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REGISTERED NUMBER: 12065008 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

WIX FARMS POULTRY LTD

WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WIX FARMS POULTRY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr T A Cooper
Mr P J Cooper
Mr J H Jiggens
Mr W B King





REGISTERED OFFICE: 3 Manor Road
Colchester
Essex
CO3 3LU





REGISTERED NUMBER: 12065008 (England and Wales)





ACCOUNTANTS: Richard Sexton & Co LLP
3 Manor Road
Colchester
Essex
CO3 3LU

WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 28,800
Tangible assets 5 1,075,322 624,685
1,075,322 653,485

CURRENT ASSETS
Stocks 10,000 94,375
Debtors 6 191,965 132,144
Cash at bank 60 104,886
202,025 331,405
CREDITORS
Amounts falling due within one year 7 364,941 371,527
NET CURRENT LIABILITIES (162,916 ) (40,122 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

912,406

613,363

CREDITORS
Amounts falling due after more than one
year

8

(513,229

)

(577,385

)

PROVISIONS FOR LIABILITIES (124,840 ) (21,329 )
NET ASSETS 274,337 14,649

CAPITAL AND RESERVES
Called up share capital 90 90
Non distributable reserves 10 317,008 -
Retained earnings 10 (42,761 ) 14,559
274,337 14,649

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)

BALANCE SHEET - continued
30 JUNE 2024


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 14 March 2025 and were signed on its behalf by:




Mr J H Jiggens - Director



Mr W B King - Director


WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Wix Farms Poultry Ltd 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.

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 as modified by the revaluation of certain assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, has been amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided on the other tangible fixed assets so as to write off the cost over their expected useful lives as follows:-

Solar panels - Straight line over 20 years
Plant and machinery - 25 % on the reducing balance

No depreciation has been provided in respect of freehold property although this is a requirement of Financial Reporting Standard 102. The directors are of the opinion, based on an annual review for impairment, that any such provision would not be material.

Government grants
Government Grants in relation to expenditure are credited when the expenditure is charged to the profit and loss

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 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.


WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 144,000
AMORTISATION
At 1 July 2023 115,200
Charge for year 28,800
At 30 June 2024 144,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 28,800

WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Freehold Solar Plant and
property panels machinery Totals
£    £    £    £   
COST OR VALUATION
At 1 July 2023 540,104 73,150 70,816 684,070
Additions 37,218 - - 37,218
Revaluations 422,678 - - 422,678
At 30 June 2024 1,000,000 73,150 70,816 1,143,966
DEPRECIATION
At 1 July 2023 - 10,974 48,411 59,385
Charge for year - 3,658 5,601 9,259
At 30 June 2024 - 14,632 54,012 68,644
NET BOOK VALUE
At 30 June 2024 1,000,000 58,518 16,804 1,075,322
At 30 June 2023 540,104 62,176 22,405 624,685

Cost or valuation at 30 June 2024 is represented by:

Freehold Solar Plant and
property panels machinery Totals
£    £    £    £   
Valuation in 2024 422,678 - - 422,678
Cost 577,322 73,150 70,816 721,288
1,000,000 73,150 70,816 1,143,966

The property was valued on an open market basis on 30 June 2024 by the directors.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Solar
panels
£   
COST OR VALUATION
At 1 July 2023
and 30 June 2024 73,150
DEPRECIATION
At 1 July 2023 10,974
Charge for year 3,658
At 30 June 2024 14,632
NET BOOK VALUE
At 30 June 2024 58,518
At 30 June 2023 62,176

WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 93,594 104,912
Amounts owed by associates 68,650 5,000
Corporation tax debtor 5,370 -
VAT 10,662 8,759
Prepayments and accrued income 13,689 13,473
191,965 132,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 42,483 -
Bounce back loan < 1year 10,000 10,000
Mortgage loan < 1 year 45,232 43,868
Hire purchase contracts 10,019 11,683
Trade creditors 226,052 280,880
Corporation tax - 17,270
Social security and other taxes 2,633 2,791
Accruals and deferred income 28,522 5,035
364,941 371,527

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bounce back loan 1-2 years 9,167 10,000
Mortgage loan 1-2 years 46,621 45,214
Mortgage loan 2-5 years 148,628 144,143
Bounce back loan 2-5 years - 9,167
Mortgage loan > 5 years 308,813 360,530
Hire purchase contracts - 8,331
513,229 577,385

Amounts falling due in more than five years:

Repayable by instalments
Mortgage loan > 5 years 308,813 360,530

WIX FARMS POULTRY LTD (REGISTERED NUMBER: 12065008)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 42,483 -
Hire purchase contracts 10,019 20,014
Mortgage 549,294 593,755
601,796 613,769

The mortgage and overdraft are secured on properties owned by the Directors.

The hire purchase liability is secured against the assets to which it relates.

10. RESERVES
Non
Retained distributable
earnings reserves Totals
£    £    £   

At 1 July 2023 14,559 - 14,559
Profit for the year 259,688 259,688
Non distributable retained
earnings (317,008 ) 317,008 -
At 30 June 2024 (42,761 ) 317,008 274,247

11. ULTIMATE CONTROLLING PARTY

The company is not under the control of any one person or group of people.