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REGISTERED NUMBER: 07320787 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

WOOLLEY BROS. (NORTH EAST) LIMITED

WOOLLEY BROS. (NORTH EAST) LIMITED (REGISTERED NUMBER: 07320787)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WOOLLEY BROS. (NORTH EAST) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTOR: S R Woolley





REGISTERED OFFICE: The Old Abattoir
Stephens Terrace
Wheatley Hill
Co. Durham
DH6 3NQ





REGISTERED NUMBER: 07320787 (England and Wales)





AUDITORS: Philip Barnes & Co Limited
Chartered Accountants
Statutory Auditors
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

WOOLLEY BROS. (NORTH EAST) LIMITED (REGISTERED NUMBER: 07320787)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,274 55,447

CURRENT ASSETS
Stocks 5 78,683 81,558
Debtors 6 285,322 281,033
Cash at bank and in hand 50,867 57,668
414,872 420,259
CREDITORS
Amounts falling due within one year 7 530,248 506,783
NET CURRENT LIABILITIES (115,376 ) (86,524 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(51,102

)

(31,077

)

PROVISIONS FOR LIABILITIES 10,150 7,750
NET LIABILITIES (61,252 ) (38,827 )

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings (62,252 ) (39,827 )
SHAREHOLDERS' FUNDS (61,252 ) (38,827 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 May 2022 and were signed by:





S R Woolley - Director


WOOLLEY BROS. (NORTH EAST) LIMITED (REGISTERED NUMBER: 07320787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

Woolley Bros. (North East) 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on the basis that the company continues to operate as a going concern and assumes that the company will remain in operational existence for the foreseeable future and continue to pay its debts as and when they fall due. This assumption is underwritten by the existence of ongoing support from Woolley Brothers (Wholesale Meats) Ltd, its fellow subsidary.

Group transactions
In accordance with the provisions of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', disclosure in not required of transactions between group members provided that any subsidiary's that are party to the transaction are wholly owned within the group.

The company's parent undertaking Woolley Bros Holdings Ltd, includes the company in it's consolidated financial statements, and these are available at it's registered office at Rother Valley Way, Sheffield, S20 3RW.

Turnover
Turnover represents revenue by the company in respect of goods supplied during the period, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at lower of cost, and estimated selling price less costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


WOOLLEY BROS. (NORTH EAST) LIMITED (REGISTERED NUMBER: 07320787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued
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.

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

The average number of employees during the year was 11 (2020 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2021 50,872 67,200 500 118,572
Additions 4,318 25,000 - 29,318
At 31 December 2021 55,190 92,200 500 147,890
DEPRECIATION
At 1 January 2021 27,969 35,052 104 63,125
Charge for year 6,105 14,287 99 20,491
At 31 December 2021 34,074 49,339 203 83,616
NET BOOK VALUE
At 31 December 2021 21,116 42,861 297 64,274
At 31 December 2020 22,903 32,148 396 55,447

5. STOCKS
2021 2020
£    £   
Meat products 71,231 78,016
Packaging and consumables 7,452 3,542
78,683 81,558

All stocks are expensed as cost of sales.

WOOLLEY BROS. (NORTH EAST) LIMITED (REGISTERED NUMBER: 07320787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 278,173 272,995
Other debtors 2,397 3,030
Prepayments 4,752 5,008
285,322 281,033

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 18,217 25,999
Amounts owed to group undertakings 489,383 446,235
Tax - 14,550
Other creditors 16,207 13,665
Accrued expenses 6,441 6,334
530,248 506,783

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2021 2020
value: £    £   
1,000 Share capital 1 £1 1,000 1,000

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

The Report of the Auditors was unqualified.

Christopher Humphreys FCA (Senior Statutory Auditor)
for and on behalf of Philip Barnes & Co Limited