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Registered number: SC536201










BEL'S BUTCHERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
BEL'S BUTCHERS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Annabel Lettice Forbes 
John Forbes 




REGISTERED NUMBER
SC536201



REGISTERED OFFICE
Westby
64 West High Street

Forfar

Angus

DD8 1BJ




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Westby

64 West High Street

Forfar

Angus

DD8 1BJ





 
BEL'S BUTCHERS LIMITED
REGISTERED NUMBER: SC536201

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible fixed assets
  
406,521
388,081

  
406,521
388,081

CURRENT ASSETS
  

Stocks
  
12,000
12,000

Debtors Within One Year
 5 
48,935
45,813

Bank and cash balances
  
151,649
146,197

  
212,584
204,010

Creditors: amounts falling due within one year
 6 
(220,430)
(205,757)

NET CURRENT LIABILITIES
  
 
 
(7,846)
 
 
(1,747)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
398,675
386,334

Creditors: amounts falling due after more than one year
 7 
(156,734)
(170,109)

PROVISIONS FOR LIABILITIES
  

Deferred tax
  
(9,857)
(5,213)

  
 
 
(9,857)
 
 
(5,213)

NET ASSETS
  
232,084
211,012


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
231,984
210,912

  
232,084
211,012


Page 1

 
BEL'S BUTCHERS LIMITED
REGISTERED NUMBER: SC536201

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 SEPTEMBER 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 year 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 income and retained earnings 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 21 March 2025.




Annabel Lettice Forbes
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BEL'S BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

The company is limited by shares and incorporated in Scotland. The address of the registered office is Westby, 64 West High Street, Forfar, Angus, United Kingdom, DD8 1BJ. The companies principal place of business is 25a High Street, Edzell, Angus DD9 7TE.

The financial statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

Page 3

 
BEL'S BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.3
TANGIBLE FIXED ASSETS (CONTINUED)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Website
-
33%
reducing balance

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.

 
2.4

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 first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.5

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
BEL'S BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

CURRENT AND DEFERRED TAXATION

The tax expense for the year 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 reporting 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 reporting 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 reporting date.



3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 25 (2023 - 25).

Page 5

 
BEL'S BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


TANGIBLE FIXED ASSETS





Land and buildings
Plant and machinery
Motor vehicles
Website
Total

£
£
£
£
£



COST OR VALUATION


At 1 October 2023
366,480
49,483
25,480
50
441,493


Additions
-
1,192
30,595
-
31,787



At 30 September 2024

366,480
50,675
56,075
50
473,280



DEPRECIATION


At 1 October 2023
-
31,281
22,081
50
53,412


Charge for the year on owned assets
-
4,848
8,499
-
13,347



At 30 September 2024

-
36,129
30,580
50
66,759



NET BOOK VALUE



At 30 September 2024
366,480
14,546
25,495
-
406,521



At 30 September 2023
366,480
18,202
3,399
-
388,081


5.


DEBTORS

2024
2023
£
£


Trade debtors
39,963
36,174

Other debtors
8,972
9,639

48,935
45,813


Page 6

 
BEL'S BUTCHERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
13,110
12,845

Trade creditors
78,525
62,997

Other taxation and social security
18,957
28,516

Other creditors
109,838
101,399

220,430
205,757



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
156,734
170,109

156,734
170,109



8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



Page 7