REGISTERED NUMBER: 09520803 (England and Wales)

LINCOLNSHIRE GAME LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 MARCH 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Kirk

S Wilkinson

SECRETARY:

T Kirk

REGISTERED OFFICE:

The Steyning

Swineshead

Boston

Lincolnshire

PE20 3NQ

REGISTERED NUMBER:

09520803 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe

Chartered Certified Accountants

The Old Vicarage

Church Close

Boston

Lincolnshire

PE21 6NA

FIXED ASSETS

Tangible assets

3

432,928

491,749

CURRENT ASSETS

Stocks

904,000

712,021

Debtors

205,652

71,937

Cash at bank and in hand

101,104

2,964

1,210,756

786,922

CREDITORS

Amounts falling due within one year

990,932

903,254

NET CURRENT ASSETS/(LIABILITIES)

219,824

(116,332

)

TOTAL ASSETS LESS CURRENT LIABILITIES

652,752

375,417

CREDITORS

Amounts falling due after more than one year

1,055,798

780,241

NET LIABILITIES

(403,046

)

(404,824

)

CAPITAL AND RESERVES

Called up share capital

20

20

Retained earnings

(403,066

)

(404,844

)

SHAREHOLDERS' FUNDS

(403,046

)

(404,824

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 27 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:

T Kirk - Director

S Wilkinson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

Straight line over 15 years

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Income and Retained Earnings, 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2024 - 34 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 28 March 2024

1,429,140

Additions

30,750

Disposals

(79,940

)

Transfer to ownership

(88,225

)

At 27 March 2025

1,291,725

DEPRECIATION

At 28 March 2024

937,391

Charge for year

78,715

Eliminated on disposal

(69,084

)

Transfer to ownership

(88,225

)

At 27 March 2025

858,797

NET BOOK VALUE

At 27 March 2025

432,928

At 27 March 2024

491,749

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 28 March 2024

296,564

Transfer to ownership

(88,225

)

At 27 March 2025

208,339

DEPRECIATION

At 28 March 2024

186,671

Charge for year

17,904

Transfer to ownership

(88,225

)

At 27 March 2025

116,350

NET BOOK VALUE

At 27 March 2025

91,989

At 27 March 2024

109,893

4.	GOING CONCERN

As at the year end date the company had net liabilities of £403,046 (2024 £404,824)

The company has suffered greatly again due to the unprecedented misfortune of spending now three game seasons in the fully restricted Avian Influenza zone. During the last season, which these financials relate to, the business operated in a 10km restriction zone which has now been well reported and widely spread across the UK. Unfortunately as the business only deals with dead poultry, it was not eligible for compensation and such losses cannot be insured against. Legislation restricts the business fully from exporting, which is a majority part of the game meat market.

The company has still struggled to supply, in adequate volume, the UK market. The focus has been on UK retail as there is zero risk with avian influenza. The game industry is slowly swapping from lead ammunition to non-toxic variants. UK retail will only stock non-toxic shot game. The supply

of this is improving but it is frustratingly slow. The better news is a full lead shot ban is on the agenda in the UK. This will allow the company to serve all UK retail with no restrictions. Waitrose have increased sales and stores in this current season and have confirmed for Christmas 2026 3 new lines on top of the current range.

These two, unfortunate, desperately unlucky, circumstances have again held back the company's performance.

Diversification in to b2b manufacturing for other companies and petfood handling will give the company a much improved, year-round income. This is expected to make a dramatic difference to profitability with clear margins. Contracts and approvals are all in place and being serviced successfully.

The company meets its working capital requirement via a directors loan that amounted to £515,994 as at the year end date (2024 £521,177)). The directors have confirmed that the loans will not be extracted until the balance sheet has recovered. On this basis the accounts have been prepared on a going concern basis.