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REGISTERED NUMBER: 04793956 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

G Simpson Butchers Limited

G Simpson Butchers Limited (Registered number: 04793956)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 8

G Simpson Butchers Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr G Simpson





SECRETARY: Mrs S M Simpson





REGISTERED OFFICE: 11 Cameron Street
Heckington
Sleaford
Lincolnshire
NG34 9RW





REGISTERED NUMBER: 04793956 (England and Wales)





ACCOUNTANTS: Prestige Accounting Limited T/A Simon Moss & Co
The Finance Centre
34a Southgate
Sleaford
Lincolnshire
NG34 7RY

G Simpson Butchers Limited (Registered number: 04793956)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 65,810 95,463
Investments 6 642,669 729,430
708,479 824,893

CURRENT ASSETS
Stocks 60,000 90,000
Debtors 7 2,092,006 1,783,647
Cash at bank and in hand 151,606 138,919
2,303,612 2,012,566
CREDITORS
Amounts falling due within one year 8 494,926 584,663
NET CURRENT ASSETS 1,808,686 1,427,903
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,517,165

2,252,796

PROVISIONS FOR LIABILITIES 16,128 20,103
NET ASSETS 2,501,037 2,232,693

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,501,035 2,232,691
SHAREHOLDERS' FUNDS 2,501,037 2,232,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

G Simpson Butchers Limited (Registered number: 04793956)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2024 and were signed by:





Mr G Simpson - Director


G Simpson Butchers Limited (Registered number: 04793956)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

G Simpson Butchers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

G Simpson Butchers Limited (Registered number: 04793956)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 15,230
AMORTISATION
At 1 August 2022
and 31 July 2023 15,230
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 August 2022 61,466 913,681 58,680 1,033,827
Disposals - - (29,190 ) (29,190 )
At 31 July 2023 61,466 913,681 29,490 1,004,637
DEPRECIATION
At 1 August 2022 60,646 832,963 44,755 938,364
Charge for year 820 20,180 1,726 22,726
Eliminated on disposal - - (22,263 ) (22,263 )
At 31 July 2023 61,466 853,143 24,218 938,827
NET BOOK VALUE
At 31 July 2023 - 60,538 5,272 65,810
At 31 July 2022 820 80,718 13,925 95,463

G Simpson Butchers Limited (Registered number: 04793956)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 August 2022 831,402
Additions 99,169
Disposals (161,815 )
At 31 July 2023 768,756
PROVISIONS
At 1 August 2022 101,972
Provision for year (6,631 )
Provision written back 30,746
At 31 July 2023 126,087
NET BOOK VALUE
At 31 July 2023 642,669
At 31 July 2022 729,430

Cost or valuation at 31 July 2023 is represented by:

Other
investments
£   
Cost 768,756

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.7.23 31.7.22
£    £   
Cost 768,756 831,402
Aggregate provisions (126,087 ) (101,972 )

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 68,330 33,972
Other debtors 2,023,676 1,749,675
2,092,006 1,783,647

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 165,058 264,222
Taxation and social security 297,464 272,926
Other creditors 32,404 47,515
494,926 584,663

G Simpson Butchers Limited (Registered number: 04793956)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

9. OTHER FINANCIAL COMMITMENTS

The company had outstanding commitments in respect of operating leases at 31 July 2023 of £66,775 (2022 - £53,950).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Mr G Simpson
Balance outstanding at start of year 1,261,761 649,115
Amounts advanced 229,784 612,646
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,491,545 1,261,761

G Simpson Butchers Limited

Report of the Accountants to the Director of
G Simpson Butchers Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Prestige Accounting Limited T/A Simon Moss & Co
The Finance Centre
34a Southgate
Sleaford
Lincolnshire
NG34 7RY


23 April 2024