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REGISTERED NUMBER: SC293866 (Scotland)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

W J MACDONALD (BUTCHERS) LTD

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 10

W J MACDONALD (BUTCHERS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: J A Smith
R Smith
R Smith



REGISTERED OFFICE: 5 Francis Street
Stornoway
Isle of Lewis
HS1 2XD



REGISTERED NUMBER: SC293866 (Scotland)



ACCOUNTANTS: CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS



BANKERS: Royal Bank of Scotland
17 North Beach Street
Stornoway
Isle of Lewis
HS1 2XH

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

BALANCE SHEET
30 NOVEMBER 2023

30.11.22 30.11.23
£    £    Notes £    £   
FIXED ASSETS
18,000 Intangible assets 4 12,000
207,772 Tangible assets 5 206,005
225,772 218,005

CURRENT ASSETS
32,090 Stocks 46,850
170,876 Debtors 6 175,231
2,140 Cash in hand 3,431
205,106 225,512
CREDITORS
375,038 Amounts falling due within one year 7 400,551
(169,932 ) NET CURRENT LIABILITIES (175,039 )
55,840 TOTAL ASSETS LESS CURRENT
LIABILITIES

42,966

CREDITORS
500 Amounts falling due after more than one year 8 7,250
55,340 NET ASSETS 35,716

CAPITAL AND RESERVES
6 Called up share capital 6
35,000 Revaluation reserve 10 35,000
20,334 Retained earnings 710
55,340 SHAREHOLDERS' FUNDS 35,716

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

BALANCE SHEET - continued
30 NOVEMBER 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 22 August 2024 and were signed on its behalf by:





R Smith - Director


W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

W J Macdonald (Butchers) Ltd is a private company, limited by shares , registered in Scotland. 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 (£).


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 as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions that affect the amounts reported for assets, liabilities, income and expenditure.

The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in future periods should it affect future periods.

The estimates and assumptions which carry a higher degree of risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Useful economic lives of tangible fixed assets
The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. They are amended when necessary to reflect current estimates, future investment, economic utilisation and the physical condition of the assets. See the notes for details of the values of tangible fixed assets.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance and 20% 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.

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section
12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set of the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle to liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and preference shares that are classified as debt are initially recognised at transaction price unless the arrangement constitues a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial instruments classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 120,000
AMORTISATION
At 1 December 2022 102,000
Charge for year 6,000
At 30 November 2023 108,000
NET BOOK VALUE
At 30 November 2023 12,000
At 30 November 2022 18,000

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
Totals buildings etc
£    £    £   
COST OR VALUATION
At 1 December 2022 306,840 185,000 121,840
Additions 3,720 - 3,720
At 30 November 2023 310,560 185,000 125,560
DEPRECIATION
At 1 December 2022 99,068 - 99,068
Charge for year 5,487 - 5,487
At 30 November 2023 104,555 - 104,555
NET BOOK VALUE
At 30 November 2023 206,005 185,000 21,005
At 30 November 2022 207,772 185,000 22,772

Cost or valuation at 30 November 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2012 35,000 - 35,000
Cost 150,000 125,560 275,560
185,000 125,560 310,560

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 150,000 150,000

Freehold land and buildings were valued on an open market basis on 25 February 2013 by Torrance Partnership LLP .

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 December 2022
and 30 November 2023 13,200
DEPRECIATION
At 1 December 2022 2,640
Charge for year 2,112
At 30 November 2023 4,752
NET BOOK VALUE
At 30 November 2023 8,448
At 30 November 2022 10,560

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 47,512 38,665
Other debtors 127,719 132,211
175,231 170,876

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 23,158 15,982
Trade creditors 215,055 167,222
Taxation and social security 88,370 117,959
Other creditors 73,968 73,875
400,551 375,038

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Other creditors 7,250 500

W J MACDONALD (BUTCHERS) LTD (REGISTERED NUMBER: SC293866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank overdrafts 23,158 15,982

The bank overdraft and loan are secured by a bond and floating charge over the assets of the company and standard security over the property at 5 Francis Street, Stornoway, Isle of Lewis.

10. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 35,000

11. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the directors; John A, Robert and Roderick Smith.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
W J MACDONALD (BUTCHERS) LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W J Macdonald (Butchers) Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of W J Macdonald (Butchers) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W J Macdonald (Butchers) Ltd and state those matters that we have agreed to state to the Board of Directors of W J Macdonald (Butchers) Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that W J Macdonald (Butchers) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of W J Macdonald (Butchers) Ltd. You consider that W J Macdonald (Butchers) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of W J Macdonald (Butchers) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






CIB Services
Chartered Accountants
63 Kenneth Street
Stornoway
Isle of Lewis
Western Isles
HS1 2DS


22 August 2024