Registered number
11342494
Edinburgh Butter Company Limited
Unaudited Filleted Accounts
31 May 2024
Edinburgh Butter Company Limited
Registered number: 11342494
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 255,272 356,534
Current assets
Stocks 10,957 6,658
Debtors 4 121,959 106,125
Cash at bank and in hand 223,470 22,290
356,386 135,073
Creditors: amounts falling due within one year 5 (192,269) (192,847)
Net current assets/(liabilities) 164,117 (57,774)
Total assets less current liabilities 419,389 298,760
Creditors: amounts falling due after more than one year 6 (215,649) (220,988)
Provisions for liabilities (6,718) -
Net assets 197,022 77,772
Capital and reserves
Called up share capital 141 141
Profit and loss account 196,881 77,631
Shareholders' funds 197,022 77,772
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.
N Sinclair
Director
Approved by the board on 23 October 2024
Edinburgh Butter Company Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Going Concern
The financial statements have been prepared on the going concern basis. The directors have considered a period of twelve months from the date of signature of the accounts and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. It is therefore considered appropriate to continue to adopt the going concern basis of accounting in preparing the annual financial statements.
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:
Leasehold improvements 10% straight line
Plant and machinery - general 15% reducing balance
Plant and machinery - motor vehicles 20% straight line
Computer equipment 33.3% straight line
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks.
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
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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.
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 10 8
3 Tangible fixed assets
Leasehold improvements Plant and machinery etc Computer Equipment Total
£ £ £ £
Cost
At 1 June 2023 104,706 308,156 3,419 416,281
Additions 8,900 16,318 - 25,218
Disposals - (99,542) - (99,542)
At 31 May 2024 113,606 224,932 3,419 341,957
Depreciation
At 1 June 2023 8,483 49,425 1,839 59,747
Charge for the year 11,361 14,437 1,140 26,938
At 31 May 2024 19,844 63,862 2,979 86,685
Net book value
At 31 May 2024 93,762 161,070 440 255,272
At 31 May 2023 96,223 258,731 1,580 356,534
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements: Plant and Machinery £19,672 (2023: £25,411).
4 Debtors 2024 2023
£ £
Trade debtors 109,896 84,629
Other debtors 12,063 21,496
121,959 106,125
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 513 8,719
Obligations under finance lease and hire purchase contracts 5,338 4,806
Trade creditors 90,880 54,771
Taxation and social security costs 8,926 3,008
Other creditors 86,612 121,543
192,269 192,847
6 Creditors: amounts falling due after one year 2024 2023
£ £
Non-equity preference shares 200,001 200,001
Obligations under finance lease and hire purchase contracts 15,648 20,987
215,649 220,988
7 Creditors 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 200,001 200,001
8 Capital commitments 2024 2023
£ £
Amounts contracted for but not provided in the accounts 36,936 148,565
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 86,820 117,129
10 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Interest free loan from Directors 100,012 1,768 (17,496) 84,284
100,012 1,768 (17,496) 84,284
An interest free loan of £84,284 repayable on demand is owed to the Directors at the year end.
11 Other information
Edinburgh Butter Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
Ava Lodge, Castle Terrace
Berwick Upon Tweed
Northumberland
England
TD15 1NP
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