IRIS Accounts Production v24.3.2.46 11267411 Board of Directors Board of Directors 30.4.24 1.5.23 30.4.24 30.4.24 wholesale butcher. true true false true true false false false true false Ordinary A Shares of £1 each 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh112674112023-04-30112674112024-04-30112674112023-05-012024-04-30112674112022-04-30112674112022-05-012023-04-30112674112023-04-3011267411ns15:EnglandWales2023-05-012024-04-3011267411ns14:PoundSterling2023-05-012024-04-3011267411ns10:Director12023-05-012024-04-3011267411ns10:Director22023-05-012024-04-3011267411ns10:Consolidated2024-04-3011267411ns10:ConsolidatedGroupCompanyAccounts2023-05-012024-04-3011267411ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3011267411ns10:Consolidatedns10:FRS1022023-05-012024-04-3011267411ns10:Consolidatedns10:Audited2023-05-012024-04-3011267411ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3011267411ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-05-012024-04-3011267411ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-05-012024-04-3011267411ns10:LargeMedium-sizedCompaniesRegimeForAccountsns10:Consolidated2023-05-012024-04-3011267411ns10:FullAccounts2023-05-012024-04-301126741112023-05-012024-04-3011267411ns10:OrdinaryShareClass12023-05-012024-04-3011267411ns10:Consolidated2023-05-012024-04-3011267411ns10:RegisteredOffice2023-05-012024-04-3011267411ns10:Consolidated2022-05-012023-04-3011267411ns5:CurrentFinancialInstruments2024-04-3011267411ns5:CurrentFinancialInstruments2023-04-3011267411ns5:ShareCapital2024-04-3011267411ns5:ShareCapital2023-04-3011267411ns5:CapitalRedemptionReserve2024-04-3011267411ns5:CapitalRedemptionReserve2023-04-3011267411ns5:RetainedEarningsAccumulatedLosses2024-04-3011267411ns5:RetainedEarningsAccumulatedLosses2023-04-3011267411ns5:NetGoodwill2023-05-012024-04-3011267411ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3011267411ns5:ComputerSoftware2023-05-012024-04-3011267411ns5:LongLeaseholdAssetsns5:LandBuildings2023-05-012024-04-3011267411ns5:PlantMachinery2023-05-012024-04-3011267411ns5:FurnitureFittings2023-05-012024-04-3011267411ns5:MotorVehicles2023-05-012024-04-3011267411ns5:ComputerEquipment2023-05-012024-04-3011267411ns5:CostValuation2023-04-3011267411ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-3011267411ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-3011267411ns5:DeferredTaxation2024-04-3011267411ns10:OrdinaryShareClass12024-04-3011267411ns5:RetainedEarningsAccumulatedLosses2023-04-3011267411ns5:CapitalRedemptionReserve2023-04-3011267411ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 11267411 (England and Wales)












OWTONS HOLDING LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Statement of Income and Retained
Earnings

9

Consolidated Statement of Financial Position 10

Company Statement of Financial Position 11

Consolidated Statement of Cash Flows 12

Notes to the Consolidated Statement of Cash Flows 13

Notes to the Consolidated Financial Statements 16


OWTONS HOLDING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: W M Owton
Mrs S Owton


REGISTERED OFFICE: Unit 17, Chalcroft Business Park
Burnetts Lane
West End
Southampton
Hampshire
SO30 2PA


REGISTERED NUMBER: 11267411 (England and Wales)


SENIOR STATUTORY
AUDITOR:
Michaela Johns FCCA


AUDITORS: Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR


BANKERS: Santander UK plc
2 Triton Square
Regent's Place
London
NW1 3AN

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS
The principal activity of the company during the year continued to be that of a wholesale butchers.

During the year the business experienced a decrease in the turnover. The gross profit margin reported on each sale line remained consistent with previous years, which is pleasing given the fluctuations seen in the costs of purchasing meat over the year.

Post year end the business is generating healthy levels of profits and the directors foresee this continuing into the future.

PRINCIPAL RISKS AND UNCERTAINTIES
In terms of financial risk, there are few material elements. The Group must always consider and review its credit terms with customers and suppliers to ensure that the working capital cycle is not overly stretched.

