| REGISTERED NUMBER: |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED |
| STRATEGIC REPORT, DIRECTORS' REPORT AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| REGISTERED NUMBER: |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED |
| STRATEGIC REPORT, DIRECTORS' REPORT AND |
| AUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Directors' Report | 3 |
| Statement of Directors' Responsibilities | 4 |
| Independent Auditors' Report | 5 |
| Statement of Income and Retained Earnings | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 |
| Notes to the Financial Statements | 13 |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Auditors: |
| Accountants and Statutory Auditors |
| Dalton House |
| 9 Dalton Square |
| LANCASTER |
| LA1 1WD |
| Bankers: |
| Market Place |
| Garstang |
| PRESTON |
| PR3 1ZA |
| Accountants: |
| Dalton House |
| 9 Dalton Square |
| LANCASTER |
| LA1 1WD |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| The directors present their strategic report for the year ended 28 February 2025. |
| The principal activity of the company is the processing and wholesaling of chilled foods. |
| Review of business |
| We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face. |
| As a poultry and meat wholesaler the company continues to supply its product to the wholesale sector. |
| We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being gross profit and operating profit. |
| We are satisfied that all divisions of the business have performed satisfactorily and in line with expectations, given the difficult and fluctuating conditions affecting the sector. |
| Gross profit has increased to £3,408,858 from £3,122,466. The operating profit has increased to £744,361 from £712,972 and profit before tax has increased to £710,527 from £668,261. |
| The profit for the year, after taxation, amounted to £528,790 compared to £502,862 in the previous year. |
| Particulars of dividends paid are detailed in note 11 to the financial statements. |
| Principal risks and uncertainties |
| As for many businesses of our size, the business environment in which we operate continues to be challenging. The fluctuating product prices and distribution costs are having a direct impact on our operating profits and continue to be a major concern. |
| With these risks and uncertainties in mind, we are aware that any plans for the future development of our business may be affected by unforeseen future events outside of our control. |
| On behalf of the board: |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| DIRECTORS' REPORT |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| The directors present their report with the financial statements of the company for the year ended 28 February 2025. |
| Dividends |
| The total distribution of dividends paid in the year ended 29 February 2025 was £497,619. |
| Directors |
| The directors shown below have held office during the whole of the period from 1 March 2024 to the date of this report. |
| Statement as to disclosure of information to auditors |
| So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
| Auditors |
| The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| On behalf of the board: |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| STATEMENT OF DIRECTORS' RESPONSIBILITIES |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations. |
| Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements and accounting estimates that are reasonable and prudent; |
| - | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED |
| Opinion |
| We have audited the financial statements of Direct Poultry Supply (Inskip) Limited (the 'company') for the year ended 28 February 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
| In our opinion the financial statements: |
| - | give a true and fair view of the state of the company's affairs as at 28 February 2025 and of its profit for the year then ended; |
| - | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
| - | have been prepared in accordance with the requirements of the Companies Act 2006. |
| Basis for opinion |
| We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Conclusions relating to going concern |
| In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
| Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
| Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Directors' Report and the Statement of Directors' Responsibilities, but does not include the financial statements and our Auditors' Report thereon. |
| Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
| In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
| Opinions on other matters prescribed by the Companies Act 2006 |
| In our opinion, based on the work undertaken in the course of the audit: |
| - | the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements. |
| INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED |
| Matters on which we are required to report by exception |
| In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report. |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| - | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| - | the financial statements are not in agreement with the accounting records and returns; or |
