4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-06-26 Sage Accounts Production Advanced 2023 - FRS102_2023 2 2 2 xbrli:pure xbrli:shares iso4217:GBP 08112243 2023-06-26 2024-06-30 08112243 2024-06-30 08112243 2023-06-25 08112243 2022-06-27 2023-06-25 08112243 2023-06-25 08112243 2022-06-26 08112243 core:LandBuildings core:LongLeaseholdAssets 2023-06-26 2024-06-30 08112243 core:FurnitureFittings 2023-06-26 2024-06-30 08112243 bus:OrdinaryShareClass1 2023-06-26 2024-06-30 08112243 bus:Director2 2023-06-26 2024-06-30 08112243 core:WithinOneYear 2024-06-30 08112243 core:WithinOneYear 2023-06-25 08112243 core:LandBuildings 2023-06-25 08112243 core:FurnitureFittings 2023-06-25 08112243 core:LandBuildings 2024-06-30 08112243 core:FurnitureFittings 2024-06-30 08112243 core:ShareCapital 2024-06-30 08112243 core:ShareCapital 2023-06-25 08112243 core:SharePremium 2024-06-30 08112243 core:SharePremium 2023-06-25 08112243 core:RetainedEarningsAccumulatedLosses 2024-06-30 08112243 core:RetainedEarningsAccumulatedLosses 2023-06-25 08112243 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 08112243 core:Non-currentFinancialInstruments 2024-06-30 08112243 core:Non-currentFinancialInstruments 2023-06-25 08112243 core:FurnitureFittings 2023-06-25 08112243 bus:SmallEntities 2023-06-26 2024-06-30 08112243 bus:AuditExempt-NoAccountantsReport 2023-06-26 2024-06-30 08112243 bus:SmallCompaniesRegimeForAccounts 2023-06-26 2024-06-30 08112243 bus:PrivateLimitedCompanyLtd 2023-06-26 2024-06-30 08112243 bus:FullAccounts 2023-06-26 2024-06-30 08112243 bus:OrdinaryShareClass1 2024-06-30 08112243 bus:OrdinaryShareClass1 2023-06-25
COMPANY REGISTRATION NUMBER: 08112243
MEATOLOGY LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 June 2024
MEATOLOGY LTD
BALANCE SHEET
30 June 2024
30 Jun 24
25 Jun 23
Note
£
£
£
£
Fixed assets
Tangible assets
5
39,801
Investments
6
2
2
----
-------
2
39,803
Current assets
Stocks
7
1,357
60,818
Debtors
8
515
36,944
Cash at bank and in hand
7,850
7,093
------
--------
9,722
104,855
Creditors: amounts falling due within one year
9
( 3,199,244)
( 3,206,856)
-----------
-----------
Net current liabilities
( 3,189,522)
( 3,102,001)
-----------
-----------
Total assets less current liabilities
( 3,189,520)
( 3,062,198)
-----------
-----------
Net liabilities
( 3,189,520)
( 3,062,198)
-----------
-----------
Capital and reserves
Called up share capital
10
87,156
87,156
Share premium account
3,744
3,744
Profit and loss account
( 3,280,420)
( 3,153,098)
-----------
-----------
Shareholders deficit
( 3,189,520)
( 3,062,198)
-----------
-----------
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 profit and loss account has not been delivered.
For the period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
MEATOLOGY LTD
BALANCE SHEET (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 10 March 2025 , and are signed on behalf of the board by:
H S Grewal
Director
Company registration number: 08112243
MEATOLOGY LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 26 JUNE 2023 TO 30 JUNE 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 12 North Bar, Banbury, OX16 0TB.
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. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Going concern These financial statements have been prepared on a basis other than going concern. The company ceased trading during the year.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
The turnover shown in the profit and loss account represents amounts for goods sold during the year, exclusive of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Leasehold improvements
-
10% straight line
Fixtures and fittings
-
20% straight line
Investments in subsidiary
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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
Basic financial assets, which include loans to related parties and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables and loans from other related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Employee benefits Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 4 (2023: 12 ).
5. Tangible assets
Leasehold improvements
Fixtures and fittings
Total
£
£
£
Cost
At 26 June 2023 and 30 June 2024
108,470
256,148
364,618
--------
--------
--------
Depreciation
At 26 June 2023
108,470
216,347
324,817
Charge for the period
10,482
10,482
Impairment losses
29,319
29,319
--------
--------
--------
At 30 June 2024
108,470
256,148
364,618
--------
--------
--------
Carrying amount
At 30 June 2024
--------
--------
--------
At 25 June 2023
39,801
39,801
--------
--------
--------
6. Investments
Shares in group undertakings
£
Cost
At 26 June 2023 and 30 June 2024
2
----
Impairment
At 26 June 2023 and 30 June 2024
----
Carrying amount
At 30 June 2024
2
----
At 25 June 2023
2
----
7. Stocks
30 Jun 24
25 Jun 23
£
£
Raw materials and consumables
1,357
60,818
------
-------
8. Debtors
30 Jun 24
25 Jun 23
£
£
Trade debtors
515
1,486
Other debtors
35,458
----
-------
515
36,944
----
-------
Debtors include an amount of £Nil (2023: £7,000) which is due after more than one year.
9. Creditors: amounts falling due within one year
30 Jun 24
25 Jun 23
£
£
Trade creditors
40,578
Accruals and deferred income
2,710
43,325
Social security and other taxes
6,418
Director loan accounts
609,952
609,952
Amounts owed to related parties
2,586,582
2,506,583
-----------
-----------
3,199,244
3,206,856
-----------
-----------
10. Called up share capital
Issued, called up and fully paid
30 Jun 24
25 Jun 23
No.
£
No.
£
Ordinary A shares of £ 1 each
87,156
87,156
87,156
87,156
-------
-------
-------
-------