Caseware UK (AP4) 2023.0.135 2023.0.135 All amounts relate to continuing operations. There was no other comprehensive income for 2024 (2023:£NIL).The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": - the requirements of Section 7 Statement of Cash Flows; - the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d). This information is included in the consolidated financial statements of Annagh Properties Limited as at 30 June 2024 and these financial statements may be obtained from Companies House. The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied: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. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.3113792023-07-01falsefalsefalse NI690918 2023-07-01 2024-06-30 NI690918 2022-09-06 2023-06-30 NI690918 2024-06-30 NI690918 2023-06-30 NI690918 1 2023-07-01 2024-06-30 NI690918 d:CompanySecretary1 2023-07-01 2024-06-30 NI690918 d:Director1 2023-07-01 2024-06-30 NI690918 d:RegisteredOffice 2023-07-01 2024-06-30 NI690918 d:Agent1 2023-07-01 2024-06-30 NI690918 c:Buildings 2023-07-01 2024-06-30 NI690918 c:Buildings 2024-06-30 NI690918 c:Buildings 2023-06-30 NI690918 c:Buildings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI690918 c:PlantMachinery 2023-07-01 2024-06-30 NI690918 c:PlantMachinery 2024-06-30 NI690918 c:PlantMachinery 2023-06-30 NI690918 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI690918 c:FurnitureFittings 2023-07-01 2024-06-30 NI690918 c:FurnitureFittings 2024-06-30 NI690918 c:FurnitureFittings 2023-06-30 NI690918 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI690918 c:OfficeEquipment 2023-07-01 2024-06-30 NI690918 c:OfficeEquipment 2024-06-30 NI690918 c:OfficeEquipment 2023-06-30 NI690918 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI690918 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI690918 c:CurrentFinancialInstruments 2024-06-30 NI690918 c:CurrentFinancialInstruments 2023-06-30 NI690918 c:Non-currentFinancialInstruments 2024-06-30 NI690918 c:Non-currentFinancialInstruments 2023-06-30 NI690918 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 NI690918 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 NI690918 c:Non-currentFinancialInstruments c:AfterOneYear 2024-06-30 NI690918 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 NI690918 c:ReportableOperatingSegment1 2023-07-01 2024-06-30 NI690918 c:ReportableOperatingSegment1 2022-09-06 2023-06-30 NI690918 c:ReportableOperatingSegment7 2023-07-01 2024-06-30 NI690918 c:ReportableOperatingSegment7 2022-09-06 2023-06-30 NI690918 e:UnitedKingdom 2023-07-01 2024-06-30 NI690918 e:UnitedKingdom 2022-09-06 2023-06-30 NI690918 e:RestWorldOutsideUK 2023-07-01 2024-06-30 NI690918 e:RestWorldOutsideUK 2022-09-06 2023-06-30 NI690918 c:UKTax 2023-07-01 2024-06-30 NI690918 c:UKTax 2022-09-06 2023-06-30 NI690918 c:ShareCapital 2023-07-01 2024-06-30 NI690918 c:ShareCapital 2024-06-30 NI690918 c:ShareCapital 2022-09-06 2023-06-30 NI690918 c:ShareCapital 2023-06-30 NI690918 c:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 NI690918 c:RetainedEarningsAccumulatedLosses 2024-06-30 NI690918 c:RetainedEarningsAccumulatedLosses 2022-09-06 2023-06-30 NI690918 c:RetainedEarningsAccumulatedLosses 2023-06-30 NI690918 c:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI690918 c:AcceleratedTaxDepreciationDeferredTax 2023-06-30 NI690918 d:OrdinaryShareClass1 2023-07-01 2024-06-30 NI690918 d:OrdinaryShareClass1 2024-06-30 NI690918 d:OrdinaryShareClass1 2023-06-30 NI690918 d:FRS102 2023-07-01 2024-06-30 NI690918 d:Audited 2023-07-01 2024-06-30 NI690918 d:FullAccounts 2023-07-01 2024-06-30 NI690918 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI690918 2 2023-07-01 2024-06-30 NI690918 f:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Financial Statements
Crust & Crumb Breads Limited
For the period from date of incorporation to 30 June 2024





































Registered number: NI690918

 
Crust & Crumb Breads Limited
 

Company Information


Director
Mary McCaffrey 




Company secretary
Mary McCaffrey



Registered number
NI690918



Registered office
37 Main Street
Derrylin

Enniskillen

Fermanagh

BT92 9JZ




Independent auditors
Grant Thornton (NI) LLP
Chartered Accountants & Statutory Auditors

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
Danske Bank
24 Townhall Street

Enniskillen

Co. Fermanagh

BT74 7BB




Solicitors
Edward & Co Solicitor
28 Hill Street

Belfast

Co. Antrim

BT1 2LA





 
Crust & Crumb Breads Limited
 

Contents



Page
Strategic report
1 - 2
Director's report
3 - 6
Independent auditors' report
7 - 10
Statement of comprehensive income
11
Statement of financial position
12
Statement of changes in equity
13
Analysis of net debt
14
Notes to the financial statements
15 - 29


 
Crust & Crumb Breads Limited
 

Strategic report
For the period ended 30 June 2024

Introduction
 
The directors present their report and the financial statements for the period ended 30 June 2024.

Principal activity and business review
 
The principal activity of the Company is the manufacture of chilled and frozen breads.  The Company reported a pre-tax profit of £4,800,700 (2023: £2,948,937) on turnover of £54,807,354 (2023: £37,072,437). Long term growth prospects are also strong as the Company is committed to retaining high quality employees and is well positioned to benefit from an economic recovery thanks to continued investment, expenditure on research and development and a continuing commitment to excellence.

Principal risks and uncertainties
 
Foreign exchange risk
The Company undertakes some transactions in foreign currencies, particularly euros. No hedging against the foreign exchange rate fluctuations exists. 
Economic risk
The risk of increased interest rates and/or inflation and fluctuations in exchange rates may have an adverse impact on served markets.
Interest rate risk 
The Company manages its exposure to interest rate risk by maintaining an appropriate balance of fixed and variable
rate debt. 
Liquidity risk
The Company maintains adequate bank facilities to ensure sufficient short term finance for continuing operations.
Credit risk
Risk of credit control is currently being managed by carrying out credit checks to effectively manage the exposure to credit risk.

Financial key performance indicators
 
The directors consider that the following key performance indicators are the most effective measures to evaluate the performance of the business: Turnover £54,807,354 (2023: £37,072,437), Gross profit margin 23% (202324%), Profit before tax £4,800,700 (2023: £2,948,937) and employee numbers 379 (2023311).

Page 1

 
Crust & Crumb Breads Limited
 

Strategic report (continued)
For the period ended 30 June 2024

Director's statement of compliance with duty to promote the success of the Company
 
From the perspective of the Directors, the matters for consideration under section 172 of the Companies Act 2006 (“s172”) have been considered to an appropriate extent by the Company. Such consideration is included in the statements set out below, noting the Directors’ duty under s172 to act in good faith to promote the success of the Company for the benefit of its shareholders but having regard amongst other matters to the following:

the likely consequences of any decision in the long term; 
the interests of the Company’s employees; 
the need to foster the Company’s business relationships with customers and others; 
the impact of the Company’s operations on the community and the environment; 
the desirability of the Company maintaining a reputation for high standards of business conduct; and 
the need to act fairly as between members of the Company. 

For the Company, compliance is one of the cornerstone values and forms the basis for all decisions and activities. It is the key to integrity in conducting business. The Directors are committed to ensuring that all business is carried out in full accordance with the law as well as internal rules and principles.
The Board of Directors of the Company, both individually and together, confirmed that they have acted in the way they consider, in good faith, would be most likely to promote success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in Section 172(1) (a-f) of the Act) in the decisions taken during the year ended 30 April 2024. The following paragraphs summarise how the directors fulfil their duties:

As the Board of Directors, our intention is to behave responsibly and ensure that management operate the business in a responsible manner.
As the Board of Directors, we are committed to openly engage with our shareholders. It is important to us that shareholders understand our strategy and objectives, so these must be clearly communicated, feedback heard and issues or questions raised properly considered.
As our services provided grow, our risk environment also becomes more complex. It is therefore, important that we effectively identify, evaluate, manage and mitigate the risks the Company faces. For details of our principal risks and uncertainties, please see previous paragraphs of our company strategic report.
Our employees are vital to the services provided by the Company. We aim to be a responsible employer in our approach to the pay and benefits for our employees. For our business to succeed, we need to manage our employees’ performance and develop talent while ensuring the company operates as efficiently as possible. The health and safety of our employees is very important to us.
In order to grow our business, we need to develop and maintain strong business relationships. We value all of our suppliers and customers.


This report was approved by the board and signed on its behalf.



................................................
Mary McCaffrey
Director

Date: 26 March 2025

Page 2

 
Crust & Crumb Breads Limited
 
 
Director's report
For the period ended 30 June 2024

The director presents his report and the financial statements for the period ended 30 June 2024.

Director's responsibilities statement

The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

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

Principal activity

The principal activity of the Company is the manufacture of chilled and frozen breads. 
The directors do not recommend a dividend. 

Results and dividends

The director did not recommend the payment of a dividend (2023: £Nil).

The profit for the period, after taxation, amounted to £3,559,016 (2023 - £2,317,536).

Director

The director who served during the period and his interest in the Company's issued share capital was:

Ordinary shares
of £1 each

30/6/24

1/7/23


Mary McCaffrey 
100
100


Page 3

 
Crust & Crumb Breads Limited
 

Director's report (continued)
For the period ended 30 June 2024

Future developments

The Directors consider the results for the year and the position of the company at the year end to be satisfactory. The Company continues to explore opportunities to increase turnover. The Directors are committed to long term shareholder value through increased market share. The business has progressed satisfactorily during the year and remains in a strong financial position at the year end. The Directors anticipate satisfactory progress in the coming year and are confident that the company will continue to generate significant shareholder value. 

Engagement with suppliers, customers and others

Our strategy prioritises growth and expansion of services. We continue to target new customers into the Company. To do this, we have developed and nurtured strong customer relationships.
We value all of our supplers and have multi-year contracts in place with a number of our key suppliers.

Disabled employees

The Company gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the Company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training and career development and promotion to disabled employees wherever appropriate.

Branches outside the United Kingdom

The Company does not operate any branches outside of the United Kingdom.

Page 4

 
Crust & Crumb Breads Limited
 

Director's report (continued)
For the period ended 30 June 2024

Greenhouse gas emissions, energy consumption and energy efficiency action

                                                                                                                                2024                    2024
                                                                                                                               tCO2                   kWH
Direct Emissions
Combustion of gas and use of fuel for transport                                                        2,936.23               2,936,231
Indirect Emissions
Purchase of electricity                                                                                             2,599.70               2,599,704
                                                                                                                        
    tCO2/£m sales
Sales intensity ratio
Combustion of gas and use of fuel for transport                                                       0.000054
Purchase of electricity                                                                                            0.000047

Intensity measurement
We have chosen the metric gross global scope 1 and 2 emissions in tonnes of CO2e per £m sales revenue as this is a common business metric for our industry sector.
Energy efficient action
The company has set targets, increased awareness and are actively involving staff in reducing energy consumption through training and engagement.
Methodologies used
We have followed the 2023 UK government environmental reporting guidance and we have used 2023 UK Government's GHG conversion factors for company reporting. We engaged with our suppliers to obtain actual usage information across the company.
We have availed of the exemption permitting non-disclosure of comparative information in the first year of
reporting due to the unavailability of relevant data.


Matters covered in the Strategic report

Under Schedule 7.1A of 'Large and Medium-Sized Companies and Groups (Accounting and Reporting) Regulations 2008', the Company has elected to disclose the following directors' report information in the Strategic Report:
Principal activity and business review;
Principal risks and uncertainites;
Financial key performance indicators; and
S172 Reporting.

Page 5

 
Crust & Crumb Breads Limited
 

Director's report (continued)
For the period ended 30 June 2024


Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:
 
so far as  is aware, there is no relevant audit information of which the Company's auditors are unaware, and

 has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Company since the financial year end.

Auditors

The auditorsGrant Thornton (NI) LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
Mary McCaffrey
Director

Date: 26 March 2025

Page 6

 
 
img2737.png
 
Independent auditors' report to the members of Crust & Crumb Breads Limited
 

Opinion


We have audited the financial statements of Crust & Crumb Breads Limited, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity for the period ended 30 June 2024, and the related 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, Crust & Crumb Breads Limited's financial statements:


give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice of the assets, liabilities and financial position of the Company as at 30 June 2024 and of its financial performance for the period then ended; 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 'Responsibilities of the auditor for the audit of the financial statements' section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, namely the FRC's Ethical Standard and the ethical pronouncements established by Chartered Accountants Ireland, applied as determined to be appropriate in the circumstances of the entity. 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 director's 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 Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.

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



Page 7

 
 
img751b.png

Independent auditors' report to the members of Crust & Crumb Breads Limited (continued)


Other information


Other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' report thereon, including the Director's report and the Strategic Report. The director are responsible for the other information. Our opinion on the financial statements does not cover the 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 statementsour 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 in the financial statements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.


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 Director's report and the Strategic Report for the period for which the financial statements are prepared is consistent with the financial statements, and 
the Director's report and the Strategic Report 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 company and its environment we have obtained in the course of the audit, we have not identified material misstatements in the  Director's report and the Strategic Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of director's remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Page 8

 
 
img1404.png

Independent auditors' report to the members of Crust & Crumb Breads Limited (continued)


Responsibilities of management and those charged with governance for the financial statements
 

Management is responsible for the preparation of the financial statements which give a true and fair view in accordance with United Kingdom Generally Accepted Accounting Practice, including FRS102 and for such internal control as the director determine is 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, management is responsible for assessing the 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 management either intend to liquidate the Company or to cease operations, or has no realistic alternative but to do so.


Those charged with governance are responsible for overseeing the Company's financial reporting process.

Responsibilities of the auditor for the audit of the financial statements
 

The objectives of an auditor 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 an Auditors' report that includes their 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.

A further description of an auditor's 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 auditor's report.

Explanation as to what extent the audit was considered 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. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatement in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with ISAs (UK).

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations to Data Privacy Law, Employment Law, Environmental Regulations and Health and Safety Laws, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as Companies Act 2006 and compliance with tax laws. The Audit engagement partner considered the experience and expertise of the engagement team to ensure that the team had appropriate competence and capabilities to identify or recognise non-compliance with the laws and regulation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journals entries to manipulate financial performance and management bias through judgements and assumptions in significant accounting estimates, in particular in relation to significant one-off unusual transactions. 

Page 9

 
 
img757b.png

Independent auditors' report to the members of Crust & Crumb Breads Limited (continued)

We apply professional scepticism throughout the audit to consider potential deliberate omission or concealment of
significant transactions, or incomplete/ inaccurate disclosures in the financial statements.
In response to these principal risks, our audit procedures included but were not limited to:

inquiries of management on the policies and procedures in place regarding compliance with laws and regulations, including consideration of known or suspected instances of non-compliance and whether they have knowledge of any actual, suspected or alleged fraud;
inspection of the Company's regulatory and legal correspondence and review of minutes of the board of directors meetings during the year to corroborate inquiries made;
gaining an understanding of the internal controls established to mitigate risk related to fraud;
discussion amongst the engagement team in relation to the identified laws and regulations and regarding the manipulation of financial statements throughout the audit;
identifying and testing journal entries to address the risk of inappropriate journals and management override of controls;
designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing;
challenging assumptions and judgements made by management in their significant accounting estimates, including estimating an allowance for the impairment of debtors and stock and estimating the useful economic lives of tangible assets and goodwill; and
review of the financial statement disclosures to underlying supporting documentation and inquiries of management.

The primary responsibility for the prevention and detection of irregularities including fraud rests with those charged with governance and management. As with any audit, there remains a risk of non-detection or irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations or override of internal controls.


The purpose of our audit work and to whom we owe our responsibilities
 

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 an auditor’s report 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.



 
 
Louise Kelly FCA (Senior statutory auditor)
for and on behalf of
Grant Thornton (NI) LLP
Chartered Accountants &
Statutory Auditors
Belfast 
26 March 2025
Page 10

 
Crust & Crumb Breads Limited
 

Statement of comprehensive income
For the period ended 30 June 2024

2024
Period ended 30 June 2023
Note
£
£

  

Turnover
 4 
54,807,354
37,072,437

Cost of sales
  
(42,101,636)
(28,309,597)

Gross profit
  
12,705,718
8,762,840

Administrative expenses
  
(7,756,606)
(5,812,474)

Other operating income
  
2,424
-

Operating profit
 6 
4,951,536
2,950,366

Interest receivable and similar income
 9 
1,534
158

Interest payable and similar expenses
 10 
(152,370)
(1,587)

Profit before tax
  
4,800,700
2,948,937

Tax on profit
 11 
(1,241,684)
(631,401)

Profit for the financial year/period
  
3,559,016
2,317,536

All amounts relate to continuing operations.

There was no other comprehensive income for 2024 (2023:£NIL).

The notes on pages 15 to 29 form part of these financial statements.

Page 11

 
Crust & Crumb Breads Limited
Registered number:NI690918

Statement of financial position
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 12 
1,144,845
777,135

  
1,144,845
777,135

Current assets
  

Stocks
 13 
1,234,138
1,628,965

Debtors: amounts falling due within one year
 14 
11,754,332
5,946,817

Cash at bank and in hand
 15 
804,182
1,182,167

  
13,792,652
8,757,949

Current liabilities
  

Creditors: amounts falling due within one year
 16 
(8,928,842)
(7,132,935)

Net current assets
  
 
 
4,863,810
 
 
1,625,014

Total assets less current liabilities
  
6,008,655
2,402,149

Creditors: amounts falling due after more than one year
 17 
-
(11,693)

Provisions for liabilities
  

Deferred tax
  
(132,003)
(72,820)

  
 
 
(132,003)
 
 
(72,820)

Net assets
  
5,876,652
2,317,636


Capital and reserves
  

Called up share capital 
 19 
100
100

Profit and loss account
 20 
5,876,552
2,317,536

Shareholders' funds
  
5,876,652
2,317,636


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2025.




................................................
Mary McCaffrey
Director

The notes on pages 15 to 29 form part of these financial statements.

Page 12

 
Crust & Crumb Breads Limited
 

Statement of changes in equity
For the period ended 30 June 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2023
100
2,317,536
2,317,636



Profit for the period
-
3,559,016
3,559,016


At 30 June 2024
100
5,876,552
5,876,652



Statement of changes in equity
For the period ended 30 June 2023


Called up share capital
Profit and loss account
Total equity

£
£
£



Profit for the period
-
2,317,536
2,317,536

Shares issued during the period
100
-
100


At 30 June 2023
100
2,317,536
2,317,636


The notes on pages 15 to 29 form part of these financial statements.

Page 13

 
Crust & Crumb Breads Limited
 

Analysis of Net Debt
For the period ended 30 June 2024




At 1 July 2023
Cash flows
At 30 June 2024
£

£

£

Cash at bank and in hand

1,182,167

(377,985)

804,182

Finance leases

(39,753)

28,061

(11,692)


1,142,414
(349,924)
792,490

The notes on pages 15 to 29 form part of these financial statements.

Page 14

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

1.


General information

Crust & Crumb Breads Limited is a private Company limited by shares, registers in Northern Ireland. The address of the registered office is 37 Main Street Derrylin, Enniskillen, Fermanagh, BT92 9JZ.
The principal activity of the Company is the manufacture of chilled and frozen breads. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

 Financial reporting standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland": 
- the requirements of Section 7 Statement of Cash Flows; 
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d).
This information is included in the consolidated financial statements of Annagh Properties Limited as at
30 June 2024 and these financial statements may be obtained from Companies House.

