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Registration number: 08911032

Havercroft's Meats Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Havercroft's Meats Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Havercroft's Meats Ltd

Company Information

Directors

S J Havercroft

Mrs W P Havercroft

Registered office

Unit 12
Warne Park
Warne Road
Weston-super-Mare
Somerset
BS23 3TP

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Havercroft's Meats Ltd

(Registration number: 08911032)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

3,103

34,724

Tangible assets

5

55,353

63,656

 

58,456

98,380

Current assets

 

Stocks

6

14,789

11,907

Debtors

7

137,656

134,646

Cash at bank and in hand

 

330,030

297,458

 

482,475

444,011

Creditors: Amounts falling due within one year

8

(164,469)

(158,034)

Net current assets

 

318,006

285,977

Total assets less current liabilities

 

376,462

384,357

Provisions for liabilities

(13,838)

(12,094)

Net assets

 

362,624

372,263

Capital and reserves

 

Called up share capital

100

100

Retained earnings

362,524

372,163

Shareholders' funds

 

362,624

372,263

 

Havercroft's Meats Ltd

(Registration number: 08911032)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 November 2024 and signed on its behalf by:
 

.........................................
S J Havercroft
Director

 

Havercroft's Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of the financial statements is the Pound Sterling (£).

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Havercroft's Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible fixed assets

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

Straight line over 3 years

Fixtures and fittings

15% on reducing balance

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2014 and 2020, is being amortised evenly over its estimated useful life of ten years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks are valued on a first in, first out basis.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Havercroft's Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2

Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 8).

 

Havercroft's Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

316,205

316,205

At 31 March 2024

316,205

316,205

Amortisation

At 1 April 2023

281,482

281,482

Amortisation charge

31,620

31,620

At 31 March 2024

313,102

313,102

Carrying amount

At 31 March 2024

3,103

3,103

At 31 March 2023

34,724

34,724

 

Havercroft's Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Computer equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 April 2023

55,048

78,277

6,951

53,025

193,301

Additions

2,345

-

383

1,256

3,984

At 31 March 2024

57,393

78,277

7,334

54,281

197,285

Depreciation

At 1 April 2023

35,730

64,851

5,370

23,694

129,645

Charge for the year

3,249

3,356

1,058

4,624

12,287

At 31 March 2024

38,979

68,207

6,428

28,318

141,932

Carrying amount

At 31 March 2024

18,414

10,070

906

25,963

55,353

At 31 March 2023

19,318

13,426

1,581

29,331

63,656

6

Stocks

2024
£

2023
£

Closing stock

14,789

11,907

 

Havercroft's Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

126,144

129,913

Prepayments

11,512

4,733

 

137,656

134,646

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

103,267

67,577

Taxation and social security

32,749

37,969

Accruals and deferred income

6,387

8,513

Other creditors

22,066

43,975

164,469

158,034