ACCOUNTS - Final Accounts preparation

An analysis of turnover by class of business is as follows:

Registered number: 07330012

GREAT NESS POULTRY LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

GREAT NESS POULTRY LIMITED

COMPANY INFORMATION

Directors	Mr E J Warner
	Mr W Warner


Registered number	07330012


Registered office	Wood Farm
	Adcote
	Shrewsbury
	Shrophire
	SY4 2JZ


Trading Address	Wood Farm
	Adcote
	Shrewsbury
	Shropshire
	SY4 2JZ



Independent auditors	WR Partners
	Chartered Accountants & Statutory Auditors
	3 Royal Court
	Gadbrook Way
	Gadbrook Park
	Northwich
	Cheshire
	CW9 7UT

GREAT NESS POULTRY LIMITED

CONTENTS

	Page
Strategic report	1
Directors' report	2
Directors' responsibilities statement	3
Independent auditors' report	4 - 7
Profit and loss account	8
Balance sheet	9 - 10
Statement of changes in equity	11
Statement of cash flows	12 - 13
Analysis of net debt	13
Notes to the financial statements	14 - 25

GREAT NESS POULTRY LIMITED

STRATEGIC REPORT

FOR THE PERIOD ENDED 5 APRIL 2025

Introduction

The directors present the strategic report for the period ended 5 April 2025.

Business review

Turnover has increased due to the additional poultry houses compared to 2024 and trading results show an improved margin with a pre-tax profit of £1,307,867 (2024 - £393,835).

Principal risks and uncertainties

The directors recognise that the company operates in a changing risk environment and review the risks to the business on an ongoing basis. The main risk to the business is that there is one customer Maelor Foods Ltd from whom all chickens are sourced from and sold to. Avian flu is also a risk to the business.

This risk is mitigated by the strong financial position of Maelor and their resilience in the market. The directors are happy that the business continues to be profitable following the investment in the two new sheds.

Financial key performance indicators

The key performance indicator against which the company measures its results is the gross profit achieved. The gross profit in 2025 was £2,326,074 (2024 - £1,275,595). This increased during the year due to a reduction in the cost of sales caused by lower feed costs.

This report was approved by the board and signed on its behalf.

................................................

Mr E J Warner

Director

Date: 16 December 2025

Page 1

GREAT NESS POULTRY LIMITED

DIRECTORS' REPORT

FOR THE PERIOD ENDED 5 APRIL 2025

The directors present their report and the financial statements for the period ended 5 April 2025.

Results and dividends

The profit for the period, after taxation, amounted to £969,026 (2024 - £383,590).

Ordinary dividends of £500 each were paid (2024 - £0). The directors do not recommend payment of a final dividend.

Directors

The directors who served during the period were:

Mr E J Warner

Mr W Warner

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 16 December 2025 and signed on its behalf.

Mr E J Warner

Director

Page 2

GREAT NESS POULTRY LIMITED

DIRECTORS' RESPONSIBILITIES STATEMENT

FOR THE PERIOD ENDED 5 APRIL 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;

∙make judgments 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 to 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.

Page 3

GREAT NESS POULTRY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREAT NESS POULTRY LIMITED

Opinion

We have audited the financial statements of Great Ness Poultry Limited (the 'Company') for the period ended 5 April 2025, which comprise the Profit and loss account, the Analysis of net debt, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, 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 5 April 2025 and of its profit for the period 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 United Kingdom, including the Financial Reporting Council'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.

Page 4

GREAT NESS POULTRY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREAT NESS POULTRY LIMITED (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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.

Opinion 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 period 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.

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 in relation to which 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 Directors' responsibilities statement set out on page 3, 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 is 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.

Page 5

GREAT NESS POULTRY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREAT NESS POULTRY LIMITED (CONTINUED)

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Animal Welfare Act 2006, Great Britain Poultry Register, Health and Safety Regulations and the EU General data Protection Regulation (GDPR).

We understood how the Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements.

Because of 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.

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.

