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Registered number: 14588672
The Farmers Butcher Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Infinity Financial Solutions Limited
29-31 High Street
Fordingbridge
Hampshire
SP6 1AS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 14588672
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 80,613 90,773
Tangible Assets 5 88,829 85,340
169,442 176,113
CURRENT ASSETS
Stocks 6 34,041 30,000
Debtors 7 18,642 34,679
Cash at bank and in hand 1,486 19,754
54,169 84,433
Creditors: Amounts Falling Due Within One Year 8 (116,358 ) (140,143 )
NET CURRENT ASSETS (LIABILITIES) (62,189 ) (55,710 )
TOTAL ASSETS LESS CURRENT LIABILITIES 107,253 120,403
Creditors: Amounts Falling Due After More Than One Year 9 (79,523 ) (96,702 )
NET ASSETS 27,730 23,701
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 27,630 23,601
SHAREHOLDERS' FUNDS 27,730 23,701
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For the year ending 31 March 2025 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
Mrs Sarah Alexander
Director
22/07/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Farmers Butcher Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14588672 . The registered office is The Farmers Butcher Swallowfield Farm, Bramshaw, Lyndhurst, Hampshire, SO43 7JJ.
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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.
2.4. 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 10% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
Fixtures & Fittings 20% Straight Line
Computer Equipment 20% Straight Line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. 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.
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2.7. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 9)
10 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 100,799
As at 31 March 2025 100,799
Amortisation
As at 1 April 2024 10,026
Provided during the period 10,160
As at 31 March 2025 20,186
Net Book Value
As at 31 March 2025 80,613
As at 1 April 2024 90,773
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 39,627 41,631 7,325 2,245
Additions - 7,897 12,428 155
As at 31 March 2025 39,627 49,528 19,753 2,400
...CONTINUED
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Depreciation
As at 1 April 2024 190 3,801 1,465 32
Provided during the period 4,024 9,145 3,530 491
As at 31 March 2025 4,214 12,946 4,995 523
Net Book Value
As at 31 March 2025 35,413 36,582 14,758 1,877
As at 1 April 2024 39,437 37,830 5,860 2,213
Computer Equipment Total
£ £
Cost
As at 1 April 2024 - 90,828
Additions 199 20,679
As at 31 March 2025 199 111,507
Depreciation
As at 1 April 2024 - 5,488
Provided during the period - 17,190
As at 31 March 2025 - 22,678
Net Book Value
As at 31 March 2025 199 88,829
As at 1 April 2024 - 85,340
6. Stocks
2025 2024
£ £
Stock 34,041 30,000
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 13,250 27,017
Other debtors 5,392 7,662
18,642 34,679
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 5,571 6,306
Trade creditors 80,452 85,533
Bank loans and overdrafts 23,070 22,570
Other creditors 9,958 28,650
Taxation and social security (2,693 ) (2,916 )
116,358 140,143
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9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 9,632 3,756
Bank loans 69,891 92,946
79,523 96,702
10. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,571 6,306
Later than one year and not later than five years 9,632 3,756
15,203 10,062
15,203 10,062
11. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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