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COMPANY REGISTRATION NUMBER: NI622060
DJC Poultry Ltd
Filleted Unaudited Financial Statements
31 December 2024
DJC Poultry Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
362,636
409,673
Current assets
Debtors
6
24,955
10,380
Cash at bank and in hand
79,634
71,754
---------
--------
104,589
82,134
Creditors: amounts falling due within one year
7
153,598
193,201
---------
---------
Net current liabilities
49,009
111,067
---------
---------
Total assets less current liabilities
313,627
298,606
Creditors: amounts falling due after more than one year
8
12,201
49,394
Provisions
Taxation including deferred tax
13,386
28,257
---------
---------
Net assets
288,040
220,955
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
287,940
220,855
---------
---------
Shareholders funds
288,040
220,955
---------
---------
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 income statement has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
DJC Poultry Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 4 June 2025 , and are signed on behalf of the board by:
Mr J Crawford
Mrs R Crawford
Director
Director
Company registration number: NI622060
DJC Poultry Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 8 Modagh Road, BERAGH, OMAGH, Co Tyrone, BT79 0RW.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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. Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the Statement of Financial Position date. Current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
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 & Buildings
-
4% straight line
Plant & Machinery
-
10% straight line
Fixtures & Fittings
-
20% straight line
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contact that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: Nil).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
490,214
282,154
1,108
42,900
816,376
Additions
5,950
5,950
Disposals
( 2,790)
( 2,790)
---------
---------
-------
--------
---------
At 31 December 2024
490,214
285,314
1,108
42,900
819,536
---------
---------
-------
--------
---------
Depreciation
At 1 January 2024
163,749
241,846
1,108
406,703
Charge for the year
19,608
32,821
52,429
Disposals
( 2,232)
( 2,232)
---------
---------
-------
--------
---------
At 31 December 2024
183,357
272,435
1,108
456,900
---------
---------
-------
--------
---------
Carrying amount
At 31 December 2024
306,857
12,879
42,900
362,636
---------
---------
-------
--------
---------
At 31 December 2023
326,465
40,308
42,900
409,673
---------
---------
-------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
21,856
9,671
Other debtors
3,099
709
--------
--------
24,955
10,380
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
42,487
79,172
Trade creditors
8,847
6,775
Social security and other taxes
37,637
33,479
Other creditors
64,627
73,775
---------
---------
153,598
193,201
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,201
49,394
--------
--------
The bank loan is secured by all present and future freehold/leasehold property.
9. Directors' advances, credits and guarantees
During the year, the directors withdrew from the company £4,981. The closing balance at the 31 December 2024 of £64,627. (2023: £69,608)