Company registration number: 09971751
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FOR THE YEAR ENDED
31 JANUARY 2024
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THE SAUSAGE MAN UK LIMITED
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THE SAUSAGE MAN UK LIMITED
REGISTERED NUMBER:09971751
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BALANCE SHEET
AS AT 31 JANUARY 2024
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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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 comprehensive income 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 on 23 October 2024.
The notes on pages 2 to 9 form part of these financial statements.
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
The Sausage Man UK Limited 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 (£).
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "TheFinancial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section1A "Small Entities" and the Companies Act 2006
3.Accounting policies
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Basis of preparation of financial statements
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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:
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Significant Judgements and estimates
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No significant judgements or estimates have had to be made by the directors in preparing these financial statements
Revenue represents the total invoice value, excluding value added tax, trade discounts and all other direct taxes made during the year.
Revenue is recognised when goods have been delivered or services supplied to customers such that risks and rewards of ownership have transferred to them.
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.
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.
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
3.Accounting policies (continued)
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Property, plant and equipment
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Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance
Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.
Tax 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 tax 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 statement of financial position date.
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result
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Hire purchase and leasing commitments
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Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.
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Pension costs and other post-retirement benefits
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The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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The average monthly number of employees, including directors, during the year was 25 (2023 - 40).
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Parent company profit for the year
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The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £950,905 (2023 - loss £435,214).
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Charge for the year on owned assets
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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Long-term leasehold property
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Charge for the year on owned assets
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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The following liabilities were secured:
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Details of security provided:
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Bank loans above are secured by way of a fixed charge over the freehold property and long leasehold property owned by the company and included within property, plant and equipment.
Amounts falling due under hire purchase contracts are secured against the assets concerned.
Security has also been provided to the company bankers by way of a fixed and floating charge over all assets of the company.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 2-5 years
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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Minimum lease payments under hire purchase fall due as follows:
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Charged to profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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Allotted, called up and fully paid
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100 (2023 - 100) Ordinary Share Capital shares of £1.00 each
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THE SAUSAGE MAN UK LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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Commitments under operating leases
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At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
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Later than 1 year and not later than 5 years
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Related party transactions
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At the year end nil (2023: £110,000) was owed to one director in the form of a directors loan and
nil (2023: £143,900) was owed to the shareholder in the form of a loan. Both loans are interest free and repayable on demand
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The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.
The audit report was signed on 29 October 2024 by James Fox ACA FCCA (Senior statutory auditor) on behalf of Menzies LLP.
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