Farm House Cooked Meats Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 00993234 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

FARM HOUSE COOKED MEATS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Clingan

R Clingan

Miss J Clingan

SECRETARY:

Mrs G M Clingan

REGISTERED OFFICE:

61 Northgate Street

Gloucester

GL1 2AG

REGISTERED NUMBER:

00993234 (England and Wales)

ACCOUNTANTS:

Kingscott Dix (Cheltenham) Limited

Chartered Accountants

Malvern View Business Park

Stella Way

Bishops Cleeve

Cheltenham

Gloucestershire

GL52 7DQ

FIXED ASSETS

Tangible assets

4

616,815

665,151

CURRENT ASSETS

Stocks

5

29,183

25,320

Debtors

6

36,140

45,182

Cash at bank and in hand

108,941

148,962

174,264

219,464

CREDITORS

Amounts falling due within one year

7

(155,325

)

(145,265

)

NET CURRENT ASSETS

18,939

74,199

TOTAL ASSETS LESS CURRENT LIABILITIES

635,754

739,350

CREDITORS

Amounts falling due after more than one year

8

(380,442

)

(469,982

)

PROVISIONS FOR LIABILITIES

10

(35,137

)

(40,667

)

NET ASSETS

220,175

228,701

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

220,075

228,601

SHAREHOLDERS' FUNDS

220,175

228,701

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2023 and were signed on its behalf by:

J Clingan - Director

1.	STATUTORY INFORMATION

Farm House Cooked 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 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.

Significant judgements and estimates

The directors are of the opinion that there are no significant judgements or estimates used in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

Straight line over 50 years

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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 Profit and loss account, 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 34 (2022 - 31 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2022

599,955

1,034,461

18,002

851

1,653,269

Additions

-

2,276

-

-

2,276

At 31 January 2023

599,955

1,036,737

18,002

851

1,655,545

DEPRECIATION

At 1 February 2022

189,033

781,586

17,231

268

988,118

Charge for year

11,999

38,273

194

146

50,612

At 31 January 2023

201,032

819,859

17,425

414

1,038,730

NET BOOK VALUE

At 31 January 2023

398,923

216,878

577

437

616,815

At 31 January 2022

410,922

252,875

771

583

665,151

5.

STOCKS

2023

2022

£

£

Stocks

29,183

25,320

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,425

-

Other debtors

34,715

45,182

36,140

45,182

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

55,512

41,832

Trade creditors

16,193

14,399

Taxation and social security

74,717

53,607

Other creditors

8,903

35,427

155,325

145,265

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

239,022

307,262

Other creditors

141,420

162,720

380,442

469,982

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

60,700

70,000

Repayable by instalments

Bank loans more 5 yr by instal

19,198

82,962

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank Loan

294,534

349,094

Bank loans are secured by fixed and floating charges over the assets of the company.

10.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

35,137

40,667

Deferred

tax

£

Balance at 1 February 2022

40,667

Provided during year

(5,530

)

Balance at 31 January 2023

35,137

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the balance sheet date the company was owed £30,502 (2021- £40,627) by Ultimate Party Shop Limited, a company in which Mr J Clingan is a director and shareholder.

The controlling party is J Clingan.