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Unaudited Financial Statements for the Year Ended 31 March 2018 |
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LSA Meats 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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LSA Meats Limited |
LSA Meats Limited (Registered number: 07086156) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2018 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountant's Report | 11 |
LSA Meats 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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REGISTERED NUMBER: |
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ACCOUNTANT: |
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Chartered Accountants |
63 Bawtry Road |
Bramley |
Rotherham |
South Yorkshire |
S66 2TN |
LSA Meats Limited (Registered number: 07086156) |
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Balance Sheet |
31 March 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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Investments | 6 |
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CURRENT ASSETS |
Stocks | 7 |
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Debtors | 8 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 9 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
10 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 13 | ( |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 14 |
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Retained earnings | 15 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
LSA Meats Limited (Registered number: 07086156) |
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Balance Sheet - continued |
31 March 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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LSA Meats Limited (Registered number: 07086156) |
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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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LSA Meats Limited is a
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registered number 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
Goodwill represents an acquisition in 2013 for £2 and this is not to be amortised. |
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Goodwill was purchased in 2015. This is being amortised over the remaining period of its measurable useful |
economic life of 5 years. |
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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. |
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Tangible fixed assets |
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Short leasehold | - |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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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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LSA Meats Limited (Registered number: 07086156) |
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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 |
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. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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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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Pension costs and other post-retirement benefits |
The company makes employer contributions in accordance with auto enrollment legislation. |
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Estimated accounts |
These accounts have been filed on an estimated basis, finalised accounts will be filed in due course. |
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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. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2017 |
and 31 March 2018 |
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AMORTISATION |
At 1 April 2017 |
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Amortisation 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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LSA Meats Limited (Registered number: 07086156) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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5. | TANGIBLE FIXED ASSETS |
Short | Plant and | Motor | Computer |
leasehold | machinery | vehicles | equipment | 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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Depreciation on plant and machinery has been written back of £17,143, being over depreciated assets in earlier |
years. |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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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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LSA Meats Limited (Registered number: 07086156) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 April 2017 |
and 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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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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£ | £ |
Aggregate capital and reserves | ( |
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Loss for the period | ( |
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7. | STOCKS |
2018 | 2017 |
£ | £ |
Stocks |
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8. | DEBTORS |
2018 | 2017 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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VAT |
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Prepayments |
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Amounts falling due after more than one year: |
Amounts owed by group undertakings |
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Aggregate amounts |
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LSA Meats Limited (Registered number: 07086156) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts (see note 11) |
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Hire purchase contracts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Net Wages |
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Other creditors | 148,945 | 312,038 |
Directors' current accounts | 153 | 153 |
Accrued expenses |
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10. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans (see note 11) |
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Hire purchase contracts |
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11. | LOANS |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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LSA Meats Limited (Registered number: 07086156) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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12. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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Hire purchase contracts | 26,062 | 7,415 |
Commercial invoice finance | 148,945 | 312,038 |
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Barclays Bank PLC |
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Date Charge Created: 22/02/17 |
Date Charge Registered: 22/02/17 |
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Amount Secured: |
Details: CONTAINS FIXED CHARGE.CONTAINS FLOATING CHARGE.FLOATING CHARGE COVERS |
ALL THE PROPERTY OR UNDERTAKING OF THE COMPANY. |
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13. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 11,741 | 10,433 |
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Deferred |
tax |
£ |
Balance at 1 April 2017 |
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Accelerated capital allowances | 1,308 |
Balance at 31 March 2018 |
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14. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary "A" | £1 | 112 | 100 |
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Ordinary "B" | £1 | - | 1 |
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Ordinary "C" | £1 | - | 11 |
112 | 112 |
LSA Meats Limited (Registered number: 07086156) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2018 |
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15. | RESERVES |
Retained |
earnings |
£ |
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At 1 April 2017 |
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Deficit for the year | ( |
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Dividends | ( |
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At 31 March 2018 | ( |
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16. | RELATED PARTY DISCLOSURES |
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LSA Meats Retail Ltd |
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This is a company which is wholly owned subsidiary of LSA Meats Limited, during the year with sales of meat |
were:£76,585, (2017: £88,554) and management fees charged to LSA Meats Retail Ltd totalling £13,142, (2017: |
£26,284). |
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Monies were owed to LSA Meats Limited :£Nil (2017:£183,567). These balances include monies owed for |
goods and services supplied. |
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LSA Meats Retail Ltd has closed down, the amount outstanding of £164,644 has been written off as an |
exceptional item in the accounts. |
Chartered Accountant's Report to the Board of Directors |
on the Unaudited Financial Statements of |
LSA Meats Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial |
statements of LSA Meats Limited for the year ended 31 March 2018 which comprise the Income Statement, Balance |
Sheet and the related notes from the company's accounting records and from information and explanations you have |
given me. |
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As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of LSA Meats Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of LSA Meats Limited and state those matters that I have agreed to state to the Board of Directors of LSA Meats Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than LSA Meats Limited and its Board of Directors, as a body, for my work or for this report. |
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It is your duty to ensure that LSA Meats Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of LSA Meats Limited. You consider that LSA Meats Limited is exempt from the statutory audit requirement for the year. |
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I have not been instructed to carry out an audit or a review of the financial statements of LSA Meats Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
63 Bawtry Road |
Bramley |
Rotherham |
South Yorkshire |
S66 2TN |
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