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REGISTERED NUMBER: 02112285 (England and Wales)



















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

SOUTH EASTERN FOODS LIMITED

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH EASTERN FOODS LIMITED

COMPANY INFORMATION
for the Year Ended 30 JUNE 2023







DIRECTORS: Mr G R Linkins
Mr C G Linkins
Ms C E Linkins





SECRETARY: Ms C E Linkins





REGISTERED OFFICE: c/o Bradleys
Wotton Road
Ashford
Kent
TN23 6LL





REGISTERED NUMBER: 02112285 (England and Wales)





ACCOUNTANTS: Foxley Kingham
Chartered Accountants
260 - 270 Butterfield
Great Marlings
Luton
Bedfordshire
LU2 8DL

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 951,745 456,532
Investments 6 7,500 7,500
959,245 464,032

CURRENT ASSETS
Stocks 542,354 576,297
Debtors 7 1,966,635 1,696,940
Cash at bank and in hand 515,681 554,738
3,024,670 2,827,975
CREDITORS
Amounts falling due within one year 8 1,443,377 1,296,664
NET CURRENT ASSETS 1,581,293 1,531,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,540,538

1,995,343

CREDITORS
Amounts falling due after more than one
year

9

(78,083

)

(129,560

)

PROVISIONS FOR LIABILITIES (165,672 ) (36,307 )
NET ASSETS 2,296,783 1,829,476

CAPITAL AND RESERVES
Called up share capital 12 1,000 1,000
Retained earnings 2,295,783 1,828,476
SHAREHOLDERS' FUNDS 2,296,783 1,829,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 January 2024 and were signed on its behalf by:




Mr G R Linkins - Director



Mr C G Linkins - Director


SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 JUNE 2023

1. STATUTORY INFORMATION

South Eastern Foods 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 Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Over the term of the lease
Fixtures and fittings - 20% on cost and 10% on cost
Motor vehicles - 15% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 404,796
AMORTISATION
At 1 July 2022
and 30 June 2023 404,796
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 JUNE 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2022 461,821 524,511 351,534 1,337,866
Additions - 525,615 37,995 563,610
Disposals - (161,062 ) (49,630 ) (210,692 )
At 30 June 2023 461,821 889,064 339,899 1,690,784
DEPRECIATION
At 1 July 2022 252,996 359,987 268,351 881,334
Charge for year 10,655 43,148 14,594 68,397
Eliminated on disposal - (161,062 ) (49,630 ) (210,692 )
Reclassification/transfer (13,794 ) 13,794 - -
At 30 June 2023 249,857 255,867 233,315 739,039
NET BOOK VALUE
At 30 June 2023 211,964 633,197 106,584 951,745
At 30 June 2022 208,825 164,524 83,183 456,532

The net book value of tangible fixed assets includes £ 18,400 in respect of assets held under hire purchase contracts.

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 7,500
NET BOOK VALUE
At 30 June 2023 7,500
At 30 June 2022 7,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 672,194 572,505
Amounts owed by group undertakings 87,889 398,396
Other debtors 1,206,552 726,039
1,966,635 1,696,940

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 JUNE 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 55,556 50,996
Hire purchase contracts (see note 10) 6,480 -
Trade creditors 1,090,974 1,045,623
Amounts owed to group undertakings 132,290 160,994
Taxation and social security 101,448 29,882
Other creditors 56,629 9,169
1,443,377 1,296,664

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 69,444 129,560
Hire purchase contracts (see note 10) 8,639 -
78,083 129,560

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 6,480 -
Between one and five years 8,639 -
15,119 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 158,343 99,996
Between one and five years 214,873 74,997
373,216 174,993

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 JUNE 2023

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 125,000 180,556
Hire purchase contracts 15,119 -
140,119 180,556

The bank loan is secured by a fixed and floating charge over the assets of the company. The hire purchase contracts are secured over the assets to which they relate.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

13. OTHER FINANCIAL COMMITMENTS

The company has entered into a multi-lateral guarantee with it's parent company and a fellow subsidiaries in favour of Barclays Bank Plc.

At 30 June 2023, a mortgage facility totalling £191,208 (2022 - £376,373) was being used by the fellow subsidiaries.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023 2022
£    £   
Mr G R Linkins
Balance outstanding at start of year - -
Amounts advanced 300,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 300,000 -

The loan was interest free and repayable on demand.