BrightAccountsProduction v1.0.0 v1.0.0 2022-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity is that of poultry farming. 26 March 2024 0 0 NI677798 2023-09-30 NI677798 2022-03-31 NI677798 2021-03-31 NI677798 2022-04-01 2023-09-30 NI677798 2021-04-01 2022-03-31 NI677798 uk-bus:PrivateLimitedCompanyLtd 2022-04-01 2023-09-30 NI677798 uk-curr:PoundSterling 2022-04-01 2023-09-30 NI677798 uk-bus:AbridgedAccounts 2022-04-01 2023-09-30 NI677798 uk-core:ShareCapital 2023-09-30 NI677798 uk-core:ShareCapital 2022-03-31 NI677798 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI677798 uk-core:RetainedEarningsAccumulatedLosses 2022-03-31 NI677798 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI677798 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-03-31 NI677798 uk-bus:FRS102 2022-04-01 2023-09-30 NI677798 uk-core:LandBuildings 2022-04-01 2023-09-30 NI677798 uk-core:PlantMachinery 2022-04-01 2023-09-30 NI677798 uk-core:FurnitureFittingsToolsEquipment 2022-04-01 2023-09-30 NI677798 2022-04-01 2023-09-30 NI677798 uk-bus:Director1 2022-04-01 2023-09-30 NI677798 uk-bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Frazer Poultry Limited
 
Abridged Unaudited Financial Statements
 
for the financial period ended 30 September 2023



Frazer Poultry Limited
Company Registration Number: NI677798
ABRIDGED BALANCE SHEET
as at 30 September 2023

Sep 23 Mar 22
Notes £ £
 
Fixed Assets
Tangible assets 5 788,342 -
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Current Assets
Stocks 160,000 -
Debtors 101,952 -
Cash at bank and in hand 1,821 100
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263,773 100
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Creditors: amounts falling due within one year (698,611) -
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Net Current (Liabilities)/Assets (434,838) 100
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Total Assets less Current Liabilities 353,504 100
 
Creditors:
amounts falling due after more than one year (26,889) -
 
Provisions for liabilities (70,422) -
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Net Assets 256,193 100
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Capital and Reserves
Called up share capital 100 100
Retained earnings 256,093 -
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Shareholders' Funds 256,193 100
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial period ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
           
Approved by the Director and authorised for issue on 26 March 2024
           
           
________________________________          
Des Frazer          
Director          
           



Frazer Poultry Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial period ended 30 September 2023

   
1. General Information
 
Frazer Poultry Limited is a private company, limited by shares, incorporated and registered in Northern Ireland. The registered number of the company is NI677798. The registered office of the company is 44 Ballymoyer Road, Newtownhamilton, Co. Armagh, BT35 0AL, Northern Ireland which is also the principal place of business of the company.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

The financial statements represent the individual entity of Frazer Poultry Limited for the 18 month period from the 31 March 2022 to the 30 September 2023. The comparative period covers the period from the date of incorporation, being the 25 March 2021, to the 31 March 2022. Furthermore, the business did not trade during the comparative period. As such, the comparatives are not entirely comparable.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 30 September 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.  The risks and rewards are deemed to have transferred when the goods have been delivered, or collected by the customer.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% Straight line
  Plant and machinery - 20% Straight line
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash at bank and in hand
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 18 month period ended 30 September 2023.
       
4. Employees
 
The company did not employ any employees during the current or comparative financial period.
           
5. Tangible assets
  Land and Plant and Fixtures, Total
  buildings machinery fittings and  
  freehold   equipment  
  £ £ £ £
Cost
At 1 April 2022 - - - -
Additions 522,324 362,476 11,038 895,838
  ───────── ───────── ───────── ─────────
At 30 September 2023 522,324 362,476 11,038 895,838
  ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2022 - - - -
Charge for the financial period 15,670 90,214 1,612 107,496
  ───────── ───────── ───────── ─────────
At 30 September 2023 15,670 90,214 1,612 107,496
  ───────── ───────── ───────── ─────────
Net book value
At 30 September 2023 506,654 272,262 9,426 788,342
  ═════════ ═════════ ═════════ ═════════
       
6. Details of creditors
 
Security given in respect of creditors
The total amount of secured liabilities at the period end amounted to £45,381 (2022: £nil). The company has given security on company borrowings in the form of security on specific assets of the company.
       
7. Related party transactions
 
The director, Des Frazer is also a director and shareholder of the UK company; Forever Warm Homes Ltd.  During the year, Forever Warm Homes Ltd provided Frazer Poultry Limited with an interest free loan of £350,000. This loan is repayable on demand and included under Creditors: amounts falling due within one year.