Registered number
09687283
Withington Meats Ltd
Filleted Accounts
31 July 2023
Withington Meats Ltd
Registered number: 09687283
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 57,900 57,900
Tangible assets 4 138,645 134,378
196,545 192,278
Current assets
Stocks 10,316 12,104
Debtors 5 848,776 598,583
Cash at bank and in hand 163,111 212,528
1,022,203 823,215
Creditors: amounts falling due within one year 6 (587,680) (579,722)
Net current assets 434,523 243,493
Total assets less current liabilities 631,068 435,771
Creditors: amounts falling due after more than one year 7 (55,399) (81,871)
Net assets 575,669 353,900
Capital and reserves
Called up share capital 100 100
Profit and loss account 575,569 353,800
Shareholders' funds 575,669 353,900
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yassin El-Ali
Director
Approved by the board on 1 September 2023
Withington Meats Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vans 20% reducing balance
Fixtures, fittings and equipment 15% reducing balance
Computer equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 12 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2022 57,900
At 31 July 2023 57,900
Amortisation
At 31 July 2023 -
Net book value
At 31 July 2023 57,900
At 31 July 2022 57,900
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computer equipment Fixture, fittings and equipment Vans Total
£ £ £ £
Cost
At 1 August 2022 1,049 141,882 60,550 203,481
Additions - 12,450 31,975 44,425
Disposals - - (23,625) (23,625)
At 31 July 2023 1,049 154,332 68,900 224,281
Depreciation
At 1 August 2022 592 40,095 28,416 69,103
Charge for the year 114 17,136 4,638 21,888
On disposals - - (5,355) (5,355)
At 31 July 2023 706 57,231 27,699 85,636
Net book value
At 31 July 2023 343 97,101 41,201 138,645
At 31 July 2022 457 101,787 32,134 134,378
5 Debtors 2023 2022
£ £
Trade debtors 361,884 530,799
Loan to associate companies 468,498 60,000
Other debtors 18,394 7,784
848,776 598,583
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 489,457 491,110
Taxation and social security costs 79,079 68,806
Accruals 19,144 19,806
587,680 579,722
7 Creditors: amounts falling due after one year 2023 2022
£ £
Private loans 20,000 20,000
Obligations under finance lease and hire purchase contracts - 14,946
Trade creditors 35,000 45,000
Direvtor loan 399 1,925
55,399 81,871
8 Other information
Withington Meats Ltd is a private company limited by shares and incorporated in England. Its registered office is:
511 Wilmslow Road
Manchester
M20 4BA
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