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REGISTERED NUMBER: 00884312 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BHJ UK FOOD LIMITED

BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BHJ UK FOOD LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: J P Constable
T Matzen
Mrs A M H Hansen
M Roach
P Denn
T Bendix





SECRETARY: Ms L Prest





REGISTERED OFFICE: Minster House
23 Flemingate
Beverley
East Yorkshire
HU17 0NP





REGISTERED NUMBER: 00884312 (England and Wales)





AUDITORS: Sowerby
Chartered Accountants and Statutory Auditors
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,785 -

CURRENT ASSETS
Stocks 212,533 174,505
Debtors 5 1,620,185 2,635,078
Cash at bank 842,278 270,702
2,674,996 3,080,285
CREDITORS
Amounts falling due within one year 6 1,317,261 1,707,355
NET CURRENT ASSETS 1,357,735 1,372,930
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,374,520

1,372,930

CAPITAL AND RESERVES
Share capital 400,000 400,000
Retained earnings 974,520 972,930
SHAREHOLDERS' FUNDS 1,374,520 1,372,930

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 27 February 2024 and were signed on its behalf by:





J P Constable - Director


BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

BHJ UK Food Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Minster House, 23 Flemingate, Beverley, East Yorkshire, England, HU17 0NP.

The principal activity of the company is other food services.

The presentational currency of the financial statements is 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

External factors still affect business, Brexit and its new conditions affect the import of goods into the country, export is still difficult with its constraints. Covid and food inflation also affects the spending power of the general public and this has a direct affect on the company trading business. The directors continue to identify new markets in the food industry and with the company position as a leading name in the industry it still gets opportunities through its network of contacts. The company still remains focused on the animal by-products sector but with the new 5 year business plan it is searching for new opportunities within the sector it is most knowledgeable of. The company benefits from working within a larger group with international presence and this enables the company to obtain information and new market trends and opportunities.

Having prepared and reviewed detailed forecasts for the company, considering liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Sales are recognised at the point which the company has fulfilled its contracted obligations and the risks and rewards attached to the product, have been transferred to the customer.

BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 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.

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, whichever is the shorter.

Fixtures and fittings - 25% per annum

Tangible fixed assets are held under the historical cost model.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carry amount of an asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stock
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.

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.

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.

BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

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.

Trade and other debtors
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such case the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Trade and other creditors
Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Impairment of financial assets

Financial assets, are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that have occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Interest bearing borrowings

Interest-bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

Related parties

For the purposes of these financial statements, a party is considered to be related to the company if:

(i) the party has the ability, directly or indirectly, through one or more intermediaries, to control the company or exercise significant influence over the company in making financial and operating policy decisions, or has joint control over the company;

(ii) the company and the party are subject to common control;

(iii) the party is an associate of the company or a joint venture in which the company is a venture

(iv) the party is a member of key management personnel of the company or the company's parent, or a close family member of such an individual, or is an entity under the control, joint control or significant influence of such individuals;

(v) the party is a close family member of a party referred to in (i) or is an entity under the control, joint control or significant influence of such individuals; or

(vi) the party is a post-employment benefit plan which is for the benefit of employees of the company or of any entity that is a related party of the company.

(vii) the party, or any member of a group of which it is part, provides key management personnel services to the company or its parent.

Close family members of an individual are those family members who may be expected to influence, or be influenced by, that individual in their dealings with the entity.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 10 ) .

BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 54,970
Additions 18,334
Disposals (51,578 )
At 31 December 2023 21,726
DEPRECIATION
At 1 January 2023 54,970
Charge for year 1,549
Eliminated on disposal (51,578 )
At 31 December 2023 4,941
NET BOOK VALUE
At 31 December 2023 16,785

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,013,544 870,813
Amounts owed by group undertakings 560,036 1,753,442
Other debtors 9,117 8,228
Tax 17,812 (8,456 )
Deferred tax asset 640 1,714
Prepayments and accrued income 19,036 9,337
1,620,185 2,635,078

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 920,206 1,301,605
Amounts owed to group undertakings 38,530 -
Social security and other taxes 26,735 19,600
Accruals and deferred income 331,790 386,150
1,317,261 1,707,355

BHJ UK FOOD LIMITED (REGISTERED NUMBER: 00884312)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023


7. COMMITMENTS UNDER OPERATING
LEASES

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 46,336 30,022
Between one and five years 109,039 71,681
In more than five years 20,417 -
175,792 101,703

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

The Report of the Auditors was unqualified.

Elizabeth Blanchard BA(Hons) BFP ACA PGCE (Senior Statutory Auditor)
for and on behalf of Sowerby

9. CONTROLLING PARTY

The company is controlled by LGI Denmark ApS, the company's immediate parent company, incorporated in Denmark. The ultimate parent company is The Lauridsen Group Inc., a company registered in the USA.

The largest group in which the results of the company are consolidated is that headed by The Lauridsen Group Inc., incorporated in the USA. The smallest group in which they are consolidated is that headed by LGI International Holding S.á.r.l., incorporated in Luxembourg. The consolidated accounts of LGI International Holding S.á.r.l. are available to the public and may be obtained from Ulsnaes 33 - DK 6300 Gråsten, Denmark.