Registered number
10610212
Hedges Butchers Limited
Unaudited Filleted Accounts
31 March 2024
Hedges Butchers Limited
Registered number: 10610212
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,999 11,999
Tangible assets 4 64,275 36,939
70,274 48,938
Current assets
Stocks 44,233 32,067
Debtors 5 187,222 247,779
Investments held as current assets 6 2 2
Cash at bank and in hand 144,411 30,042
375,868 309,890
Creditors: amounts falling due within one year 7 (256,526) (215,866)
Net current assets 119,342 94,024
Total assets less current liabilities 189,616 142,962
Provisions for liabilities (6,681) -
Net assets 182,935 142,962
Capital and reserves
Called up share capital 5 5
Profit and loss account 182,930 142,957
Shareholders' funds 182,935 142,962
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 Michael Ashton
Director
Approved by the board on 19 November 2024
Hedges Butchers Limited
Notes to the Accounts
for the year ended 31 March 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. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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, 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.
Intangible fixed assets - goodwill
Acquired goodwill is written off in equal annual installments over its estimated useful economic life of 5 years.
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 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
Motor vehicles 20% 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 16 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 75,000
At 31 March 2024 75,000
Amortisation
At 1 April 2023 63,001
Provided during the year 6,000
At 31 March 2024 69,001
Net book value
At 31 March 2024 5,999
At 31 March 2023 11,999
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
Cost £ £ £
At 1 April 2023 145,143 58,690 203,833
Additions 13,358 45,525 58,883
Disposals - (5,050) (5,050)
At 31 March 2024 158,501 99,165 257,666
Depreciation
At 1 April 2023 122,538 44,356 166,894
Charge for the year 13,481 18,066 31,547
On disposals - (5,050) (5,050)
At 31 March 2024 136,019 57,372 193,391
Net book value
At 31 March 2024 22,482 41,793 64,275
At 31 March 2023 22,605 14,334 36,939
5 Debtors 2024 2023
£ £
Trade debtors 156,839 153,721
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 67,000
Deferred tax asset - 2,063
Other debtors 30,383 24,995
187,222 247,779
6 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 2 2
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 180,948 177,025
Amounts owed to group undertakings and undertakings in which the company has a participating interest (863) 363
Taxation and social security costs 60,053 10,156
Other creditors 16,388 28,322
256,526 215,866
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 50,908 40,000
9 Controlling party
The ultimate controlling parties are Mr M Ashton and Mrs E Ashton by virtue of their combined majority shareholding of the company.
10 Other information
Hedges Butchers Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Hinksey Court
Church Way
Oxford
OX2 9SX
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