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REGISTERED NUMBER: 11059072 (England and Wales)


CDH Matur Holdings Limited

Group Strategic Report,

Report of the Director and

Consolidated Financial Statements

for the Year Ended 31 March 2023






CDH Matur Holdings Limited (Registered number: 11059072)






Contents of the Consolidated Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Group Strategic Report 2

Report of the Director 7

Report of the Independent Auditors 9

Consolidated Income Statement 13

Consolidated Other Comprehensive Income 14

Consolidated Statement of Financial Position 15

Company Statement of Financial Position 17

Consolidated Statement of Changes in Equity 18

Company Statement of Changes in Equity 19

Consolidated Statement of Cash Flows 20

Notes to the Consolidated Statement of Cash Flows 21

Notes to the Consolidated Financial Statements 23


CDH Matur Holdings Limited

Company Information
for the year ended 31 March 2023







DIRECTOR: Mr A Matur





REGISTERED OFFICE: 239-241 Kennington Lane
London
SE11 5QU





REGISTERED NUMBER: 11059072 (England and Wales)





AUDITORS: Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

CDH Matur Holdings Limited (Registered number: 11059072)

Group Strategic Report
for the year ended 31 March 2023

The director presents his strategic report of the company and the group for the year ended 31 March 2023.

CDH Matur Holdings Limited was incorporated on 10 November 2017 and became the parent company of all the companies on 1 April 2018 under a group restructuring.

The group is made up of a wholesaler of fruits, vegetables and groceries and an investment company. The group's performance in the period under review has been consistent with the director's expectations for the year. The group has shown steady growth and the director expects that this trend will continue in the foreseeable future.

REVIEW OF BUSINESS
Turnover of the companies in the group have increased significantly compared to that of last year; the increase in turnover is due to the continuous growth of the business over the last few years. Profitability over the period has been in line with expectations with a positive correlation between turnover and the net profit. The companies in the group sell mainly groceries, fruits and vegetables and the general economic cycle of the country has not impacted much on the industry in which they operate. The main threat to the companies in the group are their competitors. The group's main strategy is to provide a complete service to customers thereby increasing their customer base and the resulting boosting impact on the turnover of the company. Each company aims at specific markets (and customers) to ensure that a clear strategy to win and maintain those customers is implemented and sustained.The investment company in the group is progressing with its investment in an overseas company which is yet to start yielding the expected results. This is expected to significantly improve the performance of the group once operations of these investments are fully materialised.

The director recognises the importance of the staff employed and would like to thank them for all their hard work and efforts throughout the year.

The results for the year and the financial position of the group are shown in the annexed financial statement.

PRINCIPAL RISKS AND UNCERTAINTIES
The companies in the group's ability to get an insurance cover is key to their ability to acquire inputs on consignment. Most of the purchases of the group are on consignment and the consignors require an insurance cover to be in place to continue supplying on consignment. The level of cover depends on the financial health of the individual company. This is managed by keeping a close watch on monthly results and dealing with poor performing lines on a timely basis. Competitors are also a risk to the companies, however, this is managed by ensuring that prices are competitive, products are of good quality and also that the company provides a complete service in a bid to maintain existing customers.
Furthermore, the companies depend on the reliability of their suppliers to meet their orders at short notice to prevent stock outs leading to the loss of customers. To manage this risk, for each product, the company maintains more than one supplier to fulfil the required orders to ensure that the failure of one supplier will not affect their ability to meet anticipated demand and customer satisfaction for that matter. Also new product lines are constantly being introduced to ensure that the needs of customers are met and non performing lines are removed.


CDH Matur Holdings Limited (Registered number: 11059072)

Group Strategic Report
for the year ended 31 March 2023

SECTION 172(1) STATEMENT
General confirmation of Directors’ duties
The director has a clear framework for determining the matters within their remit and have approved Terms of Reference for the matters delegated to his assistants. Certain financial and strategic thresholds have been determined to identify matters requiring director's consideration and approval.
When making decisions, the director ensures that he acts in the way he considers, in good faith, what would most likely promote the company’s success for the benefit of its members as a whole, and in doing so have considered (among other matters):

S172(1) (A) “The likely consequences of any decision in the long term”

The director understands the business and the evolving environment in which they operate, including the challenges of navigating through the Brexit transition. Based on the company's purpose to supply quality fruits, vegetables and other groceries by sourcing the best products, the strategy set by the director is intended to strengthen the group's position to enable it play a leading role in the supply of fruits and vegetables in the UK whilst maintaining quality and promoting social responsibility.
The rising standard of living of a growing UK population is likely to continue to drive demand for fresh fruits and vegetables for years to come. At the same time, changes in customers' shopping approach (online shopping and the need to deliver products to customers) means increased competition as a direct result of increasing customer choice. The long-term success of the business is dependent on its ability to adapt with those changes and distinguishing itself against the growing competition by way of maintaining quality and customer satisfaction. The director also realise the importance of their business activities as a contributor to the health of society as they sell fresh produce.

