Company Reports & Accounts
difficult to recover.
By Roger Dean
Its principal business is the manufacture of prepared feeds for farm
The company is controlled by its two Directors: Mr. John Moore and Mrs. Margaret Moore
Mason’s Animal Feeds Ltd This company, which is registered in Northern Ireland, reported its financial results for the year ending 31 October 2020 on 26 April 2021. animals (SIC 10910) The company’s Director, Mr. C.W. Purdy, ‘considers the results
Youngs Animal Feeds
during the year to be satisfactory given the conditions within the
This company reported its financial results for the year ending 31 October
conditions within the agricultural sector at present.’ The report noted that
2020 on 20 April 2021.
the company is exposed to commodity price risk ‘due to movements and
The company’s principal activity is described as the manufacture of prepared feeds for farm animals (SIC 10910). The company’s principal activity continues to be the manufacturing and distribution of equine and pet food.
the volatility of commodity prices’. In the year under review, the company recorded sales of £28.79 million, an increase of £962,000 or 3.5 per cent over the previous accounting period. Profits before tax amounted to £413,176 compared
In the year ending 31 October 2020, the company generated
to £800,162 in the previous accounting period. This reflected a number
revenues of £8,883,312, an increase over the previous accounting period
of factors including a sharp rise in the cost of raw materials relative to
of £14,882 or 1.7 per cent. The increase in revenues was assisted by
sales value and also increases in the cost of interest and similar charges.
growth in pet food sales; this countered lower demand for equine feeds
The Gross Profit ratio, at 12.9 per cent, was at its lowest in a decade,
due to a lack of demand for equine feeds, reflecting the lack of shows
reflecting the increase in raw material costs relative to sales value.
and competitions which reduced the demand for high end feeds and supplements.
The ultimate controlling party is the sole Director, Mr. C W Purdy, by virtue of his shareholding in the parent company.
The company’s cost of sales declined slightly, reflecting a fall in raw material costs. As a result, the company’s Gross Profits increased
Burns Pet Nutrition Ltd
by 1.9 per cent.
This company submitted its report and accounts for the year ending 31
In the current accounting year, the company incurred a non-recurring
July 2020 on 29 April 29 April 2021.
item regarding its closure of its Huyton branch. As a result, the company’s
The company’s principal activities are described as the manufacture
pretax profits, which in the preceding accounting year had amounted to
of prepared pet foods (SIC 10920) and the wholesale of grain,
£18,432, was converted into a loss of £243,096.
unmanufactured tobacco, seeds and animal feeds (SIC 46210). The
The company identifies the principal risks to the company as ‘The continued increases in direct sales by larger competitors, leading to a
company also manufactures and distributes feeds for working dogs, including assistance dogs.
risk of customer losses in a hardening market’. The company further
The company reported sales in the financial period under review
observed that ‘the impact of increasing raw material prices must be
amounting to £21.93 million, down by £840,000 or 3.7 per cent compared
carefully managed to mitigate the risks that the situation presents’.
with the previous accounting period. The company notes that the
The company is part of a ‘corporate gross guarantee arrangement’ between companies of the Wynnstay Group PLC.
business ‘has maintained its strong sales performance with sales over £21 million’. While turnover and gross profit reduced from the prior year, the continued strong performance and cash generation allowed the
Moore’s Animal Feeds
company to invest in improved facilities and internal systems as well as
This company was incorporated in 1978 and its principal business is the
the ongoing research and development program.
manufacture of prepared feeds for farm animals.
Operating profits in the year under review fell to £2.38 million, a
The company, based in Ballymena, Northern Ireland, submitted
decline of 36.6 per cent on the previous year and pretax profits, at £1.3
its annual report and accounts for the year ending 30 April 2020 on 30
million, were down by £2.49 million or 65.7 per cent on the previous
March 2021.
year.
Total sales in the year under review amounted to £24.87 million,
The company notes that, in common with other businesses, the
£676,026 or 2.8 per cent more than in the previous accounting period.
external commercial environment is expected to remain competitive in the
The company has grown its sales over the previous five years. In 2016,
succeeding year. The departure of the UK from the EU from 1 January
the company grossed sales amounting to £16.3 million.
2021 has led to ‘some difficulties’ in distributing to customers in the EU.
In the current accounting period, the company generated pre-tax
The company notes, however, that ‘these difficulties are currently being
profits amounting to £1.09 million, an increase of 25.9 per cent on the
managed’ and are not material to group operating performance. The
previous accounting year.
company insists that it will continue to investigate solutions to ensure that
The company has been consistent as regards its Gross Profitability
customers in the EU continue to receive high levels of service.
in recent years. Its average Gross Profit over the past five years was
Looking at the company’s performance over the last decade, the
10.2 per cent, with a range from 10.8 per cent to 9.1 per cent. The latter
Company’s Gross Profit ratio has remained at around an average of 41
figure occurred in its annual report for the year ending 30 April 2019 which
per cent while ranging between 36.7 per cent and 45.5 per cent. This
was characterized by high raw material prices and a highly competitive
suggests that the company has its raw material costs well under control,
market place which made recovery of rising raw material costs more
despite fluctuations in volatile world markets.
Page 14 May/June 2021 Feed Compounder
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