Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseRetail butchers shop77falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12861001 2022-03-01 2023-02-28 12861001 2020-09-07 2022-02-28 12861001 2023-02-28 12861001 2022-02-28 12861001 c:Director1 2022-03-01 2023-02-28 12861001 d:PlantMachinery 2022-03-01 2023-02-28 12861001 d:PlantMachinery 2023-02-28 12861001 d:PlantMachinery 2022-02-28 12861001 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12861001 d:MotorVehicles 2022-03-01 2023-02-28 12861001 d:MotorVehicles 2023-02-28 12861001 d:MotorVehicles 2022-02-28 12861001 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12861001 d:FurnitureFittings 2022-03-01 2023-02-28 12861001 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 12861001 d:Goodwill 2022-03-01 2023-02-28 12861001 d:Goodwill 2023-02-28 12861001 d:Goodwill 2022-02-28 12861001 d:CurrentFinancialInstruments 2023-02-28 12861001 d:CurrentFinancialInstruments 2022-02-28 12861001 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12861001 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 12861001 d:ShareCapital 2023-02-28 12861001 d:ShareCapital 2022-02-28 12861001 d:RetainedEarningsAccumulatedLosses 2023-02-28 12861001 d:RetainedEarningsAccumulatedLosses 2022-02-28 12861001 c:FRS102 2022-03-01 2023-02-28 12861001 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 12861001 c:FullAccounts 2022-03-01 2023-02-28 12861001 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12861001 2 2022-03-01 2023-02-28 12861001 d:Goodwill d:OwnedIntangibleAssets 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure












BANNINGS' BUTCHERS LIMITED      

UNAUDITED      
FINANCIAL STATEMENTS      
For the year ended 28 FEBRUARY 2023      
Registered number: 12861001      

 
BANNINGS' BUTCHERS LIMITED
REGISTERED NUMBER:12861001

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
132,000
148,500

Tangible assets
 5 
12,415
14,327

  
144,415
162,827

Current assets
  

Stocks
  
7,000
7,000

Debtors: amounts falling due within one year
 6 
9,425
9,810

Cash at bank and in hand
  
50,820
77,101

  
67,245
93,911

Creditors: amounts falling due within one year
 7 
(117,426)
(179,707)

Net current liabilities
  
 
 
(50,181)
 
 
(85,796)

Total assets less current liabilities
  
94,234
77,031

Provisions for liabilities
  

Deferred tax
  
(2,359)
(2,722)

Net assets
  
91,875
74,309


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
91,775
74,209

  
91,875
74,309


Page 1

 
BANNINGS' BUTCHERS LIMITED
REGISTERED NUMBER:12861001

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2023.




A D Banning
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
BANNINGS' BUTCHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Bannings' Butchers Limited is a private company limited by shares, incorporated in England and Wales. The company's principal place of business is 3 Church Street, Sheringham, Norfolk, NR26 8QR.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises revenue recognised by the Company in respect of the sales of meat and associated products.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method in order that the amount charged is at a constant rate to the outstanding value of the loan or financed amount.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
BANNINGS' BUTCHERS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Taxation is only recognised in the Statement of Comprehensive Income.

The current corporation tax charge is calculated on the basis of taxation rates and laws that have been enacted or substantively enacted by the balance sheet date in the United Kingdom.

The charge for taxation takes into account taxation deferred or accelerated as a result of all material timing differences between the treatment of certain items for taxation and accounting purposes. Deferred tax assets are recognised only to the extent that they are regarded as recoverable within the foreseeable future. Deferred tax assets and liabilities are not discounted.


 
2.8

Intangible assets

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its estimated useful economic life of ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets less their estimated residual value over their expected useful lives. A full years depreciation is provided in the year of acquisition and none in the year of disposal.

Depreciation is provided on the following basis:

Motor vehicle
-
25%
reducing balance
Fixtures and fittings
-
15%
reducing balance


Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value.


 
2.11

Debtors

Debtors are measured at transaction price, less any impairment for bad or doubtful debts.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
BANNINGS' BUTCHERS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

Creditors

Creditors are measured at the transaction price.

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from third parties.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 5

 
BANNINGS' BUTCHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 March 2022
165,000



At 28 February 2023

165,000



Amortisation


At 1 March 2022
16,500


Charge for the year on owned assets
16,500



At 28 February 2023

33,000



Net book value



At 28 February 2023
132,000



At 28 February 2022
148,500



Page 6

 
BANNINGS' BUTCHERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Fixtures and fittings
Motor vehicle
Total

£
£
£



Cost


At 1 March 2022
15,753
1,250
17,003


Additions
387
-
387



At 28 February 2023

16,140
1,250
17,390



Depreciation


At 1 March 2022
2,363
313
2,676


Charge for the year on owned assets
2,065
234
2,299



At 28 February 2023

4,428
547
4,975



Net book value



At 28 February 2023
11,712
703
12,415



At 28 February 2022
13,390
937
14,327


6.


Debtors

2023
2022
£
£


Trade debtors
7,262
7,259

Other debtors
855
806

Prepayments and accrued income
1,308
1,745

9,425
9,810



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,346
9,546

Corporation tax
27,127
34,559

Other creditors
73,956
133,076

Accruals and deferred income
3,997
2,526

117,426
179,707


Page 7

 
BANNINGS' BUTCHERS LIMITED
 

 Page 8