Registered number
09862448
Derya Meat Ltd
Filleted Accounts
30 November 2024
Derya Meat Ltd
Registered number: 09862448
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 175,105 201,304
Current assets
Stocks 292,661 205,337
Debtors 4 156,776 277,774
Cash at bank and in hand 149,429 11,128
598,866 494,239
Creditors: amounts falling due within one year 5 (147,607) (90,937)
Net current assets 451,259 403,302
Total assets less current liabilities 626,364 604,606
Creditors: amounts falling due after more than one year 6 (19,958) (38,997)
Net assets 606,406 565,609
Capital and reserves
Called up share capital 100 100
Profit and loss account 606,306 565,509
Shareholders' funds 606,406 565,609
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.
Emrah Ozkes
Director
Approved by the board on 8 May 2025
Derya Meat Ltd
Notes to the Accounts
for the year ended 30 November 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.
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:
Leasehold land and buildings Over 15 years
Plant and machinery 15% on written down value
Motor Vehicles 25% on written down value
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 23 21
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 December 2023 73,500 235,164 144,594 453,258
Additions - 13,320 - 13,320
At 30 November 2024 73,500 248,484 144,594 466,578
Depreciation
At 1 December 2023 39,200 143,862 68,892 251,954
Charge for the year 4,900 15,694 18,925 39,519
At 30 November 2024 44,100 159,556 87,817 291,473
Net book value
At 30 November 2024 29,400 88,928 56,777 175,105
At 30 November 2023 34,300 91,302 75,702 201,304
4 Debtors 2024 2023
£ £
Trade debtors 151,776 266,823
Other debtors 5,000 10,951
156,776 277,774
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 9,772 10,505
Trade creditors 84,613 28,274
Corporation tax 69,458 69,905
Other taxes and social security costs (16,236) (17,748)
Other creditors - 1
147,607 90,937
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,887 25,887
Obligations under finance lease and hire purchase contracts 4,071 13,110
19,958 38,997
7 Other information
Derya Meat Ltd is a private company limited by shares and incorporated in England. Its registered office is:
190 Billet Road
London
E17 5DX
8 Directors' loans and interest
As at the balance sheet date the amount outstanding to the director was £Nil
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