S172(1) (B) “The interests of the company’s employees”

The director recognises that the company's employees are fundamental and core to the business and necessary for the delivery of the director's strategic ambitions. The success of the business depends on attracting, retaining and motivating employees. From ensuring that the business remains a responsible employer in all aspects, from pay and benefits to health and safety in the workplace environment, the director factors the implications of decisions on employees and the wider workforce, where relevant and feasible. More information on this can be found within the company's policy for employees.

S172(1) (C) “The need to foster the company’s business relationships with suppliers, customers and others”

Delivering the director's strategy requires strong mutually beneficial relationships with suppliers, customers, local authorities and governments. The company seeks the promotion and application of certain general principles in such relationships. The ability to promote these principles effectively is an important factor in the decision to enter into or remain in such relationships and this, alongside other standards, are described in the various policy statements of the company in the Strategic Report. The group's Business Principles are reviewed by the director periodically. The director also reviews and approves the group's approach to suppliers which is set out in the group's Supplier Policy. The business continuously assesses the priorities related to customers and those with whom they do business; the companies in the group engages with these customers based on the outcome of those assessments.

S172(1) (D) “The impact of the company’s operations on the community and the environment”

This aspect is inherent in the director's strategic ambitions, most notably on their ambitions to thrive in the food wholesale and retail sector. As such, the director constantly monitors their effect on the community and environment; an important goal for the director is to be a benefit to both the local community and the environment.


CDH Matur Holdings Limited (Registered number: 11059072)

Group Strategic Report
for the year ended 31 March 2023

S172(1) (E) “The desirability of the company maintaining a reputation for high standards of business conduct”

The group aims to meet the world’s growing need for more healthy food in ways which are economically, environmentally and socially responsible. The director periodically reviews and approves clear frameworks to ensure that high standards are maintained both within and outside the businesses and the business relationships they maintain. This, complemented by the ways the director is informed and monitors compliance with relevant governance standards, helps ensure decisions made mean that companies in the group act in ways that perpetually promote high standards of business conduct.

S172(1) (F) “The need to act fairly as between members of the company”

After weighing up all relevant factors, the director considers which course of action best enables delivery of their strategies through the long-term by taking into consideration the impact on stakeholders. In doing so, the director attempts to balance the company's interests and other stakeholders' interests and this can sometimes mean that certain stakeholder interests may not be fully aligned. However, the director attempts to be as fair as possible to all in this regard.

Culture
The director recognises that he has an important role when assessing and ensuring that the desired culture is embedded in all the values, attitudes and behaviours he demonstrates, including in all the business activities and stakeholder relationships. The director has established honesty, integrity and respect for people as the group's core values. The General Business Principles, Code of Conduct, and Code of Ethics help everyone act in line with these values and comply with relevant laws and regulations. The group's Commitment and Policy on Health, Safety, Security, Environment & Social Performance applies across all the companies and is designed to help protect people and the environment. The director strives to maintain a diverse and inclusive culture.

Stakeholder engagement (including employee engagement)
The director also recognises the important role the companies in the group have to play in society and are deeply committed to public collaboration and stakeholder engagement; this commitment is at the heart of the group's strategic ambitions. The director believes that they will only succeed by working with customers, governments and business partners. Working together is critical, particularly at a time when society, including businesses, governments and consumers, face complex and challenging issues.
The companies continue to build on their long track record of working with others, such as customers and suppliers; the director believes that working together, sharing knowledge and experience with others offer greater insights into their own business.

ENGAGEMENT WITH EMPLOYEES
The company is committed to achieving a working environment which provides equality of opportunity and freedom from unlawful discrimination on the basis of gender, sexual orientation, marital or civil partner status, gender reassignment, race, religion or belief, colour, nationality, ethnic or national origin, disability or age, pregnancy or maternity, trade union membership or the fact that they are part-time workers. The company's Equality and Diversity policy aims to remove unfair and discriminatory practices within the company and to encourage full contribution from its diverse community. The company is committed to actively opposing all forms of discrimination. The company also aims to provide a service that does not discriminate against its clients in the means by which they can access the services supplied by the company. The company believes that the directors, employees and customers are entitled to be treated with respect and dignity.The company's employment policy is to provide equal opportunity to all current and prospective employees without any discrimination. They endeavour to provide a work environment in which all individuals are treated with respect and dignity.


