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Company Registration No. 09406889 (England and Wales)
Paddock Farm Butchery Ltd Unaudited accounts for the year ended 31 December 2023
Paddock Farm Butchery Ltd Unaudited accounts Contents
Page
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Paddock Farm Butchery Ltd Company Information for the year ended 31 December 2023
Directors
J Francis N Francis
Company Number
09406889 (England and Wales)
Registered Office
10 Broad Walk Stratford upon Avon Warwickshire CV37 6HS
Accountants
Giles Garratt Limited 10 Broad Walk Stratford-upon-Avon Warwickshire CV37 6HS
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Paddock Farm Butchery Ltd Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
568,773 
572,757 
Current assets
Inventories
289,921 
245,819 
Debtors
170,953 
149,563 
Cash at bank and in hand
39,191 
74,403 
500,065 
469,785 
Creditors: amounts falling due within one year
(262,066)
(226,928)
Net current assets
237,999 
242,857 
Total assets less current liabilities
806,772 
815,614 
Creditors: amounts falling due after more than one year
(382,947)
(422,286)
Provisions for liabilities
Deferred tax
(72,702)
(57,433)
Net assets
351,123 
335,895 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
351,023 
335,795 
Shareholders' funds
351,123 
335,895 
For the year ending 31 December 2023 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 September 2024 and were signed on its behalf by
N Francis Director Company Registration No. 09406889
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Paddock Farm Butchery Ltd Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Paddock Farm Butchery Ltd is a private company, limited by shares, registered in England and Wales, registration number 09406889. The registered office is 10 Broad Walk, Stratford upon Avon, Warwickshire, CV37 6HS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
not provided on freehold land, 2% straight line on buildings
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on reducing balance
Inventories
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Paddock Farm Butchery Ltd Notes to the Accounts for the year ended 31 December 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
273,235 
404,109 
92,471 
108,061 
14,752 
892,628 
Additions
8,869 
39,032 
53,489 
4,843 
1,362 
107,595 
Disposals
- 
(27,705)
- 
- 
- 
(27,705)
At 31 December 2023
282,104 
415,436 
145,960 
112,904 
16,114 
972,518 
Depreciation
At 1 January 2023
2,758 
191,198 
57,017 
59,222 
9,676 
319,871 
Charge for the year
1,379 
59,670 
22,236 
13,421 
1,609 
98,315 
On disposals
- 
(14,441)
- 
- 
- 
(14,441)
At 31 December 2023
4,137 
236,427 
79,253 
72,643 
11,285 
403,745 
Net book value
At 31 December 2023
277,967 
179,009 
66,707 
40,261 
4,829 
568,773 
At 31 December 2022
270,477 
212,911 
35,454 
48,839 
5,076 
572,757 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
90,501 
132,690 
- Motor vehicles
52,175 
31,036 
- Fixtures & fittings
27,649 
36,865 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
160,968 
138,499 
Other debtors
9,985 
11,064 
170,953 
149,563 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
24,784 
28,259 
Obligations under finance leases and hire purchase contracts
46,574 
47,048 
Trade creditors
123,377 
107,224 
Taxes and social security
44,319 
11,794 
Other creditors
23,012 
32,603 
262,066 
226,928 
The following secured debts are included within creditors: Bank loans and overdrafts £24,784 (2022: £28,259); Obligations under finance leases and hire purchase contracts £46,574 (2022: £47,048).
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Paddock Farm Butchery Ltd Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
237,657 
256,060 
Obligations under finance leases and hire purchase contracts
145,290 
166,226 
382,947 
422,286 
The following secured debts are included within creditors: Bank loans £237,657 (2022: £256,060); Obligations under finance leases and hire purchase contracts £145,290 (2022: £166,226).
8
Average number of employees
During the year the average number of employees was 13 (2022: 11).
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