Company registration number 08184117 (England and Wales)
WAYNE WALKER QUALITY MEATS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WAYNE WALKER QUALITY MEATS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WAYNE WALKER QUALITY MEATS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
305,637
282,191
Current assets
Stocks
185,050
243,028
Debtors
4
363,087
440,500
Cash at bank and in hand
124,998
103,053
673,135
786,581
Creditors: amounts falling due within one year
5
(439,462)
(523,661)
Net current assets
233,673
262,920
Total assets less current liabilities
539,310
545,111
Creditors: amounts falling due after more than one year
6
(14,806)
(24,951)
Provisions for liabilities
(65,383)
(65,382)
Net assets
459,121
454,778
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
459,021
454,678
Total equity
459,121
454,778

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

WAYNE WALKER QUALITY MEATS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 June 2024 and are signed on its behalf by:
Mr W P Walker
Director
Company registration number 08184117 (England and Wales)
WAYNE WALKER QUALITY MEATS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Wayne Walker Quality Meats Limited is a private company limited by shares incorporated in England and Wales. The registered office is Trubshaw Cross, Davenport Street, Longport, Stoke On Trent, ST6 4RB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Enter depreciation rate via StatDB - cd99988
Plant and equipment
15% reducing balance
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

WAYNE WALKER QUALITY MEATS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

WAYNE WALKER QUALITY MEATS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
26
26
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
-
0
487,431
89,654
136,352
713,437
Additions
27,876
6,606
40,283
5,750
80,515
Disposals
-
0
(4,487)
(1,579)
(6,014)
(12,080)
At 31 December 2023
27,876
489,550
128,358
136,088
781,872
Depreciation and impairment
At 1 January 2023
-
0
285,725
48,097
97,424
431,246
Depreciation charged in the year
-
0
30,280
13,831
9,909
54,020
Eliminated in respect of disposals
-
0
(2,975)
(746)
(5,310)
(9,031)
At 31 December 2023
-
0
313,030
61,182
102,023
476,235
Carrying amount
At 31 December 2023
27,876
176,520
67,176
34,065
305,637
At 31 December 2022
-
0
201,706
41,557
38,928
282,191
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,030
12,317
Amounts owed by group undertakings and undertakings in which the company has a participating interest
322,409
385,059
Other debtors
39,648
43,124
363,087
440,500
WAYNE WALKER QUALITY MEATS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,140
9,890
Trade creditors
376,077
336,084
Taxation and social security
31,387
57,286
Other creditors
21,858
120,401
439,462
523,661
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,806
24,951

The bank loan is secured against the total assets of the company by way of a fixed and floating charge.

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
21,856
28,135
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