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REGISTERED NUMBER: 13458369 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

J & S MEATS LTD

J & S MEATS LTD (REGISTERED NUMBER: 13458369)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J & S MEATS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R V Creech
A M Findlay





REGISTERED OFFICE: Unit 5a Bridgewater Close
Reading
Berkshire
RG30 1JT





REGISTERED NUMBER: 13458369 (England and Wales)

J & S MEATS LTD (REGISTERED NUMBER: 13458369)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 69,750 100,750
Tangible assets 5 70,717 58,815
140,467 159,565

CURRENT ASSETS
Stocks 26,251 27,361
Debtors 6 281,436 228,476
Cash at bank 44,979 -
352,666 255,837
CREDITORS
Amounts falling due within one year 7 400,568 248,931
NET CURRENT (LIABILITIES)/ASSETS (47,902 ) 6,906
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,565

166,471

CREDITORS
Amounts falling due after more than one
year

8

(66,898

)

(107,515

)

PROVISIONS FOR LIABILITIES (1,660 ) (1,819 )
NET ASSETS 24,007 57,137

J & S MEATS LTD (REGISTERED NUMBER: 13458369)

BALANCE SHEET - continued
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 23,007 56,137
24,007 57,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





A M Findlay - Director


J & S MEATS LTD (REGISTERED NUMBER: 13458369)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

J & S Meats Ltd is a private company, limited by shares, registered in England and Wales. The Company's registered number is 13458369 and the registered office is Unit 5a Bridgewater Close, Reading, Berkshire, United Kingdom, RG30 1JT.

The principal activity of the company is the wholesale and retail supply of meat and meat products.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Sterling, which is also the functional currency of the company.

Going concern
The directors are not aware of any material uncertainties that may cast significant doubt over the ability of the company to continue trading. The preparation of the financial statements on the going concern basis is therefore deemed appropriate.

Turnover
Sales revenue (described as turnover) is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue is recognised on delivery of goods for trade sales and at the point of sale for retail sales.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives as below:

Plant and machinery- Straight line over 4 years
Commercial vehicles- 25% Reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any.

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

J & S MEATS LTD (REGISTERED NUMBER: 13458369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation
Tax on profit represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the year.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities and the corresponding tax bases used to compute taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for temporary differences to the extent that it is probable that taxable profits will be available to utilise the timing difference.

Deferred tax liabilities and assets are measured at tax rates that are expected to apply in the period the liability is settled or the asset realised. The measurement of deferred tax liabilities and assets reflects the tax consequences in which the company expects to recover or settle the underlying amount of its assets and liabilities.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

J & S MEATS LTD (REGISTERED NUMBER: 13458369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 155,000
AMORTISATION
At 1 May 2023 54,250
Charge for year 31,000
At 30 April 2024 85,250
NET BOOK VALUE
At 30 April 2024 69,750
At 30 April 2023 100,750

On 1 August 2021, the Company purchased the business assets and goodwill of J & S Meats.

5. TANGIBLE FIXED ASSETS
Plant and Commercial
machinery vehicles Totals
£    £    £   
COST
At 1 May 2023 23,395 55,565 78,960
Additions 1,200 38,000 39,200
Disposals - (9,000 ) (9,000 )
At 30 April 2024 24,595 84,565 109,160
DEPRECIATION
At 1 May 2023 5,322 14,823 20,145
Charge for year 5,875 16,818 22,693
Eliminated on disposal - (4,395 ) (4,395 )
At 30 April 2024 11,197 27,246 38,443
NET BOOK VALUE
At 30 April 2024 13,398 57,319 70,717
At 30 April 2023 18,073 40,742 58,815

J & S MEATS LTD (REGISTERED NUMBER: 13458369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023 61,365
Additions 38,000
Transfer to ownership (2,300 )
At 30 April 2024 97,065
DEPRECIATION
At 1 May 2023 13,681
Charge for year 19,064
Transfer to ownership (498 )
At 30 April 2024 32,247
NET BOOK VALUE
At 30 April 2024 64,818
At 30 April 2023 47,684

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 260,757 215,262
Other debtors 20,679 13,214
281,436 228,476

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 54,492 11,615
Hire purchase contracts 25,161 13,131
Trade creditors 202,364 116,957
Taxation and social security 21,089 23,468
Other creditors 97,462 83,760
400,568 248,931

J & S MEATS LTD (REGISTERED NUMBER: 13458369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 34,398 32,515
Other creditors 32,500 75,000
66,898 107,515

9. OTHER FINANCIAL COMMITMENTS

As at the balance sheet date the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £18,000 (2023 - £32,400).