CDH Matur Holdings Limited (Registered number: 11059072)

Group Strategic Report
for the year ended 31 March 2023

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
Our relationship with our customers is key to the ongoing success of the business. The needs and expectation of customers are an integral part of our business strategy. We plan to ensure that the group delivers products of a very high standard and complies with all food safety regulations. We encourage long term relationship with our suppliers through collaboration and development of high quality products and supply chains.

KEY PERFORMANCE INDICATORS
The main performance indicators of the group are the turnover and the profit margins. Generally, products are sold at an agreed margin thereby leading to a positive correlation between the turnover and profit. However, due to the perishable nature of the fruits and vegetables, they may, at times, be sold at a reduced price. All other costs apart from cost of sales are fairly fixed. The director monitors all costs on a monthly basis to ensure that poor performers are picked up on time and dealt with accordingly. Also, it is ensured that overheads are kept within their limits as their effect on profit is critical.

The key performance indicators are as follows:

2023 2022
£    £   

Turnover 205,993,328 169,027,082
Gross profit 24,778,989 19,210,480
Net profit before tax &
exceptional income

6,685,567

6,486,635


The director believes that other variables of performance indicators are marginal and not the best indicators of the overall performance, development and position of the company.

GROUPS POLICY ON PAYMENT OF CREDITORS
The policy of the company is to agree terms of payment prior to commencing trade with a supplier and to abide by those terms on a timely submission of invoices.

SOCIAL, ENVIRONMENT AND ETHICAL MATTERS
The director believes that by operating in an ethical and social aware manner they will help preserve the environment; that being an integral part of efficient and profitable business management. The director recognises that success in these areas depends on the involvement and commitment of everyone in the organisation.


CDH Matur Holdings Limited (Registered number: 11059072)

Group Strategic Report
for the year ended 31 March 2023

FUTURE DEVELOPMENT
The director expects the growth in sales to continue in the future as the company explores new products and customers.

BREXIT IMPACT ASSESSMENT
The director does not expect Britain's departure from the European Union to have any significant impact on the operations of the company as they also have suppliers from the UK and countries outside the European Union.

There are no material uncertainties that may cast any doubt about the company's ability to continue trading in the foreseeable future.

ON BEHALF OF THE BOARD:





Mr A Matur - Director


28 November 2023

CDH Matur Holdings Limited (Registered number: 11059072)

Report of the Director
for the year ended 31 March 2023

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of wholesale of fruit,vegetables and other groceries and property management.

DIVIDENDS
An interim dividend of £5,650 per share was paid on 6 April 2022. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 March 2023 will be £ 565,000 .

DIRECTOR
Mr A Matur held office during the whole of the period from 1 April 2022 to the date of this report.

CHARITY DONATIONS AND EXPENDITURE
Donations made during the financial year were non-political.

STREAMLINED ENERGY AND CARBON REPORTING
Where the company is a parent company that prepares consolidated accounts, information must be presented on a consolidated basis; except that it need only to include information from subsidiaries that are both large and consume more than 40,000 KWH of energy annually.We report in line with the SECR regulations which are provided below:

2023 2022
Total Scope 1 emissions: Consumption of gas and transport fuel (tCO2e) 452,096 630,197
Total Scope 2 emissions: Consumption of electricity (tCO2e) 420,145 582,440
Total energy use (kWh equivalent of gas, transport fuel and electricity) 3,867,503 5,272,529
Carbon intensity ratio (tCO2e/£'000 revenue) 4.21 7.17

The footprint has been calculated in accordance with the government guidance on streamline reporting using factors found on the government website.

Measures taken to improve energy efficiency
In a bid to reduce the company's carbon footprint, the company actively monitors its energy consumption. It proactively ensures that all newly acquired assets are energy efficient and has replaced lights and equipments with LED and more efficient models. Management have also made employees aware of their strategy to maximise energy efficiency in the company to ensure they are all working towards the same unified goal.


CDH Matur Holdings Limited (Registered number: 11059072)

Report of the Director
for the year ended 31 March 2023

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Alton & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr A Matur - Director


28 November 2023

Report of the Independent Auditors to the Members of
CDH Matur Holdings Limited

Opinion
We have audited the financial statements of CDH Matur Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
CDH Matur Holdings Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page eight, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
CDH Matur Holdings Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework that are applicable to the company and determined that the most significant are the food standards regulation, money laundering and anti bribery regulations. We understand how the company is complying with those regulations by making enquiries of management and key personel; we also reviewed correspondence files. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements using our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards) and from inspection of the company's regulatory and legal correspondence. We discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated those identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit.

Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Through these procedures, we did not become aware of actual or suspected non-compliance.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
CDH Matur Holdings Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Altan Kemal FCA FCCA (Senior Statutory Auditor)
for and on behalf of Alton & Co
Chartered Accountants
& Statutory Auditors
239-241 Kennington Lane
London
SE11 5QU

28 November 2023

CDH Matur Holdings Limited (Registered number: 11059072)

Consolidated
Income Statement
for the year ended 31 March 2023

2023 2022
Notes £    £   

REVENUE 205,993,328 169,027,082

Cost of sales 181,214,339 149,816,602
GROSS PROFIT 24,778,989 19,210,480

Administrative expenses 18,261,236 13,585,048
6,517,753 5,625,432

Other operating income 619,670 1,000,223
Gain/loss on revaluation of investments 39,170 -
GROUP OPERATING PROFIT 4 7,176,593 6,625,655

Share of operating loss in
Associates (10,758 ) (110,729 )

Interest receivable and similar income 7,074 42,591
7,172,909 6,557,517

Interest payable and similar expenses 6 487,342 70,882
PROFIT BEFORE TAXATION 6,685,567 6,486,635

Tax on profit 7 1,569,274 1,293,588
PROFIT FOR THE FINANCIAL YEAR 5,116,293 5,193,047
Profit attributable to:
Owners of the parent 4,374,390 4,338,891
Non-controlling interests 741,903 854,156
5,116,293 5,193,047

CDH Matur Holdings Limited (Registered number: 11059072)

Consolidated
Other Comprehensive Income
for the year ended 31 March 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 5,116,293 5,193,047


OTHER COMPREHENSIVE OTHER COMPREHENSIVE INCOME
Listed investments valuation gain (39,170 ) -
Transfer to fair value reserve 29,378 -
Deferred tax provision 9,792 -
Income tax relating to components of other
comprehensive other comprehensive income

-

-
OTHER COMPREHENSIVE FOR THE
YEAR, NET OF INCOME TAX

-

-
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

5,116,293

5,193,047

Total comprehensive income attributable to:
Owners of the parent 4,396,261 4,476,391
Non-controlling interests 720,032 716,656
5,116,293 5,193,047

CDH Matur Holdings Limited (Registered number: 11059072)

Consolidated Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 2,848,379 609,408
Property, plant and equipment 11 6,793,516 6,023,911
Investments 12
Interest in associate 51,726 62,484
Other investments 1,103,186 -
Investment property 13 22,482,371 13,015,816
33,279,178 19,711,619

CURRENT ASSETS
Inventories 14 15,936,869 10,354,271
Debtors 15 14,810,611 12,270,017
Cash at bank and in hand 10,832,804 7,805,270
41,580,284 30,429,558
CREDITORS
Amounts falling due within one year 16 29,814,235 20,240,762
NET CURRENT ASSETS 11,766,049 10,188,796
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,045,227

29,900,415

CREDITORS
Amounts falling due after more than one
year

17

(12,235,686

)

(1,958,627

)

PROVISIONS FOR LIABILITIES 21 (871,293 ) (538,017 )
NET ASSETS 31,938,248 27,403,771

CDH Matur Holdings Limited (Registered number: 11059072)

Consolidated Statement of Financial Position - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 22 100 100
Fair value reserve 23 1,202,413 1,173,035
Retained earnings 23 26,210,956 22,430,944
SHAREHOLDERS' FUNDS 27,413,469 23,604,079

NON-CONTROLLING INTERESTS 24 4,524,779 3,799,692
TOTAL EQUITY 31,938,248 27,403,771


The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





Mr A Matur - Director


CDH Matur Holdings Limited (Registered number: 11059072)

Company Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 10 - -
Property, plant and equipment 11 - -
Investments 12 115,170 115,170
Investment property 13 - -
115,170 115,170

CURRENT ASSETS
Debtors 15 208,051 213,274
Cash in hand 100 100
208,151 213,374
CREDITORS
Amounts falling due within one year 16 32,161 24,502
NET CURRENT ASSETS 175,990 188,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

291,160

304,042

CAPITAL AND RESERVES
Called up share capital 22 100 100
Retained earnings 23 291,060 303,942
SHAREHOLDERS' FUNDS 291,160 304,042

Company's profit for the financial year 552,118 601,881

The financial statements were approved by the director and authorised for issue on 28 November 2023 and were signed by:





Mr A Matur - Director


CDH Matur Holdings Limited (Registered number: 11059072)

Consolidated Statement of Changes in Equity
for the year ended 31 March 2023

Called up Fair
share Retained value
capital earnings reserve
£    £    £   
Balance at 1 April 2021 100 18,672,053 1,173,035

Changes in equity
Dividends - (580,000 ) -
Total comprehensive income - 4,338,891 -
Balance at 31 March 2022 100 22,430,944 1,173,035

Changes in equity
Dividends - (565,000 ) -
Total comprehensive income - 4,345,012 29,378
Balance at 31 March 2023 100 26,210,956 1,202,413
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1 April 2021 19,845,188 3,083,036 22,928,224

