Registered number
09862448
Derya Meat Ltd
Filleted Accounts
30 November 2023
Derya Meat Ltd
Registered number: 09862448
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 201,304 199,331
Current assets
Stocks 205,337 227,806
Debtors 4 277,774 35,434
Cash at bank and in hand 11,128 22,595
494,239 285,835
Creditors: amounts falling due within one year 5 (90,937) (86,914)
Net current assets 403,302 198,921
Total assets less current liabilities 604,606 398,252
Creditors: amounts falling due after more than one year 6 (38,997) (35,887)
Net assets 565,609 362,365
Capital and reserves
Called up share capital 100 100
Profit and loss account 565,509 362,265
Shareholders' funds 565,609 362,365
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.
Emrah Ozkes
Director
Approved by the board on 30 August 2024
Derya Meat Ltd
Notes to the Accounts
for the year ended 30 November 2023
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.
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:
Leasehold land and buildings Over 15 years
Plant and machinery 15% on written down value
Motor Vehicles 25% on written down value
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.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 23 21
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2022 73,500 218,211 104,099 395,810
Additions - 16,953 40,495 57,448
At 30 November 2023 73,500 235,164 144,594 453,258
Depreciation
At 1 December 2022 34,300 100,786 61,393 196,479
Charge for the year 4,900 43,076 7,499 55,475
At 30 November 2023 39,200 143,862 68,892 251,954
Net book value
At 30 November 2023 34,300 91,302 75,702 201,304
At 30 November 2022 39,200 117,425 42,706 199,331
4 Debtors 2023 2022
£ £
Trade debtors 266,823 34,269
Other debtors 10,951 1,165
277,774 35,434
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 10,505 -
Trade creditors 28,274 83,666
Corporation tax 69,905 7,107
Other taxes and social security costs (17,748) (14,366)
Other creditors 1 10,507
90,937 86,914
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 25,887 35,887
Obligations under finance lease and hire purchase contracts 13,110 -
38,997 35,887
7 Other information
Derya Meat Ltd is a private company limited by shares and incorporated in England. Its registered office is:
190 Billet Road
London
E17 5DX
8 Directors' loans and interest
As at the balance sheet date the amount outstanding to the director was £Nil
(2022 £10,507)
Derya Meat Ltd 09862448 false 2022-12-01 2023-11-30 2023-11-30 VT Final Accounts April 2024 Emrah Ozkes No description of principal activity 09862448 2021-12-01 2022-11-30 09862448 core:WithinOneYear 2022-11-30 09862448 core:AfterOneYear 2022-11-30 09862448 core:ShareCapital 2022-11-30 09862448 core:RetainedEarningsAccumulatedLosses 2022-11-30 09862448 2022-12-01 2023-11-30 09862448 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09862448 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 09862448 bus:Director40 2022-12-01 2023-11-30 09862448 core:LandBuildings 2022-12-01 2023-11-30 09862448 core:PlantMachinery 2022-12-01 2023-11-30 09862448 core:Vehicles 2022-12-01 2023-11-30 09862448 countries:England 2022-12-01 2023-11-30 09862448 bus:FRS102 2022-12-01 2023-11-30 09862448 bus:FilletedAccounts 2022-12-01 2023-11-30 09862448 2023-11-30 09862448 core:WithinOneYear 2023-11-30 09862448 core:AfterOneYear 2023-11-30 09862448 core:ShareCapital 2023-11-30 09862448 core:RetainedEarningsAccumulatedLosses 2023-11-30 09862448 core:LandBuildings 2023-11-30 09862448 core:PlantMachinery 2023-11-30 09862448 core:Vehicles 2023-11-30 09862448 2022-11-30 09862448 core:LandBuildings 2022-11-30 09862448 core:PlantMachinery 2022-11-30 09862448 core:Vehicles 2022-11-30 iso4217:GBP xbrli:pure