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Registered Number: 07025755
England and Wales

 

 

 


Unaudited Financial Statements


for the year ended 30 September 2024

for

COCKBURN BUTCHERS LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 171,172    132,052 
171,172    132,052 
Current assets      
Stocks 5 27,400    23,400 
Debtors 6 203,772    140,467 
Cash at bank and in hand 65,611    105,988 
296,783    269,855 
Creditors: amount falling due within one year 7 (139,203)   (121,688)
Net current assets 157,580    148,167 
 
Total assets less current liabilities 328,752    280,219 
Creditors: amount falling due after more than one year 8 (62,291)   (34,252)
Provisions for liabilities 9 (34,873)   (25,417)
Net assets 231,588    220,550 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 231,586    220,548 
Shareholders' funds 231,588    220,550 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 20 May 2025 and were signed on its behalf by:


-------------------------------
Mr J G Coburn
Director
1
General Information
Cockburn Butchers Limited is a private company, limited by shares, registered in England and Wales, registration number 07025755, registration address 12 Market Place, Bedale, North Yorkshire, DL8 1EQ.
1.

Accounting policies

Significant accounting policies
These financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Operating lease rentals
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred taxation
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets over their expected useful lives on the following basis:
Leasehold improvements 10% SL
Plant and machinery etc 10% SL / 25% RB
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell on a FIFO basis. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 20 (2023 : 16).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2023 297,113    297,113 
Additions  
Disposals  
At 30 September 2024 297,113    297,113 
Amortisation
At 01 October 2023 297,113    297,113 
Charge for year  
On disposals  
At 30 September 2024 297,113    297,113 
Net book values
At 30 September 2024  
At 30 September 2023  


4.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 October 2023 38,362    193,310    231,672 
Additions 4,779    83,969    88,748 
Disposals   (40,809)   (40,809)
At 30 September 2024 43,141    236,470    279,611 
Depreciation
At 01 October 2023 10,229    89,391    99,620 
Charge for year 4,315    23,195    27,510 
On disposals   (18,691)   (18,691)
At 30 September 2024 14,544    93,895    108,439 
Net book values
Closing balance as at 30 September 2024 28,597    142,575    171,172 
Opening balance as at 01 October 2023 28,133    103,919    132,052 


5.

Stocks

2024
£
  2023
£
Stock 27,400    23,400 
27,400    23,400 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade debtors 11,347    4,569 
Other Debtors 192,425    135,898 
203,772    140,467 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade creditors 77,298    64,566 
Bank Loans & Overdrafts 8,000    8,276 
Taxation and Social Security 40,925    42,196 
Other Creditors 12,980    6,650 
139,203    121,688 
Other creditors include amounts owing to hire purchase agreements of £7,620 (2023 - £4,004) which are secured over the asset to which they relate.

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 6,013    14,484 
Other Creditors 56,278    19,768 
62,291    34,252 
Other creditors include amounts owing to hire purchase agreements of £56,278 (2023 - £19,768) which are secured over the asset to which they relate.

9.

Provisions for liabilities

2024
£
  2023
£
Deferred tax 34,873    25,417 
34,873    25,417 

10.

Operating lease commitments

Lessee 
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £13,145 (2023 - £31,881).
11.

Directors' transactions

The following advances to directors are unsecured and repayable on demand:

Description   Loan to Director
£
  Loan to Director
£
Opening balance 68,094  59,172 
Amounts advanced 103,458  87,198 
Interest charged at 2.25% 2,186  1,748 
Amounts repaid (77,912) (75,068)
Closing balance 95,826  73,050 

2