Page 6

GREAT NESS POULTRY LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GREAT NESS POULTRY LIMITED (CONTINUED)

Chris Speakman FCCA (Senior statutory auditor)

for and on behalf of

WR Partners

Chartered Accountants

Statutory Auditors

3 Royal Court

Gadbrook Way

Gadbrook Park

Northwich

Cheshire

CW9 7UT

16 December 2025

Page 7

GREAT NESS POULTRY LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE PERIOD ENDED 5 APRIL 2025

	5 April	31 March
	2025	2024
Note	£	£


Turnover	11,346,026	10,889,571
Cost of sales	(9,019,952)	(9,613,976)
Gross profit	2,326,074	1,275,595
Administrative expenses	(746,803)	(615,668)
Operating profit	1,579,271	659,927
Interest receivable and similar income	-	29
Interest payable and similar expenses	(271,404)	(266,121)
Profit before tax	1,307,867	393,835
Tax on profit	(337,551)	(10,245)
Profit for the financial period	970,316	383,590

The notes on pages 14 to 25 form part of these financial statements.

Page 8

GREAT NESS POULTRY LIMITED

REGISTERED NUMBER: 07330012

BALANCE SHEET

AS AT 5 APRIL 2025

	5 April	As restated 31 March
	2025	2024
Note	£	£

Fixed assets
Tangible assets	11		10,441,630		8,530,466
			10,441,630		8,530,466
Current assets
Stocks	12	335,923		778,251
Debtors: amounts falling due after more than one year	13	420,000		480,000
Debtors: amounts falling due within one year	13	899,595		296,821
Cash at bank and in hand		274,530		-
		1,930,048		1,555,072
Creditors: amounts falling due within one year	14	(1,684,900)		(1,714,316)
Net current assets/(liabilities)			245,148		(159,244)
Total assets less current liabilities			10,686,778		8,371,222
Creditors: amounts falling due after more than one year	15		(5,805,085)		(4,653,916)
Provisions for liabilities
Deferred tax	17	(767,499)		(572,428)
			(767,499)		(572,428)
Net assets			4,114,194		3,144,878

Capital and reserves
Called up share capital	18	100	100
Profit and loss account	19	4,114,094	3,144,778
		4,114,194	3,144,878

Page 9

GREAT NESS POULTRY LIMITED

REGISTERED NUMBER: 07330012

BALANCE SHEET (CONTINUED)

AS AT 5 APRIL 2025

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................ Mr E J Warner
Director

Date: 16 December 2025

The notes on pages 14 to 25 form part of these financial statements.

Page 10

GREAT NESS POULTRY LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 5 APRIL 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2023	100	2,761,188	2,761,288
Comprehensive income for the year
Profit for the year	-	383,590	383,590
Total comprehensive income for the year	-	383,590	383,590
Total transactions with owners	-	-	-

At 1 April 2024	100	3,144,778	3,144,878
Comprehensive income for the period
Profit for the period	-	970,316	970,316
Total comprehensive income for the period	-	970,316	970,316
Contributions by and distributions to owners
Dividends: Equity capital	-	(1,000)	(1,000)
Total transactions with owners	-	(1,000)	(1,000)
At 5 April 2025	100	4,114,094	4,114,194

The notes on pages 14 to 25 form part of these financial statements.

Page 11

GREAT NESS POULTRY LIMITED

STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 5 APRIL 2025

			5 April	31 March
			2025	2024
			£	£

Cash flows from operating activities
Profit for the financial period	970,316	383,590
Adjustments for:
Depreciation of tangible assets	462,154	340,941
Interest paid	271,404	266,121
Interest received	-	(29)
Taxation charge	332,748	10,245
Decrease/(increase) in stocks	442,327	(597,287)
(Increase) in debtors	(542,774)	(682,414)
(Decrease)/increase in creditors	(220,214)	1,250,455
Corporation tax received/(paid)	5,020	(87,398)
Net cash generated from operating activities	1,720,981	884,224

Cash flows from investing activities
Purchase of tangible fixed assets	(2,373,318)	(46,921)
Interest received	-	29
Net cash from investing activities	(2,373,318)	(46,892)
Cash flows from financing activities
New secured loans	1,783,836	-
Repayment of loans	(506,382)	(70,992)
Dividends paid	(1,000)	-
Interest paid	(271,404)	(266,121)
Net cash used in financing activities	1,005,050	(337,113)
Net increase in cash and cash equivalents	352,713	500,219
Cash and cash equivalents at beginning of period	(78,183)	(578,402)
Cash and cash equivalents at the end of period	274,530	(78,183)

