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REGISTERED NUMBER: 05278694 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Yorkshire Dales Meat Company Ltd

Yorkshire Dales Meat Company Ltd (Registered number: 05278694)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Yorkshire Dales Meat Company Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: T S Knox
P A Knox
T J Knox





SECRETARY: T S Knox





REGISTERED OFFICE: Yorkshire Dales House
Hackforth
BEDALE
North Yorkshire
DL8 1FN





REGISTERED NUMBER: 05278694 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Yorkshire Dales Meat Company Ltd (Registered number: 05278694)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 86,816 93,890
Tangible assets 5 639,456 462,761
726,272 556,651

CURRENT ASSETS
Stocks 6 134,918 115,718
Debtors 7 202,974 184,695
Cash in hand 2,542 3,375
340,434 303,788
CREDITORS
Amounts falling due within one year 8 743,392 694,337
NET CURRENT LIABILITIES (402,958 ) (390,549 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

323,314

166,102

CREDITORS
Amounts falling due after more than one
year

9

176,994

25,557
NET ASSETS 146,320 140,545

CAPITAL AND RESERVES
Called up share capital 12 250,000 250,000
Retained earnings (103,680 ) (109,455 )
SHAREHOLDERS' FUNDS 146,320 140,545

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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 directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

Yorkshire Dales Meat Company Ltd (Registered number: 05278694)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 October 2024 and were signed on its behalf by:





T S Knox - Director


Yorkshire Dales Meat Company Ltd (Registered number: 05278694)

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

1. STATUTORY INFORMATION

Yorkshire Dales Meat Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" 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 cost convention.

There were no material departures from this standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income recognition
Turnover represents the amount derived from the provision of goods to customers after deduction of trade discounts, rebates, value added tax and other sales taxes. Turnover is recognised at the point at which the goods are transferred to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Equipment - 15% on reducing balance
Office Equipment - 33% on cost, 20% on cost and 10% - 33% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are held at cost less accumulated depreciation and impairment losses.

The directors consider that the residual value of freehold property is equal to or greater than the carrying value within the accounts. Accordingly, no depreciation has been recognised in the period.

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

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.


Yorkshire Dales Meat Company Ltd (Registered number: 05278694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 141,482
AMORTISATION
At 1 April 2023 47,592
Amortisation for year 7,074
At 31 March 2024 54,666
NET BOOK VALUE
At 31 March 2024 86,816
At 31 March 2023 93,890

Yorkshire Dales Meat Company Ltd (Registered number: 05278694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to
property property Equipment
£    £    £   
COST
At 1 April 2023 250,000 54,474 265,862
Additions - 191,624 10,586
Disposals - - (2,630 )
At 31 March 2024 250,000 246,098 273,818
DEPRECIATION
At 1 April 2023 - 11,840 159,458
Charge for year - 4,984 16,252
Eliminated on disposal - - (1,787 )
At 31 March 2024 - 16,824 173,923
NET BOOK VALUE
At 31 March 2024 250,000 229,274 99,895
At 31 March 2023 250,000 42,634 106,404

Office Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 April 2023 46,366 262,428 879,130
Additions 18,622 - 220,832
Disposals - (50,705 ) (53,335 )
At 31 March 2024 64,988 211,723 1,046,627
DEPRECIATION
At 1 April 2023 37,918 207,153 416,369
Charge for year 4,019 12,412 37,667
Eliminated on disposal - (45,078 ) (46,865 )
At 31 March 2024 41,937 174,487 407,171
NET BOOK VALUE
At 31 March 2024 23,051 37,236 639,456
At 31 March 2023 8,448 55,275 462,761

6. STOCKS
2024 2023
£    £   
Stocks 134,918 115,718

Yorkshire Dales Meat Company Ltd (Registered number: 05278694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 199,188 181,711
Other debtors 2,513 -
Directors' current accounts - 1,488
Prepayments and accrued income 1,273 1,496
202,974 184,695

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 430,631 412,169
Hire purchase contracts (see note 10) 2,217 20,903
Trade creditors 267,393 223,062
Taxation and social security 9,807 6,994
Other creditors 8,125 9,324
Directors' current accounts 6,654 -
Accruals and deferred income 18,565 21,885
743,392 694,337

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 23,663 8,333
Bank loans - 2-5 years 58,461 15,007
Bank loans more 5 yrs non-inst 94,870 -
Hire purchase contracts (see note 10) - 2,217
176,994 25,557

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 94,870 -

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 2,217 20,903
Between one and five years - 2,217
2,217 23,120

Yorkshire Dales Meat Company Ltd (Registered number: 05278694)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 387 516
Between one and five years - 84
387 600

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 408,119 399,129
Bank loans 199,506 36,380
Hire purchase contracts 2,217 23,120
609,842 458,629

The bank, Lloyds TSB, have a floating charge over all the company's assets.
Hire purchase is secured upon the asset to which it relates.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
137,500 Ordinary A £1 137,500 137,500
25,000 Ordinary B £1 25,000 25,000
87,500 Ordinary C £1 87,500 87,500
250,000 250,000

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
T S Knox and P A Knox
Balance outstanding at start of year 1,488 1,000
Amounts advanced - 1,488
Amounts repaid (1,488 ) (1,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,488