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Registration number: 13217985

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Company Information

Director

Miss Karen Leriche Meyrick

Registered office

23 Park Crescent
Barry
Vale of Glamorgan
CF62 6HD

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

(Registration number: 13217985)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

1,748

Current assets

 

Stocks

6

506

5,886

Debtors

7

-

703

Cash at bank and in hand

 

24

95

 

530

6,684

Creditors: Amounts falling due within one year

8

(7,332)

(13,725)

Net current liabilities

 

(6,802)

(7,041)

Total assets less current liabilities

 

(6,802)

(5,293)

Creditors: Amounts falling due after more than one year

8

-

(2,821)

Net liabilities

 

(6,802)

(8,114)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(6,803)

(8,115)

Total equity

 

(6,802)

(8,114)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

(Registration number: 13217985)
Balance Sheet as at 29 February 2024

Approved and authorised by the director on 7 March 2024
 

.........................................
Miss Karen Leriche Meyrick
Director

   
     
 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Notes to the Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
23 Park Crescent
Barry
Vale of Glamorgan
CF62 6HD

These financial statements were authorised for issue by the director on 7 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company ceased to trade on 14 January 2024 and consequently these financial statements have not been prepared on the going concern basis. There are no debtors. Stock has been written off except to the extent it has been gifted or personally consumed after the year end.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Notes to the Financial Statements for the Year Ended 29 February 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Notes to the Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

-

512

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Notes to the Financial Statements for the Year Ended 29 February 2024

5

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2023

2,558

2,558

Disposals

(2,558)

(2,558)

At 29 February 2024

-

-

Depreciation

At 1 March 2023

810

810

Eliminated on disposal

(810)

(810)

At 29 February 2024

-

-

Carrying amount

At 29 February 2024

-

-

At 28 February 2023

1,748

1,748

6

Stocks

2024
£

2023
£

Merchandise

506

5,886

7

Debtors

2024
£

2023
£

Trade debtors

-

476

Prepayments

-

227

-

703

 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Notes to the Financial Statements for the Year Ended 29 February 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

-

3,829

Trade creditors

 

(1,300)

1,957

Taxation and social security

 

581

296

Other related parties

 

6,741

7,467

Other creditors

 

1,310

176

 

7,332

13,725

Due after one year

 

Loans and borrowings

10

-

2,821

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

-

2,821

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         
 

Vegan Butchers & Deli Ltd

trading as Karry's Deli

Notes to the Financial Statements for the Year Ended 29 February 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

2,821

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

3,829