The major risk comes from competition. From the view of the wholesale side of the business, the directors are of the view that the R Owton's name is well established and respected within the market and therefore able to withstand an element of competition threats. From the retail outlet side, the market place is highly competitive and the Group has focussed on then quality of its produce in order to differentiate it from competitors and maintain market share.

FINANCIAL KEY PERFORMANCE INDICATORS
The directors consider gross profit as a percentage of turnover to be the main key performance indicator when analysing business performance. The percentage shown below has been adjusted in the prior year to take account of government grants received.

2024 2023

Gross profit margin 6.97% 9.77%
Trade debtor days 23.70 36.35
Trade creditor days 38.03 35.39
Stock turnover days 58.97 59.93

ON BEHALF OF THE BOARD:





W M Owton - Director


3 January 2025

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

DIVIDENDS
Dividends amounting to £72,000 (2023: £72,000) were paid during the year.

FUTURE DEVELOPMENTS
The directors will continue to focus on the growth of the business, whilst ensuring they maintain a high quality of produce.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

W M Owton
Mrs S Owton

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024


AUDITORS
The auditors, Hopper Williams & Bell Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





W M Owton - Director


3 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OWTONS HOLDING LIMITED


Opinion
We have audited the financial statements of Owtons Holding Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OWTONS HOLDING LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OWTONS HOLDING LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and the parent company, and the industry in which they operate. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Principles and the relevant tax compliance regulations for the group and the parent company.

- We obtained an understanding of how the group and the parent company is complying with these frameworks through discussions with management.

- We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs and correspondence.

- We assessed the susceptibility of the group's and the parent company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.

- We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the group and the parent company operates in, and their practical experience through training and participation with audit engagements of a similar nature.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
OWTONS HOLDING LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michaela Johns FCCA (Senior Statutory Auditor)
for and on behalf of Hopper Williams & Bell Limited
Statutory Auditor
Highland House
Mayflower Close
Chandler's Ford
Eastleigh
Hampshire
SO53 4AR

3 January 2025

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £ £

TURNOVER 4 30,325,536 32,626,510

Cost of sales (28,208,066 ) (29,437,805 )
GROSS PROFIT 2,117,470 3,188,705

Administrative expenses (2,669,263 ) (2,660,745 )
OPERATING (LOSS)/PROFIT 6 (551,793 ) 527,960

Interest receivable and similar income 13,439 4,028
(LOSS)/PROFIT BEFORE TAXATION (538,354 ) 531,988

Tax on (loss)/profit 7 102,711 (98,804 )
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(435,643

)

433,184

Retained earnings at beginning of year 4,083,938 3,722,754

Dividends 9 (72,000 ) (72,000 )

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

3,576,295

4,083,938

(Loss)/profit attributable to:
Owners of the parent (435,643 ) 433,184

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 10 93,753 60,418
Tangible assets 11 3,283,587 3,019,190
Investments 12 - -
3,377,340 3,079,608

CURRENT ASSETS
Stocks 13 529,875 498,709
Debtors 14 2,338,289 3,457,913
Cash at bank and in hand 1,589,456 723,364
4,457,620 4,679,986
CREDITORS
Amounts falling due within one year 15 (3,620,646 ) (3,051,758 )
NET CURRENT ASSETS 836,974 1,628,228
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,214,314

4,707,836

CREDITORS
Amounts falling due after more than one
year

16

(116,832

)

-

PROVISIONS FOR LIABILITIES 19 (520,987 ) (623,698 )
NET ASSETS 3,576,495 4,084,138

CAPITAL AND RESERVES
Called up share capital 20 160 160
Capital redemption reserve 21 40 40
Retained earnings 21 3,576,295 4,083,938
SHAREHOLDERS' FUNDS 3,576,495 4,084,138

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2025 and were signed on its behalf by:




W M Owton - Director



Mrs S Owton - Director


OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

COMPANY STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 10 - -
Tangible assets 11 - -
Investments 12 200 200
200 200

