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REGISTERED NUMBER: 04538127 (England and Wales)












Financial Statements

for the Period

1 October 2022 to 31 March 2024

for

Honeywell Meats Ltd

Honeywell Meats Ltd (Registered number: 04538127)

Contents of the Financial Statements
for the Period 1 October 2022 to 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Honeywell Meats Ltd

Company Information
for the Period 1 October 2022 to 31 March 2024







DIRECTORS: Mr AF Gornall
Mr JP Gornall
Mrs SY Gornall
Mrs S Gornall





SECRETARIES: Mrs S Gornall
Mr JP Gornall





REGISTERED OFFICE: Honeywell
Eaves Lane
Woodplumpton
Preston
Lancashire
PR4 0BH





REGISTERED NUMBER: 04538127 (England and Wales)





ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ

Honeywell Meats Ltd (Registered number: 04538127)

Balance Sheet
31 March 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 392,662 537,697

CURRENT ASSETS
Stocks 63,960 172,920
Debtors 5 1,232,922 860,058
Cash at bank and in hand 133,365 333,048
1,430,247 1,366,026
CREDITORS
Amounts falling due within one year 6 531,510 483,424
NET CURRENT ASSETS 898,737 882,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,291,399

1,420,299

PROVISIONS FOR LIABILITIES 82,017 88,637
NET ASSETS 1,209,382 1,331,662

CAPITAL AND RESERVES
Called up share capital 1,080 1,080
Retained earnings 1,208,302 1,330,582
SHAREHOLDERS' FUNDS 1,209,382 1,331,662

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 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.

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 7 August 2024 and were signed on its behalf by:




Mr AF Gornall - Director Mr JP Gornall - Director



Mrs SY Gornall - Director Mrs S Gornall - Director


Honeywell Meats Ltd (Registered number: 04538127)

Notes to the Financial Statements
for the Period 1 October 2022 to 31 March 2024


1. STATUTORY INFORMATION

Honeywell Meats Ltd 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.
Long leasehold - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

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 period 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 period 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.

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 period was 68 (2022 - 75 ) .

Honeywell Meats Ltd (Registered number: 04538127)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2022 35,380 2,077,133 2,112,513
Additions - 15,998 15,998
At 31 March 2024 35,380 2,093,131 2,128,511
DEPRECIATION
At 1 October 2022 8,670 1,566,146 1,574,816
Charge for period 2,671 158,362 161,033
At 31 March 2024 11,341 1,724,508 1,735,849
NET BOOK VALUE
At 31 March 2024 24,039 368,623 392,662
At 30 September 2022 26,710 510,987 537,697

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 1,199,132 816,476
Provision for bad debt (20,989 ) -
Other debtors 26,760 15,274
Prepayments and accrued income 28,019 28,308
1,232,922 860,058

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade creditors 344,024 425,259
Family loan account 52,000 -
Corporation tax 73,234 1,425
Social security and other taxes 21,153 25,686
Other creditors - 1,437
Directors' current accounts 29,499 6,617
Accrued expenses 11,600 23,000
531,510 483,424

Honeywell Meats Ltd (Registered number: 04538127)

Notes to the Financial Statements - continued
for the Period 1 October 2022 to 31 March 2024


7. RELATED PARTY DISCLOSURES

Honeywell Meats Partnership

The directors are also partners in Honeywell Meats Partnership, to whom the company pays a rent for the business premises from which it operates. The company also trades with the partnership on normal commercial terms. The amounts transacted during the year were:-
2024 2022
£ £
Purchases from HMP:
Rent 90,000 60,000
Livestock purchases 1,439,553 1,065,157
Wood purchases 44,428 18,990

At the year end there were balances owed to HMP as follows:
Trade creditors nil nil

Sales to HMP:
Meat sales etc 1,805,516 1,585,045
Payroll and management recharged 298,061 193,807
Other costs recharged 20,000 nil

At the year end there were balances due from HMP as follows:
Trade debtors 888,021 611,900


8. RELATED PARTY DISCLOSURES

At the year end, the company owed £29,499 (2022: £6618) to the directors. Interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.