Company Registration No. 10404214 (England and Wales)
VINNALS POULTRY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
VINNALS POULTRY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
VINNALS POULTRY LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,836,824
1,737,787
Current assets
Stocks
120,544
15,000
Debtors
4
459,043
505,443
Cash at bank and in hand
103,919
125,114
683,506
645,557
Creditors: amounts falling due within one year
5
(638,680)
(517,360)
Net current assets
44,826
128,197
Total assets less current liabilities
1,881,650
1,865,984
Creditors: amounts falling due after more than one year
6
(1,221,197)
(1,358,060)
Provisions for liabilities
(74,469)
(115,748)
Net assets
585,984
392,176
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
585,884
392,076
Total equity
585,984
392,176
VINNALS POULTRY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 2 -

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

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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 29 January 2025 and are signed on its behalf by:
Mr AM Davies
Mr CJ Davies
Director
Director
Mrs LM Davies
Mr SC Davies
Director
Director
Company registration number 10404214 (England and Wales)
VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 3 -
1
Accounting policies
Company information

Vinnals Poultry Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Knights Court, Archers Way, Battlefield Enterprise Park, Shrewsbury, SY1 3GA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
5% reducing balance
Plant and equipment
5% reducing balance
Motor vehicles

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
5
VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
3
Tangible fixed assets
Leasehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
828,700
1,425,238
-
0
2,253,938
Additions
5,061
187,143
4,450
196,654
At 31 May 2024
833,761
1,612,381
4,450
2,450,592
Depreciation and impairment
At 1 June 2023
206,668
309,483
-
0
516,151
Depreciation charged in the year
31,355
65,149
1,113
97,617
At 31 May 2024
238,023
374,632
1,113
613,768
Carrying amount
At 31 May 2024
595,738
1,237,749
3,337
1,836,824
At 31 May 2023
622,032
1,115,755
-
0
1,737,787
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
447,168
457,561
Corporation tax recoverable
-
0
22,707
Other debtors
2,848
21,092
Prepayments and accrued income
9,027
4,083
459,043
505,443
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
133,561
130,259
Other borrowings
3,393
-
0
Trade creditors
392,856
383,009
Taxation and social security
1,926
1,393
Accruals and deferred income
106,944
2,699
638,680
517,360
VINNALS POULTRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
1,221,197
1,358,060

 

The bank borrowing is secured by a charge over property owned by some of the directors.

7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
8
Directors' transactions

Dividends totalling £16,000 (2023 - £0) were paid in the year in respect of shares held by the company's directors.

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