Frank Ogden (Butchers) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00369365 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

FRANK OGDEN (BUTCHERS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A F Ogden

Mr F S Ogden

Ms A M T Gaffney

A R Ogden

Mrs V P Bishop

W E Ogden

T R Ogden

REGISTERED OFFICE:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

REGISTERED NUMBER:

00369365 (England and Wales)

ACCOUNTANTS:

Parkers

Cornelius House

178-180 Church Road

Hove

East Sussex

BN3 2DJ

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

2,648,792

2,464,805

2,648,792

2,464,805

CURRENT ASSETS

Debtors

6

32,370

32,355

Cash at bank

504,034

473,466

536,404

505,821

CREDITORS

Amounts falling due within one year

7

80,259

73,877

NET CURRENT ASSETS

456,145

431,944

TOTAL ASSETS LESS CURRENT LIABILITIES

3,104,937

2,896,749

PROVISIONS FOR LIABILITIES

292,676

257,718

NET ASSETS

2,812,261

2,639,031

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Fair value reserve

8

2,013,149

1,864,120

Retained earnings

794,112

769,911

SHAREHOLDERS' FUNDS

2,812,261

2,639,031

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11th November 2023 and were signed on its behalf by:

R A F Ogden - Director

1.	STATUTORY INFORMATION

Frank Ogden (Butchers) 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.

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 as modified by the revaluation of certain assets.

Significant judgements and estimates

The directors have valued the investment properties on an open market basis. No other significant judgements have had to be made by the directors in preparing these financial statements.

Turnover

Turnover represents rents receivable from the letting of investment properties within the UK.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Land and buildings

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is 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

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

Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st April 2022

and 31st March 2023

4,346

DEPRECIATION

At 1st April 2022

and 31st March 2023

4,346

NET BOOK VALUE

At 31st March 2023

-

At 31st March 2022

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2022

2,464,805

Revaluations

183,987

At 31st March 2023

2,648,792

NET BOOK VALUE

At 31st March 2023

2,648,792

At 31st March 2022

2,464,805

Fair value at 31st March 2023 is represented by:

£

Valuation in 2023

2,305,825

Cost

342,967

2,648,792

If investment properties had not been revalued they would have been included at the following historical cost:

2023

2022

£

£

Cost

342,967

342,967

Investment properties were valued on an open market basis on 31st March 2023 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

29,995

28,465

Other debtors

2,375

3,890

32,370

32,355

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

15,395

16,181

Other creditors

64,864

57,696

80,259

73,877

8.

RESERVES

Fair

value

reserve

£

At 1st April 2022

1,864,120

Revaluations in year

183,987

Deferred tax

(34,958

)

At 31st March 2023

2,013,149

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors and members of their family were paid dividends totalling £40,000 (2022 : £38,000)

10.	ULTIMATE CONTROLLING PARTY

The company was under the control of the Ogden family throughout the current and previous year.