Maidenhouse Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08530570 (England and Wales)

MAIDENHOUSE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mrs A J Pledge

T R Ward

J J Ward

Mrs H Ward

REGISTERED OFFICE:

Mill Farm

Caythorpe Heath

Grantham

Lincolnshire

NG32 3EZ

REGISTERED NUMBER:

08530570 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

Clydesdale Bank

Moseley's Farm

Bury St Edmunds

IP28 6JY

FIXED ASSETS

Tangible assets

4

3,534,347

3,861,783

CURRENT ASSETS

Stocks

26,442

25,346

Debtors

5

634,985

174,453

661,427

199,799

CREDITORS

Amounts falling due within one year

6

3,964,439

4,024,282

NET CURRENT LIABILITIES

(3,303,012

)

(3,824,483

)

TOTAL ASSETS LESS CURRENT LIABILITIES

231,335

37,300

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

231,235

37,200

SHAREHOLDERS' FUNDS

231,335

37,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 2 February 2018 and were signed on its behalf by:

T R Ward - Director

J J Ward - Director

1.	STATUTORY INFORMATION

Maidenhouse 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.

The financial statements for the year ended 30 June 2017 are the first financial statements of Maidenhouse

Limited prepared in accordance with FRS 102. The reported financial position and performance for the

previous year are not affected by the transition to FRS 102.

Turnover

Turnover represents the fair value of net invoiced sales of poultry. Revenue is recognised upon collection by

the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life:

Leasehold improvements buildings - 4% on cost

Fixtures, fittings and equipment are depreciated to agree with capital allowances for taxation purposes.

Stocks

Stocks are valued at the lower of cost and fair value less costs to sell.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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 6 (2016 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

5,109,693

Additions

53,500

Disposals

(51,630

)

At 30 June 2017

5,111,563

DEPRECIATION

At 1 July 2016

1,247,910

Charge for year

338,599

Eliminated on disposal

(9,293

)

At 30 June 2017

1,577,216

NET BOOK VALUE

At 30 June 2017

3,534,347

At 30 June 2016

3,861,783

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

604,761

143,367

Other debtors

30,224

31,086

634,985

174,453

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

3,179,932

3,751,390

Trade creditors

604,724

82,525

Taxation

29,253

-

Other taxes and social security

9,298

8,062

Other creditors

86,897

70,000

Directors' current accounts

51,835

109,035

Accruals and deferred income

2,500

3,270

3,964,439

4,024,282

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

3,179,932

3,751,390

The bank holds security comprising of legal mortgages, fixed and floating charges over the whole of the

property, assets and rights of the company.