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REGISTERED NUMBER: 09520803 (England and Wales)












LINCOLNSHIRE GAME LTD

FINANCIAL STATEMENTS

FOR THE PERIOD 29 MARCH 2023 TO 27 MARCH 2024






LINCOLNSHIRE GAME LTD (REGISTERED NUMBER: 09520803)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 MARCH 2023 TO 27 MARCH 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LINCOLNSHIRE GAME LTD

COMPANY INFORMATION
FOR THE PERIOD 29 MARCH 2023 TO 27 MARCH 2024







DIRECTORS: T Kirk
S Wilkinson





SECRETARY: T Kirk





REGISTERED OFFICE: The Steyning
Swineshead
Boston
Lincolnshire
PE20 3NQ





REGISTERED NUMBER: 09520803 (England and Wales)





ACCOUNTANTS: Dexter & Sharpe
Chartered Certified Accountants
The Old Vicarage
Church Close
Boston
Lincolnshire
PE21 6NA

LINCOLNSHIRE GAME LTD (REGISTERED NUMBER: 09520803)

ABRIDGED BALANCE SHEET
27 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 491,749 574,391

CURRENT ASSETS
Stocks 712,021 1,043,000
Debtors 71,937 70,276
Cash at bank and in hand 2,964 4,881
786,922 1,118,157
CREDITORS
Amounts falling due within one year 903,254 745,609
NET CURRENT (LIABILITIES)/ASSETS (116,332 ) 372,548
TOTAL ASSETS LESS CURRENT
LIABILITIES

375,417

946,939

CREDITORS
Amounts falling due after more than one
year

4

780,241

660,698
NET (LIABILITIES)/ASSETS (404,824 ) 286,241

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (404,844 ) 286,221
SHAREHOLDERS' FUNDS (404,824 ) 286,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LINCOLNSHIRE GAME LTD (REGISTERED NUMBER: 09520803)

ABRIDGED BALANCE SHEET - continued
27 MARCH 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the period ended 27 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:




T Kirk - Director



S Wilkinson - Director


LINCOLNSHIRE GAME LTD (REGISTERED NUMBER: 09520803)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 MARCH 2023 TO 27 MARCH 2024


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Long leasehold - Straight line over 15 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

LINCOLNSHIRE GAME LTD (REGISTERED NUMBER: 09520803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2023 TO 27 MARCH 2024


2. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 34 (2023 - 25 ) .

3. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 29 March 2023 1,352,547
Additions 11,313
Disposals (22,945 )
Transfer to ownership 88,225
At 27 March 2024 1,429,140
DEPRECIATION
At 29 March 2023 778,156
Charge for period 88,510
Eliminated on disposal (17,500 )
Transfer to ownership 88,225
At 27 March 2024 937,391
NET BOOK VALUE
At 27 March 2024 491,749
At 28 March 2023 574,391

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 29 March 2023 351,409
Transfer to ownership (54,845 )
At 27 March 2024 296,564
DEPRECIATION
At 29 March 2023 165,050
Charge for period 29,847
Transfer to ownership (8,226 )
At 27 March 2024 186,671
NET BOOK VALUE
At 27 March 2024 109,893
At 28 March 2023 186,359

LINCOLNSHIRE GAME LTD (REGISTERED NUMBER: 09520803)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 MARCH 2023 TO 27 MARCH 2024


4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Bank loans more 5 yr by instal - 10,417

5. GOING CONCERN

As at the year end date the company had net liabilities of £404,824.

The company has suffered greatly in the last financial year due to the unprecedented misfortune of spending two game seasons in the fully restricted Avian Influenza zone. During the last season, which these financials relate to, the business operated in a 10km restriction zone which was one of only two in the entire country. Unfortunately as the business only deals with dead poultry, it was not eligible for compensation and such losses cannot be insured against. Legislation restricts the business fully from exporting, which is a majority part of the game meat market.

The company also struggled to supply, in adequate volume, the UK market. The game industry is slowly swapping from lead ammunition to non-toxic variants. UK retail will only stock non-toxic shot game. The supply of this is improving but it is frustratingly slow.

These two unfortunate, desperately unlucky, circumstances have led to unexpected losses in the year.

The company meets its working capital requirement via a directors loan that amounted to £521,177 as at the year end date (2023 £340,395)). The directors have confirmed that the loans will not be extracted until the balance sheet has recovered. On this basis the accounts have been prepared on a going concern basis.