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COMPANY REGISTRATION NUMBER: 09002204
Sevenacres Livestock Ltd
Unaudited Financial Statements
30 April 2024
Sevenacres Livestock Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Director's report
1
Statement of comprehensive income
2
Statement of financial position
3
Statement of changes in equity
5
Notes to the financial statements
6
Sevenacres Livestock Ltd
Director's Report
Year ended 30 April 2024
The director presents his report and the unaudited financial statements of the company for the year ended 30 April 2024 .
Director
The director who served the company during the year was as follows:
Mr G B Anderson
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 29 January 2025 and signed on behalf of the board by:
Mr G B Anderson
Director
Registered office:
7 Moorhead Lane
Saltaire
Shipley
West Yorkshire
BD16 4AQ
Sevenacres Livestock Ltd
Statement of Comprehensive Income
Year ended 30 April 2024
2024
2023
Note
£
£
Turnover
56,290
90,964
Cost of sales
12,125
65,619
--------
--------
Gross profit
44,165
25,345
Administrative expenses
37,988
25,967
--------
--------
Operating profit/(loss)
6,177
( 622)
Interest payable and similar expenses
844
457
--------
--------
Profit/(loss) before taxation
4
5,333
( 1,079)
Tax on profit/(loss)
3,959
355
-------
-------
Profit/(loss) for the financial year and total comprehensive income
1,374
( 1,434)
-------
-------
All the activities of the company are from continuing operations.
Sevenacres Livestock Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
40,152
8,835
Current assets
Stocks
27,157
16,300
Debtors
6
843
2,598
Cash at bank and in hand
13,703
--------
--------
28,000
32,601
Creditors: amounts falling due within one year
7
43,289
33,956
--------
--------
Net current liabilities
15,289
1,355
--------
-------
Total assets less current liabilities
24,863
7,480
Creditors: amounts falling due after more than one year
8
45,632
29,623
--------
--------
Net liabilities
( 20,769)
( 22,143)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 20,770)
( 22,144)
--------
--------
Shareholders deficit
( 20,769)
( 22,143)
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Sevenacres Livestock Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr G B Anderson
Director
Company registration number: 09002204
Sevenacres Livestock Ltd
Statement of Changes in Equity
Year ended 30 April 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 1 May 2022
1
( 20,710)
( 20,709)
Loss for the year
( 1,434)
( 1,434)
----
--------
--------
Total comprehensive income for the year
( 1,434)
( 1,434)
At 30 April 2023
1
( 22,144)
( 22,143)
Profit for the year
1,374
1,374
----
--------
--------
Total comprehensive income for the year
1,374
1,374
----
--------
--------
At 30 April 2024
1
( 20,770)
( 20,769)
----
--------
--------
Sevenacres Livestock Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Moorhead Lane, Saltaire, Shipley, West Yorkshire, BD16 4AQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
20,952
2,945
--------
-------
5. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
30,788
30,788
Additions
22,000
30,269
52,269
--------
--------
--------
At 30 April 2024
52,788
30,269
83,057
--------
--------
--------
Depreciation
At 1 May 2023
21,953
21,953
Charge for the year
7,709
13,243
20,952
--------
--------
--------
At 30 April 2024
29,662
13,243
42,905
--------
--------
--------
Carrying amount
At 30 April 2024
23,126
17,026
40,152
--------
--------
--------
At 30 April 2023
8,835
8,835
--------
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
843
2,598
----
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
36,691
30,962
Corporation tax
3,958
354
Other creditors
2,640
2,640
--------
--------
43,289
33,956
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
45,632
29,623
--------
--------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr G B Anderson
( 29,623)
( 3,000)
( 32,623)
--------
-------
--------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr G B Anderson
----
----
----