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REGISTERED NUMBER: 03550316 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CHOICE MEATS CATERING LIMITED

CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


CHOICE MEATS CATERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A Edwards
Mrs A M Edwards





SECRETARY: Mrs A M Edwards





REGISTERED OFFICE: 220 Dickson Road
Blackpool
Lancashire
FY1 2JS





REGISTERED NUMBER: 03550316 (England and Wales)





ACCOUNTANTS: Poole Waterfield Limited
Ground Floor
Custom House
Waterfront East
Brierley Hill
West Midlands
DY5 1XH

CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 613,371 669,872
Investment property 5 295,000 295,000
908,371 964,872

CURRENT ASSETS
Stocks 122,600 128,700
Debtors 6 858,765 732,038
Cash at bank and in hand 733,662 811,592
1,715,027 1,672,330
CREDITORS
Amounts falling due within one year 7 468,931 542,195
NET CURRENT ASSETS 1,246,096 1,130,135
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,154,467

2,095,007

PROVISIONS FOR LIABILITIES 47,999 54,411
NET ASSETS 2,106,468 2,040,596

CAPITAL AND RESERVES
Called up share capital 9 20,100 20,100
Retained earnings 10 2,086,368 2,020,496
SHAREHOLDERS' FUNDS 2,106,468 2,040,596

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)

BALANCE SHEET - continued
31 DECEMBER 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:





A Edwards - Director


CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Choice Meats Catering 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 as modified by the revaluation of certain assets.

The financial statements have been prepared on the going concern basis.

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.
Freehold buildings - 2% on cost
Improvements to leasehold property - 4% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Investment properties are not depreciated.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

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 28 (2022 - 28 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to
Freehold leasehold Plant and
buildings property machinery
£    £    £   
COST
At 1 January 2023 428,210 183,046 547,045
Additions - - 11,850
Disposals - - (342,797 )
At 31 December 2023 428,210 183,046 216,098
DEPRECIATION
At 1 January 2023 133,536 15,232 456,868
Charge for year 7,442 7,322 46,833
Eliminated on disposal - - (342,797 )
At 31 December 2023 140,978 22,554 160,904
NET BOOK VALUE
At 31 December 2023 287,232 160,492 55,194
At 31 December 2022 294,674 167,814 90,177

CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 74,775 294,966 1,528,042
Additions - 73,953 85,803
Disposals (74,775 ) (46,090 ) (463,662 )
At 31 December 2023 - 322,829 1,150,183
DEPRECIATION
At 1 January 2023 74,775 177,759 858,170
Charge for year - 80,707 142,304
Eliminated on disposal (74,775 ) (46,090 ) (463,662 )
At 31 December 2023 - 212,376 536,812
NET BOOK VALUE
At 31 December 2023 - 110,453 613,371
At 31 December 2022 - 117,207 669,872

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 295,000
NET BOOK VALUE
At 31 December 2023 295,000
At 31 December 2022 295,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2015 77,050
Cost 217,950
295,000

CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INVESTMENT PROPERTY - continued

If the investment properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 217,950 217,950
Aggregate depreciation (59,896 ) (55,717 )

The investment properties were valued on an open market basis on 31 December 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 712,830 626,151
Directors' current accounts 120,802 78,709
VAT 20,063 22,717
Prepayments and accrued income 5,070 4,461
858,765 732,038

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank overdrafts - 101,122
Trade creditors 367,433 358,790
Tax 44,608 36,820
Social security and other taxes 12,642 -
Accrued expenses 44,248 45,463
468,931 542,195

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts - 101,122

The company's bank borrowing facilities are secured by a fixed and floating charge which covers all the property and undertaking of the company.

CHOICE MEATS CATERING LIMITED (REGISTERED NUMBER: 03550316)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
16,000 Ordinary A Shares £1 16,000 16,000
4,000 Ordinary B Shares £1 4,000 4,000
100 Ordinary C Shares £1 100 100

20,100 20,100

10. RESERVES

Included in retained earnings of £2,086,368 (2022 - £2,020,496) is a non-distributable balance of £67,265 (2022 - £69,614) that relates to the revaluation of investment property.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in "other debtors" is an amount due from the directors of £120,802 (2022 - £78,709). The balance is unsecured and interest free. There were advances during the year of £304,956 (2022 - £96,722) and credits of £262,863 (2022 - £74,000).