IRIS Accounts Production v24.3.2.46 02112285 Board of Directors 1.7.23 30.6.24 30.6.24 false true false false true false Ordinary 1.00000 Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh021122852023-06-30021122852024-06-30021122852023-07-012024-06-30021122852022-06-30021122852022-07-012023-06-30021122852023-06-3002112285ns15:EnglandWales2023-07-012024-06-3002112285ns14:PoundSterling2023-07-012024-06-3002112285ns10:Director12023-07-012024-06-3002112285ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3002112285ns10:SmallEntities2023-07-012024-06-3002112285ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3002112285ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3002112285ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002112285ns10:FullAccounts2023-07-012024-06-3002112285ns10:OrdinaryShareClass12023-07-012024-06-3002112285ns10:Director22023-07-012024-06-3002112285ns10:RegisteredOffice2023-07-012024-06-3002112285ns5:CurrentFinancialInstruments2024-06-3002112285ns5:CurrentFinancialInstruments2023-06-3002112285ns5:Non-currentFinancialInstruments2024-06-3002112285ns5:Non-currentFinancialInstruments2023-06-3002112285ns5:ShareCapital2024-06-3002112285ns5:ShareCapital2023-06-3002112285ns5:RetainedEarningsAccumulatedLosses2024-06-3002112285ns5:RetainedEarningsAccumulatedLosses2023-06-3002112285ns5:ShortLeaseholdAssetsns5:LandBuildings2023-06-3002112285ns5:FurnitureFittings2023-06-3002112285ns5:MotorVehicles2023-06-3002112285ns5:ShortLeaseholdAssetsns5:LandBuildings2023-07-012024-06-3002112285ns5:FurnitureFittings2023-07-012024-06-3002112285ns5:MotorVehicles2023-07-012024-06-3002112285ns5:ShortLeaseholdAssetsns5:LandBuildings2024-06-3002112285ns5:FurnitureFittings2024-06-3002112285ns5:MotorVehicles2024-06-3002112285ns5:ShortLeaseholdAssetsns5:LandBuildings2023-06-3002112285ns5:FurnitureFittings2023-06-3002112285ns5:MotorVehicles2023-06-3002112285ns5:CostValuation2023-06-3002112285ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3002112285ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3002112285ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-06-3002112285ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3002112285ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-06-3002112285ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3002112285ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-06-3002112285ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-06-3002112285ns5:HirePurchaseContracts2024-06-3002112285ns5:HirePurchaseContracts2023-06-3002112285ns5:WithinOneYear2024-06-3002112285ns5:WithinOneYear2023-06-3002112285ns5:BetweenOneFiveYears2024-06-3002112285ns5:BetweenOneFiveYears2023-06-3002112285ns5:AllPeriods2024-06-3002112285ns5:AllPeriods2023-06-3002112285ns5:Secured2024-06-3002112285ns5:Secured2023-06-3002112285ns10:OrdinaryShareClass12024-06-30021122851ns10:Director12023-06-30021122851ns10:Director12022-06-30021122851ns10:Director12023-07-012024-06-30021122851ns10:Director12022-07-012023-06-30021122851ns10:Director12024-06-30021122851ns10:Director12023-06-30
REGISTERED NUMBER: 02112285 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

SOUTH EASTERN FOODS LIMITED

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SOUTH EASTERN FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr G R Linkins
Mr C G Linkins





REGISTERED OFFICE: c/o Bradleys
Wotton Road
Ashford
Kent
TN23 6LL





REGISTERED NUMBER: 02112285 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 866,607 951,745
Investments 5 7,500 7,500
874,107 959,245

CURRENT ASSETS
Stocks 468,673 542,354
Debtors 6 1,921,842 1,966,635
Cash at bank and in hand 840,314 515,681
3,230,829 3,024,670
CREDITORS
Amounts falling due within one year 7 1,303,392 1,443,377
NET CURRENT ASSETS 1,927,437 1,581,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,801,544

2,540,538

CREDITORS
Amounts falling due after more than one
year

8

(16,049

)

(78,083

)

PROVISIONS FOR LIABILITIES (195,015 ) (165,672 )
NET ASSETS 2,590,480 2,296,783

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 2,589,480 2,295,783
SHAREHOLDERS' FUNDS 2,590,480 2,296,783

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

BALANCE SHEET - continued
30 JUNE 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:





Mr G R Linkins - Director


SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

South Eastern Foods 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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
Tangible fixed assets are stated at cost less depreciation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold - 40% on reducing balance
Fixtures and fittings - 10% and 20% on cost
Motor vehicles - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

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


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 31 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£ £ £ £
COST
At 1 July 2023 461,821 889,064 339,899 1,690,784
Additions - - 54,784 54,784
Disposals - - (42,720 ) (42,720 )
At 30 June 2024 461,821 889,064 351,963 1,702,848
DEPRECIATION
At 1 July 2023 249,857 255,867 233,315 739,039
Charge for year 6,751 78,947 50,121 135,819
Eliminated on disposal - - (38,617 ) (38,617 )
At 30 June 2024 256,608 334,814 244,819 836,241
NET BOOK VALUE
At 30 June 2024 205,213 554,250 107,144 866,607
At 30 June 2023 211,964 633,197 106,584 951,745

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

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


4. TANGIBLE FIXED ASSETS - continued

The net book value of tangible fixed assets includes £ 16,100 (2023 - £ 18,400 ) in respect of assets held under hire purchase contracts.

5. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 July 2023
and 30 June 2024 7,500
NET BOOK VALUE
At 30 June 2024 7,500
At 30 June 2023 7,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 750,572 672,194
Amounts owed by group undertakings - 87,889
Other debtors 1,025,918 761,082
Directors' current accounts - 300,000
VAT 27,852 52,191
Prepayments and accrued income 117,500 93,279
1,921,842 1,966,635

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 55,556 55,556
Hire purchase contracts (see note 9) 6,480 6,480
Trade creditors 847,761 1,090,974
Amounts owed to group undertakings 121,207 132,290
Tax 262,829 97,093
Social security and other taxes - 4,355
Other creditors 159 -
Accruals and deferred income 9,400 56,629
1,303,392 1,443,377

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 13,889 69,444
Hire purchase contracts (see note 9) 2,160 8,639
16,049 78,083

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

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


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 6,480 6,480
Between one and five years 2,160 8,639
8,640 15,119

Non-cancellable
operating leases
2024 2023
£ £
Within one year 85,784 158,343
Between one and five years 136,004 214,873
221,788 373,216

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 69,445 125,000
Hire purchase contracts 8,640 15,119
78,085 140,119

The bank loan is secured by a fixed and floating charge over the assets of the company. The hire purchase contracts are secured over the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary £1 1,000 1,000

12. OTHER FINANCIAL COMMITMENTS

The company has entered into a multi-lateral guarantee with it's parent company and a fellow subsidiaries in favour of Barclays Bank Plc.

At 30 June 2024, a mortgage facility totalling £161,266 (2023 - £191,208) was being used by the fellow subsidiaries.

SOUTH EASTERN FOODS LIMITED (REGISTERED NUMBER: 02112285)

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


13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£ £
Mr G R Linkins
Balance outstanding at start of year 300,000 -
Amounts advanced - 300,000
Amounts repaid (300,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 300,000

The loan was interest free and repayable on demand.