Kelly's Butchery Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Kelly's Butchery Ltd

Company Information

Director

D J Kelly

Registered Office

1 High Street Chew Magna Bristol BS40 8PR

Registered Number

16204403

Accountants

Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Kelly's Butchery Ltd

(Registration number: 16204403)
Balance Sheet as at 30 June 2026

	Note	2026 £
Fixed assets
Intangible assets	4	79,517
Tangible assets	5	74,037
		153,554
Current assets
Stocks		36,016
Debtors	6	162,194
Cash at bank and in hand		64,750
		262,960
Creditors: Amounts falling due within one year	7	(269,340)
Net current liabilities		(6,380)
Total assets less current liabilities		147,174
Creditors: Amounts falling due after more than one year	7	(39,410)
Provisions for liabilities		(18,316)
Net assets		89,448
Capital and reserves
Called up share capital		11
Share premium reserve		21,999
Retained earnings		67,438
Shareholders' funds		89,448

Kelly's Butchery Ltd

(Registration number: 16204403)
Balance Sheet as at 30 June 2026

For the financial period ending 30 June 2026 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 accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 October 2026
 

......................................... D J Kelly Director

Kelly's Butchery Ltd

Notes to the Unaudited Financial Statements for the Period from 23 January 2025 to 30 June 2026

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 High Street
Chew Magna
Bristol
BS40 8PR

These financial statements were authorised for issue by the director on 23 October 2026.

2	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). There have been no material departures from the Financial Reporting Standard 102 1A.

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. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Turnover

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 to the extent that it relates to items recognised in other comprehensive income or directly in equity.

The current 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.

Kelly's Butchery Ltd

Notes to the Unaudited Financial Statements for the Period from 23 January 2025 to 30 June 2026

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 provided at the following annual rates in order to write off each asset over its estimated useful life:

Asset class	Depreciation method and rate
Plant and machinery	20% on cost
Motor vehicles	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% on cost

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.

Kelly's Butchery Ltd

Notes to the Unaudited Financial Statements for the Period from 23 January 2025 to 30 June 2026

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, which is equivalent to net realisable value.

The cost of finished goods and work in progress comprises all costs of purchase, 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.

Hire purchase and leasing commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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 creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

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.

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

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

Kelly's Butchery Ltd

Notes to the Unaudited Financial Statements for the Period from 23 January 2025 to 30 June 2026

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 6.

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
Additions acquired separately	91,750	91,750
At 30 June 2026	91,750	91,750
Amortisation
Amortisation charge	12,233	12,233
At 30 June 2026	12,233	12,233
Carrying amount
At 30 June 2026	79,517	79,517

Kelly's Butchery Ltd

Notes to the Unaudited Financial Statements for the Period from 23 January 2025 to 30 June 2026

5	Tangible assets

	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
Additions	16,703	68,855	85,558
At 30 June 2026	16,703	68,855	85,558
Depreciation
Charge for the period	4,198	7,323	11,521
At 30 June 2026	4,198	7,323	11,521
Carrying amount
At 30 June 2026	12,505	61,532	74,037

6

Debtors

	2026 £
Trade debtors	132,779
Prepayments	8,093
Other debtors	21,322
	162,194

Kelly's Butchery Ltd

Notes to the Unaudited Financial Statements for the Period from 23 January 2025 to 30 June 2026

7

Creditors

Due within one year	Note	2026 £
Hire purchase and finance lease liabilities		19,520
Trade creditors		183,496
Amounts owed to related parties	9	16,021
Taxation and social security		22,132
Accruals and deferred income		5,735
Other creditors		22,436
		269,340

 

	Note	2026 £
Due after one year
Hire purchase and finance lease liabilities		39,410

Included in hire purchase and finance lease liabilities is a balance of £58,930 which is secured against the assets that the liabilities relate to.

8	Financial commitments, guarantees and contingencies

Pension commitments

The entity operates a defined contributions pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £1,804 were payable to the fund at the reporting date.

Off balance sheet commitments

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £133,334.

Kelly's Butchery Ltd

Notes to the Unaudited Financial Statements for the Period from 23 January 2025 to 30 June 2026

9	Related party transactions

Loans from related parties

2026	Key management £	Total £
Advanced	87,268	87,268
Repaid	(71,247)	(71,247)
At end of period	16,021	16,021

Terms of loans from related parties

Loans from key management are interest free and repayable on demand.