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REGISTERED NUMBER: 12590886 (England and Wales)




FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

POTTERS POULTRY LIMITED

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


POTTERS POULTRY LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: J M Potter
Mrs O J Stacey





SECRETARY: J M Potter





REGISTERED OFFICE: Prologis Park
Oxford Road
Ryton on Dunsmore
Coventry
Warwickshire
CV8 3EJ





REGISTERED NUMBER: 12590886 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 52,507 60,007
Tangible assets 5 146,437 112,854
198,944 172,861

CURRENT ASSETS
Stocks 6 659,073 714,244
Debtors 7 913,784 1,134,193
Cash at bank and in hand 83,837 69,127
1,656,694 1,917,564
CREDITORS
Amounts falling due within one year 8 1,625,292 1,794,011
NET CURRENT ASSETS 31,402 123,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,346

296,414

CREDITORS
Amounts falling due after more than one
year

9

1,494,050

1,342,056
NET LIABILITIES (1,263,704 ) (1,045,642 )

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings (1,263,804 ) (1,045,742 )
SHAREHOLDERS' FUNDS (1,263,704 ) (1,045,642 )

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





J M Potter - Director


POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Potters Poultry Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

The directors have prepared the financial statements on a going concern basis. The directors
have considered the following factors in their assessment of going concern.

The Company's ability to continue trading is dependent upon the directors’ management of cashflow. Management have prepared cashflow forecast for the next 12 months. Combined with current trading levels, the Directors believe the Company will achieve business growth and maintain sufficient cash reserves to enable continue trading for the foreseeable future. The directors have a reasonable expectation that the Company will have adequate financial resources to continue operations and have therefore prepared the financial statements on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable. The policies adopted for the recognition of turnover are as follows:

Farm Services and Rearing
Turnover represents the sale of poultry housing systems and the sale of rearing poultry to the egg laying industry.

Sales are accounted for as long term contracts under the provisions of Section 23 FRS102 where appropriate. Contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the proportion of total costs incurred at the balance sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual Property are being amortised evenly over their estimated useful life of ten years.

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided in order to write off each asset over its estimate useful life.
Plant and machinery - follows 15% straight line policy adopted from Group Company from which assets acquired, based on acquisition price relative to previous net book value.
Motor vehicles- follows 25% straight line policy adopted from Group Company from which assets acquired, following previous depreciation as economic life unchanged.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair market value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account.

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease in accordance with section 20.15 FRS102.

Hire purchase and finance leases
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair market value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Intellectual
Goodwill Property Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 75,000 7 75,007
AMORTISATION
At 1 April 2023 15,000 - 15,000
Amortisation for year 7,500 - 7,500
At 31 March 2024 22,500 - 22,500
NET BOOK VALUE
At 31 March 2024 52,500 7 52,507
At 31 March 2023 60,000 7 60,007

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 189,469 97,389 286,858
Additions 30,476 38,513 68,989
Disposals (2,233 ) - (2,233 )
At 31 March 2024 217,712 135,902 353,614
DEPRECIATION
At 1 April 2023 84,469 89,535 174,004
Charge for year 23,940 11,461 35,401
Eliminated on disposal (2,228 ) - (2,228 )
At 31 March 2024 106,181 100,996 207,177
NET BOOK VALUE
At 31 March 2024 111,531 34,906 146,437
At 31 March 2023 105,000 7,854 112,854

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
At 1 April 2023
and 31 March 2024 21,993
DEPRECIATION
At 1 April 2023 6,302
Charge for year 2,354
At 31 March 2024 8,656
NET BOOK VALUE
At 31 March 2024 13,337
At 31 March 2023 15,691

6. STOCKS
2024 2023
£    £   
Stocks 636,353 551,264
Work-in-progress 22,720 162,980
659,073 714,244

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 471,071 408,646
Amounts owed by group undertakings 2,963 5,000
Amounts recoverable on contract 309,529 538,558
Other debtors 32,500 -
VAT 53,268 51,875
Prepayments and accrued income 44,453 130,114
913,784 1,134,193

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 847,804 1,273,325
Amounts owed to group undertakings 124,828 138,017
Social security and other taxes 36,940 49,734
Other creditors 268,593 77,330
Amounts received on contracts 287,045 198,442
Accrued expenses 60,082 57,163
1,625,292 1,794,011

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,494,050 1,342,056

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 65,000 -
Between one and five years 178,750 243,750
243,750 243,750

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Invoice discounting facility 260,773 74,080

The invoice discounting liability is secured with a fixed and floating charge against the assets of the company.

POTTERS POULTRY LIMITED (REGISTERED NUMBER: 12590886)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford FCA FCCA (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
J M Potter
Balance outstanding at start of year - 7,820
Amounts advanced - 10,233
Amounts repaid - (18,053 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs O J Stacey
Balance outstanding at start of year - 7,820
Amounts advanced - 10,233
Amounts repaid - (18,053 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

15. PARENT UNDERTAKING

The parent company is W Potter & Sons (Holdings) Ltd, registered in England.