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Registered number: 10316450
Stoneleigh Family Butchers Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10316450
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 214,957 243,063
214,957 243,063
CURRENT ASSETS
Stocks 5 6,079 4,170
Debtors 6 177,456 206,030
Cash at bank and in hand 10,366 165
193,901 210,365
Creditors: Amounts Falling Due Within One Year 7 (308,920 ) (251,556 )
NET CURRENT ASSETS (LIABILITIES) (115,019 ) (41,191 )
TOTAL ASSETS LESS CURRENT LIABILITIES 99,938 201,872
Creditors: Amounts Falling Due After More Than One Year 8 (98,554 ) (126,878 )
NET ASSETS 1,384 74,994
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 1,284 74,894
SHAREHOLDERS' FUNDS 1,384 74,994
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Leigh Scantlin
Director
8th February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Stoneleigh Family Butchers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10316450 . The registered office is 17 Oakdene Parade,, Cobham,, Surrey,, KT11 2LR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% reducing balance
Leasehold 20% reducing balance
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense 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 profit as reported in the statement of comprehensive income 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 reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles
£ £ £ £
Cost
As at 1 September 2023 56,761 120,000 52,017 5,950
Additions 120,000 (120,000 ) - -
As at 31 August 2024 176,761 - 52,017 5,950
Depreciation
As at 1 September 2023 30,352 - 35,997 1,785
Provided during the period 13,282 - 3,204 595
As at 31 August 2024 43,634 - 39,201 2,380
Net Book Value
As at 31 August 2024 133,127 - 12,816 3,570
As at 1 September 2023 26,409 120,000 16,020 4,165
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 September 2023 134,074 964 369,766
Additions 2,608 - 2,608
As at 31 August 2024 136,682 964 372,374
Depreciation
As at 1 September 2023 58,145 424 126,703
Provided during the period 13,315 318 30,714
As at 31 August 2024 71,460 742 157,417
Net Book Value
As at 31 August 2024 65,222 222 214,957
As at 1 September 2023 75,929 540 243,063
Page 4
Page 5
5. Stocks
2024 2023
£ £
Finished goods 6,079 4,170
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,213 16,463
Prepayments and accrued income 10,194 9,809
Other debtors 10,000 7,500
Rent deposit 19,800 19,800
VAT - 6,609
Director's loan account - 145,849
Amounts owed by group undertakings 120,249 -
177,456 206,030
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 73,627 54,656
Bank loans and overdrafts 107,564 107,500
Corporation tax 40,220 20,995
Other taxes and social security 5,342 16,379
VAT 204 -
Other creditors 6,418 52,026
Amounts owed to associates 75,545 -
308,920 251,556
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 98,554 126,878
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 September 2023 Amounts advanced Amounts repaid Amounts written off As at 31 August 2024
£ £ £ £ £
Mr Leigh Scantlin 145,850 - - - 145,850
The above loan is unsecured, interest free and repayable on demand.
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