Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06722195 J C Hatto C J Hatto D M Hatto iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06722195 2023-03-31 06722195 2024-03-31 06722195 2023-04-01 2024-03-31 06722195 frs-core:CurrentFinancialInstruments 2024-03-31 06722195 frs-core:ComputerEquipment 2024-03-31 06722195 frs-core:ComputerEquipment 2023-04-01 2024-03-31 06722195 frs-core:ComputerEquipment 2023-03-31 06722195 frs-core:FurnitureFittings 2024-03-31 06722195 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06722195 frs-core:FurnitureFittings 2023-03-31 06722195 frs-core:NetGoodwill 2024-03-31 06722195 frs-core:NetGoodwill 2023-04-01 2024-03-31 06722195 frs-core:NetGoodwill 2023-03-31 06722195 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06722195 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-03-31 06722195 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06722195 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-31 06722195 frs-core:MotorVehicles 2024-03-31 06722195 frs-core:MotorVehicles 2023-04-01 2024-03-31 06722195 frs-core:MotorVehicles 2023-03-31 06722195 frs-core:PlantMachinery 2024-03-31 06722195 frs-core:PlantMachinery 2023-04-01 2024-03-31 06722195 frs-core:PlantMachinery 2023-03-31 06722195 frs-core:ShareCapital 2024-03-31 06722195 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06722195 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06722195 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06722195 frs-bus:SmallEntities 2023-04-01 2024-03-31 06722195 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06722195 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06722195 frs-bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06722195 frs-bus:OrdinaryShareClass1 2024-03-31 06722195 frs-bus:OrdinaryShareClass2 2023-04-01 2024-03-31 06722195 frs-bus:OrdinaryShareClass2 2024-03-31 06722195 frs-bus:OrdinaryShareClass3 2023-04-01 2024-03-31 06722195 frs-bus:OrdinaryShareClass3 2024-03-31 06722195 frs-bus:OrdinaryShareClass4 2023-04-01 2024-03-31 06722195 frs-bus:OrdinaryShareClass4 2024-03-31 06722195 frs-bus:Director1 2023-04-01 2024-03-31 06722195 frs-bus:Director2 2023-04-01 2024-03-31 06722195 frs-bus:Director3 2023-04-01 2024-03-31 06722195 frs-core:CurrentFinancialInstruments 1 2024-03-31 06722195 frs-core:CurrentFinancialInstruments 2 2024-03-31 06722195 frs-countries:EnglandWales 2023-04-01 2024-03-31 06722195 2022-03-31 06722195 2023-03-31 06722195 2022-04-01 2023-03-31 06722195 frs-core:CurrentFinancialInstruments 2023-03-31 06722195 frs-core:ShareCapital 2023-03-31 06722195 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31 06722195 frs-bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06722195 frs-bus:OrdinaryShareClass2 2022-04-01 2023-03-31 06722195 frs-bus:OrdinaryShareClass3 2022-04-01 2023-03-31 06722195 frs-bus:OrdinaryShareClass4 2022-04-01 2023-03-31 06722195 frs-core:CurrentFinancialInstruments 1 2023-03-31 06722195 frs-core:CurrentFinancialInstruments 2 2023-03-31
Registered number: 06722195
John Hatto Butchers Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 06722195
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 137,372 94,817
Investment Properties 6 465,000 465,000
602,372 559,817
CURRENT ASSETS
Stocks 7 3,773 3,000
Debtors 8 428,269 461,699
Cash at bank and in hand 1,429,583 1,204,935
1,861,625 1,669,634
Creditors: Amounts Falling Due Within One Year 9 (381,664 ) (253,210 )
NET CURRENT ASSETS (LIABILITIES) 1,479,961 1,416,424
TOTAL ASSETS LESS CURRENT LIABILITIES 2,082,333 1,976,241
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,101 ) (14,181 )
NET ASSETS 2,056,232 1,962,060
CAPITAL AND RESERVES
Called up share capital 10 301 301
Profit and Loss Account 2,055,931 1,961,759
SHAREHOLDERS' FUNDS 2,056,232 1,962,060
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J C Hatto
Director
C J Hatto
Director
12/08/2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
John Hatto Butchers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06722195 . The registered office is 116 Frimley Road, Camberley, Surrey, GU15 2QN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold n/a
Leasehold n/a
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33.33% on cost
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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2.8. 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, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash 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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, are initially recognised at transaction price unless the arrangement
constitutes 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 liabilities 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.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are
recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax
liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference
arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects
neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent
that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be
recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability
is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except
when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with
in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to
offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the
same tax authority.
2.10. Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock of fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
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2.11. Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2.12. Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 8)
10 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 40,000
As at 31 March 2024 40,000
Amortisation
As at 1 April 2023 40,000
As at 31 March 2024 40,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 - 146,167 155,408 163
Additions - 1,127 74,296 915
Disposals - - (82,880 ) -
As at 31 March 2024 - 147,294 146,824 1,078
Depreciation
As at 1 April 2023 - 80,624 126,648 41
Provided during the period - 16,644 13,381 101
Disposals - - (78,213 ) -
As at 31 March 2024 - 97,268 61,816 142
Net Book Value
As at 31 March 2024 - 50,026 85,008 936
As at 1 April 2023 - 65,543 28,760 122
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Computer Equipment Total
£ £
Cost
As at 1 April 2023 588 302,326
Additions 1,305 77,643
Disposals - (82,880 )
As at 31 March 2024 1,893 297,089
Depreciation
As at 1 April 2023 196 207,509
Provided during the period 295 30,421
Disposals - (78,213 )
As at 31 March 2024 491 159,717
Net Book Value
As at 31 March 2024 1,402 137,372
As at 1 April 2023 392 94,817
6. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 465,000
7. Stocks
2024 2023
£ £
Stock 3,773 3,000
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 209,696 176,762
Prepayments and accrued income 4,341 2,954
Other debtors 210,026 275,026
VAT 4,206 6,957
428,269 461,699
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9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 226,403 170,428
Corporation tax 86,004 80,083
PAYE control account 4,572 290
Pension control account 701 583
Accruals 54,000 1,750
Directors' loan accounts 9,984 76
381,664 253,210
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
100 Ordinary A shares of £ 1.00 each 100 100
100 Ordinary B shares of £ 1.00 each 100 100
1 Ordinary C shares of £ 1.00 each 1 1
301 301
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