Derek Jones Butchers Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04851802 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Derek Jones Butchers Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D W Jones

Miss H F Jones

REGISTERED OFFICE:

SRB Associates (Leicestershire) Limited

Pera Business Park

Nottingham Road

Melton Mowbray

Leicestershire

LE13 0PB

REGISTERED NUMBER:

04851802 (England and Wales)

ACCOUNTANTS:

SRB Associates (Leicestershire) Limited

Pera Business Park

Nottingham Road

Melton Mowbray

Leicestershire

LE13 0PB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

36,600

45,828

36,600

45,828

CURRENT ASSETS

Stocks

6

11,997

12,756

Debtors

7

3,883

5,425

Prepayments and accrued income

573

640

Cash at bank and in hand

84,421

90,155

100,874

108,976

CREDITORS

Amounts falling due within one year

8

7,313

15,707

NET CURRENT ASSETS

93,561

93,269

TOTAL ASSETS LESS CURRENT LIABILITIES

130,161

139,097

PROVISIONS FOR LIABILITIES

9

6,954

8,526

NET ASSETS

123,207

130,571

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

123,107

130,471

SHAREHOLDERS' FUNDS

123,207

130,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 and authorised for issue on 20 April 2022 and were signed on its behalf by:

Mr D W Jones - Director

1.	STATUTORY INFORMATION

Derek Jones 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 represents net sales of goods, excluding value added tax

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of five 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

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets, other than investment properties and freehold land, at rates

calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful

life, as follows:

Motor Vehicles - 20% Reducing Balance Basis

Plant & Equipment - 25% Reducing Balance Basis

Office Equipment - 20% Reducing Balance Basis

Furniture & Fixtures - 20% Reducing Balance Basis

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 7 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2020

and 31 August 2021

10,000

AMORTISATION

At 1 September 2020

and 31 August 2021

10,000

NET BOOK VALUE

At 31 August 2021

-

At 31 August 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 September 2020

73,705

53,693

10,754

138,152

Additions

1,085

174

-

1,259

At 31 August 2021

74,790

53,867

10,754

139,411

DEPRECIATION

At 1 September 2020

53,608

29,041

9,675

92,324

Charge for year

5,306

4,965

216

10,487

At 31 August 2021

58,914

34,006

9,891

102,811

NET BOOK VALUE

At 31 August 2021

15,876

19,861

863

36,600

At 31 August 2020

20,097

24,652

1,079

45,828

6.

STOCKS

31.8.21

31.8.20

£

£

Stocks

11,997

12,756

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade debtors

3,883

5,425

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.21

31.8.20

£

£

Trade creditors

1,336

3,251

Taxation and social security

4,316

10,927

Other creditors

1,661

1,529

7,313

15,707

9.	PROVISIONS FOR LIABILITIES

31.8.21

31.8.20

£

£

Deferred tax

6,954

8,526

Deferred

tax

£

Balance at 1 September 2020

8,526

Credit to Income Statement during year

(1,572

)

Balance at 31 August 2021

6,954

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.21

31.8.20

value:

£

£

100

Ordinary £1

1

100

100

11.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £866 (2020: £659) due to Mr D W Jones and Miss H F Jones. The

amounts due to the directors are interest free and repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Miss H Jones, a director of the company who owns 75% share of the issued share

capital.