CURRENT ASSETS
Debtors 14 580,051 192,780
Cash at bank 214,079 600,640
794,130 793,420
CREDITORS
Amounts falling due within one year 15 (38,540 ) (24,785 )
NET CURRENT ASSETS 755,590 768,635
TOTAL ASSETS LESS CURRENT
LIABILITIES

755,790

768,835

CAPITAL AND RESERVES
Called up share capital 20 160 160
Capital redemption reserve 21 40 40
Retained earnings 21 755,590 768,635
SHAREHOLDERS' FUNDS 755,790 768,835

Company's profit for the financial year 58,955 72,000

The financial statements were approved by the Board of Directors and authorised for issue on 3 January 2025 and were signed on its behalf by:




W M Owton - Director



Mrs S Owton - Director


OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 1,965,648 (313,979 )
Tax paid (164,921 ) (51,533 )
Net cash from operating activities 1,800,727 (365,512 )

Cash flows from investing activities
Purchase of intangible fixed assets (40,995 ) -
Purchase of tangible fixed assets (704,069 ) (190,356 )
Interest received 13,439 4,028
Net cash from investing activities (731,625 ) (186,328 )

Cash flows from financing activities
Amount introduced by directors 100,000 323,642
Amount withdrawn by directors (200,036 ) (13,000 )
Equity dividends paid (72,000 ) (72,000 )
Net cash from financing activities (172,036 ) 238,642

Increase/(decrease) in cash and cash equivalents 897,066 (313,198 )
Cash and cash equivalents at beginning of
year

2

692,388

1,005,586

Cash and cash equivalents at end of year 2 1,589,456 692,388

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024


1. RECONCILIATION OF (LOSS)/PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED
FROM OPERATIONS

2024 2023
£ £
(Loss)/profit for the financial year (435,643 ) 433,184
Depreciation charges 393,122 289,579
Loss on disposal of fixed assets 54,208 -
Increase in provisions - 200,000
Finance income (13,439 ) (4,028 )
Taxation (102,711 ) 98,804
(104,463 ) 1,017,539
(Increase)/decrease in stocks (31,166 ) 91,467
Decrease/(increase) in trade and other debtors 1,171,173 (359,339 )
Increase/(decrease) in trade and other creditors 930,104 (1,063,646 )
Cash generated from operations 1,965,648 (313,979 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£ £
Cash and cash equivalents 1,589,456 723,364
Bank overdrafts - (30,976 )
1,589,456 692,388
Year ended 30 April 2023
30.4.23 1.5.22
£ £
Cash and cash equivalents 723,364 1,005,586
Bank overdrafts (30,976 ) -
692,388 1,005,586


OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.5.23 Cash flow At 30.4.24
£ £ £
Net cash
Cash at bank and in hand 723,364 866,092 1,589,456
Bank overdrafts (30,976 ) 30,976 -
692,388 897,068 1,589,456
Total 692,388 897,068 1,589,456

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

ERROR MESSAGES FROM THE CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2024


** CURRENT YEAR - MOVEMENT IN CASH AND CASH EQUIVALENTS
AS CALCULATED IN CONSOLIDATED STATEMENT OF CASH FLOWS
DOES NOT AGREE TO MOVEMENT PER STATEMENT OF FINANCIAL POSITION

COMPARE MOVEMENT ON CONSOLIDATED STATEMENT OF CASH
FLOWS

=

897,066


TO MOVEMENT PER STATEMENT OF FINANCIAL
POSITION
CASH AND CASH EQUIVALENTS LESS BANK OVERDRAFTS
866,092 - (30,976 ) = 897,068



OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Owtons Holding 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 General Information page.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary
amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value.

For the year ending 30 April 2024 the following subsidiaries of the group were entitled to exemption from
audit under s479A of the Companies Act 2006 relating to subsidiary companies.

Chalcroft Farm Shop Limited (Co. Number 03772166).

The guarantees required as part of this exemption, are provided by the parent company of the group, Owtons Holding Limited.

