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REGISTERED NUMBER: 02116013 (England and Wales)










Report of the Directors and

Unaudited Financial Statements

For The Year Ended 30 September 2024

for

Collicutt Meats Limited

Collicutt Meats Limited (Registered number: 02116013)






Contents of the Financial Statements
For The Year Ended 30 September 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Statement of Financial Position 4

Statement of Changes in Equity 5

Notes to the Financial Statements 6


Collicutt Meats Limited

Company Information
For The Year Ended 30 September 2024







DIRECTORS: P A Collicutt
G J Short
R H M Horner
A R D Jamieson



REGISTERED OFFICE: Unit 2, Leckhampton Dairy
Church Road
Leckhampton
Cheltenham
Gloucestershire
GL53 0QJ



REGISTERED NUMBER: 02116013 (England and Wales)



ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN



BANKERS: National Westminster Bank Plc
31 Promenade
Cheltenham
Gloucestershire
GL50 1LH

Collicutt Meats Limited (Registered number: 02116013)

Report of the Directors
For The Year Ended 30 September 2024

The directors present their report with the financial statements of the company for the year ended 30 September 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 October 2023 to the date of this report.

P A Collicutt
G J Short
R H M Horner
A R D Jamieson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R H M Horner - Director


2 December 2024

Collicutt Meats Limited (Registered number: 02116013)

Income Statement
For The Year Ended 30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   

TURNOVER 22,163,777 20,375,670

Cost of sales 17,692,527 16,657,731
GROSS PROFIT 4,471,250 3,717,939

Distribution costs 587,541 590,652
Administrative expenses 2,413,379 2,228,680
3,000,920 2,819,332
OPERATING PROFIT 4 1,470,330 898,607

Interest receivable and similar income 21,890 10,615
1,492,220 909,222

Interest payable and similar expenses - 212
PROFIT BEFORE TAXATION 1,492,220 909,010

Tax on profit 378,380 209,358
PROFIT FOR THE FINANCIAL YEAR 1,113,840 699,652

Collicutt Meats Limited (Registered number: 02116013)

Statement of Financial Position
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 263,629 288,101

CURRENT ASSETS
Stocks 302,612 257,012
Debtors 6 1,658,916 1,755,416
Cash at bank and in hand 1,113,518 594,466
3,075,046 2,606,894
CREDITORS
Amounts falling due within one year 7 1,636,520 1,296,581
NET CURRENT ASSETS 1,438,526 1,310,313
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,702,155

1,598,414

PROVISIONS FOR LIABILITIES 23,373 33,472
NET ASSETS 1,678,782 1,564,942

CAPITAL AND RESERVES
Called up share capital 16,000 16,000
Capital redemption reserve 1,000 1,000
Retained earnings 1,661,782 1,547,942
SHAREHOLDERS' FUNDS 1,678,782 1,564,942

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2024 and were signed on its behalf by:




R H M Horner - Director


Collicutt Meats Limited (Registered number: 02116013)

Statement of Changes in Equity
For The Year Ended 30 September 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 October 2022 16,000 1,498,290 1,000 1,515,290

Changes in equity
Dividends - (650,000 ) - (650,000 )
Total comprehensive income - 699,652 - 699,652
Balance at 30 September 2023 16,000 1,547,942 1,000 1,564,942

Changes in equity
Dividends - (1,000,000 ) - (1,000,000 )
Total comprehensive income - 1,113,840 - 1,113,840
Balance at 30 September 2024 16,000 1,661,782 1,000 1,678,782

Collicutt Meats Limited (Registered number: 02116013)

Notes to the Financial Statements
For The Year Ended 30 September 2024

1. STATUTORY INFORMATION

Collicutt Meats Limited 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 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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

Revenue from the sale of goods is recognised on delivery of the goods which is the point at which the significant risks and rewards of ownership of the goods have passed to the buyer.

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:

Leasehold propertyover remaining term of lease
Plant and machinery10% on cost
Fixtures and fittings10% on cost
Motor vehicles20% or 25% on cost
Computer equipment25% on cost

Assets held under finance leases are depreciated in the same way as owned assets.

At each year end, the Company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than the carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately as an expense in profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Collicutt Meats Limited (Registered number: 02116013)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, and bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.


Collicutt Meats Limited (Registered number: 02116013)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised as tangible fixed assets. 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 the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets that are held by Company under leases which transfer to the Company substantially all the risks and rewards of ownership are classified as being held under finance leases. Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at
the inception of the lease or, if lower, at the present value of the minimum lease payments. The
corresponding liability to the lessor is included in the statement of financial position as a finance lease
obligation. Lease payments are apportioned between finance expenses and reduction of the lease
obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance
expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying
assets, in which case they are capitalised. Contingent rentals are recognised as expenses in the period in which they are incurred.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term,
except where another systematic basis is more representative of the time pattern in which economic
benefits from the leased asset are consumed. Contingent rentals arising under operating leases are
recognised as an expense in the period in which they are incurred.

In the event that lease incentives are received to enter into operating leases, such incentives are
recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental
expense on a straight-line basis, except where another systematic basis is more representative of the
time pattern in which economic benefits from the leased asset are consumed.

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.

Stocks
Stocks are stated at the lower of cost and net realisable value. Net realisable value is based on the estimated selling price after making due allowance for slow moving stocks and stocks approaching their use by dates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 35 ) .

Collicutt Meats Limited (Registered number: 02116013)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

30.9.24 30.9.23
£    £   
Depreciation - owned assets 63,985 61,472
Profit on disposal of fixed assets (12,729 ) -
Contract hire costs 194,189 176,432
Operating lease rentals: Land and buildings 74,400 75,573

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2023 108,912 893,702 110,084
Additions - - -
Disposals - - -
At 30 September 2024 108,912 893,702 110,084
DEPRECIATION
At 1 October 2023 108,912 731,002 107,305
Charge for year - 22,341 348
Eliminated on disposal - - -
At 30 September 2024 108,912 753,343 107,653
NET BOOK VALUE
At 30 September 2024 - 140,359 2,431
At 30 September 2023 - 162,700 2,779

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 195,735 63,418 1,371,851
Additions 41,084 - 41,084
Disposals (31,430 ) - (31,430 )
At 30 September 2024 205,389 63,418 1,381,505
DEPRECIATION
At 1 October 2023 94,523 42,008 1,083,750
Charge for year 30,590 10,706 63,985
Eliminated on disposal (29,859 ) - (29,859 )
At 30 September 2024 95,254 52,714 1,117,876
NET BOOK VALUE
At 30 September 2024 110,135 10,704 263,629
At 30 September 2023 101,212 21,410 288,101


Collicutt Meats Limited (Registered number: 02116013)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 1,595,499 1,488,362
Amounts owed by group undertakings - 222,858
Other debtors 31,015 24,090
Prepayments and accrued income 32,402 20,106
1,658,916 1,755,416

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 1,043,042 1,028,155
Amounts owed to group undertakings 127,142 -
Corporation tax 260,123 99,134
Social security and other taxes 38,468 38,931
Other creditors 1,307 1,307
Accruals and deferred income 166,438 129,054
1,636,520 1,296,581