1 false false false false false false false false false false true false false false false false false 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP NI655082 2023-09-01 2024-08-31 NI655082 2024-08-31 NI655082 2023-08-31 NI655082 2022-09-01 2023-08-31 NI655082 2023-08-31 NI655082 2022-08-31 NI655082 core:LandBuildings 2023-09-01 2024-08-31 NI655082 core:PlantMachinery 2023-09-01 2024-08-31 NI655082 bus:Director1 2023-09-01 2024-08-31 NI655082 core:LandBuildings 2023-08-31 NI655082 core:PlantMachinery 2023-08-31 NI655082 core:LandBuildings 2024-08-31 NI655082 core:PlantMachinery 2024-08-31 NI655082 core:WithinOneYear 2024-08-31 NI655082 core:WithinOneYear 2023-08-31 NI655082 core:AfterOneYear 2024-08-31 NI655082 core:AfterOneYear 2023-08-31 NI655082 core:ShareCapital 2024-08-31 NI655082 core:ShareCapital 2023-08-31 NI655082 core:RetainedEarningsAccumulatedLosses 2024-08-31 NI655082 core:RetainedEarningsAccumulatedLosses 2023-08-31 NI655082 core:LandBuildings 2023-08-31 NI655082 core:PlantMachinery 2023-08-31 NI655082 bus:SmallEntities 2023-09-01 2024-08-31 NI655082 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 NI655082 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI655082 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI655082 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: NI655082
JNS Poultry Ltd
Filleted Unaudited Financial Statements
31 August 2024
JNS Poultry Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
745,168
743,899
Current assets
Stocks
66,145
37,395
Debtors
6
49,597
27,753
---------
--------
115,742
65,148
Creditors: amounts falling due within one year
7
581,650
572,154
---------
---------
Net current liabilities
465,908
507,006
---------
---------
Total assets less current liabilities
279,260
236,893
Creditors: amounts falling due after more than one year
8
142,435
160,650
Provisions
Taxation including deferred tax
64,272
45,746
---------
---------
Net assets
72,553
30,497
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
72,453
30,397
--------
--------
Shareholders funds
72,553
30,497
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JNS Poultry Ltd
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 23 May 2025 , and are signed on behalf of the board by:
Mr P Gollogly
Director
Company registration number: NI655082
JNS Poultry Ltd
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 81 Maphoner Road, Mullaghbawn, Newry, BT35 9TR. The principal activity of the company during the year was poultry farming.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings
-
4% straight line
Plant and machinery
-
10% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 September 2023
508,621
423,674
932,295
Additions
142,425
142,425
Disposals
( 93,972)
( 93,972)
---------
---------
---------
At 31 August 2024
508,621
472,127
980,748
---------
---------
---------
Depreciation
At 1 September 2023
81,380
107,016
188,396
Charge for the year
20,345
37,586
57,931
Disposals
( 10,747)
( 10,747)
---------
---------
---------
At 31 August 2024
101,725
133,855
235,580
---------
---------
---------
Carrying amount
At 31 August 2024
406,896
338,272
745,168
---------
---------
---------
At 31 August 2023
427,241
316,658
743,899
---------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
37,904
21,908
Other debtors
11,693
5,845
--------
--------
49,597
27,753
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
58,441
56,840
Trade creditors
92,161
56,031
Social security and other taxes
407
Other creditors
431,048
458,876
---------
---------
581,650
572,154
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
86,015
121,008
Other creditors
56,420
39,642
---------
---------
142,435
160,650
---------
---------
9. Director's advances, credits and guarantees
During the year the directors withdrew from the company a total of £40,451. The balance owed to the directors at 31 August 2024 was £405,270 (2023: £445,721)