Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseThe principal activity of the entity in the period was the retail and wholesale of meat products.107truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10331087 2023-01-01 2023-12-31 10331087 2022-01-01 2022-12-31 10331087 2023-12-31 10331087 2022-12-31 10331087 c:Director1 2023-01-01 2023-12-31 10331087 c:Director2 2023-01-01 2023-12-31 10331087 d:PlantMachinery 2023-01-01 2023-12-31 10331087 d:PlantMachinery 2023-12-31 10331087 d:PlantMachinery 2022-12-31 10331087 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10331087 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10331087 d:OfficeEquipment 2023-01-01 2023-12-31 10331087 d:OfficeEquipment 2023-12-31 10331087 d:OfficeEquipment 2022-12-31 10331087 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10331087 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10331087 d:ComputerEquipment 2023-01-01 2023-12-31 10331087 d:ComputerEquipment 2023-12-31 10331087 d:ComputerEquipment 2022-12-31 10331087 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10331087 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10331087 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10331087 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 10331087 d:CurrentFinancialInstruments 2023-12-31 10331087 d:CurrentFinancialInstruments 2022-12-31 10331087 d:Non-currentFinancialInstruments 2023-12-31 10331087 d:Non-currentFinancialInstruments 2022-12-31 10331087 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10331087 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10331087 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10331087 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10331087 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 10331087 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10331087 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 10331087 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 10331087 d:ShareCapital 2023-12-31 10331087 d:ShareCapital 2022-12-31 10331087 d:SharePremium 2023-12-31 10331087 d:SharePremium 2022-12-31 10331087 d:RetainedEarningsAccumulatedLosses 2023-12-31 10331087 d:RetainedEarningsAccumulatedLosses 2022-12-31 10331087 c:FRS102 2023-01-01 2023-12-31 10331087 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10331087 c:FullAccounts 2023-01-01 2023-12-31 10331087 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10331087 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 10331087 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 10331087 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 10331087 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 10331087 2 2023-01-01 2023-12-31 10331087 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 10331087 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 10331087 d:LeasedAssetsHeldAsLessee 2023-12-31 10331087 d:LeasedAssetsHeldAsLessee 2022-12-31 10331087 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 10331087


MAYHEW BROS. (EMBER) LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
MAYHEW BROS. (EMBER) LTD
REGISTERED NUMBER: 10331087

BALANCE SHEET
AS AT 31 DECEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
88,243
114,920

  
88,243
114,920

Current assets
  

Stocks
  
338,768
295,394

Debtors: amounts falling due within one year
 6 
230,930
119,258

Cash at bank and in hand
 7 
683,245
467,469

  
1,252,943
882,121

Creditors: amounts falling due within one year
 8 
(301,888)
(239,387)

Net current assets
  
 
 
951,055
 
 
642,734

Total assets less current liabilities
  
1,039,298
757,654

Creditors: amounts falling due after more than one year
 9 
(318,992)
(55,113)

  

Net assets
  
720,306
702,541


Capital and reserves
  

Called up share capital 
  
4,204
3,707

Share premium account
  
3,246,444
2,568,798

Profit and loss account
  
(2,530,342)
(1,869,964)

  
720,306
702,541


Page 1

 
MAYHEW BROS. (EMBER) LTD
REGISTERED NUMBER: 10331087
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr H Mayhew
................................................
Mr J Mayhew
Director
Director


Date: 18 September 2024
Date:18 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Mayhew Bros. (Ember) Ltd is a private limited company limited by shares, incorporated in the United Kingdom, whose registered office is No 206, 2nd Floor Runway East, 52 Tabernacle Street, London, England, EC2A 4NJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Pensions

Defined contribution pension plan

The Company contributes into a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Office equipment
-
33%
Computer equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 7).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
163,356
7,994
4,288
175,638


Additions
8,160
159
279
8,598



At 31 December 2023

171,516
8,153
4,567
184,236



Depreciation


At 1 January 2023
50,957
7,010
2,751
60,718


Charge for the year on owned assets
7,215
839
621
8,675


Charge for the year on financed assets
26,600
-
-
26,600



At 31 December 2023

84,772
7,849
3,372
95,993



Net book value



At 31 December 2023
86,744
304
1,195
88,243



At 31 December 2022
112,399
984
1,537
114,920

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
64,283
90,883

64,283
90,883

Page 7

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
338,768
295,394

338,768
295,394



6.


Debtors

2023
2022
£
£


Trade debtors
206,897
104,535

Other debtors
23,700
14,723

Prepayments and accrued income
333
-

230,930
119,258



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
683,245
467,469

683,245
467,469



8.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Bank loans
12,500
-

Trade creditors
110,020
149,019

Corporation tax
70,421
-

Other taxation and social security
11,033
9,016

Obligations under finance lease and hire purchase contracts
23,620
23,620

Other creditors
1,599
1,662

Accruals and deferred income
72,695
56,070

301,888
239,387


Page 8

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

As restated
2023
2022
£
£

Bank loans
287,500
-

Net obligations under finance leases and hire purchase contracts
31,492
55,113

318,992
55,113



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
12,500
-


12,500
-

Amounts falling due 1-2 years

Bank loans
150,000
-


150,000
-

Amounts falling due 2-5 years

Bank loans
137,500
-


137,500
-


300,000
-


Page 9

 
MAYHEW BROS. (EMBER) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
23,620
23,620

Between 1-5 years
31,492
55,112

55,112
78,732


12.


Pension commitments

The company contributes into a defined contributions pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds.
The pension cost charge represents contributions payable by the company to the funds and this amounted to £6,306 (2022 - £5,405). Contributions totalling £1,599 were payable to the fund at the year end (2022 - £1,204).

 
Page 10