Paterson Butchers Limited 31/03/2025 iXBRL

Company registration number: SC722851

Paterson Butchers Limited

Unaudited filleted financial statements

31 March 2025

Paterson Butchers Limited

Contents

Statement of financial position

Notes to the financial statements

Paterson Butchers Limited

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	4	15,058		18,229
		_______		_______
			15,058		18,229

Current assets
Stocks		2,750		4,000
Debtors	5	16,016		8,754
Cash at bank and in hand		6,014		19,872
		_______		_______
		24,780		32,626
Creditors: amounts falling due
within one year	6	( 26,832)		( 32,143)
		_______		_______
Net current (liabilities)/assets			( 2,052)		483
			_______		_______
Total assets less current liabilities			13,006		18,712

Creditors: amounts falling due
after more than one year	7		( 10,497)		( 14,696)
			_______		_______
Net assets			2,509		4,016
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			2,507		4,014
			_______		_______
Shareholders funds			2,509		4,016
			_______		_______

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.

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 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.

These financial statements were approved by the board of directors and authorised for issue on 29 December 2025 , and are signed on behalf of the board by:

Ewan G Paterson

Director

Company registration number: SC722851

Paterson Butchers Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 201 High Street, Auchterarder, Perthshire, PH3 1AF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.

Turnover

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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	-	25 %	reducing balance
Motor vehicles	-	25 %	reducing balance
User defined asset	-	33.3 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

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 stocks to their present location and condition.

Financial instruments

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand includes cash and short term highly liquid investments.

Creditors are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

4. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024	583	324	22,995	817	24,719
Additions	1,278	493	-	-	1,771
	_______	_______	_______	_______	_______
At 31 March 2025	1,861	817	22,995	817	26,490
	_______	_______	_______	_______	_______
Depreciation
At 1 April 2024	206	81	5,749	454	6,490
Charge for the year	394	121	4,427	-	4,942
	_______	_______	_______	_______	_______
At 31 March 2025	600	202	10,176	454	11,432
	_______	_______	_______	_______	_______
Carrying amount
At 31 March 2025	1,261	615	12,819	363	15,058
	_______	_______	_______	_______	_______
At 31 March 2024	377	243	17,246	363	18,229
	_______	_______	_______	_______	_______

5. Debtors

	2025	2024
	£	£
Trade debtors	2,194	1,797
Other debtors	13,822	6,957
	_______	_______
	16,016	8,754
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	9,146	15,226
Corporation tax	6,280	1,531
Other creditors	11,406	15,386
	_______	_______
	26,832	32,143
	_______	_______

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	10,497	14,696
	_______	_______

8. Directors advances, credits and guarantees

During the year the director made advances to the company of £0 (2024 - £2,000) and received repayments of £2304 (2024 - £0). The balance due to the director as at 31st March 2024 was £4,964 (2024 - £6,998). Loans from the director are interest free and repayable on demand.

9. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value
	2025	2024
	£	£
L & K (Auchterarder) Limited	87,702	82,543
	_______	_______

The company was supplied with services by L & K (Auchterarder) Limited