Company registration number 01354939 (England and Wales)
SESSIONS MEAT SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
SESSIONS MEAT SUPPLIES LIMITED
COMPANY INFORMATION
Directors
Mrs K D Blizzard
Mr G P Sessions
Company number
01354939
Registered office
Units 1/2/3
Oaklands Business Park
Hoo Farm Industrial Estate
Kidderminster
Worcestershire
DY11 7RA
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
112 High Street
Bromsgrove
Worcestershire
B61 8EZ
SESSIONS MEAT SUPPLIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
SESSIONS MEAT SUPPLIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SESSIONS MEAT SUPPLIES LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sessions Meat Supplies Limited for the year ended 30 April 2024 which comprise, the 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 at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Sessions Meat Supplies Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sessions Meat Supplies Limited and state those matters that we have agreed to state to the board of directors of Sessions Meat Supplies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sessions Meat Supplies Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Sessions Meat Supplies Limited 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 profit of Sessions Meat Supplies Limited. You consider that Sessions Meat Supplies Limited 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 Sessions Meat Supplies Limited. 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.

Ormerod Rutter Limited
7 October 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
SESSIONS MEAT SUPPLIES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
180,223
214,951
Current assets
Stocks
168,091
194,745
Debtors
4
533,474
404,652
Cash at bank and in hand
47,057
78,115
748,622
677,512
Creditors: amounts falling due within one year
5
(391,183)
(363,745)
Net current assets
357,439
313,767
Total assets less current liabilities
537,662
528,718
Creditors: amounts falling due after more than one year
6
(20,221)
(40,120)
Provisions for liabilities
8
(40,816)
(35,382)
Net assets
476,625
453,216
Capital and reserves
Called up share capital
9
1,200
1,200
Profit and loss reserves
475,425
452,016
Total equity
476,625
453,216

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 30 April 2024 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.

SESSIONS MEAT SUPPLIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 7 October 2024 and are signed on its behalf by:
Mrs K D Blizzard
Director
Company registration number 01354939 (England and Wales)
SESSIONS MEAT SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
1
Accounting policies
Company information

Sessions Meat Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Units 1/2/3, Oaklands Business Park, Hoo Farm Industrial Estate, Kidderminster, Worcestershire, DY11 7RA.

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 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

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:

Plant and machinery
10% on cost
Fixtures and fittings
20% on cost
Computer equipment
33% on cost
Motor vehicles
20% on cost

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.

SESSIONS MEAT SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

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

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

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.

SESSIONS MEAT SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
2
Employees

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

2024
2023
Number
Number
Total
27
26
3
Tangible fixed assets
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 May 2023
612,162
13,537
44,064
52,000
721,763
Additions
8,808
9,204
2,741
-
0
20,753
Disposals
-
0
-
0
-
0
(5,500)
(5,500)
At 30 April 2024
620,970
22,741
46,805
46,500
737,016
Depreciation and impairment
At 1 May 2023
428,346
13,537
34,216
30,713
506,811
Depreciation charged in the year
40,602
920
6,064
6,613
54,199
Eliminated in respect of disposals
-
0
-
0
-
0
(4,217)
(4,217)
At 30 April 2024
468,947
14,457
40,280
33,109
556,793
Carrying amount
At 30 April 2024
152,023
8,284
6,525
13,391
180,223
At 30 April 2023
183,816
-
0
9,848
21,287
214,951
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
377,359
299,675
Amounts owed by group undertakings
110,441
83,034
Other debtors
45,674
21,943
533,474
404,652
SESSIONS MEAT SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,800
10,800
Trade creditors
311,089
314,014
Taxation and social security
38,613
20,800
Other creditors
30,681
18,131
391,183
363,745
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,033
20,033
Other creditors
10,188
20,087
20,221
40,120
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
21,145
31,044
Bank loans
20,833
30,833
41,978
61,877
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a government-backed guarantee.
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
40,816
35,382
SESSIONS MEAT SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
1,000
1,000
1,000
1,000
Ordinary B of £1 each
100
100
100
100
Ordinary C of £1 each
100
100
100
100
1,200
1,200
1,200
1,200
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11
Control

Ultimate parent company

The ultimate parent company is Sessions Property Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr G P Sessions by virtue of his controlling interest in the ultimate parent company.

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