Registered number
09687283
Withington Meats Ltd
Filleted Accounts
31 July 2024
Withington Meats Ltd
Registered number: 09687283
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 57,900 57,900
Tangible assets 4 126,808 138,645
184,708 196,545
Current assets
Stocks 5,014 10,316
Debtors 5 1,113,186 848,776
Cash at bank and in hand 217,930 163,111
1,336,130 1,022,203
Creditors: amounts falling due within one year 6 (724,944) (587,680)
Net current assets 611,186 434,523
Total assets less current liabilities 795,894 631,068
Creditors: amounts falling due after more than one year 7 (45,410) (55,399)
Net assets 750,484 575,669
Capital and reserves
Called up share capital 100 100
Profit and loss account 750,384 575,569
Shareholders' funds 750,484 575,669
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Yassin El-Ali
Director
Approved by the board on 31 October 2024
Withington Meats Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Vans 20% reducing balance
Fixtures, fittings and equipment 15% reducing balance
Computer equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 13 12
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 57,900
At 31 July 2024 57,900
Amortisation
At 31 July 2024 -
Net book value
At 31 July 2024 57,900
At 31 July 2023 57,900
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computer equipment Fixture, fittings and equipment Vans Total
£ £ £ £
Cost
At 1 August 2023 1,049 154,332 68,900 224,281
Additions - 13,003 - 13,003
At 31 July 2024 1,049 167,335 68,900 237,284
Depreciation
At 1 August 2023 706 57,231 27,699 85,636
Charge for the year 86 16,516 8,238 24,840
At 31 July 2024 792 73,747 35,937 110,476
Net book value
At 31 July 2024 257 93,588 32,963 126,808
At 31 July 2023 343 97,101 41,201 138,645
5 Debtors 2024 2023
£ £
Trade debtors 402,715 361,884
Loan to associate companies 700,498 468,498
Other debtors 9,973 18,394
1,113,186 848,776
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 612,684 489,457
Taxation and social security costs 99,772 79,079
Accruals 12,488 19,144
724,944 587,680
7 Creditors: amounts falling due after one year 2024 2023
£ £
Private loans 20,000 20,000
Bank loan 25,000 35,000
Direvtor loan 410 399
45,410 55,399
8 Other information
Withington Meats Ltd is a private company limited by shares and incorporated in England. Its registered office is:
511 Wilmslow Road
Manchester
M20 4BA
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