Company registration number 03333683 (England and Wales)
THROWLEY POULTRY LIMITED
Unaudited Financial Statements
For The Year Ended 30 September 2024
Pages For Filing With Registrar
Throwley Poultry Limited
THROWLEY POULTRY LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
Throwley Poultry Limited
THROWLEY POULTRY LIMITED
Accountants' Report To The Board Of Directors On The Preparation Of The Unaudited Statutory Financial Statements Of Throwley Poultry Limited For The Year Ended 30 September 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Throwley Poultry Limited for the year ended 30 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Throwley Poultry Limited, as a body, in accordance with the terms of our engagement letter dated 2 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Throwley Poultry Limited and state those matters that we have agreed to state to the board of directors of Throwley Poultry Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Throwley Poultry Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Throwley Poultry Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Throwley Poultry Limited. You consider that Throwley Poultry Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Throwley Poultry Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chavereys Limited
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
ME13 8GD
England
18 June 2025
Throwley Poultry Limited
THROWLEY POULTRY LIMITED
Balance Sheet
As At 30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
5
735,205
860,347
Current assets
Debtors
6
30,941
6,157
Cash at bank and in hand
74,916
49,405
105,857
55,562
Creditors: amounts falling due within one year
7
(4,060)
(81,388)
Net current assets/(liabilities)
101,797
(25,826)
Net assets
837,002
834,521
Capital and reserves
Called up share capital
40,000
40,000
Profit and loss reserves
797,002
794,521
Total equity
837,002
834,521
The notes on pages 3 to 6 form part of these financial statements.
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 17 June 2025 and are signed on its behalf by:
Mrs MF Scutt
Director
Company registration number 03333683 (England and Wales)
Throwley Poultry Limited
THROWLEY POULTRY LIMITED
Notes To The Financial Statements
For The Year Ended 30 September 2024
- 3 -
1
Accounting policies
Company information
Throwley Poultry Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Kent Barn, Bells Forstal Farm, Throwley, Faversham, Kent, England, ME13 0JS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, in respect of the company's share of profits from the unincorporated business in which it is a partner.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Partnership capital represents funds committed to the unincorporated farming business in which the company is a partner. The company's interest in the business is dealt with in the financial statements by the equity method of accounting. The profit and loss account includes turnover in the company's share of partnership profits/(losses), and the company's share of profits/(losses) less any drawings are added to the partnership capital in the balance sheet.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Throwley Poultry Limited
THROWLEY POULTRY LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
2
3
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
2,207
2,096
Adjustments in respect of prior periods
(2,096)
Total current tax
111
2,096
4
Dividends
2024
2023
£
£
Final paid
10,000
58,000
Throwley Poultry Limited
THROWLEY POULTRY LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
- 5 -
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
735,205
860,347
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023 & 30 September 2024
860,347
Impairment
At 1 October 2023
-
Disposals
125,142
At 30 September 2024
125,142
Carrying amount
At 30 September 2024
735,205
At 30 September 2023
860,347
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
2,096
2,295
Other debtors
22,392
3,862
Prepayments and accrued income
6,453
30,941
6,157
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
2,207
2,096
Other taxation and social security
3
Other creditors
77,442
Accruals and deferred income
1,850
1,850
4,060
81,388
Throwley Poultry Limited
THROWLEY POULTRY LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 30 September 2024
- 6 -
8
Related party transactions
During the year, the company advanced £20,000 to an unincorporated farming partnership, in which the director is a partner. At the year end, £20,000 was due to the company, which is included in other debtors. The balance was repaid in full post year end.