Cash and cash equivalents at the end of period comprise:
Cash at bank and in hand	274,530	-
Bank overdrafts	-	(78,183)
	274,530	(78,183)

Page 12

GREAT NESS POULTRY LIMITED

ANALYSIS OF NET DEBT

FOR THE PERIOD ENDED 5 APRIL 2025


At 1 April 2024	Cash flows	At 5 April 2025
£	£	£

Cash at bank and in hand	-	274,530	274,530
Bank overdrafts	(78,183)	78,183	-
Debt due after 1 year	(3,916,330)	(1,170,952)	(5,087,282)
Debt due within 1 year	(484,590)	(106,502)	(591,092)
	(4,479,103)	(924,741)	(5,403,844)

The notes on pages 14 to 25 form part of these financial statements.

Page 13

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

1.	General information

Great Ness Poultry Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wood Farm, Adcote, Little Ness, Shrewsbury, Shropshire. SY4 2JZ.

Reporting period

The financial statements are prepared to 5 April 2025.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors are aware of the risk faced by the company of only having one customer. The directors have assessed this risk and due to the financial stability of the customer and the competitive market, they are confident that the business can continue for a period of at least 12 months, therefore, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that hte economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the sale of energy is recognised at the point the transfer value has been agreed by Ofgem. Up to this point, revenue is not guaranteed or can be reliably estimated.

Page 14

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

2.Accounting policies (continued)

2.4

Grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 15

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as detailed below.

Depreciation is provided on the following basis:

Freehold property	-	Straight line over 40 years
Plant and machinery	-	25% and 10% on reducing balance
Computer equipment	-	33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Bird stock are valued using the Department of Environment, Food & Rural Affairs bird valuation tables.

Consumables are held at the lower of cost or net realisable value.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 16

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

3.	Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Poultry farming	10,791,254	10,643,962
Rents rceivable	6,203	5,056
Government grants	8,815	8,986
Maelor Foods grant	15,000	-
OFGEM income	524,754	231,567
	11,346,026	10,889,571

Analysis of turnover by country of destination:

					5 April	31 March
					2025	2024
					£	£

United Kingdom	11,346,026	10,889,571
	11,346,026	10,889,571

Page 17

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

Fees payable to the company's auditor for the audit of the company's financial statements	12,200	11,200
Depreciation of owned tangible fixed assets	468,249	340,941
Other operating lease rentals	16,200	9,600

Wages and salaries	247,423	239,385
Social security costs	18,378	24,407
Pensions	26,002	5,224
	291,803	269,016

The average monthly number of employees, including the directors, during the period was as follows:

	5 April	31 March
	2025	2024
	No.	No.

Employees	8	7

Page 18

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

Directors' emoluments	26,552	27,056
Company contributions to defined contribution pension schemes	22,600	2,400
	49,152	29,456

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

	Other interest receivable	-	29
		-	29

Bank interest payable	46,581	67,933
Loan interest payable	224,606	198,188
Other interest payable	217	-
	271,404	266,121

Page 19

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

Corporation tax
Current tax on profits for the year	202,298	67,353
Adjustments in respect of previous periods	(59,818)	-
	142,480	67,353

Total current tax	142,480	67,353

Deferred tax
Origination and reversal of timing differences	195,071	(57,108)
Total deferred tax	195,071	(57,108)


		337,551	10,245

Profit on ordinary activities before tax

1,307,867

393,835

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 19%)	326,967	98,459
Effects of:
Capital allowances for period/year in excess of depreciation	76,356	(8,300)
Utilisation of tax losses not previously recognised	-	(77,667)
Adjustments to tax charge in respect of prior periods	(59,818)	-
Non-taxable income less expenses not deductible for tax purposes, other than goodwill and impairment	(5,954)	(2,247)
Total tax charge for the period/year	337,551	10,245

