Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity1715truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04142491 2022-04-01 2023-03-31 04142491 2021-04-01 2022-03-31 04142491 2023-03-31 04142491 2022-03-31 04142491 c:Director2 2022-04-01 2023-03-31 04142491 d:Buildings 2022-04-01 2023-03-31 04142491 d:Buildings 2023-03-31 04142491 d:Buildings 2022-03-31 04142491 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04142491 d:Buildings d:LongLeaseholdAssets 2022-04-01 2023-03-31 04142491 d:PlantMachinery 2022-04-01 2023-03-31 04142491 d:PlantMachinery 2023-03-31 04142491 d:PlantMachinery 2022-03-31 04142491 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04142491 d:FurnitureFittings 2022-04-01 2023-03-31 04142491 d:FurnitureFittings 2023-03-31 04142491 d:FurnitureFittings 2022-03-31 04142491 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04142491 d:ComputerEquipment 2022-04-01 2023-03-31 04142491 d:ComputerEquipment 2023-03-31 04142491 d:ComputerEquipment 2022-03-31 04142491 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04142491 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04142491 d:CurrentFinancialInstruments 2023-03-31 04142491 d:CurrentFinancialInstruments 2022-03-31 04142491 d:Non-currentFinancialInstruments 2023-03-31 04142491 d:Non-currentFinancialInstruments 2022-03-31 04142491 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04142491 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04142491 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04142491 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04142491 d:ShareCapital 2023-03-31 04142491 d:ShareCapital 2022-03-31 04142491 d:RetainedEarningsAccumulatedLosses 2023-03-31 04142491 d:RetainedEarningsAccumulatedLosses 2022-03-31 04142491 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04142491 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 04142491 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04142491 c:OrdinaryShareClass1 2023-03-31 04142491 c:OrdinaryShareClass1 2022-03-31 04142491 c:FRS102 2022-04-01 2023-03-31 04142491 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04142491 c:FullAccounts 2022-04-01 2023-03-31 04142491 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04142491 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 04142491 d:HirePurchaseContracts d:WithinOneYear 2022-03-31 04142491 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 04142491 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-03-31 04142491 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-03-31 04142491 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-03-31 04142491 d:LeasedAssetsHeldAsLessee 2023-03-31 04142491 d:LeasedAssetsHeldAsLessee 2022-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04142491










T & G WHOLESALE MEATS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
T & G WHOLESALE MEATS LIMITED
REGISTERED NUMBER: 04142491

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
737,975
750,627

  
737,975
750,627

Current assets
  

Stocks
  
58,000
90,153

Debtors: amounts falling due within one year
 5 
824,693
612,520

Cash at bank and in hand
  
48,610
234,965

  
931,303
937,638

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(923,058)
(861,291)

Net current assets
  
 
 
8,245
 
 
76,347

Total assets less current liabilities
  
746,220
826,974

Creditors: amounts falling due after more than one year
 7 
(428,648)
(455,210)

Provisions for liabilities
  

Deferred tax
 9 
(23,391)
(2,526)

  
 
 
(23,391)
 
 
(2,526)

Net assets
  
294,181
369,238


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
294,081
369,138

  
294,181
369,238


Page 1

 
T & G WHOLESALE MEATS LIMITED
REGISTERED NUMBER: 04142491

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 by: 




M S Greaves
Director

Date: 22 November 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

T & G Wholesale Meats Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04142491 and the registered office address is Unit H3 Ascot Business Park, Lyndhurst Road, Ascot, Berkshire, SL5 9FE.

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

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 3

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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 profit or loss 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.

 
2.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
1%
straight line
Plant and machinery
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
33%
on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

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 profit or loss 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.

 
2.13

Financial instruments

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.14

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 17 (2022 - 15).

Page 6

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Leasehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
660,920
42,992
117,484
3,147
824,543


Additions
-
19,948
814
-
20,762



At 31 March 2023

660,920
62,940
118,298
3,147
845,305



Depreciation


At 1 April 2022
13,205
3,010
54,554
3,147
73,916


Charge for the year on owned assets
3,305
14,173
15,936
-
33,414



At 31 March 2023

16,510
17,183
70,490
3,147
107,330



Net book value



At 31 March 2023
644,410
45,757
47,808
-
737,975



At 31 March 2022
647,715
39,982
62,930
-
750,627

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
24,031
32,041

24,031
32,041

Page 7

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
590,837
426,583

Other debtors
204,203
22,143

Prepayments and accrued income
29,653
163,794

824,693
612,520



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans and overdraft
49,636
14,088

Trade creditors
765,444
631,148

Corporation tax
72,523
61,748

Other taxation and social security
13,588
11,292

Obligations under finance lease and hire purchase contracts
8,932
15,152

Other creditors
1,969
1,427

Accruals and deferred income
10,966
126,436

923,058
861,291


The following liabilities were secured:

2023
2022
£
£



Bank loans and overdraft
49,636
14,088

Hire purchase contracts
8,932
15,152

58,568
29,240

Details of security provided:

The bank loans and hire purchase contracts are secured against the specific assets they relate to.

Page 8

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
416,174
432,718

Net obligations under finance leases and hire purchase contracts
12,474
22,492

428,648
455,210


The following liabilities were secured:

2023
2022
£
£



Bank loans
416,174
432,718

Hire purchase contracts
12,474
22,492

428,648
455,210

Details of security provided:

The bank loans and hire purchase contracts are secured against the specific assets they relate to.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
8,932
15,152

Between 1-5 years
12,474
22,492

21,406
37,644

Page 9

 
T & G WHOLESALE MEATS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation




2023


£






At beginning of year
(2,526)


Charged to profit or loss
(20,865)



At end of year
(23,391)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(23,391)
(2,526)

(23,391)
(2,526)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £7,443 (2022 - £8,611). Contributions totalling £1,969 (2022 - £1,427) were payable to the fund at the balance sheet date and are included in other creditors.


12.


Related party transactions

At the 31 March 2023, the directors owed the company £8,515 (2022: £Nil). The loan is interest free and repayable on demand.
Included in other debtors is a loan of £183,915 to Black Bear Ltd, a company under common control. The loan is interest free and repayable on demand.


13.


Controlling party

The company is controlled by the directors.


Page 10