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Registered number: 01946450
B.J. Meats (Smithfield) Limited
Financial Statements
For The Year Ended 31 August 2024
BBK Partnership
Chartered Accountants & Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01946450
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 59,915 60,333
59,915 60,333
CURRENT ASSETS
Stocks 5 219,565 210,413
Debtors 6 265,432 268,616
Cash at bank and in hand 248 260,848
485,245 739,877
Creditors: Amounts Falling Due Within One Year 7 (513,953 ) (799,569 )
NET CURRENT ASSETS (LIABILITIES) (28,708 ) (59,692 )
TOTAL ASSETS LESS CURRENT LIABILITIES 31,207 641
NET ASSETS 31,207 641
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 31,107 541
SHAREHOLDERS' FUNDS 31,207 641
Page 1
Page 2
For the year ending 31 August 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 M Oatley
Director
28/05/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
B.J. Meats (Smithfield) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01946450 . The registered office is 1 Beauchamp Court, Victors Way, Hertfordshire, EN5 5TZ.
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 and from the rendering of services. 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:
Leasehold 0
Plant & Machinery 15%
Fixtures & Fittings 15%
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 5)
4 5
Page 3
Page 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 57,545 30,143 14,126 101,814
As at 31 August 2024 57,545 30,143 14,126 101,814
Depreciation
As at 1 September 2023 - 27,701 13,780 41,481
Provided during the period - 366 52 418
As at 31 August 2024 - 28,067 13,832 41,899
Net Book Value
As at 31 August 2024 57,545 2,076 294 59,915
As at 1 September 2023 57,545 2,442 346 60,333
5. Stocks
2024 2023
£ £
Stock 219,565 210,413
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 257,609 244,866
Other debtors 7,823 23,750
265,432 268,616
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 456,716 781,939
Bank loans and overdrafts 32,968 -
Other creditors 17,014 12,042
Taxation and social security 7,255 5,588
513,953 799,569
Page 4
Page 5
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5