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REGISTERED NUMBER: 04422320 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

SPURGEON PIGS LIMITED

SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SPURGEON PIGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Mr B J Spurgeon





SECRETARY:





REGISTERED OFFICE: 37A Quebec Street
Dereham
Norfolk
NR19 2DJ





REGISTERED NUMBER: 04422320 (England and Wales)






SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,170 1,170
Tangible assets 5 214,945 282,647
216,115 283,817

CURRENT ASSETS
Stocks 11,076 18,610
Debtors 6 224,550 222,671
Cash at bank 17,237 31,262
252,863 272,543
CREDITORS
Amounts falling due within one year 7 228,049 243,602
NET CURRENT ASSETS 24,814 28,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

240,929

312,758

CREDITORS
Amounts falling due after more than one
year

8

(138,349

)

(171,172

)

PROVISIONS FOR LIABILITIES (40,113 ) (52,842 )
NET ASSETS 62,467 88,744

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 62,367 88,644
SHAREHOLDERS' FUNDS 62,467 88,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)

BALANCE SHEET - continued
31 MAY 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 director and authorised for issue on 31 March 2025 and were signed by:





Mr B J Spurgeon - Director


SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Spurgeon Pigs 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.

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.

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

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

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.
Land and buildings - 10% on cost
Plant and machinery etc - 33% on reducing balance and 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 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.

SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

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.

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 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 1,170
NET BOOK VALUE
At 31 May 2024 1,170
At 31 May 2023 1,170

SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 18,900 1,111,998 1,130,898
Additions - 3,375 3,375
Disposals - (666 ) (666 )
At 31 May 2024 18,900 1,114,707 1,133,607
DEPRECIATION
At 1 June 2023 9,944 838,307 848,251
Charge for year 1,890 69,184 71,074
Eliminated on disposal - (663 ) (663 )
At 31 May 2024 11,834 906,828 918,662
NET BOOK VALUE
At 31 May 2024 7,066 207,879 214,945
At 31 May 2023 8,956 273,691 282,647

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

Plant and
machinery
etc
£   
COST
At 1 June 2023 300,532
Transfer to ownership (138,885 )
At 31 May 2024 161,647
DEPRECIATION
At 1 June 2023 125,424
Charge for year 25,497
Transfer to ownership (65,762 )
At 31 May 2024 85,159
NET BOOK VALUE
At 31 May 2024 76,488
At 31 May 2023 175,108

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,200 53,622
Other debtors 198,350 169,049
224,550 222,671

SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 19,260 19,356
Hire purchase contracts 23,910 31,465
Trade creditors 49,087 38,836
Taxation and social security 135,792 151,090
Other creditors - 2,855
228,049 243,602

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 135,689 144,603
Hire purchase contracts 2,660 26,569
138,349 171,172

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 58,649 67,563

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 154,949 163,959
Hire purchase contracts 26,570 58,034
181,519 221,993

The amounts due under hire purchase agreements are secured on the assets concerned. Bank borrowings are secured by a debenture and a personal guarantee by the director.

10. OTHER FINANCIAL COMMITMENTS

At 31 May 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £69,363 (2023: £64,362).

SPURGEON PIGS LIMITED (REGISTERED NUMBER: 04422320)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

2024 2023
£    £   
Mr B J Spurgeon
Balance outstanding at start of year 128,351 -
Amounts advanced 27,940 128,351
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 156,291 128,351

Interest was charged by the company on the overdrawn balance at 2.25% per annum calculated on a monthly basis.