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REGISTERED NUMBER: 05142707 (England and Wales)















BANKWOOD MEATS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 OCTOBER 2024






BANKWOOD MEATS LIMITED (REGISTERED NUMBER: 05142707)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BANKWOOD MEATS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: A J Bennett





REGISTERED OFFICE: Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU





REGISTERED NUMBER: 05142707 (England and Wales)






BANKWOOD MEATS LIMITED (REGISTERED NUMBER: 05142707)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 268,374 263,668

CURRENT ASSETS
Stocks 93,694 90,550
Debtors 5 526,682 495,492
Cash at bank and in hand 382,518 168,105
1,002,894 754,147
CREDITORS
Amounts falling due within one year 6 598,152 522,775
NET CURRENT ASSETS 404,742 231,372
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,116

495,040

PROVISIONS FOR LIABILITIES 66,520 65,217
NET ASSETS 606,596 429,823

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 596,596 419,823
SHAREHOLDERS' FUNDS 606,596 429,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BANKWOOD MEATS LIMITED (REGISTERED NUMBER: 05142707)

BALANCE SHEET - continued
31 OCTOBER 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 March 2025 and were signed by:





A J Bennett - Director


BANKWOOD MEATS LIMITED (REGISTERED NUMBER: 05142707)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Bankwood Meats Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 10% Reducing balance
Furniture and fixtures - 10% Reducing balance
Motor vehicles - 25% Straight line
Office equipment - 33% Straight line

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


BANKWOOD MEATS LIMITED (REGISTERED NUMBER: 05142707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023 494,964
Additions 86,618
Disposals (163,086 )
At 31 October 2024 418,496
DEPRECIATION
At 1 November 2023 231,296
Charge for year 37,279
Eliminated on disposal (118,453 )
At 31 October 2024 150,122
NET BOOK VALUE
At 31 October 2024 268,374
At 31 October 2023 263,668

BANKWOOD MEATS LIMITED (REGISTERED NUMBER: 05142707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2023 33,995
Transfer to ownership (33,995 )
At 31 October 2024 -
DEPRECIATION
At 1 November 2023 15,581
Charge for year 8,499
Transfer to ownership (24,080 )
At 31 October 2024 -
NET BOOK VALUE
At 31 October 2024 -
At 31 October 2023 18,414

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 412,774 396,560
Amounts owed by group undertakings 71,490 71,490
Other debtors 42,418 27,442
526,682 495,492

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 4,792
Trade creditors 206,001 234,033
Taxation and social security 72,892 29,342
Other creditors 319,259 254,608
598,152 522,775

BANKWOOD MEATS LIMITED (REGISTERED NUMBER: 05142707)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 4,792
Debt factoring facility 304,122 230,923
304,122 235,715

8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date there are other financial commitments, that are not in the financial statements, of £536 (2023: £6,963).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Bankwood Meats Holdings Ltd.

The ultimate controlling party is A J Bennett.