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REGISTERED NUMBER: 07914095 (England and Wales)















Glamorgan Quality Meats Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023






Glamorgan Quality Meats Ltd (Registered number: 07914095)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glamorgan Quality Meats Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M J Barratt
V Barratt





SECRETARY: V Barratt





REGISTERED OFFICE: Mayfield
Coed Morgan
Abergavenny
Monmouthshire
NP7 9UL





REGISTERED NUMBER: 07914095 (England and Wales)





ACCOUNTANTS: O'Brien & Partners
Accountants & Business Advisors
11 New Street
Pontnewydd
Cwmbran
NP44 1EE

Glamorgan Quality Meats Ltd (Registered number: 07914095)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108,572 97,521

CURRENT ASSETS
Stocks 15,002 15,002
Debtors 5 86,522 169,600
Cash at bank and in hand 183,968 139,107
285,492 323,709
CREDITORS
Amounts falling due within one year 6 151,550 161,248
NET CURRENT ASSETS 133,942 162,461
TOTAL ASSETS LESS CURRENT
LIABILITIES

242,514

259,982

CREDITORS
Amounts falling due after more than one year 7 (15,330 ) (25,330 )

PROVISIONS FOR LIABILITIES (9,000 ) (9,000 )
NET ASSETS 218,184 225,652

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 218,084 225,552
218,184 225,652

Glamorgan Quality Meats Ltd (Registered number: 07914095)

Balance Sheet - continued
31 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





M J Barratt - Director


Glamorgan Quality Meats Ltd (Registered number: 07914095)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Glamorgan Quality Meats 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 9 ) .

Glamorgan Quality Meats Ltd (Registered number: 07914095)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 November 2022 91,706 57,624 51,765 201,095
Additions - 305 22,995 23,300
At 31 October 2023 91,706 57,929 74,760 224,395
DEPRECIATION
At 1 November 2022 29,233 30,022 44,319 103,574
Charge for year 6,247 4,140 1,862 12,249
At 31 October 2023 35,480 34,162 46,181 115,823
NET BOOK VALUE
At 31 October 2023 56,226 23,767 28,579 108,572
At 31 October 2022 62,473 27,602 7,446 97,521

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 83,907 70,644
Other debtors 2,615 98,956
86,522 169,600

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 126,392 123,508
Taxation and social security 7,548 19,635
Other creditors 7,610 8,105
151,550 161,248

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 15,330 25,330