Company Registration No. 09990737 (England and Wales)
THE BUTCHERS' SOCIAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
PAGES FOR FILING WITH REGISTRAR
THE BUTCHERS' SOCIAL LIMITED
COMPANY INFORMATION
Director
Mr R Heptinstall
Company number
09990737
Registered office
4 & 6 Harris Business Park
Hanbury Road
Stoke Prior
Bromsgrove
Worcestershire
B60 4FG
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
6 Broad Street
Worcester
Worcestershire
WR1 2EJ
THE BUTCHERS' SOCIAL LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
THE BUTCHERS' SOCIAL LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE BUTCHERS' SOCIAL LIMITED FOR THE YEAR ENDED 31 MAY 2022
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Butchers' Social Limited for the year ended 31 May 2022 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of The Butchers' Social Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Butchers' Social Limited and state those matters that we have agreed to state to the Board of Directors of The Butchers' Social Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Butchers' Social Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that The Butchers' Social Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Butchers' Social Limited. You consider that The Butchers' Social Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Butchers' Social Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
31 August 2022
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
THE BUTCHERS' SOCIAL LIMITED
BALANCE SHEET
- 2 -
2022
2021
Notes
£
£
£
£
Current assets
Stocks
4,993
Debtors
3
1,894
4,974
Cash at bank and in hand
1,586
10,727
3,480
20,694
Creditors: amounts falling due within one year
4
(48,164)
(100,190)
Net current liabilities
(44,684)
(79,496)
Creditors: amounts falling due after more than one year
5
(30,748)
(40,493)
Net liabilities
(75,432)
(119,989)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(75,532)
(120,089)
Total equity
(75,432)
(119,989)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 31 August 2022.
Mr R Heptinstall
Director
Company Registration No. 09990737
THE BUTCHERS' SOCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
1
Accounting policies
Company information
The Butchers' Social Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 & 6 Harris Business Park, Hanbury Road, Stoke Prior, Bromsgrove, Worcestershire, B60 4FG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.6
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
THE BUTCHERS' SOCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
1
Accounting policies
(Continued)
- 4 -
1.7
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2021 - 12).
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
4,636
Other debtors
1,894
338
1,894
4,974
4
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
9,747
9,507
Trade creditors
5,654
Taxation and social security
42
26,860
Other creditors
38,375
58,169
48,164
100,190
5
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
30,748
40,493
THE BUTCHERS' SOCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 5 -
6
Secured debts
The following secured debts are included within creditors:
2022
2021
£
£
Bank loans
40,495
50,000
Bank loans are secured by way of a government-backed guarantee.
7
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary A of £1 each
50
50
50 Ordinary B of £1 each
50
50
100
100
8
Ultimate controlling party
There is no ultimate controlling party.