Changes in equity
Dividends (580,000 ) - (580,000 )
Total comprehensive income 4,338,891 716,656 5,055,547
Balance at 31 March 2022 23,604,079 3,799,692 27,403,771

Changes in equity
Dividends (565,000 ) - (565,000 )
Total comprehensive income 4,374,390 720,032 5,094,422
Balance at 31 March 2023 27,413,469 4,519,724 31,933,193

CDH Matur Holdings Limited (Registered number: 11059072)

Company Statement of Changes in Equity
for the year ended 31 March 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 April 2021 100 282,061 282,161

Changes in equity
Dividends - (580,000 ) (580,000 )
Total comprehensive income - 601,881 601,881
Balance at 31 March 2022 100 303,942 304,042

Changes in equity
Dividends - (565,000 ) (565,000 )
Total comprehensive income - 552,118 552,118
Balance at 31 March 2023 100 291,060 291,160

CDH Matur Holdings Limited (Registered number: 11059072)

Consolidated Statement of Cash Flows
for the year ended 31 March 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 7,580,759 4,772,937
Interest paid (485,951 ) (69,451 )
Interest element of hire purchase payments
paid

(1,391

)

(1,431

)
Tax paid (1,692,006 ) (1,072,396 )
Net cash from operating activities 5,401,411 3,629,659

Cash flows from investing activities
Purchase of intangible fixed assets (2,486,772 ) (52,179 )
Purchase of tangible fixed assets (1,837,470 ) (1,507,544 )
Purchase of fixed asset investments (1,064,016 ) (75,001 )
Purchase of investment property (9,966,555 ) -
Sale of tangible fixed assets (132,702 ) 9,426
Sale of fixed asset investments - 43,000
Sale of investment property 500,000 -
Interest received 7,074 42,591
Net cash from investing activities (14,980,441 ) (1,539,707 )

Cash flows from financing activities
New loans in year 11,950,000 -
Loan repayments in year (663,331 ) (180,000 )
Capital repayments in year (12,942 ) (13,142 )
Amount withdrawn by directors 1,800,217 93,147
Inter company balance with associate - (344,080 )
Non controlling interest dividend paid (132,500 ) (137,500 )
Equity dividends paid (565,000 ) (580,000 )
Net cash from financing activities 12,376,444 (1,161,575 )

Increase in cash and cash equivalents 2,797,414 928,377
Cash and cash equivalents at beginning of
year

2

7,801,887

6,873,510

Cash and cash equivalents at end of year 2 10,599,301 7,801,887

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Statement of Cash Flows
for the year ended 31 March 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 6,685,567 6,486,635
Depreciation charges 1,326,424 780,688
Loss/(profit) on disposal of fixed assets 132,702 (22,694 )
Gain on revaluation of fixed assets (39,170 ) -
Interest in associate's profit or loss - 110,754
Finance costs 487,342 70,882
Finance income (7,074 ) (42,591 )
8,585,791 7,383,674
Increase in inventories (5,582,598 ) (3,746,022 )
Increase in trade and other debtors (4,026,585 ) (1,581,414 )
Increase in trade and other creditors 8,604,151 2,716,699
Cash generated from operations 7,580,759 4,772,937

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 10,832,804 7,805,270
Bank overdrafts (233,503 ) (3,383 )
10,599,301 7,801,887
Year ended 31 March 2022
31/3/22 1/4/21
£    £   
Cash and cash equivalents 7,805,270 6,873,510
Bank overdrafts (3,383 ) -
7,801,887 6,873,510


CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Statement of Cash Flows
for the year ended 31 March 2023

3. ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

At 1/4/22 Cash flow At 31/3/23
£    £    £   
Net cash
Cash at bank and in hand 7,805,270 3,027,534 10,832,804
Bank overdrafts (3,383 ) (230,120 ) (233,503 )
7,801,887 2,797,414 10,599,301
Debt
Finance leases (51,569 ) 12,942 (38,627 )
Debts falling due within 1 year (180,000 ) (996,667 ) (1,176,667 )
Debts falling due after 1 year (1,920,000 ) (10,290,001 ) (12,210,001 )
(2,151,569 ) (11,273,726 ) (13,425,295 )
Total 5,650,318 (8,476,312 ) (2,825,994 )

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

CDH Matur Holdings 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated accounts are prepared in accordance with the Group's accounting principles and include the accounts of the Parent Company and all Group companies.
The group accounts for all business combinations using the Merger accounting method. During the consolidation all intra group transactions, assets and liabilities have been eliminated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. In determining the carrying amounts of certain assets and liabilities, the Group makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The Group’s estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. Further information about key assumptions concerning the future, and other key sources of estimation uncertainty, are set out in the notes.

