PCS Poultry Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07380686 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2021

for

PCS Poultry Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Gadsby

REGISTERED OFFICE:

Perrott House

17 Bridge Street

Pershore

Worcestershire

WR10 1AJ

REGISTERED NUMBER:

07380686 (England and Wales)

ACCOUNTANTS:

Attwoods

Perrott House

17 Bridge Street

Pershore

Worcestershire

WR10 1AJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

143,572

40,842

143,572

40,842

CURRENT ASSETS

Stocks

30,000

33,292

Debtors

6

107,811

83,259

Cash at bank

211,577

291,826

349,388

408,377

CREDITORS

Amounts falling due within one year

7

187,357

196,941

NET CURRENT ASSETS

162,031

211,436

TOTAL ASSETS LESS CURRENT LIABILITIES

305,603

252,278

CREDITORS

Amounts falling due after more than one year

8

(169,143

)

(139,240

)

PROVISIONS FOR LIABILITIES

(6,004

)

(6,004

)

NET ASSETS

130,456

107,034

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

130,356

106,934

SHAREHOLDERS' FUNDS

130,456

107,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 31 July 2022 and were signed by:

J Gadsby - Director

1.	STATUTORY INFORMATION

PCS Poultry Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, was amortised evenly over its estimated useful life of five years.

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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

20% on cost

Office equipment

-

33% on cost

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 Income Statement, 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2020 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2020

and 31 October 2021

5,000

AMORTISATION

At 1 November 2020

and 31 October 2021

5,000

NET BOOK VALUE

At 31 October 2021

-

At 31 October 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Office

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2020

161,675

-

60,630

14,032

236,337

Additions

26,780

4,860

85,285

1,882

118,807

At 31 October 2021

188,455

4,860

145,915

15,914

355,144

DEPRECIATION

At 1 November 2020

143,228

-

39,434

12,833

195,495

Charge for year

10,443

435

4,358

841

16,077

At 31 October 2021

153,671

435

43,792

13,674

211,572

NET BOOK VALUE

At 31 October 2021

34,784

4,425

102,123

2,240

143,572

At 31 October 2020

18,447

-

21,196

1,199

40,842

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 November 2020

and 31 October 2021

8,500

122,090

130,590

DEPRECIATION

At 1 November 2020

3,400

39,434

42,834

Charge for year

1,700

3,953

5,653

At 31 October 2021

5,100

43,387

48,487

NET BOOK VALUE

At 31 October 2021

3,400

78,703

82,103

At 31 October 2020

5,100

82,656

87,756

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade debtors

85,194

63,315

Other debtors

-

17,625

Directors' current accounts

21,753

-

Prepayments - within one year

864

2,319

107,811

83,259

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans and overdrafts

91,851

67,564

Hire purchase contracts

44,733

37,017

Trade creditors

32,803

40,898

Taxation

-

19,605

Social security and other taxes

4,745

3,136

VAT

9,461

21,298

Other creditors

456

283

HSBC credit cards

478

992

Net wages

-

(465

)

Directors' current accounts

-

2,952

Accrued expenses

2,830

3,661

187,357

196,941

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Bank loans - 1-2 years

40,103

40,000

Other loans - 1-5 years

82,049

96,000

Hire purchase contracts

46,991

3,240

169,143

139,240

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.21

31.10.20

£

£

Hire purchase contracts

91,724

40,257

Ultimate Finance account

46,820

33,564

138,544

73,821

The hire purchase contracts are secured on the assets acquired.

The Ultimate Finance balance is secured on the company's trade debtors.