Company Registration No. 05075298 (England and Wales)
British Beef Jerky Limited
Unaudited accounts
for the year ended 31 March 2023
British Beef Jerky Limited
Unaudited accounts
Contents
British Beef Jerky Limited
Company Information
for the year ended 31 March 2023
Directors
B Bradley
L Bradley
Company Number
05075298 (England and Wales)
Registered Office
2 Eshottheugh Workshops
Felton
Morpeth
Northumberland
NE65 9QH
Accountants
Accounting for Good CIC
2 Geordie Ridley Place
Upper Precinct
Wesley Court
Blaydon on Tyne
Tyne and Wear
NE21 5BT
British Beef Jerky Limited
Statement of financial position
as at 31 March 2023
Tangible assets
180,621
253,249
Cash at bank and in hand
83,851
120,860
Creditors: amounts falling due within one year
(128,994)
(182,530)
Net current assets/(liabilities)
59,810
(16,296)
Total assets less current liabilities
240,431
236,953
Creditors: amounts falling due after more than one year
(87,803)
(91,741)
Provisions for liabilities
Deferred tax
(34,318)
(26,259)
Net assets
118,310
118,953
Called up share capital
100
100
Profit and loss account
118,210
118,853
Shareholders' funds
118,310
118,953
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by
L Bradley
Director
Company Registration No. 05075298
British Beef Jerky Limited
Notes to the Accounts
for the year ended 31 March 2023
British Beef Jerky Limited is a private company, limited by shares, registered in England and Wales, registration number 05075298. The registered office is 2 Eshottheugh Workshops, Felton, Morpeth, Northumberland, NE65 9QH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
British Beef Jerky Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
685,146
87,349
44,140
816,635
Additions
1,583
46,569
46,161
94,313
Disposals
(183,173)
(51,598)
-
(234,771)
At 31 March 2023
503,556
82,320
90,301
676,177
At 1 April 2022
485,095
41,056
37,235
563,386
Charge for the year
34,323
12,617
13,266
60,206
On disposals
(118,833)
(9,203)
-
(128,036)
At 31 March 2023
400,585
44,470
50,501
495,556
At 31 March 2023
102,971
37,850
39,800
180,621
At 31 March 2022
200,051
46,293
6,905
253,249
Amounts falling due within one year
Trade debtors
65,060
35,824
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
9,931
12,009
Obligations under finance leases and hire purchase contracts
20,530
22,066
Trade creditors
13,135
26,280
Taxes and social security
4,619
3,817
Proposed dividends
10,000
-
Other creditors
(205)
(205)
Loans from directors
69,209
74,163
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
28,053
20,470
British Beef Jerky Limited
Notes to the Accounts
for the year ended 31 March 2023
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).