Fair value measurements are estimates of the amounts for which assets or liabilities could be transferred at the measurement date, based on the assumption that such transfers take place between participants in principal markets and, where applicable, taking highest and best use into account. Where available, fair value measurements are derived from prices quoted in active markets for identical assets or liabilities. In the absence of such information, other observable inputs are used to estimate fair value. Inputs derived from external sources are corroborated or otherwise verified, as appropriate. In the absence of publicly available information, fair value is determined using estimation techniques that take into account market perspectives relevant to the asset or liability, in as far as they can reasonably be ascertained, based on predominantly unobservable inputs

The items in the financial statements where significant judgements have been made include the following:-
Investment properties: Their valuations are based on their estimated market values.
Listed investment: Their valuations are based on the stock market values at the balance sheet date.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the goods are physically delivered to or collected by the customer and in the case of rental income it is recognised at the end of the period when the company obtains the right to the consideration.Turnover is derived from ordinary activities of the company.

Grants recognition
The accrual model is used in recognition of grants where grants are matched against the expenditure it is compensating for.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of ten years.

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - straight line over the life of the lease
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
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.

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

Cost of stocks is valued using the first in first out stock valuation method. Net realisable value is the estimated selling price less cost to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Goods on consignment
Goods acquired on consignment are not recognised as the company's purchases until the title of the goods changes to the company when the goods are sold.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 8,821,290 6,422,949
Social security costs 778,509 544,920
Other pension costs 98,493 125,586
9,698,292 7,093,455

The average number of employees during the year was as follows:
2023 2022

Directors 1 1
Finance and administration 52 37
Operations 356 265
409 303

2023 2022
£    £   
Director's remuneration 402,757 297,191

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

3. EMPLOYEES AND DIRECTORS - continued

Information regarding the highest paid director is as follows:
2023 2022
£    £   
Emoluments etc 162,188 155,571

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Hire of plant and machinery 223,899 182,689
Other operating leases 1,301,477 1,103,421
Depreciation - owned assets 1,067,865 780,682
Loss/(profit) on disposal of fixed assets 132,702 (22,694 )
Goodwill amortisation 247,801 -
Patents and licences amortisation - 4
Auditors' remuneration 72,140 66,340
Auditors' remuneration for non audit work 131,887 119,363
Foreign exchange differences 26,843 (483,312 )
Formation costs - 490

5. EXCEPTIONAL ITEMS
2023 2022
£    £   
Translation exchange losses - (385,423 )

Exceptional item is made up of fair value adjustment on investment properties and foreign exchange translation movements.

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 38 -
Bank loan interest 409,002 54,609
Interest and penalties (30,339 ) 14,842
Loan 107,250 -
Hire purchase 1,391 1,431
487,342 70,882

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 1,120,315 1,145,628

Deferred tax 448,959 147,960
Tax on profit 1,569,274 1,293,588

UK corporation tax has been charged at 19 % (2022 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 6,685,567 6,486,635
Profit multiplied by the standard rate of corporation tax in the UK of 19 %
(2022 - 19 %)

1,270,258

1,232,461

Effects of:
Expenses not deductible for tax purposes 16,143 16,107
Income not taxable for tax purposes 19,901 (80,153 )
Capital allowances in excess of depreciation - (34,265 )
Depreciation in excess of capital allowances 265,132 -
Tax on associates results (2,044 ) 21,038
Unutilised Tax losses (116 ) -
Untaxed profit from foreign subsidiary - 138,400
translation
Total tax charge 1,569,274 1,293,588

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

7. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Listed investments valuation gain (39,170 ) 9,792 (29,378 )
Transfer to fair value reserve 29,378 - 29,378
Deferred tax provision 9,792 (9,792 ) -
- - -

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2023 2022
£    £   
Ordinary shares of £1 each
Interim 565,000 580,000

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

10. INTANGIBLE FIXED ASSETS

Group
Patents
and Development
Goodwill licences costs Totals
£    £    £    £   
COST
At 1 April 2022 233,170 26 609,408 842,604
Additions 2,478,012 - 8,760 2,486,772
At 31 March 2023 2,711,182 26 618,168 3,329,376
AMORTISATION
At 1 April 2022 233,170 26 - 233,196
Amortisation for year 247,801 - - 247,801
At 31 March 2023 480,971 26 - 480,997
NET BOOK VALUE
At 31 March 2023 2,230,211 - 618,168 2,848,379
At 31 March 2022 - - 609,408 609,408

11. PROPERTY, PLANT AND EQUIPMENT

Group
Improvements
Freehold Short to Plant and
property leasehold property machinery
£    £    £    £   
COST
At 1 April 2022 4,198,384 313,646 124,964 884,267
Additions - 11,636 - 450,718
At 31 March 2023 4,198,384 325,282 124,964 1,334,985
DEPRECIATION
At 1 April 2022 528,993 109,945 62,481 561,764
Charge for year 58,777 21,175 12,496 190,180
At 31 March 2023 587,770 131,120 74,977 751,944
NET BOOK VALUE
At 31 March 2023 3,610,614 194,162 49,987 583,041
At 31 March 2022 3,669,391 203,701 62,483 322,503

