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COMPANY REGISTRATION NUMBER: SC714815
John Stewart Quality Butcher Ltd
Filleted Unaudited Financial Statements
30 November 2024
John Stewart Quality Butcher Ltd
Financial Statements
Year ended 30 November 2024
Contents
Page
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of John Stewart Quality Butcher Ltd.
1
Statement of financial position
2
Notes to the financial statements
4
John Stewart Quality Butcher Ltd
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of John Stewart Quality Butcher Ltd.
Year ended 30 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John Stewart Quality Butcher Ltd for the year ended 30 November 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of John Stewart Quality Butcher Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of John Stewart Quality Butcher Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Stewart Quality Butcher Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that John Stewart Quality Butcher Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Stewart Quality Butcher Ltd. You consider that John Stewart Quality Butcher Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of John Stewart Quality Butcher Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
RITSONS Chartered Accountants
103 HIGH STREET FORRES MORAY IV36 1AA
3 June 2025
John Stewart Quality Butcher Ltd
Statement of Financial Position
30 November 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
142,318
103,370
Current assets
Stocks
15,162
13,586
Debtors
6
57,798
76,274
Cash at bank and in hand
123,769
123,399
---------
---------
196,729
213,259
Creditors: amounts falling due within one year
7
224,448
229,194
---------
---------
Net current liabilities
27,719
15,935
---------
---------
Total assets less current liabilities
114,599
87,435
Provisions
Taxation including deferred tax
23,958
14,221
---------
--------
Net assets
90,641
73,214
---------
--------
John Stewart Quality Butcher Ltd
Statement of Financial Position (continued)
30 November 2024
2024
2023
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
90,639
73,212
--------
--------
Shareholders funds
90,641
73,214
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 May 2025 , and are signed on behalf of the board by:
Mr A Grant
Mr M MacLeman
Director
Director
Company registration number: SC714815
John Stewart Quality Butcher Ltd
Notes to the Financial Statements
Year ended 30 November 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Ritsons, 103 High Street, Forres, Moray, IV36 1AA, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
20% reducing balance
Motor vehicles
-
20% reducing balance
Equipment
-
33% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 10 ).
5. Tangible assets
Land and buildings
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Dec 2023
46,485
39,549
40,893
983
850
128,760
Additions
57,726
57,726
--------
--------
--------
----
----
---------
At 30 Nov 2024
46,485
97,275
40,893
983
850
186,486
--------
--------
--------
----
----
---------
Depreciation
At 1 Dec 2023
9,776
14,694
354
566
25,390
Charge for the year
13,127
5,240
126
285
18,778
--------
--------
--------
----
----
---------
At 30 Nov 2024
22,903
19,934
480
851
44,168
--------
--------
--------
----
----
---------
Carrying amount
At 30 Nov 2024
46,485
74,372
20,959
503
( 1)
142,318
--------
--------
--------
----
----
---------
At 30 Nov 2023
46,485
29,773
26,199
629
284
103,370
--------
--------
--------
----
----
---------
6. Debtors
2024
2023
£
£
Trade debtors
50,254
51,432
Other debtors
7,544
24,842
--------
--------
57,798
76,274
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,000
Trade creditors
59,451
65,592
Corporation tax
14,456
Social security and other taxes
3,343
3,492
Other creditors
145,654
145,654
---------
---------
224,448
229,194
---------
---------