2023-09-082024-09-302024-09-30false15124599The Meat Hut 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The Meat Hut Ltd

Registered Number
15124599
(England and Wales)

Unaudited Financial Statements for the Period ended
30 September 2024

The Meat Hut Ltd
Company Information
for the period from 8 September 2023 to 30 September 2024

Directors

Mr K A M Davis
Mr J T Pritchard

Registered Address

Fold Farm
Station Lane
Longhope
GL17 0NA

Registered Number

15124599 (England and Wales)
The Meat Hut Ltd
Statement of Financial Position
30 September 2024

Notes

2024

£

£

Fixed assets
Tangible assets3277
277
Current assets
Stocks42,106
Debtors8,880
Cash at bank and on hand3,244
14,230
Creditors amounts falling due within one year5(6,261)
Net current assets (liabilities)7,969
Total assets less current liabilities8,246
Creditors amounts falling due after one year6(3,233)
Provisions for liabilities7(53)
Net assets4,960
Capital and reserves
Called up share capital100
Profit and loss account4,860
Shareholders' funds4,960
The financial statements were approved and authorised for issue by the Board of Directors on 28 December 2024, and are signed on its behalf by:
Mr J T Pritchard
Director
Registered Company No. 15124599
The Meat Hut Ltd
Notes to the Financial Statements
for the period ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised. Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the company has transferred the significant risks and rewards of ownership to the buyer; - the company retains no continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect the transaction can be measured reliably. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis: Office equipment - 3 years straight line Plant and machinery - 4 years straight line The assets; residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in the profit or loss account.
2.Average number of employees

2024
Average number of employees during the year0
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
Additions250124374
At 30 September 24250124374
Depreciation and impairment
Charge for year633497
At 30 September 24633497
Net book value
At 30 September 2418790277
At 07 September 23---
4.Stocks

2024

£
Raw materials and consumables2,106
Total2,106
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables318
Bank borrowings and overdrafts2,621
Taxation and social security1,322
Other creditors2,000
Total6,261
6.Creditors: amounts due after one year

2024

£
Bank borrowings and overdrafts3,233
Total3,233
7.Provisions for liabilities

2024

£
Net deferred tax liability (asset)53
Total53
8.Directors advances, credits and guarantees
During the year the company operated loan accounts with the directors of the company. The amount due from them at the year end was £4,965. These loans are interest free and repayable on demand.