Registered number
06284950
The Fat Pig Ltd
Unaudited Filleted Accounts
30 June 2024
The Fat Pig Ltd
Registered number: 06284950
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,797 1,817
Investments 4 87,905 50,629
94,702 52,446
Current assets
Stocks 8,458 6,705
Debtors 5 19,274 83,514
Cash at bank and in hand 15,021 28,842
42,753 119,061
Creditors: amounts falling due within one year 6 (35,413) (27,416)
Net current assets 7,340 91,645
Total assets less current liabilities 102,042 144,091
Creditors: amounts falling due after more than one year 7 (32,159) (32,504)
Provisions for liabilities (5,376) -
Net assets 64,505 111,587
Capital and reserves
Called up share capital 100 100
Profit and loss account 64,405 111,487
Shareholder's funds 64,505 111,587
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H J Lothian
Director
Approved by the board on 25 September 2024
The Fat Pig Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 23,873 20,858 44,731
Additions - 7,183 7,183
At 30 June 2024 23,873 28,041 51,914
Depreciation
At 1 July 2023 22,888 20,026 42,914
Charge for the year 328 1,875 2,203
At 30 June 2024 23,216 21,901 45,117
Net book value
At 30 June 2024 657 6,140 6,797
At 30 June 2023 985 832 1,817
4 Investments
Other
Fair Value investments
£
At 1 July 2023 50,629
Additions 29,764
Revaluation - included in the profit & loss account 14,953
Disposals (7,441)
At 30 June 2024 87,905
Silver and gold investments' fair value are provided by Bullion By Post, an online website that provides silver and gold valuations.
Whiskey investments' are held at fair value and revalued based on the director's knowledge of the active market.
5 Debtors 2024 2023
£ £
Deferred tax asset - 200
Other debtors 19,274 83,314
19,274 83,514
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,310 9,217
Trade creditors 8,834 8,915
Taxation and social security costs 6,559 8,442
Other creditors 13,710 842
35,413 27,416
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 32,159 32,504
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director 43,526 15,598 (68,682) (9,558)
Interest charged at HMRC's official rate, repayable on demand
43,526 15,598 (68,682) (9,558)
9 Related party transactions
The write off totalling £25,630 relates to a loan from The Exeter Distillery Ltd which is a close company held by the director.
10 Other information
The Fat Pig Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Tabac
1A The Crescent
Exeter
Devon
EX4 3SB
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