Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-282024-06-282023-07-01falseNo description of principal activity1813truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06923703 2023-07-01 2024-06-28 06923703 2022-07-02 2023-06-30 06923703 2024-06-28 06923703 2023-06-30 06923703 c:Director2 2023-07-01 2024-06-28 06923703 d:PlantMachinery 2023-07-01 2024-06-28 06923703 d:PlantMachinery 2024-06-28 06923703 d:PlantMachinery 2023-06-30 06923703 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-28 06923703 d:MotorVehicles 2023-07-01 2024-06-28 06923703 d:MotorVehicles 2024-06-28 06923703 d:MotorVehicles 2023-06-30 06923703 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-28 06923703 d:FurnitureFittings 2023-07-01 2024-06-28 06923703 d:FurnitureFittings 2024-06-28 06923703 d:FurnitureFittings 2023-06-30 06923703 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-28 06923703 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-28 06923703 d:CurrentFinancialInstruments 2024-06-28 06923703 d:CurrentFinancialInstruments 2023-06-30 06923703 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-28 06923703 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06923703 d:ShareCapital 2024-06-28 06923703 d:ShareCapital 2023-06-30 06923703 d:RetainedEarningsAccumulatedLosses 2024-06-28 06923703 d:RetainedEarningsAccumulatedLosses 2023-06-30 06923703 c:FRS102 2023-07-01 2024-06-28 06923703 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-28 06923703 c:FullAccounts 2023-07-01 2024-06-28 06923703 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-28 06923703 e:PoundSterling 2023-07-01 2024-06-28 iso4217:GBP xbrli:pure

Registered number: 06923703









SMITHFIELD (WHOLESALE BUTCHERS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE 52 WEEKS ENDED 28 JUNE 2024

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
REGISTERED NUMBER: 06923703

BALANCE SHEET
AS AT 28 JUNE 2024

28 June
28 June
30 June
30 June
2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
70,390
61,245

  
70,390
61,245

Current assets
  

Stocks
  
62,327
57,212

Debtors: amounts falling due within one year
 5 
184,351
186,974

Cash at bank and in hand
 6 
312,621
178,400

  
559,299
422,586

Creditors: amounts falling due within one year
 7 
(168,477)
(226,897)

Net current assets
  
 
 
390,822
 
 
195,689

Total assets less current liabilities
  
461,212
256,934

Provisions for liabilities
  

Deferred tax
  
(16,398)
-

  
 
 
(16,398)
 
 
-

Net assets
  
444,814
256,934


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
444,714
256,834

  
444,814
256,934

Page 1

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
REGISTERED NUMBER: 06923703
    
BALANCE SHEET (CONTINUED)
AS AT 28 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the 52 weeks in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 February 2025.



J W Crosby
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 28 JUNE 2024

1.


General information

Smithfield Wholesale Butchers Limited is a private company limited by shares and incorporated in England and Wales with registration number 06923703. Its registered office is Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company is that of a wholesale butchers; purchasing meat, cutting, repackaging and selling on to restaurants, caterers and other businesses.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The following principal accounting policies have been applied.

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods supplied during the 52 weeks, exclusive of Value Added Tax and trade discounts. Turnover is recognised on dispatch of goods.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 28 JUNE 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the 52 weeks comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

Tangible fixed assets

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
10%
straight line
Motor vehicles
-
20%
straight line
Fixtures & fittings
-
10%
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.

Page 4

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 28 JUNE 2024

2.Accounting policies (continued)

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the 52 weeks was 18 (2023 - 13).

Page 5

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 28 JUNE 2024

4.


Tangible fixed assets







Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
45,012
90,199
126,596
261,807


Additions
9,000
-
21,077
30,077


Disposals
-
-
(3,942)
(3,942)



At 28 June 2024

54,012
90,199
143,731
287,942



Depreciation


At 1 July 2023
21,826
62,181
116,555
200,562


Charge for the 52 weeks on owned assets
4,163
9,340
3,730
17,233


Disposals
-
-
(243)
(243)



At 28 June 2024

25,989
71,521
120,042
217,552



Net book value



At 28 June 2024
28,023
18,678
23,689
70,390



At 30 June 2023
23,186
28,018
10,041
61,245

Page 6

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 28 JUNE 2024

5.


Debtors

28 June
30 June
2024
2023
£
£


Trade debtors
130,355
127,621

Other debtors
7,142
13,183

Prepayments and accrued income
46,854
46,170

184,351
186,974



6.


Cash and cash equivalents

28 June
30 June
2024
2023
£
£

Cash at bank and in hand
312,621
178,400

312,621
178,400



7.


Creditors: Amounts falling due within one year

28 June
30 June
2024
2023
£
£

Trade creditors
89,604
165,151

Corporation tax
31,409
-

Other taxation and social security
15,151
11,764

Other creditors
1,537
1,139

Accruals and deferred income
30,776
48,843

168,477
226,897



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £13,516 (2023: £12,460). Contributions totalling £1,538 (2023: £1,139) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
SMITHFIELD (WHOLESALE BUTCHERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 52 WEEKS ENDED 28 JUNE 2024

9.


Related party transactions

Key management personnel compensation in the year totalled £72,960 (2023: £39,560).


10.


Controlling party

The ultimate parent company is All Stars Finance Limited, a company incorporated in England and Wales. 
 
Page 8