The principal accounting policies adopted are set out below.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

The acquisition of Chalcroft Farm Shop Limited in the year to 30 April 2017 has been completed under purchase method accounting. Within the Statement of Financial Position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date being 28 March 2018. The results of acquired operations are included in the Consolidated Statement of Income and Retained Earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

The acquisition of R Owton (Wholesale Butchers) Limited in the year to 30 April 2018 has been completed under merger accounting. Where ownership of the Group has not changed with the introduction of a new parent company, merger accounting requires a consolidation to be completed as if that new parent has always existed. As such, these consolidated statements present the results as if the parent company had always existed, even though it was only incorporated on 21 March 2018, and gained control of the group at that date.

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

- the group has transferred the significant risk and rewards of ownership to the buyer;
- the group retains neither continuing managerial involvement to the degree usually associated with
ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the group will receive the consideration due under the transaction; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the
Consolidated Statement of Comprehensive income over its useful economic life.

The estimated useful lives range as follows:

Goodwill - 10 years

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 20 years
Plant and machinery - 15% Reducing balance
Fixtures and fittings - 15% Reducing balance
Motor vehicles - Straight line over 5 years and Straight line over 3 years
Computer equipment - Straight line over 4 years

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are
recognised in the Consolidated Statement of Income and Retained Earnings.

Change in accounting estimate
During the prior year, the directors elected to change the depreciation rates adopted by the company following a review of the useful economic life of motor vehicle assets included in its balance sheet.


OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
As a result of this the depreciation charge in the current year has increased by a total of £38,171 to reflect the anticipated shorter useful lives of motor vehicles.

Financial instruments
The group has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

Financial assets
Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised
when paid. Final equity dividends are recognised when approve by the shareholders at an annual general
meeting.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the consolidated statement of income and retained earnings in the year that the group become aware of the obligation, and are measured at the best estimate at the consolidated statement of financial position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged against the provision recognised in the consolidated statement of financial position.

Impairment of financial assets
Financial assets measured at cost and amortised costs are assessed at the end of each reporting period for
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the consolidated statement of income and retained earnings.

For financial assets measured at cost less impairment,the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the consolidated statement of income and retained earnings.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINT

In the application of the Company's accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty
The estimates and assumptions which have a significant amount of assets and liabilities are as follows.

Stock
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. Work in progress and finished goods include labour and attributable overheads.

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 the Consolidated Statement of Income and Retained Earnings.

Dilapidation provision
The company has leases with its landlords which includes a clause obliging the Company to return the properties in the same condition as at the date of entry into the lease. The cost to bring the properties back to the condition cannot be confirmed until the Company leaves the properties and accordingly estimates are prepared at each reporting date.

The Company has estimated that it is unlikely that any material dilapidation payments will be required over and above the value of the tenant fittings remaining at the end of the Company's leases. Provision is only made for potential dilapidation payments when they can be reliably estimated, and it is probable that they will occur.

4. TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£ £
Food sales 30,325,536 32,626,510
30,325,536 32,626,510

All turnover arose within the United Kingdom.

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 3,679,886 3,838,958
Social security costs 341,514 350,103
Other pension costs 75,100 70,898
4,096,500 4,259,959

The average number of employees during the year was as follows:
2024 2023

Distribution staff 121 129
Administrative staff 2 2
Management staff 2 2
125 133

2024 2023
£ £
Directors' remuneration 33,390 33,738

The total wages disclosure has been re-stated for the prior year in order to accurately reflect the split between Wages and salaries, and Social security costs. These costs were grouped under one heading in the prior year.

Directors remuneration disclosure has been re-stated for the prior year to take into account all Director remuneration in the year.

6. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging:

2024 2023
£ £
Hire of plant and machinery 18,722 24,094
Other operating leases 272,917 279,348
Depreciation - owned assets 367,933 270,987
Loss on disposal of fixed assets 54,208 -
Goodwill amortisation 18,592 18,592
Computer software amortisation 6,599 -
Auditors' remuneration 20,000 18,000

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the loss for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax - 113,371

Deferred tax (102,711 ) (14,567 )
Tax on (loss)/profit (102,711 ) 98,804

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£ £
(Loss)/profit before tax (538,354 ) 531,988
(Loss)/profit multiplied by the standard rate of corporation tax in the UK
of 25 % (2023 - 19.490 %)

(134,589

)

103,684

Effects of:
Expenses not deductible for tax purposes 6,654 1,474
Depreciation on Non-Qualifying Assets 8,905 -
Other differences leading to an increase (decrease) in the tax charge 4,648 (3,140 )
Deferred Tax Not Provided in prior year 7,327 -
Change in tax rate - (3,214 )
Group relief 4,344 -
Total tax (credit)/charge (102,711 ) 98,804

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.