| - | certain disclosures of directors' remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of directors |
| As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
| In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
| INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED |
| Auditors' responsibilities for the audit of the financial statements |
| Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| - enquiries are made of management and those charged with governance as to whether there is any knowledge of actual, suspected, or alleged fraud, whether there is any known non-compliance with laws or regulations, and whether the company has been subject to any litigation or any legal claims. |
| - audit work over the risk of management override of controls is undertaken. This includes testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias. |
| - analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years, budgets and expectations to ensure the reasonableness of the figures therein. |
| - third party confirmation is obtained from the company's bankers to confirm bank balances, loan facilities and security held. |
| - detailed audit testing is undertaken in specific areas to ensure that income and expenditure is correctly recorded and is a genuine income or expense of the company. |
| - financial statement disclosures are reviewed and tested to supporting documentation to assess compliance with applicable laws and regulations. |
| Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report. |
| INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED |
| Use of our report |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| for and on behalf of |
| Accountants and Statutory Auditors |
| Dalton House |
| 9 Dalton Square |
| LANCASTER |
| LA1 1WD |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| STATEMENT OF INCOME AND RETAINED EARNINGS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Turnover | 3 |
| Cost of sales |
| Gross profit |
| Administrative expenses |
| 743,761 | 712,372 |
| Other operating income | 4 |
| Operating profit | 6 |
| Interest receivable and similar income | 8 |
| 775,341 | 728,023 |
| Interest payable and similar expenses | 9 |
| Profit before taxation |
| Tax on profit | 10 |
| Profit for the financial year |
| Retained earnings at beginning of year |
| Dividends | 11 | ( |
) | ( |
) |
| Retained earnings at end of year |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| BALANCE SHEET |
| 28 FEBRUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ |
| Fixed assets |
| Tangible assets | 12 |
| Current assets |
| Stocks | 13 |
| Debtors | 14 |
| Cash at bank and in hand | 15 |
| Creditors |
| Amounts falling due within one year | 16 |
| Net current assets |
| Total assets less current liabilities |
| Provisions for liabilities | 17 |
| Net assets |
| Capital and reserves |
| Called up share capital | 18 |
| Retained earnings | 19 |
| Shareholders' funds |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 |
| Interest paid | ( |
) | ( |
) |
| Tax paid | ( |
) | ( |
) |
| Net cash from operating activities |
| Cash flows from investing activities |
| Purchase of tangible fixed assets | ( |
) | ( |
) |
| Sale of tangible fixed assets |
| Interest received |
| Net cash from investing activities | ( |
) | ( |
) |
| Cash flows from financing activities |
| Amount introduced by directors | 361,245 | 256,706 |
| Amount withdrawn by directors | (298,737 | ) | (275,190 | ) |
| Equity dividends paid | ( |
) | ( |
) |
| Net cash from financing activities | ( |
) | ( |
) |
| Increase in cash and cash equivalents |
| Cash and cash equivalents at beginning of year |
2 |
440,547 |
| Cash and cash equivalents at end of year | 2 | 998,174 | 852,320 |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| NOTES TO THE CASH FLOW STATEMENT |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 1. | Reconciliation of profit before taxation to cash generated from operations |
| 2025 | 2024 |
| £ | £ |
| Profit before taxation |
| Depreciation charges |
| Loss on disposal of fixed assets |
| Finance costs | 64,814 | 59,762 |
| Finance income | (30,980 | ) | (15,051 | ) |
| 879,308 | 845,054 |
| Decrease/(increase) in stocks | ( |
) |
| (Increase)/decrease in trade and other debtors | ( |
) |
| Increase in trade and other creditors |
| Cash generated from operations |
| 2. | Cash and cash equivalents |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 28 February 2025 |
| 28/2/25 | 1/3/24 |
| £ | £ |
| Cash and cash equivalents | 998,174 | 852,320 |
| Year ended 29 February 2024 |
| 29/2/24 | 1/3/23 |
| £ | £ |
| Cash and cash equivalents | 852,320 | 440,547 |
| 3. | Analysis of changes in net funds |
| At 1/3/24 | Cash flow | At 28/2/25 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 852,320 | 145,854 | 998,174 |
| 852,320 | 998,174 |
| Total | 852,320 | 145,854 | 998,174 |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 1. | Statutory information |
