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Registered number: 12319383
Preston Feedstocks Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
JOHN BIRD
Chartered Accountants
26 Brookfield Street
Syston
LEICESTER
LE7 2AD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 12319383
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 857,472 405,520
857,472 405,520
CURRENT ASSETS
Stocks 5 21,930 288,044
Debtors 6 796,371 783,485
Cash at bank and in hand 1 37,578
818,302 1,109,107
Creditors: Amounts Falling Due Within One Year 7 (425,286 ) (530,440 )
NET CURRENT ASSETS (LIABILITIES) 393,016 578,667
TOTAL ASSETS LESS CURRENT LIABILITIES 1,250,488 984,187
Creditors: Amounts Falling Due After More Than One Year 8 (513,607 ) (297,760 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (103,823 ) (94,219 )
NET ASSETS 633,058 592,208
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 633,057 592,207
SHAREHOLDERS' FUNDS 633,058 592,208
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A Preston
Director
24/12/2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Preston Feedstocks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12319383 . The registered office is Manor Hill Farm, Leicester Lane, Desford, Leicester, LE9 9JJ. The accounts are presented in Sterling which is the functional currency of the company.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Silage clamp 5% reducing balance
Leasehold 25% reducing balance
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 3 years straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4 4
Page 4
Page 5
4. Tangible Assets
Land & Property
Silage clamp Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 April 2024 - 25,045 463,723 3,000
Additions 409,495 61,000 104,000 6,395
As at 31 March 2025 409,495 86,045 567,723 9,395
Depreciation
As at 1 April 2024 - 7,534 78,550 1,348
Provided during the period 10,681 11,419 98,460 266
Disposals - - - 7,781
As at 31 March 2025 10,681 18,953 177,010 9,395
Net Book Value
As at 31 March 2025 398,814 67,092 390,713 -
As at 1 April 2024 - 17,511 385,173 1,652
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2024 427 1,326 493,521
Additions - - 580,890
As at 31 March 2025 427 1,326 1,074,411
Depreciation
As at 1 April 2024 77 492 88,001
Provided during the period 53 278 121,157
Disposals - - 7,781
As at 31 March 2025 130 770 216,939
Net Book Value
As at 31 March 2025 297 556 857,472
As at 1 April 2024 350 834 405,520
5. Stocks
2025 2024
£ £
Stock 21,930 288,044
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6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 730,740 749,104
Prepayments and accrued income 14,085 13,341
Corporation tax recoverable 28,079 -
VAT 23,467 21,040
796,371 783,485
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 86,499 70,903
Trade creditors 207,315 256,610
Bank loans and overdrafts 35,000 -
Bank overdraft 47,889 -
Corporation tax - 28,078
Other taxes and social security 1,875 3,545
Net wages 5,140 7,336
Pension 385 462
Accruals and deferred income 35,683 158,506
Director's loan account 5,500 5,000
425,286 530,440
The bank loan is secured by a fixed and floating charge over the property at Holywell Farm, part of the director's assets.
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 211,462 297,760
Bank loans 302,145 -
513,607 297,760
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9. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 86,499 70,903
Later than one year and not later than five years 211,462 292,721
Later than five years - 5,039
297,961 368,663
297,961 368,663
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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