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REGISTERED NUMBER: 02453339 (England and Wales)










REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JULY 2022 TO 31 MARCH 2023

FOR

G.& E. (MEATS) LIMITED

G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Period 1 JULY 2022 TO 31 MARCH 2023




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Statement of Financial Position 5

Notes to the Financial Statements 6


G.& E. (MEATS) LIMITED

COMPANY INFORMATION
For The Period 1 JULY 2022 TO 31 MARCH 2023







DIRECTOR: Mr P Stratis





SECRETARY: Mrs A Pishiri





REGISTERED OFFICE: 1 Kings Avenue
London
N21 3NA





REGISTERED NUMBER: 02453339 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)

REPORT OF THE DIRECTOR
For The Period 1 JULY 2022 TO 31 MARCH 2023

The director presents his report with the financial statements of the company for the period 1 July 2022 to 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the period under review was that of wholesalers of meat.

DIRECTOR
Mr P Stratis held office during the whole of the period from 1 July 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr P Stratis - Director


2 October 2023

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
G.& E. (MEATS) LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of G.& E. (Meats) Limited for the period ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of G.& E. (Meats) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of G.& E. (Meats) Limited and state those matters that we have agreed to state to the director of G.& E. (Meats) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than G.& E. (Meats) Limited and its director for our work or for this report.

It is your duty to ensure that G.& E. (Meats) 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 G.& E. (Meats) Limited. You consider that G.& E. (Meats) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of G.& E. (Meats) 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.






AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA


2 October 2023

G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)

INCOME STATEMENT
For The Period 1 JULY 2022 TO 31 MARCH 2023

Period
1.7.22
to Year Ended
31.3.23 30.6.22
£    £   

REVENUE 7,639,102 10,796,035

Cost of sales 6,623,571 9,373,716
GROSS PROFIT 1,015,531 1,422,319

Administrative expenses 708,214 964,582
307,317 457,737

Other operating income 912,729 7,596
OPERATING PROFIT 1,220,046 465,333


Interest payable and similar expenses 9,745 7,161
PROFIT BEFORE TAXATION 1,210,301 458,172

Tax on profit 229,111 85,476
PROFIT FOR THE FINANCIAL PERIOD 981,190 372,696

G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 764,337 777,154

CURRENT ASSETS
Inventories 47,164 12,890
Debtors 5 1,774,768 1,167,983
Cash at bank and in hand 1,054,133 756,796
2,876,065 1,937,669
CREDITORS
Amounts falling due within one year 6 2,371,783 1,451,174
NET CURRENT ASSETS 504,282 486,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,268,619

1,263,649

CREDITORS
Amounts falling due after more than one
year

7

-

(73,333

)

PROVISIONS FOR LIABILITIES 8 (15,341 ) (18,228 )
NET ASSETS 1,253,278 1,172,088

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 9 680,000 680,000
Retained earnings 572,278 491,088
1,253,278 1,172,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

The financial statements were approved by the director and authorised for issue on 2 October 2023 and were signed by:





Mr P Stratis - Director


G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)

NOTES TO THE FINANCIAL STATEMENTS
For The Period 1 JULY 2022 TO 31 MARCH 2023

1. STATUTORY INFORMATION

G.& E. (Meats) 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.

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


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 unless otherwise stated in these accounting policies.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

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 despatch 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 costs incurred or to be incurred in respect of the transaction can be measured reliably.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives

Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance
Motor vehicles - 20% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Land and building held and used in the Company's own activities for production and supply of goods or for
administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ form using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 JULY 2022 TO 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash & cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 20 (2022 - 19 ) .

G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 JULY 2022 TO 31 MARCH 2023

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
Short Fittings Motor Computer
leasehold & Machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 680,000 303,397 150,038 18,696 1,152,131
Additions - 3,596 - - 3,596
At 31 March 2023 680,000 306,993 150,038 18,696 1,155,727
DEPRECIATION
At 1 July 2022 - 241,082 117,150 16,745 374,977
Charge for period - 9,348 6,578 487 16,413
At 31 March 2023 - 250,430 123,728 17,232 391,390
NET BOOK VALUE
At 31 March 2023 680,000 56,563 26,310 1,464 764,337
At 30 June 2022 680,000 62,315 32,888 1,951 777,154

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 762,869 783,726
Other debtors 372,224 384,257
1,135,093 1,167,983

Amounts falling due after more than one year:
Other debtors 639,675 -

Aggregate amounts 1,774,768 1,167,983

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 80,000
Trade creditors 807,638 802,290
Amounts owed to group undertakings 1,308,740 461,740
Taxation and social security 244,517 93,530
Other creditors 10,888 13,614
2,371,783 1,451,174

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 73,333

G.& E. (MEATS) LIMITED (REGISTERED NUMBER: 02453339)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Period 1 JULY 2022 TO 31 MARCH 2023

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 18,228 17,064
Deferred tax (2,887 ) 1,164
15,341 18,228

Deferred
tax
£   
Balance at 1 July 2022 18,228
Provided during period (2,887 )
Balance at 31 March 2023 15,341

9. RESERVES
Revaluation
reserve
£   
At 1 July 2022
and 31 March 2023 680,000

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in the other debtors is an amount of £324,187 (2022: £324,187) due from the connected companies with common directorship.The loans were interest free and repayable on demand.