The profit after tax of the parent company for the year was £58,955 (2023 £72,000).

9. DIVIDENDS
2024 2023
£ £
Ordinary A Shares of £1 each shares of 1 each
Interim 72,000 72,000

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


10. INTANGIBLE FIXED ASSETS

Group
Computer
Goodwill software Totals
£ £ £
COST
At 1 May 2023 185,915 - 185,915
Additions 10,000 30,995 40,995
Reclassification/transfer - 20,625 20,625
At 30 April 2024 195,915 51,620 247,535
AMORTISATION
At 1 May 2023 125,497 - 125,497
Amortisation for year 18,592 6,599 25,191
Reclassification/transfer - 3,094 3,094
At 30 April 2024 144,089 9,693 153,782
NET BOOK VALUE
At 30 April 2024 51,826 41,927 93,753
At 30 April 2023 60,418 - 60,418

11. TANGIBLE FIXED ASSETS

Group
Long Improvements Plant and
leasehold to property machinery
£ £ £
COST
At 1 May 2023 2,718,616 - 12,927
Additions 27,437 27,290 72,403
Disposals - - (1,155 )
Reclassification/transfer - - -
At 30 April 2024 2,746,053 27,290 84,175
DEPRECIATION
At 1 May 2023 304,901 - 7,203
Charge for year 141,918 4,517 12,489
Eliminated on disposal - - (477 )
Reclassification/transfer - - -
At 30 April 2024 446,819 4,517 19,215
NET BOOK VALUE
At 30 April 2024 2,299,234 22,773 64,960
At 30 April 2023 2,413,715 - 5,724

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. TANGIBLE FIXED ASSETS - continued

Group

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 May 2023 873,556 1,041,195 - 4,646,294
Additions 411,009 159,580 6,350 704,069
Disposals (187,105 ) (185,160 ) - (373,420 )
Reclassification/transfer (37,482 ) - 16,857 (20,625 )
At 30 April 2024 1,059,978 1,015,615 23,207 4,956,318
DEPRECIATION
At 1 May 2023 539,234 775,766 - 1,627,104
Charge for year 59,561 145,351 4,097 367,933
Eliminated on disposal (126,736 ) (192,000 ) - (319,213 )
Reclassification/transfer (5,622 ) - 2,529 (3,093 )
At 30 April 2024 466,437 729,117 6,626 1,672,731
NET BOOK VALUE
At 30 April 2024 593,541 286,498 16,581 3,283,587
At 30 April 2023 334,322 265,429 - 3,019,190

12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£
COST
At 1 May 2023
and 30 April 2024 200
NET BOOK VALUE
At 30 April 2024 200
At 30 April 2023 200

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


12. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

R Owton (Wholesale Butchers) Limited
Registered office: England and Wales
Nature of business: Production of meat and poultry meat products
%
Class of shares: holding
Ordinary 100.00

R Owtons (Wholesale Butchers) Limited registered office address is Unit 17 Chalcroft Business Park, Burnetts Lane, Southampton, United Kingdom, SO30 2PA.

Chalcroft Farm Shop Limited
Registered office: England and Wales
Nature of business: Retail sale of meat and meat products
%
Class of shares: holding
Ordinary 100.00

Chalcroft Farm Shop Limited is an indirect subsidiary of Owtons Holding Limited, registered address is Woodhouse Lane, Botley, Southampton, Hampshire, SO30 2EZ, with the shares being owned 100% by R Owton (Wholesale Butchers) Limited.


13. STOCKS

Group
2024 2023
£ £
Stocks 504,375 498,709
Finished goods 25,500 -
529,875 498,709

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Trade debtors 1,969,370 3,248,904 - -
Amounts owed by group undertakings - - 575,703 192,780
Other debtors 6,387 18,702 - -
Tax 51,550 - - -
VAT 212,747 129,372 - -
Deferred tax asset - - 4,348 -
Prepayments and accrued income 98,235 60,935 - -
2,338,289 3,457,913 580,051 192,780

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£ £ £ £
Bank loans and overdrafts (see note 17) - 30,976 - -
Trade creditors 2,939,814 2,403,615 - -
Tax 5,713 119,084 5,713 5,713
Social security and other taxes 82,023 40,064 2,414 2,415
Other creditors 189,275 49,202 - 16,657
Directors' current accounts 212,606 312,642 - -
Accruals and deferred income 191,215 96,175 30,413 -
3,620,646 3,051,758 38,540 24,785

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£ £
Other creditors 116,832 -

Other creditor liabilities are secured against the assets to which they relate.

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


17. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts - 30,976



18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable
operating leases
2024 2023
£ £
Within one year 270,324 261,411
Between one and five years 1,150,853 1,034,878
In more than five years 3,152,959 3,410,459
4,574,136 4,706,748

The total lease payments relating to rent and equipment hire recognised as an expense in the financial year amounts to £285,333 (2023: £278,922).

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
£ £
Deferred tax 320,987 423,698

Other provisions 200,000 200,000

Aggregate amounts 520,987 623,698

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


19. PROVISIONS FOR LIABILITIES - continued

Group
Deferred Other
tax provisions
£ £
Balance at 1 May 2023 423,698 200,000
Accelerated capital allowances 114,897 -
Corporation tax losses c/fwd (217,608 ) -
Balance at 30 April 2024 320,987 200,000

Company
Deferred tax
£
Corporation tax losses c/fwd (4,348 )
Balance at 30 April 2024 (4,348 )

The other provision above represents the dilapidations and the the estimated cost to the business to return the property to its original state as per the terms of the property agreement.

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
160 Ordinary A Shares of £1 each 1 160 160

Shares rank equally for voting purposes, dividends declared and any distribution made on a winding up of the Company.

21. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 May 2023 4,083,938 40 4,083,978
Deficit for the year (435,643 ) (435,643 )
Dividends (72,000 ) (72,000 )
At 30 April 2024 3,576,295 40 3,576,335

OWTONS HOLDING LIMITED (REGISTERED NUMBER: 11267411)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


21. RESERVES - continued

Company
Capital
Retained redemption
earnings reserve Totals
£ £ £

At 1 May 2023 768,635 40 768,675
Profit for the year 58,955 58,955
Dividends (72,000 ) (72,000 )
At 30 April 2024 755,590 40 755,630

Capital redemption reserve
This reserve records the nominal value of shares repurchased by the company.

Profit and loss account
This reserve records retained earnings and accumulated profits.

22. PENSION COMMITMENTS

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. Pension contributions payable for the year amounted to £75,653 (2023: £71,798). Pension contributions amounting to £16,142 (2023: £1,140) were outstanding at the year end and are included within other creditors.

23. OTHER FINANCIAL COMMITMENTS

As disclosed in note 2, a subsidiary, Chalcroft Farm Shop Limited, has taken advantage of the exemptions under Companies Act 2006 section 479A, and has not been audited.

As part of these exemptions Owtons Holding Limited is required to provide an undertaking to guarantee outstanding liabilities to which the subsidiary is subject to as at 30 April 2024.

24. RELATED PARTY DISCLOSURES

During the year, amounts totalling £200,036 (2023: £13,000) were withdrawn by the Directors. Amounts introduced in the year totalled £100,000 (2023: £323,642). As at 30 April 2024 £212,606 (2023: £312,642) was owed to the Directors.

Key management personnel include all directors and three non-directors. The total compensation paid to key management personnel for services provided to the company was £127,335 (2023: £124,385). There were no outstanding balances due to key management personnel at year end.

25. ULTIMATE CONTROLLING PARTY

In the opinion of the directors, there is no individual controlling party.