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Registration number: 05742978

Sargents Butchers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2022

 

Sargents Butchers Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Sargents Butchers Limited

Company Information




 

Directors

Mr Jonty Erik Larkin

Miss Kiera Blanche Smith



 

Registered office

2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

 

Accountants

Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Sargents Butchers Limited
for the Year Ended 30 April 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sargents Butchers Limited for the year ended 30 April 2022 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Sargents Butchers Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Sargents Butchers Limited and state those matters that we have agreed to state to the Board of Directors of Sargents Butchers Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sargents Butchers Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Sargents Butchers Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sargents Butchers Limited. You consider that Sargents Butchers 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 accounts of Sargents Butchers 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 accounts.

......................................

Magenta Accounts Limited
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

9 September 2022

 

Sargents Butchers Limited

(Registration number: 05742978)
Balance Sheet as at 30 April 2022

Note

2022

2021

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

3,493

 

10,854

Current assets

   

 

Stocks

5

3,676

 

6,803

 

Debtors

6

8,333

 

1,914

 

Cash at bank and in hand

 

13,986

 

141,290

 

 

25,995

 

150,007

 

Creditors: Amounts falling due within one year

7

(27,498)

 

(150,242)

 

Net current liabilities

   

(1,503)

 

(235)

Total assets less current liabilities

   

1,990

 

10,619

Provisions for liabilities

 

(1,853)

 

-

Net assets

   

137

 

10,619

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Profit and loss account

37

 

10,519

 

Total equity

   

137

 

10,619

 

Sargents Butchers Limited

(Registration number: 05742978)
Balance Sheet as at 30 April 2022

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 September 2022 and signed on its behalf by:
 

.........................................
Mr Jonty Erik Larkin
Director

 

Sargents Butchers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2a Poles Copse, Poles Lane
Otterbourne
Winchester
Hampshire
SO21 2DZ

The principal place of business is:
6 Merriemeade Parade
Beaulieu Road
Dibden Purlieu
Southampton
SO45 4PY

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

As at the balance sheet date there were net current liabilities. The company is being supported by the Directors and therefore the accounts are being prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax, and other sales taxes.

 

Sargents Butchers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% reducing balance

Computer Equipment

33% Straight line

Motor Vehicles

25% reducing balance

Furniture & Fittings

25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Defined contribution pension obligation

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2021 - 4).

 

Sargents Butchers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2021

21,947

14,227

36,174

Additions

1,100

-

1,100

Disposals

-

(14,227)

(14,227)

At 30 April 2022

23,047

-

23,047

Depreciation

At 1 May 2021

18,537

6,783

25,320

Charge for the year

1,017

681

1,698

Eliminated on disposal

-

(7,464)

(7,464)

At 30 April 2022

19,554

-

19,554

Carrying amount

At 30 April 2022

3,493

-

3,493

At 30 April 2021

3,410

7,444

10,854

5

Stocks

2022
£

2021
£

Other inventories

3,676

6,803

6

Debtors

Current

2022
£

2021
£

Trade debtors

1,636

460

Prepayments

1,207

-

Other debtors

5,490

1,454

 

8,333

1,914

 

Sargents Butchers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

9,678

5,751

Taxation and social security

12,234

25,743

Accruals and deferred income

1,241

2,295

Other creditors

4,345

116,453

27,498

150,242

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

9

Related party transactions

The Director, S Taylor, had a loan to the company of £62,086 as at 30 April 2021 which was repaid in September 2021 at which time he ceased being a Director.

 

Sargents Butchers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Transactions with directors

2022

At 1 May 2021
£

Advances to director
£

At 30 April 2022
£

Mr Jonty Erik Larkin

Directors Loan

-

2,676

2,676