SOUTHFORK A.T.B. LTD

Company Registration Number:
05368954 (England and Wales)

Unaudited abridged accounts for the year ended 31 May 2024

Period of accounts

Start date: 01 June 2023

End date: 31 May 2024

SOUTHFORK A.T.B. LTD

Contents of the Financial Statements

for the Period Ended 31 May 2024

Balance sheet
Notes

SOUTHFORK A.T.B. LTD

Balance sheet

As at 31 May 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 177,738 174,504
Investments: 4 363,370 363,370
Total fixed assets: 541,108 537,874
Current assets
Stocks: 460,386 515,742
Debtors: 5 10,661 8,641
Cash at bank and in hand: 17,639 39,802
Total current assets: 488,686 564,185
Creditors: amounts falling due within one year: 6 (333,041) (362,718)
Net current assets (liabilities): 155,645 201,467
Total assets less current liabilities: 696,753 739,341
Creditors: amounts falling due after more than one year: 7 (288,920) (302,239)
Provision for liabilities: (1,642) (1,028)
Total net assets (liabilities): 406,191 436,074
Capital and reserves
Called up share capital: 1,200 1,200
Profit and loss account: 404,991 434,874
Shareholders funds: 406,191 436,074

The notes form part of these financial statements

SOUTHFORK A.T.B. LTD

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 February 2025
and signed on behalf of the board by:

Name: Mr C R D Green
Status: Director

The notes form part of these financial statements

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents amounts received during the year, excluding value added tax.

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures, fittings and equipment - 25% on reducing balance Depreciation has not been provided on freehold property as the directors maintain the property in such a condition that any depreciation would be immaterial.

Valuation and information policy

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

Other accounting policies

Investment property Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

2. Employees

2024 2023
Average number of employees during the period 5 5

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible Assets

Total
Cost £
At 01 June 2023 210,309
Additions 6,115
At 31 May 2024 216,424
Depreciation
At 01 June 2023 35,805
Charge for year 2,881
At 31 May 2024 38,686
Net book value
At 31 May 2024 177,738
At 31 May 2023 174,504

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Fixed investments

Fair value at 1 June 2023 and 31 May 2024 £363,370 Net book value At 31 May 2024 £363,370 At 31 May 2023 £363,370

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

6. Creditors: amounts falling due within one year note

Bank loans £20,491 (2023: £27,663) Trade creditors £209,770 (2023: £241,386) Corporation tax £0 (2023: £6,192) Social security and other taxes £1,108 (2023: £951) VAT £6,059 (2023: £0) Other creditors £6,500 (2023: £0) Accruals and deferred income £89,113 (2023: £86,526) Total £333,041 (2023: £362,718)

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

7. Creditors: amounts falling due after more than one year note

Bank loans 1-2 years £20,491 (2023: £27,663) Bank loans 2-5 years £63,479 (2023: £65,188) Bank loans more than 5 years £204,950 (2023: £209,388) Total £288,920 (2023: £302,239) Amounts falling due in more than five years: Repayable by instalments Bank loans more than 5 years £204,950 (2023: £209,388)

SOUTHFORK A.T.B. LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

8. Related party transactions

Name of the related party: Mr C R D Green & Mr N Butler
Relationship:
Directors
Description of the Transaction: The company paid rent during the year to both directors for use of land at the rear of the shop. The rent paid was on a normal commercial basis, and totalled £2,400 during the year.
£
Balance at 01 June 2023 0
Balance at 31 May 2024 0