Potters Poultry International Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01770118 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

POTTERS POULTRY INTERNATIONAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J M Potter

O J Stacey

SECRETARY:

C Parker

REGISTERED OFFICE:

Leigh Road

Swift Valley Industrial Estate

Rugby

Warwickshire

CV21 1DS

REGISTERED NUMBER:

01770118 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Investments

3

63

63

CURRENT ASSETS

Stocks

4

2,660

36,153

Debtors

5

461,347

441,707

Cash at bank

27

84,580

464,034

562,440

CREDITORS

Amounts falling due within one year

6

412,343

523,402

NET CURRENT ASSETS

51,691

39,038

TOTAL ASSETS LESS CURRENT LIABILITIES

51,754

39,101

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

51,654

39,001

SHAREHOLDERS' FUNDS

51,754

39,101

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 1 December 2017 and were signed on its behalf by:

J M Potter - Director

1.	STATUTORY INFORMATION

Potters Poultry International 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

July 2015 amendments to FRS 102 section 1A have been applied before 1 January 2016.

Preparation of consolidated financial statements

The financial statements contain information about Potters Poultry International Limited as an

individual company and do not contain consolidated financial information as the parent of a group. The

company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare

consolidated financial statements as it and its subsidiary undertaking are included by full consolidation

in the consolidated financial statements of its parent, W Potter & Sons (Holdings) Ltd, Leigh Road,

Swift Valley Industrial Estate, Rugby, Warwickshire, England, CV21 1DS.

Turnover

Turnover represents the sale of poultry housing systems.

Sales are accounted for as long term contracts under the provisions of Section 23 FRS 102. Contract

costs and turnover are recognised by reference to the stage of completion at the balance sheet date.

Stage of completion is measured by reference to the proportion of total costs incurred at the balance

sheet date.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the

period in which they are incurred and contract turnover is recognised to the extent of costs incurred

that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is

recognised as an expense immediately, with a corresponding provision.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Long term contracts are stated at net cost less forseeable losses less any applicable payments on

account. The amount recorded as turnover in respect of long term contracts is ascertained by

reference to the value of the work carried out to date. Attributable profit is recognised as the difference

between recorded turnover and related costs.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are

recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss

account in other administrative expenses.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2016

and 31 March 2017

63

NET BOOK VALUE

At 31 March 2017

63

At 31 March 2016

63

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Potters Poultry Inc

Registered office: USA

Nature of business: Promotion of poultry housing systems

%

Class of shares:

holding

Common Stock

100.00

The directors consider the value of the investment to be equal to the cost of the investment.

4.

STOCKS

2017

2016

£

£

Net costs less foreseeable losses

2,660

36,153

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

5,236

284,097

Amounts owed by group undertakings

63,049

-

Amounts recoverable on contract

20,343

-

Prepayments

372,719

157,610

461,347

441,707

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Payments on account

-

179,553

Trade creditors

1,013

12

Amounts owed to group undertakings

18,411

321,550

Tax

19,543

16,380

Accrued expenses

373,376

5,907

412,343

523,402

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2016

39,001

Profit for the year

12,653

At 31 March 2017

51,654

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Steven Twigger ACA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

10.	ULTIMATE PARENT COMPANY

The ultimate controlling party is W Potter & Sons (Holdings) Ltd.