22 false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01944246 2023-02-01 2024-01-31 01944246 2024-01-31 01944246 2023-01-31 01944246 2022-02-01 2023-01-31 01944246 2023-01-31 01944246 core:PlantMachinery 2023-02-01 2024-01-31 01944246 core:FurnitureFittings 2023-02-01 2024-01-31 01944246 core:MotorVehicles 2023-02-01 2024-01-31 01944246 bus:Director4 2023-02-01 2024-01-31 01944246 core:PlantMachinery 2023-01-31 01944246 core:FurnitureFittings 2023-01-31 01944246 core:MotorVehicles 2023-01-31 01944246 core:PlantMachinery 2024-01-31 01944246 core:FurnitureFittings 2024-01-31 01944246 core:MotorVehicles 2024-01-31 01944246 core:WithinOneYear 2024-01-31 01944246 core:WithinOneYear 2023-01-31 01944246 core:AfterOneYear 2024-01-31 01944246 core:AfterOneYear 2023-01-31 01944246 core:ShareCapital 2024-01-31 01944246 core:ShareCapital 2023-01-31 01944246 core:CapitalRedemptionReserve 2024-01-31 01944246 core:RetainedEarningsAccumulatedLosses 2024-01-31 01944246 core:RetainedEarningsAccumulatedLosses 2023-01-31 01944246 core:BetweenOneFiveYears 2024-01-31 01944246 core:BetweenOneFiveYears 2023-01-31 01944246 core:MoreThanFiveYears 2024-01-31 01944246 core:MoreThanFiveYears 2023-01-31 01944246 core:PlantMachinery 2023-01-31 01944246 core:FurnitureFittings 2023-01-31 01944246 core:MotorVehicles 2023-01-31 01944246 bus:SmallEntities 2023-02-01 2024-01-31 01944246 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 01944246 bus:FullAccounts 2023-02-01 2024-01-31 01944246 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 01944246 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01944246 core:ComputerEquipment 2023-02-01 2024-01-31 01944246 core:ComputerEquipment 2023-01-31 01944246 core:ComputerEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: 01944246
Roy Evans & Sons (Manufacturing Butchers) Limited
Filleted Unaudited Financial Statements
31 January 2024
Roy Evans & Sons (Manufacturing Butchers) Limited
Financial Statements
Year ended 31 January 2024
Contents
Pages
Balance sheet
1 to 2
Notes to the financial statements
3 to 8
Roy Evans & Sons (Manufacturing Butchers) Limited
Balance Sheet
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
103,997
118,173
Current assets
Stocks
317,755
338,924
Debtors
6
332,418
275,156
Cash at bank and in hand
525,912
390,838
------------
------------
1,176,085
1,004,918
Creditors: amounts falling due within one year
7
595,640
496,076
------------
------------
Net current assets
580,445
508,842
---------
---------
Total assets less current liabilities
684,442
627,015
Creditors: amounts falling due after more than one year
8
21,594
31,567
Provisions
Taxation including deferred tax
26,000
22,000
---------
---------
Net assets
636,848
573,448
---------
---------
Capital and reserves
Called up share capital
80
100
Capital redemption reserve
20
Profit and loss account
636,748
573,348
---------
---------
Shareholders funds
636,848
573,448
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Roy Evans & Sons (Manufacturing Butchers) Limited
Balance Sheet (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 22 April 2024 , and are signed on behalf of the board by:
Mr J Evans
Director
Company registration number: 01944246
Roy Evans & Sons (Manufacturing Butchers) Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit E2, Oldfields Business Park, Galveston Grove, Fenton, Stoke-on-Trent, Staffordshire, ST4 3PE. The company registration number is 01944246 .
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.Judgements and key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods. Revenue recognition The turnover shown in the profit and loss account represents amounts invoiced during the year, which relates to goods sold exclusive of Value Added Tax. Revenue is recognised when goods are despatched, which is the same day on which goods are delivered and hence the point at which the risks and rewards of ownership pass to the buyer. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Plant & equipment - 15% reducing balance
Fixtures & fittings - 15% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance
Depreciation is charged on additions from the month following acquisition and for disposals to the month of disposal. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and net realisable value. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition which is the purchase invoice price. Net realisable value is the estimated proceeds from the sale of stock items, less all future costs to completion, costs to be incurred in marketing, selling and distributing.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand These comprise cash at bank and other short-term highly liquid bank deposits with an original maturity of three months or less. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value. Loans Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 22 (2023: 23 ).
5. Tangible assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost
At 1 February 2023
126,127
35,776
173,544
25,456
360,903
Additions
12,248
12,248
Disposals
( 17,476)
( 17,476)
---------
--------
---------
--------
---------
At 31 January 2024
126,127
35,776
173,544
20,228
355,675
---------
--------
---------
--------
---------
Depreciation
At 1 February 2023
97,668
18,215
106,969
19,878
242,730
Charge for the year
4,266
2,641
16,652
2,157
25,716
Disposals
( 16,768)
( 16,768)
---------
--------
---------
--------
---------
At 31 January 2024
101,934
20,856
123,621
5,267
251,678
---------
--------
---------
--------
---------
Carrying amount
At 31 January 2024
24,193
14,920
49,923
14,961
103,997
---------
--------
---------
--------
---------
At 31 January 2023
28,459
17,561
66,575
5,578
118,173
---------
--------
---------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
320,749
261,941
Other debtors
11,669
13,215
---------
---------
332,418
275,156
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
223,155
174,331
Trade creditors
247,817
253,255
Corporation tax
87,087
37,000
Social security and other taxes
14,884
9,772
Other creditors
22,697
21,718
---------
---------
595,640
496,076
---------
---------
Natwest Bank PLC holds a specific equitable charge over all freehold and leasehold properties and/or the proceeds of sale thereof and fixed and floating charges over property or undertakings of Roy Evans & Sons (Manufacturing Butchers) Limited .
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
21,594
31,567
--------
--------
9. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
47,080
42,500
Later than 1 year and not later than 5 years
176,106
170,000
Later than 5 years
255,000
297,500
---------
---------
478,186
510,000
---------
---------