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REGISTERED NUMBER: SC171878 (Scotland)















Unaudited Financial Statements for the Year Ended 30th September 2023

for

Dennis Thomson (Fresh Meat) Limited

Dennis Thomson (Fresh Meat) Limited (Registered number: SC171878)






Contents of the Financial Statements
for the Year Ended 30th September 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Dennis Thomson (Fresh Meat) Limited

Company Information
for the Year Ended 30th September 2023







DIRECTORS: M A Watt
Mrs J Watt



REGISTERED OFFICE: Units 2 & 3, Block 1
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ



REGISTERED NUMBER: SC171878 (Scotland)



ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ



SOLICITORS: Gillespie Gifford & Brown
133-135
Irish Street
Dumfries
DG1 2NT

Dennis Thomson (Fresh Meat) Limited (Registered number: SC171878)

Balance Sheet
30th September 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 799,038 840,413
Investments 5 15,000 15,000
814,038 855,413

CURRENT ASSETS
Stocks 249,962 240,158
Debtors 6 573,425 440,224
Cash at bank and in hand 157,434 104,135
980,821 784,517
CREDITORS
Amounts falling due within one year 7 (518,666 ) (380,737 )
NET CURRENT ASSETS 462,155 403,780
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,276,193

1,259,193

CREDITORS
Amounts falling due after more than one year 8 (34,167 ) (58,333 )

PROVISIONS FOR LIABILITIES (31,932 ) (39,681 )
NET ASSETS 1,210,094 1,161,179

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 50,000 50,000
Retained earnings 1,159,094 1,110,179
SHAREHOLDERS' FUNDS 1,210,094 1,161,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Dennis Thomson (Fresh Meat) Limited (Registered number: SC171878)

Balance Sheet - continued
30th September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29th February 2024 and were signed on its behalf by:





M A Watt - Director


Dennis Thomson (Fresh Meat) Limited (Registered number: SC171878)

Notes to the Financial Statements
for the Year Ended 30th September 2023

1. STATUTORY INFORMATION

Dennis Thomson (Fresh Meat) Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover represents net invoiced sales of fresh and frozen foods together with cleaning and hygiene products, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

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 Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company makes regular payments into a pension scheme on behalf of some of the employees but is not contractually obliged to do so. Contributions paid in the year are charged in the profit and loss account.

Dennis Thomson (Fresh Meat) Limited (Registered number: SC171878)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
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.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade 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.

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 transactions 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.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events: it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 22 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st October 2022 605,109 830,717 1,435,826
Additions - 1,448 1,448
At 30th September 2023 605,109 832,165 1,437,274
DEPRECIATION
At 1st October 2022 - 595,413 595,413
Charge for year - 42,823 42,823
At 30th September 2023 - 638,236 638,236
NET BOOK VALUE
At 30th September 2023 605,109 193,929 799,038
At 30th September 2022 605,109 235,304 840,413

Dennis Thomson (Fresh Meat) Limited (Registered number: SC171878)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1st October 2022
and 30th September 2023 56,843
DEPRECIATION
At 1st October 2022 14,213
Charge for year 10,660
At 30th September 2023 24,873
NET BOOK VALUE
At 30th September 2023 31,970
At 30th September 2022 42,630

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st October 2022
and 30th September 2023 15,000
NET BOOK VALUE
At 30th September 2023 15,000
At 30th September 2022 15,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 459,728 347,871
Amounts owed by group undertakings 74,400 74,400
Other debtors 39,297 17,953
573,425 440,224

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 15,000 15,000
Trade creditors 413,338 328,395
Taxation and social security 69,881 16,867
Other creditors 10,447 10,475
518,666 380,737

Dennis Thomson (Fresh Meat) Limited (Registered number: SC171878)

Notes to the Financial Statements - continued
for the Year Ended 30th September 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 21,667 30,833
Hire purchase contracts 12,500 27,500
34,167 58,333

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 27,500 42,500

The hire purchase creditors are secured on the assets on which the finance is actually outstanding.

10. RELATED PARTY DISCLOSURES

The company operates a directors' current account. As at 30th September 2023 the company owed funds of £1,663 (2022 - £1,689). This sum is interest free and repayable on demand.

Dividends of £144,900 were paid to Thomson Foodservice Limited in the year.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Thomson Foodservice Limited.