Page 20

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

11.	Tangible fixed assets

	Freehold property	Plant and machinery	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	9,743,323	1,951,403	4,646	11,699,372
Additions	1,541,346	831,410	562	2,373,318
At 5 April 2025	11,284,669	2,782,813	5,208	14,072,690
Depreciation
At 1 April 2024	1,872,881	1,291,379	4,646	3,168,906
Charge for the period on owned assets	267,509	194,458	187	462,154
At 5 April 2025	2,140,390	1,485,837	4,833	3,631,060
Net book value
At 5 April 2025	9,144,279	1,296,976	375	10,441,630
At 31 March 2024	7,870,442	660,024	-	8,530,466

Poultry and feed	335,923	778,251
	335,923	778,251

Due after more than one year
Prepayments and accrued income	420,000	480,000
	420,000	480,000

Page 21

GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

13.Debtors (continued)

					5 April	31 March
					2025	2024
					£	£

Due within one year
Trade debtors	467,962	148,080
Other debtors	254,934	48,692
Prepayments and accrued income	176,699	100,049
	899,595	296,821

Bank overdrafts	-	78,183
Bank loans	587,573	484,590
Trade creditors	720,770	914,742
Corporation tax	210,050	67,353
Other taxation and social security	6,444	6,487
Other creditors	107,080	121,722
Accruals and deferred income	52,983	41,239
	1,684,900	1,714,316

Bank loans	5,090,801	3,916,330
Government grants received	144,284	152,586
Accruals and deferred income	570,000	585,000
	5,805,085	4,653,916

The government grants and the deferred income are released over the life of the asset for which the grants were awarded.

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GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

Amounts falling due within one year
Bank loans	587,573	484,590
	587,573	484,590
Amounts falling due 1-2 years
Bank loans	605,373	403,757
	605,373	403,757
Amounts falling due 2-5 years
Bank loans	1,882,420	1,211,271
	1,882,420	1,211,271
Amounts falling due after more than 5 years
Bank loans	2,603,007	2,301,302
	2,603,007	2,301,302
	5,678,373	4,400,920

Bank loans included within creditors are secured by a fixed and floating charge over the seven broiler sheds at Great Ness Broiler Site, Mountford Bridge, Shrewsbury and the solar panels. As well as a fixed and floating charge over all assets of the company.

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GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

17.	Deferred taxation

		2025
		£

	At beginning of year	(572,428)
	Charged to profit or loss	(195,071)
	At end of year	(767,499)

The deferred tax liability set out above is expected to reverse within 10 years and relates to accelerated capital allowances that are expected to mature within the same period.

	Accelerated capital allowances	(767,499)	(572,428)
		(767,499)	(572,428)

Allotted, called up and fully paid

100 (2024 - 100) Ordinary shares of £1.00 each	100	100

19.

Reserves

Profit and loss account

This is made up of the opening reserve plus the profit arising in the year less corporation tax, deferred tax and dividends.

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GREAT NESS POULTRY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 5 APRIL 2025

20.	Prior year adjustment

A grant of £600,000 is receivable from Maelor Foods, payable over a period of 10 years at £60,000 per year. The grant represents part funding for the construction of the poultry sheds. In the year ended 31 March 2024 £60,000 of the grant was recognised as a reduction in the cost of the related fixed asset. In 2025 this credit to fixed assets has been reversed with the whole of the remaining grant receivable being recognised in debtors and the full £600,000 being recognised as a deferred grant which is being released to the P&L in line with the 40 year depreciation period of the poultry sheds.

21.	Pension commitments

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At 5 April 2025, the company owed £0 (2024 - £0). Total contributions paid to the scheme during the period were £26,002 (2024 - £5,224).

22.

Related party transactions

Dividends totalling £1,000 (2024 - £0) have been paid to the directors.

Kinton Farm Storage Limited (KFS) and J Warner and Sons (JW&S) are related by virtue of common control. During the period, purchases were made from KFS amounting to £61,066 (2024: £80,427) and from JW&S amounting to £181,829 (2024: £nil). During the period, sales were made to KFS of £nil (2024: £40,000). At 5 April 2025 the company owed KFS £103,842 (2024: £121,722) and was owed £68,000 (2024: £17,246) from JW&S.

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