D & M Meats Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08651470 (England and Wales)

D & M MEATS LIMITED

Unaudited Financial Statements for the Year Ended 31 August 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTOR:

M A Jacob

REGISTERED OFFICE:

1st Floor, Lincoln Lodge

Tettenhall Road,

Wolverhampton

West Midlands

WV1 4SA

REGISTERED NUMBER:

08651470 (England and Wales)

ACCOUNTANTS:

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

FIXED ASSETS

Intangible assets

4

4,000

8,000

Tangible assets

5

155,646

111,233

159,646

119,233

CURRENT ASSETS

Stocks

120,000

82,000

Debtors

6

24,922

123,314

Cash at bank and in hand

450

48,076

145,372

253,390

CREDITORS

Amounts falling due within one year

7

140,266

253,372

NET CURRENT ASSETS

5,106

18

TOTAL ASSETS LESS CURRENT LIABILITIES

164,752

119,251

CREDITORS

Amounts falling due after more than one year

8

(34,745

)

(40,190

)

PROVISIONS FOR LIABILITIES

(18,000

)

(9,800

)

NET ASSETS

112,007

69,261

CAPITAL AND RESERVES

Called up share capital

9

2

2

Non distributable reserve

10

60,000

-

Retained earnings

52,005

69,259

SHAREHOLDERS' FUNDS

112,007

69,261

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 23 May 2019 and were signed by:

M A Jacob - Director

1.	STATUTORY INFORMATION

D & M Meats Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over

its estimated life of 5 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in

profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with

changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

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

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2017 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

and 31 August 2018

20,000

AMORTISATION

At 1 September 2017

12,000

Charge for year

4,000

At 31 August 2018

16,000

NET BOOK VALUE

At 31 August 2018

4,000

At 31 August 2017

8,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST OR VALUATION

At 1 September 2017

235,584

Additions

5,500

Revaluations

60,000

At 31 August 2018

301,084

DEPRECIATION

At 1 September 2017

124,351

Charge for year

21,087

At 31 August 2018

145,438

NET BOOK VALUE

At 31 August 2018

155,646

At 31 August 2017

111,233

Cost or valuation at 31 August 2018 is represented by:

Plant and

machinery

etc

£

Valuation in 2018

60,000

Cost

241,084

301,084

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 September 2017

and 31 August 2018

46,349

DEPRECIATION

At 1 September 2017

11,587

Charge for year

869

At 31 August 2018

12,456

NET BOOK VALUE

At 31 August 2018

33,893

At 31 August 2017

34,762

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Trade debtors

-

4,437

Other debtors

24,922

118,877

24,922

123,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Bank loans and overdrafts

9,399

3,854

Hire purchase contracts

5,466

5,486

Trade creditors

80,254

191,047

Taxation and social security

10,341

24,675

Other creditors

34,806

28,310

140,266

253,372

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.18

31.8.17

£

£

Hire purchase contracts

34,745

40,190

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.18

31.8.17

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Non

distributable

reserve

£

Revaluation

60,000

At 31 August 2018

60,000

11.	ULTIMATE CONTROLLING PARTY

The company is under the control of the director.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of D & M Meats Limited for the year ended 31 August 2018 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of D & M Meats Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of D & M Meats Limited and state those matters that we have agreed to state to the director of D & M Meats Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than D & M Meats Limited and its director for our work or for this report.

It is your duty to ensure that D & M Meats Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of D & M Meats Limited. You consider that D & M Meats Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of D & M Meats Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lancaster Haskins Limited

Granville House

2 Tettenhall Road

Wolverhampton

West Midlands

WV1 4SB

24 May 2019