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REGISTERED NUMBER: 04526104 (England and Wales)














LAY'S WHOLESALE MEATS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023






LAY'S WHOLESALE MEATS LIMITED (REGISTERED NUMBER: 04526104)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAY'S WHOLESALE MEATS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: T V Lay
Mrs J B Lay
D T Lay





SECRETARY: D T Lay





REGISTERED OFFICE: 216 Wolseley Court
Towers Plaza
Wheelhouse Road, Brereton
Rugeley
Staffordshire
WS15 1UW





REGISTERED NUMBER: 04526104 (England and Wales)





ACCOUNTANTS: BK Plus Limited
Chartered Certified Accountants
Churchfield House
36 Vicar Street
Dudley
West Midlands
DY2 8RG

LAY'S WHOLESALE MEATS LIMITED (REGISTERED NUMBER: 04526104)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 247,576 253,286

CURRENT ASSETS
Stocks 76,623 90,092
Debtors 5 207,135 203,629
Cash at bank 496,350 400,774
780,108 694,495
CREDITORS
Amounts falling due within one year 6 94,331 102,631
NET CURRENT ASSETS 685,777 591,864
TOTAL ASSETS LESS CURRENT
LIABILITIES

933,353

845,150

PROVISIONS FOR LIABILITIES 22,611 22,707
NET ASSETS 910,742 822,443

CAPITAL AND RESERVES
Called up share capital 7 262,163 262,163
Retained earnings 648,579 560,280
SHAREHOLDERS' FUNDS 910,742 822,443

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

LAY'S WHOLESALE MEATS LIMITED (REGISTERED NUMBER: 04526104)

BALANCE SHEET - continued
31ST DECEMBER 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 Board of Directors and authorised for issue on 29th February 2024 and were signed on its behalf by:





D T Lay - Director


LAY'S WHOLESALE MEATS LIMITED (REGISTERED NUMBER: 04526104)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Lay's Wholesale Meats 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The financial statements are rounded to the nearest £.

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.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and have been consistently applied within the same accounts.

Turnover
Turnover represents invoiced sales of goods.

Turnover is recognised at the point of sale or when good have been delivered to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 25 years
Plant and machinery etc - 33% on cost, 25% on reducing balance, 15% on reducing balance, 2% reducing balance and 25% straight lin and Straight line over 10 years

Tangible fixed assets are stated at cost less depreciation and impairment.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, 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 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.

LAY'S WHOLESALE MEATS LIMITED (REGISTERED NUMBER: 04526104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

Cash and cash equivalents
Cash and cash equivalents includes deposits held at call at banks.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2023 137,417 239,391 376,808
Additions - 40,975 40,975
Disposals - (23,590 ) (23,590 )
At 31st December 2023 137,417 256,776 394,193
DEPRECIATION
At 1st January 2023 16,490 107,032 123,522
Charge for year 5,497 32,357 37,854
Eliminated on disposal - (14,759 ) (14,759 )
At 31st December 2023 21,987 124,630 146,617
NET BOOK VALUE
At 31st December 2023 115,430 132,146 247,576
At 31st December 2022 120,927 132,359 253,286

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 197,008 195,060
Other debtors 10,127 8,569
207,135 203,629

LAY'S WHOLESALE MEATS LIMITED (REGISTERED NUMBER: 04526104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 20 -
Taxation and social security 62,612 32,040
Other creditors 31,699 70,591
94,331 102,631

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
262,163 Share capital 1 £1 262,163 262,163