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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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Countrymans Butchery Limited |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018 |
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FOR |
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Countrymans Butchery Limited |
Countrymans Butchery Limited (Registered number: 08723843) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2018 |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 6 |
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Countrymans Butchery Limited |
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COMPANY INFORMATION |
for the year ended 31 March 2018 |
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Directors: |
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Registered office: |
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Business address: |
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Registered number: |
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Accountants: |
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129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Countrymans Butchery Limited (Registered number: 08723843) |
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BALANCE SHEET |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities | 7 |
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Net assets |
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Capital and reserves |
Called up share capital | 8 |
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Retained earnings |
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Shareholders' funds |
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Countrymans Butchery Limited (Registered number: 08723843) |
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BALANCE SHEET - continued |
31 March 2018 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Countrymans Butchery Limited (Registered number: 08723843) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2018 |
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1. | STATUTORY INFORMATION |
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Countrymans Butchery Limited is a private company, limited by shares, registered in |
England and Wales. The company's registered number, business address and registered |
office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents amounts receivable in respect of goods, net of any VAT and is |
recognised at the point of sale at the till. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its |
estimated useful life. |
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Equipment | 15% reducing balance |
Motor vehicles | 20% reducing balance |
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Stocks |
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in, |
first out basis. Net realisable value represents estimated selling price less costs required to |
sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable |
value is less than cost. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & |
Loss Account, except to the extent that it relates to items recognised in other comprehensive |
income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not |
reversed at the balance sheet date. |
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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. |
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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. |
Countrymans Butchery Limited (Registered number: 08723843) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2018 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), |
less any impairment losses for bad and doubtful debts. Loans and other financial assets are |
initially recognised at transaction price including any transaction costs and subsequently |
measured at amortised cost determined using the effective interest method, less any |
impairment losses for bad and doubtful debts. |
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Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). |
Loans and other financial liabilities are initially recognised at transaction price net of any |
transaction costs and subsequently measured at amortised cost determined using the |
effective interest method. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Motor |
Equipment | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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Depreciation |
At 1 April 2017 |
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Charge for year |
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At 31 March 2018 |
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Net book value |
At 31 March 2018 |
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At 31 March 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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Countrymans Butchery Limited (Registered number: 08723843) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 2,500 | 2,000 |
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Deferred |
tax |
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Balance at 1 April 2017 |
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Provided during year |
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Balance at 31 March 2018 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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9. | RELATED PARTY TRANSACTIONS |
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At the balance sheet date, the directors, E Sutton and A Sutton, were owed £8,712 by the |
company in respect of their directors' loan account balance. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is ultimately controlled by the directors. |