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Registration number: 03346787

Kellybronze Scotland Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Kellybronze Scotland Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Kellybronze Scotland Limited

Company Information

Directors

P A Kelly

D A Kelly

A Monk


 

Registered office

Springate Farm
Bicknacre Road
Danbury
Essex
CM3 4EP


 

Bankers

The Royal Bank of Scotland
Stewarton Branch
22 Lainshaw Street
Stewarton
KA3 5BU


 

Accountants

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

 

Kellybronze Scotland Limited

(Registration number: 03346787)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

271,251

274,843

Current assets

 

Stocks

5

28,549

25,790

Debtors

6

224,615

141,113

Cash at bank and in hand

 

109,480

212,488

 

362,644

379,391

Creditors: Amounts falling due within one year

7

(84,849)

(84,190)

Net current assets

 

277,795

295,201

Total assets less current liabilities

 

549,046

570,044

Creditors: Amounts falling due after more than one year

7

(279,114)

(161,096)

Provisions for liabilities

(1,476)

(1,531)

Net assets

 

268,456

407,417

Capital and reserves

 

Called up share capital

8

62,529

62,529

Revaluation reserve

75,549

75,549

Retained earnings

130,378

269,339

Shareholders' funds

 

268,456

407,417

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

 

Kellybronze Scotland 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 is: Springate Farm, Bicknacre Road, Danbury, Essex, CM3 4EP.

The principal place of business is: Magbiehill Farm, Dunlop Road, Stewarton, Kilmarnock, KA3 3ES.

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 turkeys, turkey breeding stock and turkey eggs 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.

 

Kellybronze Scotland Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

2

Accounting policies (continued)

Depreciation

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

Asset class

Depreciation method and rate

Land and buildings

not provided

Plant and machinery

10% and 20% reducing balance basis

No depreciation is provided in respect of Land and buildings and is revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the Company's freehold property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, the Directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Share capital

Ordinary shares are classified as equity.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

 

Kellybronze Scotland Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

4

Tangible assets

Land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

250,000

241,300

491,300

At 31 January 2024

250,000

241,300

491,300

Depreciation

At 1 February 2023

-

216,457

216,457

Charge for the year

-

3,592

3,592

At 31 January 2024

-

220,049

220,049

Carrying amount

At 31 January 2024

250,000

21,251

271,251

At 31 January 2023

250,000

24,843

274,843

Included within the net book value of land and buildings above is £250,000 (2023 - £250,000) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

28,549

25,790

6

Debtors

2024
£

2023
£

Trade debtors

-

5,874

Prepayments

784

-

Other debtors

223,831

135,239

224,615

141,113

 

Kellybronze Scotland Limited

Notes to the Financial Statements for the Year Ended 31 January 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

32,668

42,367

Amounts owed to group undertakings

20,000

20,000

Other creditors

20,090

89

Taxation and social security

9,355

18,524

Accruals and deferred income

2,736

3,210

84,849

84,190

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

279,114

161,096

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

62,529

62,529

62,529

62,529