Registered number
03128086
Black Mountains Smokery Limited
Unaudited Filleted Accounts
31 January 2024
Black Mountains Smokery Limited
Registered number: 03128086
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 1,750
Tangible assets 4 19,165 23,859
19,165 25,609
Current assets
Stocks 42,451 53,168
Debtors 5 20,969 33,563
Cash at bank and in hand 105,936 91,688
169,356 178,419
Creditors: amounts falling due within one year 6 (40,203) (55,365)
Net current assets 129,153 123,054
Total assets less current liabilities 148,318 148,663
Creditors: amounts falling due after more than one year 7 (15,000) (25,000)
Provisions for liabilities (2,977) (2,657)
Net assets 130,341 121,006
Capital and reserves
Called up share capital 2 2
Profit and loss account 130,339 121,004
Shareholders' funds 130,341 121,006
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.
Jonathan Carthew
Director
Approved by the board on 16 April 2024
Black Mountains Smokery Limited
Notes to the Accounts
for the year ended 31 January 2024
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:
Plant and equipment 25% reducing balance
Motor vehicles 25% reducing balance
Office equipment 25% reducing balance
Website development 3 years
Leasehold improvements over 5 years
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.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 5,000
At 31 January 2024 5,000
Amortisation
At 1 February 2023 3,250
Provided during the year 1,750
At 31 January 2024 5,000
Net book value
At 31 January 2024 -
At 31 January 2023 1,750
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Leasehold land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 20,556 131,654 152,210
Additions - 1,693 1,693
At 31 January 2024 20,556 133,347 153,903
Depreciation
At 1 February 2023 14,404 113,947 128,351
Charge for the year 1,538 4,849 6,387
At 31 January 2024 15,942 118,796 134,738
Net book value
At 31 January 2024 4,614 14,551 19,165
At 31 January 2023 6,152 17,707 23,859
5 Debtors 2024 2023
£ £
Trade debtors 11,348 15,615
VAT Debtor 8,162 10,479
Other debtors 1,459 7,469
20,969 33,563
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 16,640 23,291
Taxation and social security costs 7,756 6,251
Other creditors 5,807 15,823
40,203 55,365
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,000 25,000
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 5,246 9,354
9 Related party transactions
None noted that were not at market rate.
9 Transactions with directors
During the year both directors used a current account with the company to record amounts due to them and amounts drawn by them. The amount owed to Mr Jonathan Carthew and Mrs Joanna Carthew, and included in other creditors as at 31 January 2024 was £3,008.39 (2023: £12,880.23). The amount is repayable on demand and carries interest.
10 Controlling party
Mr Jonathan Carthew owns 50% & Mrs Joanna Carthew owns 50% of the share capital of the company and both are also directors of the company. Therefore they are jointly the controlling party of Black Mountains Smokery Limited.
11 Other information
Black Mountains Smokery Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Penyrheol
Llanbedr
Crickhowell
Powys
NP8 1TA
Black Mountains Smokery Limited 03128086 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts April 2024 Jonathan Carthew No description of principal activity 03128086 2022-02-01 2023-01-31 03128086 core:WithinOneYear 2023-01-31 03128086 core:AfterOneYear 2023-01-31 03128086 core:ShareCapital 2023-01-31 03128086 core:RetainedEarningsAccumulatedLosses 2023-01-31 03128086 core:AllPeriods 2023-01-31 03128086 2023-02-01 2024-01-31 03128086 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 03128086 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 03128086 bus:Director40 2023-02-01 2024-01-31 03128086 1 2023-02-01 2024-01-31 03128086 2 2023-02-01 2024-01-31 03128086 core:Goodwill 2023-02-01 2024-01-31 03128086 core:LandBuildings 2023-02-01 2024-01-31 03128086 core:PlantMachinery 2023-02-01 2024-01-31 03128086 countries:England 2023-02-01 2024-01-31 03128086 bus:FRS102 2023-02-01 2024-01-31 03128086 bus:FilletedAccounts 2023-02-01 2024-01-31 03128086 2024-01-31 03128086 core:WithinOneYear 2024-01-31 03128086 core:AfterOneYear 2024-01-31 03128086 core:ShareCapital 2024-01-31 03128086 core:RetainedEarningsAccumulatedLosses 2024-01-31 03128086 core:Goodwill 2024-01-31 03128086 core:LandBuildings 2024-01-31 03128086 core:PlantMachinery 2024-01-31 03128086 core:AllPeriods 2024-01-31 03128086 2023-01-31 03128086 core:Goodwill 2023-01-31 03128086 core:LandBuildings 2023-01-31 03128086 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure