Company registration number 13526346 (England and Wales)
TYSON UK FINANCE LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TYSON UK FINANCE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TYSON UK FINANCE LIMITED (REGISTERED NUMBER: 13526346)
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
$000
$000
$000
$000
Current assets
Debtors
3
1,033,071
1,032,996
Cash at bank and in hand
1,956
777
1,035,027
1,033,773
Creditors: amounts falling due within one year
4
(701)
(3,061)
Net current assets
1,034,326
1,030,712
Capital and reserves
Called up share capital
1,000,000
1,000,000
Profit and loss reserves
34,326
30,712
Total equity
1,034,326
1,030,712

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
G H McGrath
Director
TYSON UK FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Tyson UK Finance Limited is a private company limited by shares incorporated in England and Wales. The registered office is 130 Eureka Park Upper Pemberton, Kennington, Ashford, Kent, TN25 4AZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The functional and presentational currency is USD. The company accounts have been prepared in USD. Monetary amounts in these financial statements are rounded to the nearest $1,000

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 

In addition, the ultimate parent company Tyson Foods Inc has confirmed it will continue to support the company.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

TYSON UK FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.6

Interest income

Interest income is recognised in the profit and loss account using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
TYSON UK FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
3
Debtors
2023
2022
Amounts falling due within one year:
$000
$000
Amounts owed by group undertakings
1,033,071
1,032,996
4
Creditors: amounts falling due within one year
2023
2022
$000
$000
Taxation and social security
701
3,061
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Scott Jiggins
Statutory Auditor:
Perrys Audit Limited
6
Events after the reporting date

After the balance sheet date, the company issued 13,000,000 ordinary shares at a nominal value of $1 per share.

7
Related party transactions

Tyson UK Finance Limited accounts are included as part of the Tyson Food Inc. group company financial statement and therefore this company has taken advantage of the exemptions conferred by section 33.1(a) of FRS 102 from the requirement to make disclosures concerning transactions with fellow group undertakings.

8
Parent company

The immediate parent company is Golden Quality Foods Industry (England) Limited, a company incorporated in the UK.

 

The ultimate parent company is Tyson Foods Inc, a company incorporated in the United States of America.

 

The largest group in which the results of the company are consolidated is that headed by Tyson Foods Inc, a company incorporated in the United States of America. The consolidated accounts are available from www.tysonfoods.com.

2023-12-312023-01-01false20 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedM ElserC CalawayH Van TongerenG H McGrathH Suttonfalsefalse135263462023-01-012023-12-31135263462023-12-31135263462022-12-3113526346core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3113526346core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3113526346core:ShareCapital2023-12-3113526346core:ShareCapital2022-12-3113526346core:RetainedEarningsAccumulatedLosses2023-12-3113526346core:RetainedEarningsAccumulatedLosses2022-12-3113526346bus:Director42023-01-012023-12-31135263462021-07-232022-12-3113526346core:CurrentFinancialInstruments2022-12-3113526346core:CurrentFinancialInstruments2023-12-3113526346bus:PrivateLimitedCompanyLtd2023-01-012023-12-3113526346bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3113526346bus:FRS1022023-01-012023-12-3113526346bus:Audited2023-01-012023-12-3113526346bus:Director12023-01-012023-12-3113526346bus:Director22023-01-012023-12-3113526346bus:Director32023-01-012023-12-3113526346bus:Director52023-01-012023-12-3113526346bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP