Company No: 13856103 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	5,635		7,514
		5,635		7,514
Current assets
Stocks		4,356		2,242
Debtors	4	5,763		2,162
Cash at bank and in hand		4,605		13,460
		14,724		17,864
Creditors: amounts falling due within one year	5	( 15,818)		( 15,050)
Net current (liabilities)/assets		(1,094)		2,814
Total assets less current liabilities		4,541		10,328
Net assets		4,541		10,328
Capital and reserves
Called-up share capital	6	100		100
Profit and loss account		4,441		10,228
Total shareholders' funds		4,541		10,328

For the financial 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.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Preston's Butchers Limited (registered number: 13856103) were approved and authorised for issue by the Director on 15 December 2025. They were signed on its behalf by:

Mr M R Gribble Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Preston's Butchers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is 53 Ridgeway, Plympton, Plymouth PL7 2AW.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery	25 % reducing balance
Office equipment	25 % reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		3

3. Tangible assets

	Plant and machinery		Office equipment		Total
	£		£		£
Cost
At 01 April 2024	12,000		864		12,864
At 31 March 2025	12,000		864		12,864
Accumulated depreciation
At 01 April 2024	5,250		100		5,350
Charge for the financial year	1,688		191		1,879
At 31 March 2025	6,938		291		7,229
Net book value
At 31 March 2025	5,062		573		5,635
At 31 March 2024	6,750		764		7,514

4. Debtors

	2025		2024
	£		£
Prepayments	277		268
VAT recoverable	903		1,559
Other debtors	4,583		335
	5,763		2,162

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	1,910		1,694
Accruals and deferred income	5,231		2,041
Corporation tax	8,458		9,932
Other taxation and social security	0		1,026
Other creditors	219		357
	15,818		15,050

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 A Ordinary shares of £ 1.00 each	50		50
50 B Ordinary shares of £ 1.00 each	50		50
	100		100

Ordinary A and Ordinary B shareholders are entitled to one vote per each share held in any circumstances, are entitled to dividend payments and any other distribution and are entitled to participate in a distribution arising from a winding up of the company..