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REGISTERED NUMBER: 01702260 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

MCKANNA MEATS LIMITED
MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014




Page

Company Information 1

Report of the Directors 2

Profit and Loss Account 3

Balance Sheet 4

Notes to the Financial Statements 5

MCKANNA MEATS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2014







DIRECTORS: G S Morley
I Maulkin
S A Ritchie





SECRETARY: G S Morley





REGISTERED OFFICE: 7 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 01702260 (England and Wales)





ACCOUNTANTS: NWN Blue Squared Ltd
Chartered Certified Accountants
7 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD
MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2014

The directors present their report with the financial statements of the company for the year ended 31 March 2014.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2013 to the date of this report.

G S Morley
I Maulkin
S A Ritchie

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating
to small companies.

ON BEHALF OF THE BOARD:





G S Morley - Director


23 December 2014
MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)

PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2014

2014 2013
Notes £    £    £    £   

TURNOVER 2,130,275 1,999,545

Cost of sales 1,679,630 1,570,857
GROSS PROFIT 450,645 428,688

Distribution costs 135,277 132,327
Administrative expenses 164,688 157,592
299,965 289,919
OPERATING PROFIT and
PROFIT ON ORDINARY ACTIVITIES BEFORE
TAXATION

2

150,680

138,769

Tax on profit on ordinary activities 3 23,389 28,451
PROFIT FOR THE FINANCIAL YEAR 127,291 110,318

Retained profit brought forward 199,284 148,966
326,575 259,284

Dividends 4 (45,000 ) (60,000 )
RETAINED PROFIT CARRIED FORWARD 281,575 199,284
MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)

BALANCE SHEET
31 MARCH 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 71,667 39,538

CURRENT ASSETS
Stocks 6 5,890 2,500
Debtors 7 108,746 119,915
Cash at bank and in hand 176,050 123,992
290,686 246,407
CREDITORS
Amounts falling due within one year 8 79,778 85,661
NET CURRENT ASSETS 210,908 160,746
TOTAL ASSETS LESS CURRENT LIABILITIES 282,575 200,284

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and loss account 281,575 199,284
SHAREHOLDERS' FUNDS 282,575 200,284

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).


The financial statements were approved by the Board of Directors on 23 December 2014 and were signed on its behalf
by:





G S Morley - Director

MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax.

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

Short leasehold - 10% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

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.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate.

2. OPERATING PROFIT

The operating profit is stated after charging:

2014 2013
£    £   
Depreciation - owned assets 9,096 5,817
Pension costs 6,000 6,000

Directors' remuneration and other benefits etc 63,000 63,000
MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2014

3. TAXATION

Analysis of the tax charge
The tax charge on the profit on ordinary activities for the year was as follows:
2014 2013
£    £   
Current tax:
UK corporation tax 23,389 28,451
Tax on profit on ordinary activities 23,389 28,451

4. DIVIDENDS
2014 2013
£    £   
Interim 45,000 60,000

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 April 2013 3,635 74,905 10,507
Additions - 41,225 -
At 31 March 2014 3,635 116,130 10,507
DEPRECIATION
At 1 April 2013 3,634 46,484 9,264
Charge for year - 6,965 124
At 31 March 2014 3,634 53,449 9,388
NET BOOK VALUE
At 31 March 2014 1 62,681 1,119
At 31 March 2013 1 28,421 1,243
MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2014

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2013 32,196 5,806 127,049
Additions - - 41,225
At 31 March 2014 32,196 5,806 168,274
DEPRECIATION
At 1 April 2013 22,962 5,167 87,511
Charge for year 1,847 160 9,096
At 31 March 2014 24,809 5,327 96,607
NET BOOK VALUE
At 31 March 2014 7,387 479 71,667
At 31 March 2013 9,234 639 39,538

6. STOCKS
2014 2013
£    £   
Stocks 5,890 2,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2014 2013
£    £   
Trade debtors 107,319 117,320
VAT 1,427 2,595
108,746 119,915

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2014 2013
£    £   
Trade creditors 50,412 49,246
Tax 23,389 28,451
Social security and other taxes 2,937 3,157
Other creditors 585 612
Accrued expenses 2,455 4,195
79,778 85,661
MCKANNA MEATS LIMITED (REGISTERED NUMBER: 01702260)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2014

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
1,000 Ordinary £1 1,000 1,000

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