Bolton's Dairy Ltd 14161933 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is dairy farming Digita Accounts Production Advanced 6.30.9574.0 true 14161933 2023-07-01 2024-06-30 14161933 2024-06-30 14161933 bus:Director1 1 2024-06-30 14161933 core:RetainedEarningsAccumulatedLosses 2024-06-30 14161933 core:ShareCapital 2024-06-30 14161933 core:CurrentFinancialInstruments 2024-06-30 14161933 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 14161933 core:Non-currentFinancialInstruments 2024-06-30 14161933 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 14161933 core:MoreThanFiveYears 1 2024-06-30 14161933 core:OtherPropertyPlantEquipment 2024-06-30 14161933 bus:SmallEntities 2023-07-01 2024-06-30 14161933 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 14161933 bus:FilletedAccounts 2023-07-01 2024-06-30 14161933 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 14161933 bus:Director1 2023-07-01 2024-06-30 14161933 bus:Director1 1 2023-07-01 2024-06-30 14161933 bus:Director2 2023-07-01 2024-06-30 14161933 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 14161933 bus:Agent1 2023-07-01 2024-06-30 14161933 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 14161933 core:PlantMachinery 2023-07-01 2024-06-30 14161933 countries:EnglandWales 2023-07-01 2024-06-30 14161933 bus:Director1 1 2023-06-30 14161933 2022-06-09 2023-06-30 14161933 2023-06-30 14161933 core:RetainedEarningsAccumulatedLosses 2023-06-30 14161933 core:ShareCapital 2023-06-30 14161933 core:CurrentFinancialInstruments 2023-06-30 14161933 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 14161933 core:Non-currentFinancialInstruments 2023-06-30 14161933 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 14161933 core:MoreThanFiveYears 1 2023-06-30 iso4217:GBP xbrli:pure

REGISTRAR OF COMPANIES

Registration number: 14161933

Bolton's Dairy Ltd

Unaudited Financial Statements

30 June 2024

image-name

 

Bolton's Dairy Ltd

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bolton's Dairy Ltd
for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bolton's Dairy Ltd for the year ended 30 June 2024 as set out on pages 2 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Bolton's Dairy Ltd, as a body, in accordance with the terms of our engagement letter dated 6 November 2023. Our work has been undertaken solely to prepare for your approval the accounts of Bolton's Dairy Ltd and state those matters that we have agreed to state to the Board of Directors of Bolton's Dairy Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bolton's Dairy Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bolton's Dairy Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bolton's Dairy Ltd. You consider that Bolton's Dairy Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bolton's Dairy Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

13 January 2025

 

Bolton's Dairy Ltd

(Registration number: 14161933)
Balance Sheet as at 30 June 2024

Note

30 June 2024
£

30 June 2023
£

Fixed assets

 

Tangible assets

4

247,618

-

Current assets

 

Stocks

491,190

-

Debtors

5

112,938

-

Cash at bank and in hand

 

7,116

100

 

611,244

100

Creditors: Amounts falling due within one year

6

(220,643)

-

Net current assets

 

390,601

100

Total assets less current liabilities

 

638,219

100

Creditors: Amounts falling due after more than one year

6

(485,698)

-

Provisions for liabilities

(53,462)

-

Net assets

 

99,059

100

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

98,959

-

Total equity

 

99,059

100

 

Bolton's Dairy Ltd

(Registration number: 14161933)
Balance Sheet as at 30 June 2024 (continued)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 January 2025 and signed on its behalf by:
 

.........................................

J M Bolton

Director

.........................................

L T Bolton

Director

 

Bolton's Dairy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The principal place of business is:
5 Conway Close
Euxton
CHORLEY
PR7 6NT

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Bolton's Dairy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

15% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

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.

Stocks

Trading stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. The cost of livestock represents the purchase cost plus any additional costs of rearing the animal. Net realisable value is based on selling price less anticipated selling costs. Crop stock is valued at fair value less any anticipated costs to sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

 

Bolton's Dairy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Bolton's Dairy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Tangible assets

Plant and equipment
 £

Total
£

Cost or valuation

Additions

262,373

262,373

At 30 June 2024

262,373

262,373

Depreciation

Charge for the year

14,755

14,755

At 30 June 2024

14,755

14,755

Carrying amount

At 30 June 2024

247,618

247,618

5

Debtors

30 June 2024
£

30 June 2023
£

Trade debtors

72,727

-

Other debtors

40,211

-

112,938

-

6

Creditors

Note

30 June 2024
£

30 June 2023
£

Due within one year

 

Loans and borrowings

7

166,038

-

Trade creditors

 

38,471

-

Taxation and social security

 

40

-

Other creditors

 

16,094

-

 

220,643

-

Due after one year

 

Loans and borrowings

7

485,698

-

30 June 2024
£

30 June 2023
£

After more than five years by instalments

199,224

-

199,224

-

 

Bolton's Dairy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

7

Loans and borrowings

30 June 2024
£

30 June 2023
£

Current loans and borrowings

Bank borrowings

31,675

-

Bank overdrafts

52,165

-

Finance lease liabilities

74,971

-

Other borrowings

7,227

-

166,038

-

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

30 June 2024
£

30 June 2023
£

Bank borrowings

31,675

-

Bank overdrafts

52,165

-

Finance lease liabilities

74,971

-

158,811

-

Bank borrowings and bank overdrafts are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.

 

Bolton's Dairy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

30 June 2024
£

30 June 2023
£

Non-current loans and borrowings

Bank borrowings

355,489

-

Finance lease liabilities

130,209

-

485,698

-

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

30 June 2024
£

30 June 2023
£

Bank borrowings

355,489

-

Finance lease liabilities

130,209

-

485,698

-

Bank borrowings are secured by fixed and floating charges over the company's assets.

Finance lease liabilities are secured on the assets to which they relate.

 

Bolton's Dairy Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

8

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances
£

Repayments
£

Other payments
£

Dividends credited
£

Interest
£

At 30 June 2024
£

J M Bolton

Director's loan account

-

12,367

(11,594)

-

-

-

773

               
         

 

Directors' advances are repayable on demand.

No interest was charged on advances to directors.