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

11. PROPERTY, PLANT AND EQUIPMENT - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 3,760,985 1,227,129 227,990 10,737,365
Additions 1,139,135 212,109 23,872 1,837,470
At 31 March 2023 4,900,120 1,439,238 251,862 12,574,835
DEPRECIATION
At 1 April 2022 2,825,853 498,130 126,288 4,713,454
Charge for year 518,567 235,276 31,394 1,067,865
At 31 March 2023 3,344,420 733,406 157,682 5,781,319
NET BOOK VALUE
At 31 March 2023 1,555,700 705,832 94,180 6,793,516
At 31 March 2022 935,132 728,999 101,702 6,023,911

Included in cost of land and buildings is freehold land of £1,259,515 (2022 - £1,259,515) which is not depreciated.

12. FIXED ASSET INVESTMENTS

Group
Interest
in Listed
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 62,484 - 62,484
Additions - 1,064,016 1,064,016
Share of profit/(loss) (10,758 ) - (10,758 )
Revaluations - 39,170 39,170
At 31 March 2023 51,726 1,103,186 1,154,912
NET BOOK VALUE
At 31 March 2023 51,726 1,103,186 1,154,912
At 31 March 2022 62,484 - 62,484

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

12. FIXED ASSET INVESTMENTS - continued

Group

Cost or valuation at 31 March 2023 is represented by:

Interest
in Listed
associate investments Totals
£    £    £   
Valuation in 2023 (10,758 ) 39,170 28,412
Cost 62,484 1,064,016 1,126,500
51,726 1,103,186 1,154,912

If listed investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,064,016 -

Listed investments were valued on an open market basis on 31 March 2023 by Mr Ali Matur - Director .
Company
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 115,120 50 115,170
NET BOOK VALUE
At 31 March 2023 115,120 50 115,170
At 31 March 2022 115,120 50 115,170

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Holland Bazaar Limited
Registered office: 239-241 Kennington Lane, London SE11 5QU
Nature of business: Wholsaler of fruits, vegetables and groceries
%
Class of shares: holding
Ordinary 75.00

Stablewood Limited
Registered office: Stand 97 Market Pavillion, Near Spitalfields Market 1 Sherrin Road, Leyton, London E10 5SQ
Nature of business: Wholesaler of fruits and vegetables
%
Class of shares: holding
Ordinary A 100.00
Ordinary B 100.00

Harman Enterprise Limited
Registered office: Unit 8 Edmonton Trade Park, 10 Advent Way, London N18 3AJ
Nature of business: Property development and rental income
%
Class of shares: holding
Ordinary 100.00

La Luna Limited
Registered office: 462 Muswell Hill Broadway, London N10 1BS
Nature of business: Restaurant
%
Class of shares: holding
Ordinary 70.00

H B Mines Limited
Registered office: Unit 15 A&B Eley Estate, Edmonton, London N18 3BB
Nature of business: Investment company
%
Class of shares: holding
Ordinary 75.00

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

12. FIXED ASSET INVESTMENTS - continued

Arman Enterprise Limited
Registered office: Unit 8 Edmonton Trade Park, 10 Advent Way, London N18 3AJ
Nature of business: Not trading
%
Class of shares: holding
Ordinary 100.00

HB Madencilik A.S.
Registered office: Icerenkoy Mahallesi Topcu Ibrahim SK.No:8-10D/5 Atasehir/Istanbul Turkey
Nature of business: Mining and quarrying
%
Class of shares: holding
Ordinary 75.00

H B Properties N17 Ltd
Registered office: Unit 15 A&B Eley Estate, Edmonton, London N18 3BB
Nature of business: Buying, selling and letting of real estate
%
Class of shares: holding
Ordinary 75.00

La Luna Catering Ltd
Registered office: 1264 High Road, London N20 9HH
Nature of business: Restaurants
%
Class of shares: holding
Ordinary 52.50

Associated companies

Tooting Food Centre Limited
Registered office: 6-8 Upper Tooting Road, Tooting Bec, London SW17 7PG
Nature of business: Supermarket
%
Class of shares: holding
Ordinary 50.00

Umutoni Ltd
Registered office: 9 Eden Close, London, England EN3 6YN
Nature of business: Sales of jewellery
%
Class of shares: holding
Ordinary 50.00

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

12. FIXED ASSET INVESTMENTS - continued

Cleanux Chemicals Ltd
Registered office: Markays House, Gordon Road, Waltham Abbey EN9 1AF
Nature of business: Manufacture of cleaning products
%
Class of shares: holding
Ordinary 37.50


13. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 April 2022 13,015,816
Additions 9,966,555
Disposals (500,000 )
At 31 March 2023 22,482,371
NET BOOK VALUE
At 31 March 2023 22,482,371
At 31 March 2022 13,015,816

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2019 1,173,035
Cost 21,309,336
22,482,371

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

2023 2022
£    £   
Cost 21,309,337 11,842,782

Investment property was valued on an open market basis on 31 March 2023 by Mr A Matur - director .

