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COMPANY REGISTRATION NUMBER: 4627705
A Holmes (Butchers) Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2024
A Holmes (Butchers) Limited
Financial Statements
Year ended 31 October 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
A Holmes (Butchers) Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
8,750
17,500
Tangible assets
6
11,364
13,077
--------
--------
20,114
30,577
Current assets
Stocks
4,000
3,000
Debtors
7
5,074
5,597
Cash at bank and in hand
100,210
91,412
---------
---------
109,284
100,009
Creditors: amounts falling due within one year
8
55,774
38,837
---------
---------
Net current assets
53,510
61,172
--------
--------
Total assets less current liabilities
73,624
91,749
--------
--------
Net assets
73,624
91,749
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
73,524
91,649
--------
--------
Shareholders funds
73,624
91,749
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A Holmes (Butchers) Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 4 March 2025 , and are signed on behalf of the board by:
Mr Andrew Holmes
Director
Company registration number: 4627705
A Holmes (Butchers) Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 52, High Street, Coalville, Leicestershire, LE67 3EE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 6 ).
5. Intangible assets
Goodwill
£
Cost
At 1 November 2023 and 31 October 2024
175,000
---------
Amortisation
At 1 November 2023
157,500
Charge for the year
8,750
---------
At 31 October 2024
166,250
---------
Carrying amount
At 31 October 2024
8,750
---------
At 31 October 2023
17,500
---------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2023
38,871
45,842
10,034
94,747
Additions
2,075
2,075
--------
--------
--------
--------
At 31 October 2024
38,871
45,842
12,109
96,822
--------
--------
--------
--------
Depreciation
At 1 November 2023
37,983
34,759
8,928
81,670
Charge for the year
222
2,771
795
3,788
--------
--------
--------
--------
At 31 October 2024
38,205
37,530
9,723
85,458
--------
--------
--------
--------
Carrying amount
At 31 October 2024
666
8,312
2,386
11,364
--------
--------
--------
--------
At 31 October 2023
888
11,083
1,106
13,077
--------
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
1,500
1,500
Other debtors
3,574
4,097
-------
-------
5,074
5,597
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
23,232
4,662
Corporation tax
24,516
26,607
Social security and other taxes
2,758
3,443
Other creditors
5,268
4,125
--------
--------
55,774
38,837
--------
--------
9. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102 Section 1A.