Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31No description of principal activity2022-11-0130false30truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07753274 2022-11-01 2023-10-31 07753274 2021-11-01 2022-10-31 07753274 2023-10-31 07753274 2022-10-31 07753274 2021-11-01 07753274 c:Director1 2022-11-01 2023-10-31 07753274 d:Buildings 2022-11-01 2023-10-31 07753274 d:Buildings 2023-10-31 07753274 d:Buildings 2022-10-31 07753274 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07753274 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 07753274 d:Buildings d:LongLeaseholdAssets 2023-10-31 07753274 d:Buildings d:LongLeaseholdAssets 2022-10-31 07753274 d:PlantMachinery 2022-11-01 2023-10-31 07753274 d:PlantMachinery 2023-10-31 07753274 d:PlantMachinery 2022-10-31 07753274 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07753274 d:MotorVehicles 2022-11-01 2023-10-31 07753274 d:MotorVehicles 2023-10-31 07753274 d:MotorVehicles 2022-10-31 07753274 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07753274 d:FurnitureFittings 2022-11-01 2023-10-31 07753274 d:FurnitureFittings 2023-10-31 07753274 d:FurnitureFittings 2022-10-31 07753274 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07753274 d:OfficeEquipment 2022-11-01 2023-10-31 07753274 d:OfficeEquipment 2023-10-31 07753274 d:OfficeEquipment 2022-10-31 07753274 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07753274 d:ComputerEquipment 2022-11-01 2023-10-31 07753274 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 07753274 d:Goodwill 2022-11-01 2023-10-31 07753274 d:Goodwill 2023-10-31 07753274 d:Goodwill 2022-10-31 07753274 d:CurrentFinancialInstruments 2023-10-31 07753274 d:CurrentFinancialInstruments 2022-10-31 07753274 d:Non-currentFinancialInstruments 2023-10-31 07753274 d:Non-currentFinancialInstruments 2022-10-31 07753274 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 07753274 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 07753274 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 07753274 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 07753274 d:ShareCapital 2023-10-31 07753274 d:ShareCapital 2022-10-31 07753274 d:RetainedEarningsAccumulatedLosses 2023-10-31 07753274 d:RetainedEarningsAccumulatedLosses 2022-10-31 07753274 c:OrdinaryShareClass1 2022-11-01 2023-10-31 07753274 c:OrdinaryShareClass1 2023-10-31 07753274 c:OrdinaryShareClass1 2022-10-31 07753274 c:OrdinaryShareClass2 2022-11-01 2023-10-31 07753274 c:OrdinaryShareClass2 2023-10-31 07753274 c:OrdinaryShareClass2 2022-10-31 07753274 c:OrdinaryShareClass3 2022-11-01 2023-10-31 07753274 c:OrdinaryShareClass3 2023-10-31 07753274 c:OrdinaryShareClass3 2022-10-31 07753274 c:OrdinaryShareClass4 2022-11-01 2023-10-31 07753274 c:OrdinaryShareClass4 2023-10-31 07753274 c:OrdinaryShareClass4 2022-10-31 07753274 c:OrdinaryShareClass5 2022-11-01 2023-10-31 07753274 c:OrdinaryShareClass5 2023-10-31 07753274 c:OrdinaryShareClass5 2022-10-31 07753274 c:FRS102 2022-11-01 2023-10-31 07753274 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 07753274 c:FullAccounts 2022-11-01 2023-10-31 07753274 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 07753274 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 07753274 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 07753274 d:TaxLossesCarry-forwardsDeferredTax 2023-10-31 07753274 d:TaxLossesCarry-forwardsDeferredTax 2022-10-31 07753274 d:Goodwill d:OwnedIntangibleAssets 2022-11-01 2023-10-31 07753274 e:PoundSterling 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07753274










THATCHAM BUTCHERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

 
THATCHAM BUTCHERS LIMITED
REGISTERED NUMBER: 07753274

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
129,999
146,249

Tangible assets
 5 
1,054,129
414,539

  
1,184,128
560,788

Current liablities
  

Stocks
 6 
240,000
227,313

Debtors: amounts falling due after more than one year
 7 
349,826
-

Debtors: amounts falling due within one year
 7 
700,854
777,176

Cash at bank and in hand
 8 
880,924
1,029,489

Current liablities
  
2,171,604
2,033,978

Creditors: amounts falling due within one year
 9 
(963,990)
(816,844)

