M.J. Smith (Butchers) Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04481089 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

M.J. Smith (Butchers) Ltd.

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr. M. J. Smith

Mrs. P. S. J. Smith

Mr. A. C. Smith

SECRETARY:

Mrs. P. S. J. Smith

REGISTERED OFFICE:

10 Bridge Street

Polesworth

Tamworth

Staffordshire

B78 1DT

REGISTERED NUMBER:

04481089 (England and Wales)

ACCOUNTANTS:

Screatons Ltd

Former Atherstone College

Ratcliffe Road

Atherstone

Warwickshire

CV9 1LF

BANKERS:

HSBC Bank plc

110 Long Street

Atherstone

Warwickshire

CV9 1AQ

The following reproduces the text of the report prepared for the directors 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 Directors 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 M.J. Smith (Butchers) Ltd. for the year ended 30 June 2019 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 Board of Directors of M.J. Smith (Butchers) Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of M.J. Smith (Butchers) Ltd. and state those matters that we have agreed to state to the Board of Directors of M.J. Smith (Butchers) Ltd., as a body, 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 M.J. Smith (Butchers) Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that M.J. Smith (Butchers) Ltd. 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 M.J. Smith (Butchers) Ltd.. You consider that M.J. Smith (Butchers) Ltd. 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 M.J. Smith (Butchers) Ltd.. 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.

Screatons Ltd

Former Atherstone College

Ratcliffe Road

Atherstone

Warwickshire

CV9 1LF

16 January 2020

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,632

509

8,632

509

CURRENT ASSETS

Stocks

6

500

500

Debtors

7

747

456

Cash at bank and in hand

50,690

64,079

51,937

65,035

CREDITORS

Amounts falling due within one year

8

39,543

28,761

NET CURRENT ASSETS

12,394

36,274

TOTAL ASSETS LESS CURRENT LIABILITIES

21,026

36,783

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

21,024

36,781

SHAREHOLDERS' FUNDS

21,026

36,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 16 January 2020 and were signed on its behalf by:

Mrs. P. S. J. Smith - Director

Mr. M. J. Smith - Director

1.	STATUTORY INFORMATION

M.J. Smith (Butchers) Ltd. 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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 in 2002, is being amortised evenly over its estimated useful life of ten 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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

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.

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.

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 4 (2018 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

and 30 June 2019

21,500

AMORTISATION

At 1 July 2018

and 30 June 2019

21,500

NET BOOK VALUE

At 30 June 2019

-

At 30 June 2018

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 July 2018

1,352

30,222

13,383

44,957

Additions

-

-

11,000

11,000

Disposals

-

-

(13,383

)

(13,383

)

At 30 June 2019

1,352

30,222

11,000

42,574

DEPRECIATION

At 1 July 2018

924

30,141

13,383

44,448

Charge for year

107

20

2,750

2,877

Eliminated on disposal

-

-

(13,383

)

(13,383

)

At 30 June 2019

1,031

30,161

2,750

33,942

NET BOOK VALUE

At 30 June 2019

321

61

8,250

8,632

At 30 June 2018

428

81

-

509

6.

STOCKS

30.6.19

30.6.18

£

£

Stocks

500

500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

VAT

747

456

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

3,001

3,001

Tax

-

1,813

Social security and other taxes

268

268

Directors' current accounts

35,224

22,629

Accrued expenses

1,050

1,050

39,543

28,761

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.19

30.6.18

value:

£

£

2

Ordinary Shares

£1

2

2

10.

RESERVES

Retained

earnings

£

At 1 July 2018

36,781

Deficit for the year

(9,757

)

Dividends

(6,000

)

At 30 June 2019

21,024

11.	RELATED PARTY DISCLOSURES

Mr. M. J. Smith and Mrs. P. S. J. Smith are both shareholders and directors of the company and are husband and

wife. Mr. A. C. Smith is also a director of the company and is the son of Mr. M. J. Smith and Mrs. P. S. J. Smith.