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REGISTERED NUMBER: 07914095 (England and Wales)















Glamorgan Quality Meats Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2022






Glamorgan Quality Meats Ltd (Registered number: 07914095)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glamorgan Quality Meats Ltd

Company Information
for the Year Ended 31 October 2022







DIRECTORS: M J Barratt
V Barratt





SECRETARY: V Barratt





REGISTERED OFFICE: Mayfield
Coed Morgan
Abergavenny
Monmouthshire
NP7 9UL





REGISTERED NUMBER: 07914095 (England and Wales)





ACCOUNTANTS: Griffiths Green Arnold
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Glamorgan Quality Meats Ltd (Registered number: 07914095)

Balance Sheet
31 October 2022

31.10.22 31.10.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 97,521 110,441

CURRENT ASSETS
Stocks 15,002 15,002
Debtors 5 169,600 166,113
Cash at bank and in hand 139,107 174,712
323,709 355,827
CREDITORS
Amounts falling due within one year 6 161,248 172,224
NET CURRENT ASSETS 162,461 183,603
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,982

294,044

CREDITORS
Amounts falling due after more than one year 7 (25,330 ) (45,330 )

PROVISIONS FOR LIABILITIES (9,000 ) (9,000 )
NET ASSETS 225,652 239,714

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 225,552 239,614
225,652 239,714

Glamorgan Quality Meats Ltd (Registered number: 07914095)

Balance Sheet - continued
31 October 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2023 and were signed on its behalf by:





M J Barratt - Director


Glamorgan Quality Meats Ltd (Registered number: 07914095)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Glamorgan Quality Meats Ltd 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.

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

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% on reducing balance
Motor vehicles - 25% on 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.

Taxation
Taxation for the year 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 balance sheet date.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 5 ) .

Glamorgan Quality Meats Ltd (Registered number: 07914095)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 November 2021 91,706 56,456 51,765 199,927
Additions - 1,168 - 1,168
At 31 October 2022 91,706 57,624 51,765 201,095
DEPRECIATION
At 1 November 2021 22,292 25,357 41,837 89,486
Charge for year 6,941 4,665 2,482 14,088
At 31 October 2022 29,233 30,022 44,319 103,574
NET BOOK VALUE
At 31 October 2022 62,473 27,602 7,446 97,521
At 31 October 2021 69,414 31,099 9,928 110,441

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Trade debtors 70,644 62,274
Other debtors 98,956 103,839
169,600 166,113

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans and overdrafts 10,000 -
Trade creditors 123,508 140,657
Taxation and social security 19,635 24,147
Other creditors 8,105 7,420
161,248 172,224

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans 25,330 45,330