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

14. STOCKS

Group
2023 2022
£    £   
Finished goods 15,936,869 10,354,271

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Trade debtors 11,766,497 8,768,923 - -
Purchase ledger debit balance 1,138,347 188,711 - -
Rent deposits 230,651 230,651 - -
Amounts owed by group undertakings - - 208,051 213,274
Amounts owed by associates 446,713 446,713 - -
Other debtors 1,629 2,820 - -
Tenants deposits 48,593 46,913 - -
No description 163,264 - - -
Directors' current accounts 103,042 1,741,803 - -
Tax 1,094 - - -
Tax refundable section 455 689,112 537,436 - -
Prepayments and accrued income 45 382 - -
Prepayments 221,624 305,665 - -
14,810,611 12,270,017 208,051 213,274

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 18) 1,410,170 183,383 - -
Hire purchase contracts (see note 19) 12,942 12,942 - -
Trade creditors 25,786,409 17,793,876 18,075 9,626
Tenants deposits 16,093 24,761 - -
Tax 1,000,386 1,419,307 - 5,223
Social security and other taxes 211,994 120,072 - -
Net wages control account 326,761 - - -
Pension control account 24,283 18,939 - -
VAT 231,981 68,818 - -
Directors' current accounts 161,456 - 2,086 1,253
Accruals and deferred income 101,538 101,538 - -
Accrued expenses 530,222 497,126 12,000 8,400
29,814,235 20,240,762 32,161 24,502

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2023 2022
£    £   
Bank loans (see note 18) 12,210,001 1,920,000
Hire purchase contracts (see note 19) 25,685 38,627
12,235,686 1,958,627

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

18. LOANS

An analysis of the maturity of loans is given below:

Group
2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 233,503 3,383
Bank loans 1,176,667 180,000
1,410,170 183,383
Amounts falling due between one and two years:
Bank loans - 1-2 years 1,176,667 180,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 3,530,000 540,000
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 7,503,334 1,200,000

19. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 12,942 12,942
Between one and five years 25,685 38,627
38,627 51,569

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

19. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 1,496,996 1,163,586
Between one and five years 5,660,502 4,384,007
In more than five years 6,041,024 8,139,130
13,198,522 13,686,723

20. SECURED DEBTS

The following secured debts are included within creditors:

Group
2023 2022
£    £   
Bank loans 13,386,668 2,100,000

Bank loans are secured by fixed and floating charge over all the assets of the group.
All companies in the group have given an unlimited cross guarantee under the loan agreements.

21. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax 871,293 538,017

Group
Deferred
tax
£   
Balance at 1 April 2022 538,017
Charge to Income Statement during year 323,484
Capital allowance in excess
Revaluation of investments 9,792
Balance at 31 March 2023 871,293

CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

22. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

23. RESERVES

Group
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 22,430,944 1,173,035 23,603,979
Profit for the year 4,374,390 4,374,390
Dividends (565,000 ) (565,000 )
Fair value reserve (29,378 ) 29,378 -
At 31 March 2023 26,210,956 1,202,413 27,413,369

Company
Retained
earnings
£   

At 1 April 2022 303,942
Profit for the year 552,118
Dividends (565,000 )
At 31 March 2023 291,060


CDH Matur Holdings Limited (Registered number: 11059072)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 March 2023

24. NON-CONTROLLING INTERESTS

Minority interest in the current profit and loss results is stated after tax. In the balance sheet, it is their share of the reserves and issued share capital of the subsidiaries at 31 March 2022.


2023 2022
£ £
Interest in shares 227,400 227,400
Interest in reserves b/f 3,709,897 2,851,475
Interest in profit for the year 720,032 858,317
Interest in dividend paid (132,500 ) (137,500 )
--------------- --------------
4,524,829 3,799,692
======== =======

25. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr A Matur
Balance outstanding at start of year 1,741,803 1,834,950
Amounts repaid (1,638,761 ) (93,147 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 103,042 1,741,803

26. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
2023 2022
£    £   
Sales 392,233 198,747
Purchases 2,682,414 2,308,247
Transfers - 344,080
Amount due from related party 446,713 446,713

27. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A Matur.