Registered number
06663386
Best Meat (UK) Limited
Filleted Accounts
31 March 2023
Best Meat (UK) Limited
Registered number: 06663386
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,120,379 1,031,964
Current assets
Stocks 182,450 98,220
Debtors 4 236,021 401,622
Cash at bank and in hand 1,004,570 15,209
1,423,041 515,051
Creditors: amounts falling due within one year 5 (777,932) (307,548)
Net current assets 645,109 207,503
Total assets less current liabilities 1,765,488 1,239,467
Creditors: amounts falling due after more than one year 6 (87,895) (68,803)
Net assets 1,677,593 1,170,664
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,677,493 1,170,564
Shareholders' funds 1,677,593 1,170,664
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.
Kemal Buyukmizmilli
Director
Approved by the board on 16 February 2024
Best Meat (UK) Limited
Notes to the Accounts
for the year ended 31 March 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Government grants
Grants received during the year from the government are recognised as other income. This income is recognised when the application is made to the local authority after receiving confirmation of entitlement from them. There would either be a debtor, a deferred income or no balance due recognised depending upon when the cash was received from the local authority. The grants received in the year include Coronavirus Job Retention Scheme (CJRS). CJRS is recognised on a straight line basis, accrued over the furlough period for each relevant employee on the PAYE payroll scheme. Cash payments were received from HMRC.
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:
Leasehold land and buildings over the lease term
Plant and machinery 15% reducing balance
Motor vehicles 15% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and directors and has adequate resources to continue in operational existence for the foreseeable future.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 38 65
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 1,144,331 250,880 1,395,211
Additions 194,611 91,518 286,129
At 31 March 2023 1,338,942 342,398 1,681,340
Depreciation
At 1 April 2022 325,529 37,718 363,247
Charge for the year 152,012 45,702 197,714
At 31 March 2023 477,541 83,420 560,961
Net book value
At 31 March 2023 861,401 258,978 1,120,379
At 31 March 2022 818,802 213,162 1,031,964
4 Debtors 2023 2022
£ £
Trade debtors 155,434 330,072
Amounts owed by group undertakings and undertakings in which the company has a participating interest 19,070 19,070
Other debtors 61,517 52,480
236,021 401,622
Other debtors include VAT refund of £46,331 (2022 - £nil) owed by HMRC.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 595,326 161,787
Taxation and social security costs 87,225 75,335
Other creditors 95,381 70,426
777,932 307,548
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 64,460 45,368
Obligations under finance lease and hire purchase contracts 23,435 23,435
87,895 68,803
7 Related party transactions
Included within other creditors is a directors' loan of £19,390 (2022 - £19,390).

Included within other debtors is a balance of £19,070 (2022 - £19,070) owed by Kem&Hus Enterprise Ltd, a company with common directorship.
8 Controlling party
Kemal Buyukmizmilli is the ultimate controlling party.
9 Other information
Best Meat (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4-8 Universal Crescent
North Anston
Sheffield
S25 4NZ
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