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
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
Paddock Farm Butchery Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
568,773
572,757
Inventories
289,921
245,819
Cash at bank and in hand
39,191
74,403
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
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
Paddock Farm Butchery Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
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.
Paddock Farm Butchery Ltd
Notes to the Accounts
for the year ended 31 December 2023
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
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
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
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
Amounts falling due within one year
Trade debtors
160,968
138,499
Other debtors
9,985
11,064
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
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).
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
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).
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Average number of employees
During the year the average number of employees was 13 (2022: 11).