Registrar
Registration number:
S Kelly Farms Limited
for the Year Ended 31 March 2026
S Kelly Farms Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
S Kelly Farms Limited
Company Information
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Directors |
S Kelly J D R Heath J T J Kelly |
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Company secretary |
J T J Kelly |
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Registered office |
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Bankers |
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Accountants |
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S Kelly Farms Limited
(Registration number: 05262289)
Balance Sheet as at 31 March 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Revaluation reserve |
2,466,741 |
2,449,505 |
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Retained earnings |
1,832,836 |
1,447,875 |
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Shareholders' funds |
4,299,677 |
3,897,480 |
For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Director
S Kelly Farms Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
These financial statements are presented in Sterling (£), which is the company's functional currency.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of poultry and poultry manure in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.
Contract revenue recognition
Contract revenue includes the amount agreed in the initial contract, plus revenue from alterations in the original contract work that are expected to be collected and can be measured reliably.
Contract costs include costs that relate directly to the specific contract.
Revenue and costs are recognised in proportion to the stage of completion of the contract as at the Financial Statement period end date under the percentage of completion method.
Tax
Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
S Kelly Farms Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.
No depreciation is provided in respect of Land and buildings and they are revalued at the discretion of the directors. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand.
Trade debtors
Trade debtors are amounts due from customers for broiler chickens and poultry manure sold in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity.
S Kelly Farms Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
S Kelly Farms Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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Tangible assets |
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Land and buildings |
Office equipment |
Motor vehicles |
Solar panels |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2025 |
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Additions |
- |
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- |
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Disposals |
- |
- |
( |
- |
- |
( |
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At 31 March 2026 |
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Depreciation |
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At 1 April 2025 |
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Charge for the year |
- |
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Eliminated on disposal |
- |
- |
( |
- |
- |
( |
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At 31 March 2026 |
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Carrying amount |
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At 31 March 2026 |
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At 31 March 2025 |
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Included within the net book value of land and buildings above is £6,639,081 (2025 - £6,639,081) in respect of freehold land and buildings and £Nil (2025 - £Nil) in respect of improvements to property.
S Kelly Farms Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
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Stocks |
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2026 |
2025 |
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Stocks |
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Debtors |
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Note |
2026 |
2025 |
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Trade debtors |
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Amounts owed by related parties |
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- |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2026 |
2025 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
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Taxation and social security |
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Corporation tax |
122,720 |
71,652 |
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Accruals and deferred income |
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Directors loan |
131,078 |
189,706 |
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Other creditors |
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Creditors include bank loans, overdrafts and net obligations under hire purchase contracts which are secured of £83,593 (2025 - 407,561).
Creditors: amounts falling due after more than one year
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Note |
2026 |
2025 |
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Due after one year |
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Loans and borrowings |
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S Kelly Farms Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026
Creditors due after more than on year are bank loans and net obligations under hire purchase contracts which are secured of £1,570,417 (2025 - £1,697,937).
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Share capital |
Allotted, called up and fully paid shares
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2026 |
2025 |
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No. |
£ |
No. |
£ |
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45 |
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45 |
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40 |
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40 |
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5 |
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5 |
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5 |
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5 |
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5 |
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5 |
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Loans and borrowings |
Current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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Bank overdrafts |
- |
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Hire purchase contracts |
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Other borrowings |
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Non-current loans and borrowings
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2026 |
2025 |
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Bank borrowings |
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Hire purchase contracts |
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Other borrowings |
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