Registration number:
Etherson Meats Limited
for the Year Ended 30 September 2025
Etherson Meats Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Etherson Meats Limited
Company Information
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Directors |
Mr Brendan Etherson Mr S Etherson |
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Registered office |
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Accountants |
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Etherson Meats Limited
(Registration number: NI016878)
Balance Sheet as at 30 September 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Other financial assets |
996,062 |
914,307 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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Etherson Meats Limited
(Registration number: NI016878)
Balance Sheet as at 30 September 2025
For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Director
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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2 |
Accounting policies (continued) |
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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2 |
Accounting policies (continued) |
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Asset class |
Depreciation method and rate |
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Freehold Buildings |
2% straight line |
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Plant & machinery |
20% straight line |
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Motor vehicles |
20% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Accounting policies (continued) |
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Classification
Recognition and measurement
Impairment
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and best estimate and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet date when there is an 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.
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 October 2024 |
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Additions |
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- |
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Disposals |
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At 30 September 2025 |
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Depreciation |
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At 1 October 2024 |
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Charge for the year |
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- |
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Eliminated on disposal |
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- |
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- |
( |
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At 30 September 2025 |
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Carrying amount |
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At 30 September 2025 |
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- |
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At 30 September 2024 |
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Other financial assets (current and non-current) |
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Financial assets at fair value through profit and loss |
Total |
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Current financial assets |
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Cost or valuation |
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At 1 October 2024 |
914,307 |
914,307 |
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Fair value adjustments |
81,755 |
81,755 |
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At 30 September 2025 |
996,062 |
996,062 |
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Impairment |
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Carrying amount |
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At 30 September 2025 |
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996,062 |
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Stocks |
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2025 |
2024 |
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Raw materials and consumables |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
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Note |
2025 |
2024 |
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Due within one year |
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Trade creditors |
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Corporation tax liability |
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Taxation and social security |
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Other creditors |
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Loans from directors |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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5,000 |
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5,000 |
Etherson Meats Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
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2025 |
2024 |
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Remuneration |
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Contributions paid to money purchase schemes |
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175,117 |
213,563 |
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Financial instruments |
Categorisation of financial instruments
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2025 |
2024 |
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Financial assets measured at fair value through profit or loss |
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Financial assets measured at fair value
Investment bond
The fair value has been determined from the quoted market value of the underlying securities.
The fair value is £996,062 (2024 - £914,307) and the change in value included in profit or loss is £914,307 (2024 - £113,722).