REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HOLMES HALLS (PROCESSORS) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HOLMES HALLS (PROCESSORS) LIMITED |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HOLMES HALLS (PROCESSORS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
and Statutory Auditors |
Birkby House |
Bailiff Bridge |
Brighouse |
West Yorkshire |
HD6 4JJ |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Capital redemption reserve |
Fair value reserve | 11 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Holmes Halls (Processors) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The company has extended the accounting period to 31 December 2021 in order to align with the accounting period of other group components. |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
TANGIBLE FIXED ASSETS |
Land and buildings | - |
Plant and machinery etc | - |
Land and buildings were valued on 16 November 2022. The valuation was undertaken by Scotts Property LLP Chartered Surveyors at market value. |
STOCKS |
Stocks are valued at the lower of average cost and estimated net realisable value. Cost comprises direct materials and labour costs together with the relevant factory overheads on the basis of normal activity levels. |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
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. |
FOREIGN CURRENCIES |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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 company contributes to personal pension schemes individual to the employees and the pension charge represents the amount payable by the company to these schemes in respect of the year. Pension contributions outstanding at the year end were £nil (2020 - £2,421). |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Cost or valuation at 31 December 2023 is represented by: |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2022 | 1,703,570 | - | 1,703,570 |
Valuation in 2023 | 176,347 | 7,202,359 | 7,378,706 |
1,879,917 | 7,202,359 | 9,082,276 |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
If Freehold Property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 1,155,489 | 1,155,489 |
Aggregate depreciation | 109,423 | 97,380 |
Value of land in freehold land and buildings | 1,046,066 | 558,131 |
Freehold property was valued on an open market basis on 16 November 2022 by Scotts Property LLP . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 8) |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 8) |
Other creditors |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2023 | 2022 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 479,522 |
8. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable | operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 20,508 | - |
Hire purchase creditors of £20,508 are secured by the assets to which they relate. |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 2,500,000 | 1,700,000 |
During the year, 800,000 £1 Ordinary shares were issued at par to increase the capital base of the company. |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2023 |
and 31 December 2023 |
12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | CAPITAL COMMITMENTS |
2023 | 2022 |
£ | £ |
Contracted but not provided for in the |
financial statements |
HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
14. | RELATED PARTY DISCLOSURES |
Included in trade debtors and trade creditors are the following related party balances detailed together with associated sales and purchase transactions. |
Year ended 31 December 2023 | Sales | Debtors | Purchases | Creditor |
Adelaide S.P.A. (UK) Limited | 4,534,397 | 516,956 | 284,386 | 410,000 |
Dunbia (UK) | 2,515,677 | 230,438 | 407,384 | - |
Dawn Meats | - | - | - | 2,676,000 |
Finco 1865 SPA | - | - | 1,830 | 1,610,660 |
Year ended 31 December 2022 |
Adelaide S.P.A. (UK) Limited | 5,3914,212 | 725,885 | 518,062 | 645,416 |
Dunbia (UK) | 1,022,576 | 138,076 | 149,809 | - |
Dawn Meats | - | - | - | 930,000 |
Finco 1865 SPA | - | - | 566,505 | 916,667 |
During the year Adelaide S.P.A (UK) Limited waived £180,000 of their loan. |
The director, Howard Johnson, is also a director of Adelaide S.P.A (UK) Limited and the director, Sean Breen is also a director of Dunbia (UK). |
15. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
16. | GOVERNMENT GRANTS |
The company received grants in relation to property improvements and plant additions in 2018 and 2019 of £64,177. There are no unfilled conditions relating to the grants. |