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REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

R B ELLIOTT AND SON LIMITED

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5

Chartered Certified Accountants' Report 10

R B ELLIOTT AND SON LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: Mr S B Elliott
Mrs J Elliott
Mr A Elliott
Mr J Elliott





SECRETARY: Mrs J Elliott





REGISTERED OFFICE: Stud Farm
Calow
Chesterfield
Derbyshire
S44 5UN





REGISTERED NUMBER: 06665397 (England and Wales)





ACCOUNTANTS: Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

REPORT OF THE DIRECTORS
for the year ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITIES
The principal activities of the company in the year under review were those of an abattoir, wholesale and retail butchers.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

Mr S B Elliott
Mrs J Elliott
Mr A Elliott
Mr J Elliott

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs J Elliott - Director


13 November 2024

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

BALANCE SHEET
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 79,936 99,940
Tangible assets 5 1,442,834 1,207,451
1,522,770 1,307,391

CURRENT ASSETS
Stocks 128,669 80,907
Debtors 6 849,445 706,648
Cash in hand 4,741 5,406
982,855 792,961
CREDITORS
Amounts falling due within one year 7 846,358 795,496
NET CURRENT ASSETS/(LIABILITIES) 136,497 (2,535 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,659,267 1,304,856

CREDITORS
Amounts falling due after more than one year 8 (221,928 ) (18,106 )

PROVISIONS FOR LIABILITIES (87,249 ) (44,523 )
NET ASSETS 1,350,090 1,242,227

CAPITAL AND RESERVES
Called up share capital 1,190,762 1,190,762
Retained earnings 159,328 51,465
SHAREHOLDERS' FUNDS 1,350,090 1,242,227

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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.

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

BALANCE SHEET - continued
30 September 2024


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 13 November 2024 and were signed on its behalf by:





Mr S B Elliott - Director


R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024

1. STATUTORY INFORMATION

R B Elliott and Son 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 (£).


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 represents the net sales of invoiced goods on despatch or pick-up, excluding Value Added Tax. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the agreed upon payment.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively as appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks
Stocks are stated at the lower of cost and net realisable value. Costs include materials, direct wages and other direct production costs together with a proportion of production overheads relevant to finished goods. Net realisable value is the price at which inventory can be sold in the normal course of business after allowing for the costs of realisation.

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements or a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the Company would receive for the asset if it were sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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 39 (2023 - 36 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 400,000
AMORTISATION
At 1 October 2023 300,060
Charge for year 20,004
At 30 September 2024 320,064
NET BOOK VALUE
At 30 September 2024 79,936
At 30 September 2023 99,940

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 October 2023 1,319,755 722,491 183,305 28,859 2,254,410
Additions - 295,390 22,995 - 318,385
Disposals - (5,535 ) - - (5,535 )
At 30 September 2024 1,319,755 1,012,346 206,300 28,859 2,567,260
DEPRECIATION
At 1 October 2023 354,508 552,365 112,152 27,934 1,046,959
Charge for year 23,796 36,218 21,137 576 81,727
Eliminated on disposal - (4,260 ) - - (4,260 )
At 30 September 2024 378,304 584,323 133,289 28,510 1,124,426
NET BOOK VALUE
At 30 September 2024 941,451 428,023 73,011 349 1,442,834
At 30 September 2023 965,247 170,126 71,153 925 1,207,451

Included in cost of land and buildings is freehold land of £ 130,000 (2023 - £ 130,000 ) which is not depreciated.

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 October 2023 - 30,000 30,000
Additions 280,000 - 280,000
Transfer to ownership - 24,000 24,000
At 30 September 2024 280,000 54,000 334,000
DEPRECIATION
At 1 October 2023 - 14,180 14,180
Charge for year 9,332 8,705 18,037
Transfer to ownership - 5,000 5,000
At 30 September 2024 9,332 27,885 37,217
NET BOOK VALUE
At 30 September 2024 270,668 26,115 296,783
At 30 September 2023 - 15,820 15,820

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 667,249 596,182
Tax 4,806 -
VAT 23,132 29,558
Prepayments and accrued income 154,258 80,908
849,445 706,648

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 408,664 379,712
Hire purchase contracts 58,798 12,451
Trade creditors 294,771 317,575
Tax - 4,806
Social security and other taxes 18,886 17,649
Directors' current accounts 8,583 10,972
Accrued expenses 56,656 52,331
846,358 795,496

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Hire purchase contracts 221,928 18,106

R B ELLIOTT AND SON LIMITED (REGISTERED NUMBER: 06665397)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank overdrafts 408,664 379,712
Hire purchase contracts 280,726 30,557
689,390 410,269

There is a first legal mortgage over the company's land and buildings and a mortgage debenture held over the company's other assets.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
R B ELLIOTT AND SON LIMITED

The following reproduces the text of the report prepared for the directors 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 Directors 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 R B Elliott and Son Limited for the year ended 30 September 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of R B Elliott and Son 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 R B Elliott and Son Limited and state those matters that we have agreed to state to the Board of Directors of R B Elliott and Son Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R B Elliott and Son 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 R B Elliott and Son Limited. You consider that R B Elliott and Son 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 R B Elliott and Son 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.






Hewitt Card Limited
Chartered Certified Accountants
70-72 Nottingham Road
Mansfield
Nottinghamshire
NG18 1BN


Date: .............................................