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REGISTERED NUMBER: 04206555 (England and Wales)















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: H Johnson
P E Crossley
S Breen
P M Walsh





REGISTERED OFFICE: Sculcoates Tannery
Sculcoates
Hull
East Yorkshire
HU5 1RL





REGISTERED NUMBER: 04206555 (England and Wales)





AUDITORS: Brosnans
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 6,317,976 5,657,124

CURRENT ASSETS
Stocks 618,918 823,929
Debtors 5 1,713,913 1,465,091
Cash at bank and in hand 891,301 174,796
3,224,132 2,463,816
CREDITORS
Amounts falling due within one year 6 (1,354,214 ) (1,530,930 )
NET CURRENT ASSETS 1,869,918 932,886
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,187,894

6,590,010

CREDITORS
Amounts falling due after more than
one year

7

(4,711,699

)

(3,683,249

)
NET ASSETS 3,476,195 2,906,761

CAPITAL AND RESERVES
Called up share capital 10 2,500,000 1,700,000
Share premium 250,000 250,000
Capital redemption reserve 100,000 100,000
Fair value reserve 11 649,031 649,031
Retained earnings (22,836 ) 207,730
SHAREHOLDERS' FUNDS 3,476,195 2,906,761

HOLMES HALLS (PROCESSORS) LIMITED (REGISTERED NUMBER: 04206555)

BALANCE SHEET - continued
31 DECEMBER 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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 March 2024 and were signed on its behalf by:





P E Crossley - Director


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 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.

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
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 as modified by the revaluation of certain assets.

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
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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and at varying rates on cost

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 47 (2022 - 46 ) .

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 1,703,570 6,279,534 7,983,104
Additions 176,347 973,175 1,149,522
Disposals - (50,350 ) (50,350 )
At 31 December 2023 1,879,917 7,202,359 9,082,276
DEPRECIATION
At 1 January 2023 - 2,325,980 2,325,980
Charge for year 19,373 455,751 475,124
Eliminated on disposal - (36,804 ) (36,804 )
At 31 December 2023 19,373 2,744,927 2,764,300
NET BOOK VALUE
At 31 December 2023 1,860,544 4,457,432 6,317,976
At 31 December 2022 1,703,570 3,953,554 5,657,124

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 1,008,173 1,159,717
Other debtors 705,740 305,374
1,713,913 1,465,091

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 50,515
Hire purchase contracts (see note 8) 5,469 -
Trade creditors 684,286 824,647
Taxation and social security 242,914 99,926
Other creditors 421,545 555,842
1,354,214 1,530,930

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 681,582
Hire purchase contracts (see note 8) 15,039 -
Other creditors 4,696,660 3,001,667
4,711,699 3,683,249

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 5,469 -
Between one and five years 15,039 -
20,508 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 56,391 56,391
Between one and five years 123,384 179,775
179,775 236,166

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: £    £   
500,000 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 649,031

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam John Brosnan (Senior Statutory Auditor)
for and on behalf of Brosnans

13. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 30,000 78,645

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 Dawn Holdings Limited.

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.