309

1,194,232

Charge for the year

33,464

27,343

60,807

Eliminated on disposal

(12,793)

-

(12,793)

At 31 January 2024

207,594

1,034,652

1,242,246

Carrying amount

At 31 January 2024

113,160

163,196

276,356

At 31 January 2023

89,499

136,140

225,639

5

Stocks

2024
£

2023
£

Stocks

25,560

20,658

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

234,332

61,673

Directors loan accounts

-

394

Other debtors

 

2,637,228

2,129,748

Prepayments

 

5,598

2,186

 

2,877,158

2,194,001

 

Kelly Hatcheries Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

15,425

45,115

Loans and borrowings

9

15,362

12,047

Taxation and social security

 

141,867

153,784

Other creditors

 

3,005,320

2,492,149

Accruals and deferred income

 

9,170

16,589

 

3,187,144

2,719,684

Creditors falling due within one year include net obligations under hire purchase contracts which are secured of £15,362 (2023 - £12,047).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

15,362


Creditors falling due after more than one year include net obligations under hire purchase contracts which are secured of £nil (2023 - £15,362).

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

74

74

74

74

Ordinary B shares of £1 each

26

26

26

26

100

100

100

100

 

Kelly Hatcheries Limited

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

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

15,362

12,047

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

15,362