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Registered number: 05309398
The London Meat Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
More Group (Accounting) Limited
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Directors Mr Andreas Georgiou
Mr James Moore
Mr Chris Burnham
Mrs Debra Burnham
Company Number 05309398
Registered Office 5 Crown Way
Yiewsley
West Drayton
Middlesex
UB7 8HZ
Accountants More Group (Accounting) Limited
1 Giltspur Street
Farringdon
London
EC1A 9DD
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Balance Sheet
Registered number: 05309398
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 470,131 1,217,451
470,131 1,217,451
CURRENT ASSETS
Stocks 5 112,873 80,383
Debtors 6 1,467,254 932,320
Cash at bank and in hand 1,801,537 482,763
3,381,664 1,495,466
Creditors: Amounts Falling Due Within One Year 7 (1,262,885 ) (1,699,022 )
NET CURRENT ASSETS (LIABILITIES) 2,118,779 (203,556 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,588,910 1,013,895
Creditors: Amounts Falling Due After More Than One Year 8 (175,424 ) (246,397 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (37,627 ) (33,453 )
NET ASSETS 2,375,859 734,045
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 2,375,759 733,945
SHAREHOLDERS' FUNDS 2,375,859 734,045
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Chris Burnham
Director
02/05/2025
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
The London Meat Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05309398 . The registered office is 5 Crown Way, Yiewsley, West Drayton, Middlesex, UB7 8HZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% on Cost
Leasehold 10% on Cost
Plant & Machinery 25% on Reducing Balance
Motor Vehicles 20% on Reducing Balance
Fixtures & Fittings 2% on Cost
Computer Equipment 25% on Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 10)
15 10
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 1,704,673 157,141 257,502 9,199
Additions - - - 41,124
Disposals (1,315,343 ) - - -
As at 31 March 2024 389,330 157,141 257,502 50,323
Depreciation
As at 1 April 2023 659,032 134,970 117,683 1,151
Provided during the period 43,491 7,542 27,964 1,742
Disposals (605,245 ) - - -
As at 31 March 2024 97,278 142,512 145,647 2,893
Net Book Value
As at 31 March 2024 292,052 14,629 111,855 47,430
As at 1 April 2023 1,045,641 22,171 139,819 8,048
Computer Equipment Total
£ £
Cost
As at 1 April 2023 9,131 2,137,646
Additions 3,661 44,785
Disposals - (1,315,343 )
As at 31 March 2024 12,792 867,088
Depreciation
As at 1 April 2023 7,359 920,195
Provided during the period 1,268 82,007
Disposals - (605,245 )
As at 31 March 2024 8,627 396,957
Net Book Value
As at 31 March 2024 4,165 470,131
As at 1 April 2023 1,772 1,217,451
5. Stocks
2024 2023
£ £
Materials 112,873 80,383
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,051,448 562,056
Other debtors 142,724 368,764
Loan 2,970 1,500
Rental deposit 75,000 -
Corporation tax recoverable assets 33,045 -
Directors' loan accounts 132,180 -
Amounts owed by other participating interests 29,887 -
1,467,254 932,320
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 587,780 728,816
Corporation tax 565,589 293,517
Other taxes and social security 13,199 32,061
Net wages 9,201 -
Other creditors 49,000 429,517
Other Loans (CBILS) < 1 year 38,116 10,164
Directors' loan accounts - 17,764
Amounts owed to subsidiaries - 187,183
1,262,885 1,699,022
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other non-current financial liabilities - 84,305
Other Loans (CBILS) 175,424 162,092
175,424 246,397
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
10. Related Party Transactions
As at the balance sheet date, the company owed £29,887 (2023: £0.00) from The Elms Estate Harlington LLP, a UK-registered company under common director control. This amount relates to an interest-free working capital loan, which is repayable on demand.
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