Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity11truetruefalse 10445520 2023-01-01 2023-12-31 10445520 2022-01-01 2022-12-31 10445520 2023-12-31 10445520 2022-12-31 10445520 c:Director1 2023-01-01 2023-12-31 10445520 c:RegisteredOffice 2023-01-01 2023-12-31 10445520 c:Agent1 2023-01-01 2023-12-31 10445520 d:CurrentFinancialInstruments 2023-12-31 10445520 d:CurrentFinancialInstruments 2022-12-31 10445520 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10445520 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10445520 d:ShareCapital 2023-12-31 10445520 d:ShareCapital 2022-12-31 10445520 d:RetainedEarningsAccumulatedLosses 2023-12-31 10445520 d:RetainedEarningsAccumulatedLosses 2022-12-31 10445520 c:FRS102 2023-01-01 2023-12-31 10445520 c:Audited 2023-01-01 2023-12-31 10445520 c:FullAccounts 2023-01-01 2023-12-31 10445520 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10445520 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10445520 6 2023-01-01 2023-12-31 10445520 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 10445520







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


FN GLOBAL MEAT UK LIMITED (Formerly South Pacific Meats Limited)






































img19a7.png                        

 


FN GLOBAL MEAT UK LIMITED
 


 
COMPANY INFORMATION


Director
M Hooreman 




Registered number
10445520



Registered office
Magna House
18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP




Independent auditors
Menzies LLP
Chartered Accountants & Statutory Auditor

Magna House

18-32 London Road

Staines-Upon-Thames

Surrey

TW18 4BP




Bankers
HSBC UK Bank Plc
1 Centenary Square

Birmingham

B1 1HQ





 


FN GLOBAL MEAT UK LIMITED
 



CONTENTS



Page
Statement of financial position
1
Notes to the financial statements
2 - 5


 


FN GLOBAL MEAT UK LIMITED
REGISTERED NUMBER:10445520



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1
1

  
1
1

Current assets
  

Stocks
 5 
365,863
2,290,044

Debtors: amounts falling due within one year
 6 
1,500,970
1,642,897

Cash at bank and in hand
  
183,521
39,335

  
2,050,354
3,972,276

Creditors: amounts falling due within one year
 7 
(1,521,057)
(3,461,017)

Net current assets
  
 
 
529,297
 
 
511,259

Total assets less current liabilities
  
529,298
511,260

  

Net assets
  
529,298
511,260


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
529,198
511,160

  
529,298
511,260


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Hooreman
Director

Date: 14 August 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


FN GLOBAL MEAT UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

FN Global Meat UK Limited (formerly South Pacific Meats Limited) is a private company limited by shares and incorporated in England and Wales.  There is no principal place of business.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is generated by wholesale of meat and meat products. This is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. This determination is made at the point of delivery or when the customer collects the goods. Revenue is measured as the fair value of the consideration received or receivable excluding discounts.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares..

Page 2

 


FN GLOBAL MEAT UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 -1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1



At 31 December 2023
1





5.


Stocks

2023
2022
£
£

Meat products
365,863
2,290,044

365,863
2,290,044


Page 3

 


FN GLOBAL MEAT UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
712,157
1,089,335

Amounts owed by group undertakings
461,459
-

Other debtors
10,325
254,612

Prepayments
317,029
298,950

1,500,970
1,642,897



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
354,805
769,014

Amounts owed to group undertakings
1,140,822
2,646,542

Other creditors
-
21,711

Accruals and deferred income
25,430
23,750

1,521,057
3,461,017



8.


Controlling party

The parent company is FN Global Meat Holding B.V., a company registered in the Netherlands after it acquired the shares in the company during the year. The address of the registered office is Heliotroopring 700, 3316 KG Dordrecht, The Netherlands. 
The company's results are consolidated in the financial statements of FN Global Meat Holding B.V. and these can be obtained from its registered office.

Page 4

 


FN GLOBAL MEAT UK LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was qualified.

The qualification in the audit report was as follows:
We were not appointed as auditor of the company until after the year ended 31 December 2022 and thus did not observe the counting of physical inventories at the end of that year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities of £2,290,044 held at 31 December 2022, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount at 31 December 2022 was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2023.

Additionally the financial statements for the year ended 31 December 2021 were unaudited and thus we did not observe the counting of physical inventories at the end of that year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities of £320,497 included in the balance sheet at 31 December 2021 by using other audit procedures. Consequently, we were unable to determine whether any adjustment to this amount at 31 December 2021 was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2022. Our audit opinion on the financial statements for the period ended 31 December 2022 was modified accordingly. Our opinion on the current periods financial statements is also modified because of the possible effect of this matter on the comparability of the current periods figures and the corresponding figures.

The audit report was signed on 14 August 2024 by Sophie Said FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 5