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Ivan Clarke Catering Butchers Limited
Registered Number:06114663
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
Ivan Clarke Catering Butchers Limited
Contents Page
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Statement of Financial Position
3 to 7
Notes to the Financial Statements
3
Registered Number :
06114663
As at 31 March 2024
Ivan Clarke Catering Butchers Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
11,200
12,600
2
Property, plant and equipment
97,140
93,641
3
108,340
106,241
Current assets
Inventories
49,908
54,149
4
Trade and other receivables
93,642
113,626
5
8,041
Cash and cash equivalents
45,514
213,289
151,591
Trade and other payables: amounts falling due within
one year
(128,209)
(188,947)
6
23,382
24,342
Net current assets
Total assets less current liabilities
132,682
129,623
Trade and other payables: amounts falling due after
more than one year
(2,199)
-
7
(16,927)
(17,329)
Provisions for liabilities
115,755
Net assets
110,095
Capital and reserves
Called up share capital
2
2
Retained earnings
115,753
110,093
115,755
110,095
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
06114663
For the year ended 31 March 2024
Ivan Clarke Catering Butchers Limited
Statement of Financial Position Continued
Mr I Clarke Director
Mrs J Clarke Director
These financial statements were approved and authorised for issue by the Board on 18 November 2024 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2024
Ivan Clarke Catering Butchers Limited
Notes to the Financial Statements
Statutory Information
Ivan Clarke Catering Butchers Limited is a private limited company, limited by shares, domiciled in
England and Wales, registration number 06114663.
Registered address:
Unit 4C
Mullacott Industrial Estate
Ilfracombe
Devon
EX34 8PL
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic
of Ireland' and the Companies Act 2006. The financial statements have been prepared under the
historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
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 25 years.
Intangible assets
The intangible fixed assets are amortised at a rate calculated to write off the asset on a straight line basis over their estimated useful economic life. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of the asset may not be fully recoverable.
Property, plant and equipment
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value over their useful lives as detailed below these two paragraphs. A review is carried out by the directors at each balance sheet date to determine whether there is any indication that any items have suffered impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit which the asset belongs.
Land and buildings
5% Straight line
Plant and machinery
15% Reducing balance
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6
For the year ended 31 March 2024
Ivan Clarke Catering Butchers Limited
Notes to the Financial Statements Continued
25% Reducing balance
Motor vehicles
Government grants
Government grants are accounted for on an accruals basic. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carry amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stock to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives. Obligations under such agreement are included in the creditors net of finance charge allocated to future periods. The finance element of the payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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7
For the year ended 31 March 2024
Ivan Clarke Catering Butchers Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2023
35,000
At 31 March 2024
35,000
Amortisation
At 01 April 2023
22,400
1,400
Charge for year
At 31 March 2024
23,800
Net book value
At 31 March 2024
11,200
At 31 March 2023
12,600
3. Property, plant and equipment
Total
Motor
vehicles
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 April 2023
329,584
94,085
216,969
18,530
26,367
-
23,767
2,600
Additions
-
(1,228)
-
Disposals
(1,228)
At 31 March 2024
21,130
239,508
94,085
354,723
Provision for depreciation and impairment
At 01 April 2023
235,943
43,871
180,052
12,020
Charge for year
22,686
12,554
9,075
1,057
(1,046)
-
(1,046)
-
On disposal
At 31 March 2024
257,583
56,425
188,081
13,077
At 31 March 2024
Net book value
8,053
51,427
37,660
97,140
At 31 March 2023
6,510
36,917
50,214
93,641
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8
For the year ended 31 March 2024
Ivan Clarke Catering Butchers Limited
Notes to the Financial Statements Continued
4. Inventories
2023
2024
£
£
Stocks
54,149
49,908
Inventories are valued at the lower of cost and selling price less costs to complete and sell. Cost is defined as the actual cost of materials. Provision is made for obsolete and slow-moving items. In respect of work in progress this is the percentage of any sales contract that has been completed within the year but invoiced after the year end and is based on the sales invoice total.
5. Trade and other receivables
2023
2024
£
£
Trade debtors
103,333
86,590
Prepayments and accrued income
2,321
2,639
Other debtors
7,972
4,413
93,642
113,626
6. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
1,099
2,198
Trade creditors
123,478
80,769
Taxation and social security
15,429
15,286
Directors' loan accounts
28,918
17,404
Other creditors
20,023
12,552
188,947
128,209
7. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
-
2,199
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9
For the year ended 31 March 2024
Ivan Clarke Catering Butchers Limited
Notes to the Financial Statements Continued
8. Related party transactions
The company rents it's premises from the directors at an annual rent of £24,000 (2023 £24,000) this
being due monthly in advance, on the first day of the month. There was no amount owing at the year-end
(2023 nil).
The directors continue to support the company by virtue of their director's current accounts which
remained in credit for the full year. The amounts owed to each directors on 31 March being £14,459
(2023 £8,702).
Controlling Interest
Mr & Mrs Clarke are directors and equal shareholders in the company, each owning 50% of the issued
ordinary share capital. Their combined 100% holding giving them full control of the company.
9. Average number of persons employed
During the year the average number of employees was 17 (2023 : 15)
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