Company registration number 07276376 (England and Wales)
ARTISAN BUTCHER LIMITED, THE
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
ARTISAN BUTCHER LIMITED, THE
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
ARTISAN BUTCHER LIMITED, THE
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ARTISAN BUTCHER LIMITED, THE FOR THE YEAR ENDED 29 FEBRUARY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Artisan Butcher Limited, The for the year ended 29 February 2024 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Artisan Butcher Limited, The, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Artisan Butcher Limited, The and state those matters that we have agreed to state to the board of directors of Artisan Butcher Limited, The, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Artisan Butcher Limited, The and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Artisan Butcher Limited, The 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 Artisan Butcher Limited, The. You consider that Artisan Butcher Limited, The 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 Artisan Butcher Limited, The. 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.

Carpenter Box
30 November 2024
2024-11-30
Chartered Accountants
5 Peveril Court
6-8 London Road
Crawley
West Sussex
RH10 8JE
ARTISAN BUTCHER LIMITED, THE
BALANCE SHEET
AS AT 29 FEBRUARY 2024
29 February 2024
- 2 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
532,760
545,887
Current assets
Debtors
4
3,680,928
2,881,290
Cash at bank and in hand
121,780
372,399
3,802,708
3,253,689
Creditors: amounts falling due within one year
5
(1,038,433)
(834,523)
Net current assets
2,764,275
2,419,166
Total assets less current liabilities
3,297,035
2,965,053
Provisions for liabilities
(13,400)
(16,600)
Net assets
3,283,635
2,948,453
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
3,283,633
2,948,451
Total equity
3,283,635
2,948,453

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 30 November 2024
Mr M A Muscat
Director
Company registration number 07276376 (England and Wales)
ARTISAN BUTCHER LIMITED, THE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Artisan Butcher Limited, The is a private company limited by shares incorporated in England and Wales. The registered office is 11 Peckham Park Road, London, SE15 6TR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director had a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. true

 

The director had considered relevant information, including the company’s principal risks and uncertainties, and the impact of subsequent events in making their assessment.

 

Based on these assessments and having regard to the resources available to the entity, the director had concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciated
Plant and equipment
25% per annum on a diminishing balance basis
Computers
25% per annum on a diminishing balance basis
Motor vehicles
25% per annum on a diminishing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

The amounts included within land and buildings have not be depreciated as the value of the plot acquired is attributed to the land, which is not depreciated

ARTISAN BUTCHER LIMITED, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

ARTISAN BUTCHER LIMITED, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 6 (2023 - 6).

3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2023
479,107
82,874
13,852
165,350
741,183
Additions
-
0
2,547
1,370
-
0
3,917
At 29 February 2024
479,107
85,421
15,222
165,350
745,100
Depreciation and impairment
At 1 March 2023
-
0
69,186
3,877
122,233
195,296
Depreciation charged in the year
-
0
3,714
2,551
10,779
17,044
At 29 February 2024
-
0
72,900
6,428
133,012
212,340
Carrying amount
At 29 February 2024
479,107
12,521
8,794
32,338
532,760
At 28 February 2023
479,107
13,688
9,975
43,117
545,887
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
121,639
221,880
Other debtors
3,553,968
2,654,252
Prepayments and accrued income
5,321
5,158
3,680,928
2,881,290
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
35,233
28,195
Taxation and social security
127,315
175,798
Other creditors
875,885
630,530
1,038,433
834,523
ARTISAN BUTCHER LIMITED, THE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
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