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Registration number: 12726673

Hillock Farm Pullets Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Hillock Farm Pullets Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Hillock Farm Pullets Ltd

Company Information

Directors

Mr Paul D Wignall

Mrs Emily Wignall

Registered office

1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

Accountants

GMR Accountants Ltd
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

 

Hillock Farm Pullets Ltd

(Registration number: 12726673)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

139,919

121,449

Current assets

 

Stocks

5

-

84,400

Debtors

6

124,855

3,213

Cash at bank and in hand

 

161,544

144,775

 

286,399

232,388

Creditors: Amounts falling due within one year

7

(122,133)

(109,317)

Net current assets

 

164,266

123,071

Total assets less current liabilities

 

304,185

244,520

Creditors: Amounts falling due after more than one year

7

(87,116)

(142,126)

Net assets

 

217,069

102,394

Capital and reserves

 

Called up share capital

120

120

Retained earnings

216,949

102,274

Shareholders' funds

 

217,069

102,394

For the financial year ending 31 December 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 22 May 2025 and signed on its behalf by:
 

.........................................
Mr Paul D Wignall
Director

 

Hillock Farm Pullets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
1st Floor
8/12 London Street
Southport
Merseyside
PR9 0UE

These financial statements were authorised for issue by the Board on 22 May 2025.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Hillock Farm Pullets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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

Property improvemnets

2% straight line basis

Plant, equipment and tractors

15% reducing balance basis

Cabins and chicken houses

15% reducing balance basis

Motor vehicles

25% 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 merchandise sold 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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Borrowings

 

Hillock Farm Pullets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Hillock Farm Pullets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Property improvemnets
£

Cabins and chicken houses
£

Office equipment
£

Motor vehicles
 £

Plant, equipment and tractors
£

Total
£

Cost or valuation

At 1 January 2024

17,253

103,051

-

45,995

52,310

218,609

Additions

-

7,638

3,377

-

45,992

57,007

At 31 December 2024

17,253

110,689

3,377

45,995

98,302

275,616

Depreciation

At 1 January 2024

1,208

53,103

-

20,123

22,726

97,160

Charge for the year

345

16,513

64

11,499

10,116

38,537

At 31 December 2024

1,553

69,616

64

31,622

32,842

135,697

Carrying amount

At 31 December 2024

15,700

41,073

3,313

14,373

65,460

139,919

At 31 December 2023

16,045

49,948

-

25,872

29,584

121,449

Included within the net book value of land and buildings above is £15,700 (2023 - £16,045) in respect of freehold land and buildings.
 

 

Hillock Farm Pullets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Stocks

2024
£

2023
£

Other inventories

-

84,400

6

Debtors

Current

2024
£

2023
£

Trade debtors

121,127

-

Prepayments

3,728

3,213

 

124,855

3,213

 

Hillock Farm Pullets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

55,081

55,672

Trade creditors

 

827

15,611

Taxation and social security

 

65,744

37,810

Accruals and deferred income

 

481

224

 

122,133

109,317

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

87,116

142,126

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

86,699

136,699

Hire purchase contracts

417

5,427

87,116

142,126

Current loans and borrowings

2024
£

2023
£

Bank borrowings

50,000

50,000

Hire purchase contracts

5,009

5,000

Other borrowings

72

672

55,081

55,672

 

Hillock Farm Pullets Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,080

23,790

Contributions paid to money purchase schemes

30,000

4,800

55,080

28,590