Registered number
04622664
Cam Catering Butchers Ltd
Filleted Accounts
31 January 2024
Cam Catering Butchers Ltd
Registered number: 04622664
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 230,235 234,546
Current assets
Stocks 38,000 20,750
Debtors 4 249,331 288,733
Cash at bank and in hand 26,710 23,131
314,041 332,614
Creditors: amounts falling due within one year 5 (281,990) (292,315)
Net current assets 32,051 40,299
Total assets less current liabilities 262,286 274,845
Creditors: amounts falling due after more than one year 6 (55,429) (92,401)
Provisions for liabilities (17,173) (10,059)
Net assets 189,684 172,385
Capital and reserves
Called up share capital 4 4
Revaluation reserve 7 66,258 66,258
Profit and loss account 123,422 106,123
Shareholders' funds 189,684 172,385
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 A Gabb
Director
Approved by the board on 30 October 2024
Cam Catering Butchers Ltd
Notes to the Accounts
for the year ended 31 January 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).
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. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment 25% straight line
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
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 14 15
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 319,471 219,103 229,042 767,616
Additions - 30,385 - 30,385
At 31 January 2024 319,471 249,488 229,042 798,001
Depreciation
At 1 February 2023 151,562 195,099 186,409 533,070
Charge for the year 8,100 15,330 11,266 34,696
At 31 January 2024 159,662 210,429 197,675 567,766
Net book value
At 31 January 2024 159,809 39,059 31,367 230,235
At 31 January 2023 167,909 24,004 42,633 234,546
4 Debtors 2024 2023
£ £
Trade debtors 183,503 222,325
Director's loan account 44,823 44,937
Prepayments 6,400 6,866
S419 Tax debtor 14,605 14,605
249,331 288,733
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 38,941 44,453
Obligations under finance lease and hire purchase contracts - 694
Trade creditors 185,615 184,508
Taxation and social security costs 42,239 43,994
Other creditors 15,195 18,666
281,990 292,315
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 55,429 92,401
7 Revaluation reserve 2024 2023
£ £
At 1 February 2023 66,258 66,258
At 31 January 2024 66,258 66,258
8 Other information
Cam Catering Butchers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit H9
Draycott Business Park
Cam, Dursley
Glos
GL11 5DQ
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