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REGISTERED NUMBER: 01912833 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Scott's Meats (Scunthorpe) Ltd

Scott's Meats (Scunthorpe) Ltd (Registered number: 01912833)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


Scott's Meats (Scunthorpe) Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S J Currie





REGISTERED OFFICE: Apartment 29
Linea
Dunstall Street
Scunthorpe
North Lincolnshire
DN15 6JL





REGISTERED NUMBER: 01912833 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Scott's Meats (Scunthorpe) Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Scott's Meats (Scunthorpe) Ltd for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Scott's Meats (Scunthorpe) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Scott's Meats (Scunthorpe) Ltd and state those matters that we have agreed to state to the director of Scott's Meats (Scunthorpe) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Scott's Meats (Scunthorpe) Ltd and its director for our work or for this report.

It is your duty to ensure that Scott's Meats (Scunthorpe) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Scott's Meats (Scunthorpe) Ltd. You consider that Scott's Meats (Scunthorpe) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Scott's Meats (Scunthorpe) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wright Vigar Limited
Chartered Accountants & Business Advisers
Office 1
Engine House
Marshalls Yard
Gainsborough
Lincolnshire
DN21 2NA


21 October 2024

Scott's Meats (Scunthorpe) Ltd (Registered number: 01912833)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 20,000
Tangible assets 5 17,082 21,147
17,082 41,147

CURRENT ASSETS
Stocks 15,250 10,000
Debtors 6 31,973 55,362
Cash at bank and in hand 23,030 37,127
70,253 102,489
CREDITORS
Amounts falling due within one year 7 5,748 105,614
NET CURRENT ASSETS/(LIABILITIES) 64,505 (3,125 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,587

38,022

CREDITORS
Amounts falling due after more than one
year

8

(75,000

)

-

PROVISIONS FOR LIABILITIES (2,802 ) (3,869 )
NET ASSETS 3,785 34,153

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 3,685 34,053
SHAREHOLDERS' FUNDS 3,785 34,153

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2024 and were signed by:



S J Currie - Director


Scott's Meats (Scunthorpe) Ltd (Registered number: 01912833)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Scott's Meats (Scunthorpe) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 50% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Scott's Meats (Scunthorpe) Ltd (Registered number: 01912833)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payment, discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023 80,000
Charge for year 20,000
At 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 20,000

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 35,646 34,500 850 70,996
DEPRECIATION
At 1 April 2023 23,309 25,736 804 49,849
Charge for year 1,851 2,191 23 4,065
At 31 March 2024 25,160 27,927 827 53,914
NET BOOK VALUE
At 31 March 2024 10,486 6,573 23 17,082
At 31 March 2023 12,337 8,764 46 21,147

Scott's Meats (Scunthorpe) Ltd (Registered number: 01912833)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 48,642
Other debtors 31,973 6,720
31,973 55,362

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1 59,265
Taxation and social security 3,731 18,434
Other creditors 2,016 27,915
5,748 105,614

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 75,000 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100