Company No:
Contents
Note | 31.12.2024 | 31.12.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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436,827 | 359,506 | |||
Current assets | ||||
Stocks | 4, 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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543,002 | 378,103 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets/(liabilities) | 304,760 | (9,497) | ||
Total assets less current liabilities | 741,587 | 350,009 | ||
Creditors: amounts falling due after more than one year | 8 | (
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Provision for liabilities | (
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Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds/(deficit) |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Devon & Somerset Eggs Ltd (registered number:
C S James
Director |
A L Lampitt
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Devon & Somerset Eggs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. 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.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Leasehold improvements |
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Plant and machinery |
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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.
There is a breakdown of the movement within the current biological asset note.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
Also included in stock are current biological assets consisting of poultry.
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.
Accrued income represents amounts due from customers for merchandise sold or services performed in the ordinary course of business and is recognised at the transaction price.
liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Year ended 31.12.2024 |
Period from 04.01.2023 to 31.12.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Leasehold improve- ments |
Plant and machinery | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 January 2024 |
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Additions |
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Disposals |
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At 31 December 2024 |
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Accumulated depreciation | |||||
At 01 January 2024 |
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Charge for the financial year |
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At 31 December 2024 |
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Net book value | |||||
At 31 December 2024 |
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At 31 December 2023 |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Stocks |
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Livestock |
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Assets held at cost:
Poultry | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2024 | 150,447 | 150,447 | |
Increase due to purchases/ transfers in | 39,045 | 39,045 | |
At 31 December 2024 | 189,492 | 189,492 | |
31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Trade debtors |
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Other taxation and social security |
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Other debtors |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Other creditors |
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31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Bank loans |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
31.12.2024 | 31.12.2023 | ||
£ | £ | ||
Bank loans |
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