| Direct Poultry Supply (Inskip) Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from the sale of poultry and other meat is recognised upon delivery to the customer. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 Statement of Comprehensive Income, 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 2. | Accounting policies - continued |
| 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. | Turnover |
| The turnover and profit before taxation are attributable to the one principal activity of the company. |
| 4. | Other operating income |
| 2025 | 2024 |
| £ | £ |
| Rents receivable |
| 5. | Employees and directors |
| 2025 | 2024 |
| £ | £ |
| Wages and salaries |
| Social security costs |
| Other pension costs |
| The average number of employees during the year was as follows: |
| 2025 | 2024 |
| Production | 92 | 94 |
| Sales and management | 18 | 17 |
| 2025 | 2024 |
| £ | £ |
| Directors' remuneration |
| Directors' pension contributions to money purchase schemes |
| The number of directors to whom retirement benefits were accruing was as follows: |
| Money purchase schemes |
| 6. | Operating profit |
| The operating profit is stated after charging: |
| 2025 | 2024 |
| £ | £ |
| Other operating leases |
| Depreciation - owned assets |
| Loss on disposal of fixed assets |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 7. | Auditors' remuneration |
| 2025 | 2024 |
| £ | £ |
| Fees payable to the company's auditors for the audit of the company's financial statements |
5,425 |
5,225 |
| Auditors' remuneration for non audit work |
| 8. | Interest receivable and similar income |
| 2025 | 2024 |
| £ | £ |
| Bank interest receivable |
| 9. | Interest payable and similar expenses |
| 2025 | 2024 |
| £ | £ |
| Other interest payable |
| 10. | Taxation |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2025 | 2024 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) |
| Tax on profit |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2025 | 2024 |
| £ | £ |
| Profit before tax |
| Profit multiplied by the standard rate of corporation tax in the UK of (2024 - |
| Effects of: |
| Expenses not deductible for tax purposes |
| Depreciation in excess of capital allowances |
| Super deduction | - | (349 | ) |
| tax used for deferred tax and |
| tax for different rates used |
| Difference between tax rates of 19 percent and 25 percent | - | (3,706 | ) |
| Total tax charge | 181,737 | 165,399 |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 11. | Dividends |
| Aggregate interim dividends paid during the year were £497,619 (2024 - £331,636) |
| 12. | Tangible fixed assets |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| Cost |
| At 1 March 2024 |
| Additions |
| Disposals |
| At 28 February 2025 |
| Depreciation |
| At 1 March 2024 |
| Charge for year |
| Eliminated on disposal |
| At 28 February 2025 |
| Net book value |
| At 28 February 2025 |
| At 29 February 2024 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 March 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 28 February 2025 |
| Depreciation |
| At 1 March 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 28 February 2025 |
| Net book value |
| At 28 February 2025 |
| At 29 February 2024 |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 13. | Stocks |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| Finished goods |
| 14. | Debtors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 15. | Cash at bank and in hand |
| 2025 | 2024 |
| £ | £ |
| Bank current account | 997,574 | 851,720 |
| Cash in hand |
| 16. | Creditors: amounts falling due within one year |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 384,156 | 321,648 |
| Accruals |
| 17. | Provisions for liabilities |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 118,764 | 116,796 |
| Deferred |
| tax |
| £ |
| Balance at 1 March 2024 |
| Provided during year |
| Balance at 28 February 2025 |
| DIRECT POULTRY SUPPLY (INSKIP) LIMITED (REGISTERED NUMBER: 01053707) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 FEBRUARY 2025 |
| 18. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary B | £1 | 803 | 803 |
| Ordinary C | £1 | 626 | 626 |
| Ordinary D | £1 | 626 | 626 |
| Ordinary E | £1 | 1,233 | 1,233 |
| 812 | Ordinary F | £1 | 812 | 812 |
| 10 | Ordinary G | £1 | 10 | 10 |
| 4,110 | 4,110 |
| Each share entitles the holder to vote, to dividends and to capital distribution arising from the winding up of the company. |
| 19. | Reserves |
| Retained |
| earnings |
| £ |
| At 1 March 2024 |
| Profit for the year |
| Dividends | ( |
) |
| At 28 February 2025 |
| 20. | Pension commitments |
| The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £219,623 (2024 - £198,892). |
| 21. | Related party disclosures |
| Two directors own part of the property from which the company operates for which they each receive a rent of £15,450 per annum. |
| During the year the company provided an interest free loan, repayable on demand, to Direct Property Services (Inskip) Limited, which is under common control with the company. The balance outstanding at the year end was £758,206 (2024 - £752,524). |