Clive Soanes (Broilers) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02071756 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

CLIVE SOANES (BROILERS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs M E Soanes

A M Soanes

SECRETARY:

Mrs M E Soanes

REGISTERED OFFICE:

Church Hill Farm,

Middleton-on-the-Wolds,

Driffield,

East Yorkshire

YO25 9UG

REGISTERED NUMBER:

02071756 (England and Wales)

ACCOUNTANTS:

Jackson Robson Licence

Chartered Accountants

33-35 Exchange Street

Driffield

East Yorkshire

YO25 6LL

FIXED ASSETS

Tangible assets

4

1,780,107

1,877,303

Investments

5

170,000

170,000

1,950,107

2,047,303

CURRENT ASSETS

Stocks

319,357

277,780

Debtors

6

724,849

412,997

Cash at bank

191,919

-

1,236,125

690,777

CREDITORS

Amounts falling due within one year

7

926,980

1,339,068

NET CURRENT ASSETS/(LIABILITIES)

309,145

(648,291

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,259,252

1,399,012

CREDITORS

Amounts falling due after more than one year

8

(800,000

)

-

PROVISIONS FOR LIABILITIES

(151,264

)

(162,042

)

NET ASSETS

1,307,988

1,236,970

CAPITAL AND RESERVES

Called up share capital

1,100

1,100

Retained earnings

9

1,306,888

1,235,870

SHAREHOLDERS' FUNDS

1,307,988

1,236,970

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 19 December 2017 and were signed on its behalf by:

Mrs M E Soanes - Director

1.	STATUTORY INFORMATION

Clive Soanes (Broilers) 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 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.

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.

Buildings

-

10% on cost

Plant and machinery

-

10% on cost

Investments in associates

Investments in associate 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Buildings

machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

1,623,649

2,049,359

9,980

3,682,988

Additions

131,318

24,417

9,385

165,120

At 31 March 2017

1,754,967

2,073,776

19,365

3,848,108

DEPRECIATION

At 1 April 2016

1,039,531

760,385

5,769

1,805,685

Charge for year

87,687

171,230

3,399

262,316

At 31 March 2017

1,127,218

931,615

9,168

2,068,001

NET BOOK VALUE

At 31 March 2017

627,749

1,142,161

10,197

1,780,107

At 31 March 2016

584,118

1,288,974

4,211

1,877,303

5.	FIXED ASSET INVESTMENTS

2017

2016

£

£

Participating interests

25

25

Loans to undertakings in which the company has a participating interest

169,975

169,975

170,000

170,000

Additional information is as follows:

Interest

in

associate

£

COST

At 1 April 2016

and 31 March 2017

25

NET BOOK VALUE

At 31 March 2017

25

At 31 March 2016

25

Loans to

associates

£

At 1 April 2016

and 31 March 2017

169,975

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

551,410

329,796

Other debtors

173,439

83,201

724,849

412,997

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

429,053

Trade creditors

129,720

906,184

Taxation and social security

28,324

-

Other creditors

768,936

3,831

926,980

1,339,068

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

800,000

-

9.

RESERVES

Retained

earnings

£

At 1 April 2016

1,235,870

Profit for the year

71,018

At 31 March 2017

1,306,888

10.	RELATED PARTY DISCLOSURES

During the year, the Company made sales totalling £5,043,551 (2016 - £3,361,437) to, and purchases of

£1,026,592 (2016 - £715,416) from T Soanes & Son (Poultry) Limited. At the year end, £55,410 (2016 -

£170,045) was owed to them. All transactions were on normal commercial terms.

The Company paid rent of £95,830 to Southfield Poultry Limited, a participating interest of Clive Soanes

(Broilers) Limited. Theses transactions were on normal commercial terms.

The Company also received a loan of £600,000 from T Soanes & Son (Poultry) Limited, and £200,000 from T

Soanes (Potatoes) Limited. Interest is being charged on this loan, and there is no fixed repayment schedule.

11.	ULTIMATE CONTROLLING PARTY