Derek Jones Butchers Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04851802 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2023

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

25,777

31,288

25,777

31,288

CURRENT ASSETS

Stocks

6

11,457

12,323

Debtors

7

4,362

7,632

Cash at bank and in hand

105,900

92,916

121,719

112,871

CREDITORS

Amounts falling due within one year

8

17,085

12,492

NET CURRENT ASSETS

104,634

100,379

TOTAL ASSETS LESS CURRENT LIABILITIES

130,411

131,667

PROVISIONS FOR LIABILITIES

9

4,898

5,945

NET ASSETS

125,513

125,722

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

125,413

125,622

SHAREHOLDERS' FUNDS

125,513

125,722

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 17 May 2024 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:

Plant & Equipment - 25% & 33% Reducing Balance Basis

Fixtures & Fixtures - 20% Reducing Balance Basis

Motor Vehicles - 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.

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.

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 6 (2022 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2022

and 31 August 2023

10,000

AMORTISATION

At 1 September 2022

and 31 August 2023

10,000

NET BOOK VALUE

At 31 August 2023

-

At 31 August 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant &

and

Motor

equipment

fittings

vehicles

Totals

£

£

£

£

COST

At 1 September 2022

78,526

53,867

10,754

143,147

Additions

1,976

-

-

1,976

At 31 August 2023

80,502

53,867

10,754

145,123

DEPRECIATION

At 1 September 2022

63,817

37,979

10,063

111,859

Charge for year

4,171

3,177

139

7,487

At 31 August 2023

67,988

41,156

10,202

119,346

NET BOOK VALUE

At 31 August 2023

12,514

12,711

552

25,777

At 31 August 2022

14,709

15,888

691

31,288

6.

STOCKS

31.8.23

31.8.22

£

£

Stocks

11,457

12,323

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade debtors

-

4,613

Other debtors

4,362

3,019

4,362

7,632

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Trade creditors

6,305

2,398

Taxation and social security

7,502

7,495

Other creditors

3,278

2,599

17,085

12,492

9.	PROVISIONS FOR LIABILITIES

31.8.23

31.8.22

£

£

Deferred tax

4,898

5,945

Deferred

tax

£

Balance at 1 September 2022

5,945

Credit to Income Statement during year

(1,047

)

Balance at 31 August 2023

4,898

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

£

£

100

Ordinary £1

1

100

100

11.	RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £1,676 (2022: £943) 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.