Net current assets
  
 
 
1,207,614
 
 
1,217,134

Total assets less current liabilities
  
2,391,742
1,777,922

Creditors: amounts falling due after more than one year
 10 
(9,438)
-

Provisions for liabilities
  

Deferred tax
 11 
(72,768)
(92,576)

  
 
 
(72,768)
 
 
(92,576)

Net assets
  
2,309,536
1,685,346


Capital and reserves
  

Called up share capital 
 12 
200
200

Profit and loss account
  
2,309,336
1,685,146

  
2,309,536
1,685,346


Page 1

 
THATCHAM BUTCHERS LIMITED
REGISTERED NUMBER: 07753274

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G Wilks
Director

Date: 26 March 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Thatcham Butchers Limited is a private company, limited by share capital and incorporated in England and Wales. 
The Company's registered office and principal place of business is Unit 8B Arnhem Road, Newbury, Berkshire, RG14 5RU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 3

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is provided at the following rates:
Goodwill - 5% straight line

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on varying basis.

Depreciation is provided on the following basis:

Freehold property
-
Improvements to property
-
25% Straight line
Plant & machinery
-
15% Reducing balance
Motor vehicles
-
25% Reducing balance
Fixtures & fittings
-
15% Reducing balance
Computer equipment
-
15% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

  
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liablities like trade and other debtors and creditors, loans from banks and other third partied, loans to related parties and investments in ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2022 - 30).

Page 6

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 November 2022
325,000



At 31 October 2023

325,000



Amortisation


At 1 November 2022
178,751


Charge for the year on owned assets
16,250



At 31 October 2023

195,001



Net book value



At 31 October 2023
129,999



At 31 October 2022
146,249



Page 7

 


 
THATCHAM BUTCHERS LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


5.


Tangible fixed assets






Freehold property
Improvements to property
Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 November 2022
-
200,981
152,608
373,441
13,646
59,118
799,794


Additions
664,149
65,586
26,423
26,702
5,258
2,410
790,528


Disposals
-
-
(585)
(119,442)
-
(8,855)
(128,882)



At 31 October 2023

664,149
266,567
178,446
280,701
18,904
52,673
1,461,440



Depreciation


At 1 November 2022
-
170,589
56,727
128,871
7,374
21,694
385,255


Charge for the year on owned assets
-
24,401
16,740
80,527
1,490
7,645
130,803


Disposals
-
-
(585)
(99,307)
-
(8,855)
(108,747)



At 31 October 2023

-
194,990
72,882
110,091
8,864
20,484
407,311



Net book value



At 31 October 2023
664,149
71,577
105,564
170,610
10,040
32,189
1,054,129



At 31 October 2022
-
30,392
95,881
244,570
6,272
37,424
414,539

The net book value of assets held under finance leases or hire purchase contracts, included above totals £22,252 (2022: £nil).

Page 8

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
240,000
227,313

240,000
227,313



7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
349,826
-

349,826
-


2023
2022
£
£

Trade debtors
632,527
734,100

Other debtors
39,999
17,794

Prepayments and accrued income
28,328
25,282

700,854
777,176



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
880,924
1,029,489

880,924
1,029,489


Page 9

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
482,605
487,612

Corporation tax
286,112
170,865

Other taxation and social security
20,794
21,029

Obligations under finance lease and hire purchase contracts
8,284
-

Other creditors
8,149
9,210

Accruals and deferred income
158,046
128,128

963,990
816,844



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
9,438
-

9,438
-



11.


Deferred taxation




2023
2022


£

£






At beginning of year
(92,576)
(39,574)


Charged to profit or loss
19,808
(53,002)



At end of year
(72,768)
(92,576)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(72,768)
(92,912)

Short term timing differences
-
336

(72,768)
(92,576)

Page 10

 
THATCHAM BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

12.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) A shares of £1 each
100
100
49 (2022 - 49) B shares of £1 each
49
49
49 (2022 - 49) C shares of £1 each
49
49
1 (2022 - 1) D share of £1
1
1
1 (2022 - 1) E share of £1
1
1

200

200



13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £15,452 (2022 - £10,774). Contributions totalling £3,102 (2022 - £3,604) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

At the year end a balance of £363,838 (2022: £nil) was due from a Company under the control of certain directors.


15.


Controlling party

The Company is controlled by its directors.


Page 11