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REGISTERED NUMBER: 00537986 (England and Wales)
















Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Swandean Fresh Meats Limited

Swandean Fresh Meats Limited (Registered number: 00537986)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Swandean Fresh Meats Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: M Lewis





REGISTERED OFFICE: Rear of Manor Parade
Salvington Road
Worthing
West Sussex
BN13 2JP





REGISTERED NUMBER: 00537986 (England and Wales)





ACCOUNTANTS: Clarke Goodhand Smith Limited
12a Marlborough Place
BRIGHTON
East Sussex
BN1 1WN

Swandean Fresh Meats Limited (Registered number: 00537986)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 64,463 75,729

CURRENT ASSETS
Stocks 31,139 32,694
Debtors 5 968,682 972,981
Cash at bank and in hand 93 13,723
999,914 1,019,398
CREDITORS
Amounts falling due within one
year

6

351,868

334,451
NET CURRENT ASSETS 648,046 684,947
TOTAL ASSETS LESS CURRENT
LIABILITIES

712,509

760,676

CREDITORS
Amounts falling due after more
than one year

7

(80,913

)

(115,549

)

PROVISIONS FOR LIABILITIES 9 (10,858 ) (12,909 )
NET ASSETS 620,738 632,218

CAPITAL AND RESERVES
Called up share capital 10 25,000 25,000
Retained earnings 11 595,738 607,218
SHAREHOLDERS' FUNDS 620,738 632,218

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Swandean Fresh Meats Limited (Registered number: 00537986)

Balance Sheet - continued
31 October 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 director and authorised for issue on 31 July 2024 and were signed by:





M Lewis - Director


Swandean Fresh Meats Limited (Registered number: 00537986)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Swandean Fresh 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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 Income Statement, 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.

Swandean Fresh Meats Limited (Registered number: 00537986)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 182,840 87,932 270,772
Additions 5,703 - 5,703
At 31 October 2023 188,543 87,932 276,475
DEPRECIATION
At 1 November 2022 137,047 57,996 195,043
Charge for year 9,485 7,484 16,969
At 31 October 2023 146,532 65,480 212,012
NET BOOK VALUE
At 31 October 2023 42,011 22,452 64,463
At 31 October 2022 45,793 29,936 75,729

Swandean Fresh Meats Limited (Registered number: 00537986)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 17,505
NET BOOK VALUE
At 31 October 2023 17,505
At 31 October 2022 17,505

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 137,077 145,511
Amounts owed by group undertakings 807,787 807,787
Other debtors 23,818 19,683
968,682 972,981

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 9,959 -
Hire purchase contracts (see note 8)
6,777

6,777
Trade creditors 139,936 116,247
Tax 6,730 23,355
Social security and other taxes 8,763 4,398
Pension Control 755 745
HSBC Invoicing 120,711 124,723
Accrued expenses 58,237 58,206
351,868 334,451

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans - 2-5 years 76,960 104,820
Hire purchase contracts (see note 8)
3,953

10,729
80,913 115,549

Swandean Fresh Meats Limited (Registered number: 00537986)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.10.23 31.10.22
£    £   
Gross obligations repayable:
Within one year 7,509 7,509
Between one and five years 4,380 11,888
11,889 19,397

Finance charges repayable:
Within one year 732 732
Between one and five years 427 1,159
1,159 1,891

Net obligations repayable:
Within one year 6,777 6,777
Between one and five years 3,953 10,729
10,730 17,506

Non-cancellable operating leases
31.10.23 31.10.22
£    £   
Between one and five years 27,500 27,500

9. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 10,858 12,909

Deferred
tax
£   
Balance at 1 November 2022 12,909
Accelerated capital allowances (2,051 )
Balance at 31 October 2023 10,858

Swandean Fresh Meats Limited (Registered number: 00537986)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
25,000 Ordinary £1 25,000 25,000

11. RESERVES
Retained
earnings
£   

At 1 November 2022 607,218
Profit for the year 20,825
Dividends (32,305 )
At 31 October 2023 595,738