 
2.3

Going concern

After reviewing the Company's forecast and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing the financial statements.

Page 15

 
Crust & Crumb Breads Limited
 

Notes to the financial statements
For the period ended 30 June 2024

2.Accounting policies (continued)

 
2.4

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company 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 Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 16

 
Crust & Crumb Breads Limited
 

Notes to the financial statements
For the period ended 30 June 2024

2.Accounting policies (continued)

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.8

Interest income

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

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.10

 Negative goodwill

Where the fair value exceeds the cost of the assets and liabilities acquired, negative goodwill arises. Negative goodwill is recognised on the balance sheet and released to the profit and loss, up to the fair value of non-monetary assets acquired, over the periods in which the non-monetary assets are recovered and any excess over the fair value of non-monetary assets in the income statement over the period expected to benefit.

 
2.11

 Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 17

 
Crust & Crumb Breads Limited
 

Notes to the financial statements
For the period ended 30 June 2024

2.Accounting policies (continued)

  
2.12

 Impairment of fixed assets

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.13

 Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.14

 Tangible fixed assets

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.

Page 18

 
Crust & Crumb Breads Limited
 

Notes to the financial statements
For the period ended 30 June 2024

2.Accounting policies (continued)


2.14
 Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
4%
Plant and machinery
-
15%
Fixtures and fittings
-
20%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.15

 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. 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 profit or loss.

 
2.16

 Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.17

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.18

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, inclusive of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 19

 
Crust & Crumb Breads Limited
 

Notes to the financial statements
For the period ended 30 June 2024

2.Accounting policies (continued)

 
2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.20

 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 non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Investments in non-convertible preference shares and in non-puttable ordinary and preference shares are measured:
at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably; 
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost 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 Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.

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

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an 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.

Page 20

 
Crust & Crumb Breads Limited
 

Notes to the financial statements
For the period ended 30 June 2024

2.Accounting policies (continued)


2.20
 Financial instruments (continued)

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Allowance for impairment of trade debtors 
The Company estimates the allowance for doubtful debtors based on the assessment of specific accounts  where the Company has objective evidence comprising of default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgement used was based on the best available facts and circumstances including but not limited to, the length of relationship. 
 
Allowances for impairment in the value of stock 
Management estimates the net realisable values of stocks, taking into account the most reliable evidence available at each reporting date. The future realisation of these inventories may be affected by future  technology or other market-driven changes that may reduce future selling prices.
 
Estimating useful lives of tangible fixed assets
The Company estimates the useful lives of tangible fixed assets based on the period over which the assets are expected to be available for use. The estimated useful lives are reviewed periodically and are updated if expectations differ from previous estimates due to physical wear and tear, technical or commercial obsolescence and legal or other limits on the use of those assets.

Page 21

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

4.


Turnover

An analysis of turnover by class of business is as follows:


2024
Period ended  30 June 2023
£
£

Sales
41,796,352
27,196,212

Intercompany sales
13,011,002
9,876,225

54,807,354
37,072,437


Analysis of turnover by country of destination:

2024
2023
£
£

United Kingdom
46,176,035
31,558,759

Rest of the world
8,631,319
5,513,678

54,807,354
37,072,437



5.


Other operating income

2024
Period ended 30 June 2023
£
£

Government grants receivable
2,424
-

2,424
-



6.


Operating profit

The operating profit is stated after charging:

2024
Period ended 30 June 2023
£
£

Depreciation of tangible fixed assets
151,287
377,928

Exchange differences
(13,007)
(38,840)

Amortisation of goodwill
-
(437,882)

Fees payable to the company's auditors for the audit of the company
19,000
16,500

Fees payable to the company's auditors for other services
1,350
2,500

Page 22

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

7.


Employees

Staff costs were as follows:


2024
Period ended 30 June 2023
£
£

Wages and salaries
11,350,919
7,546,282

Social security costs
1,010,920
548,255

Cost of defined contribution scheme
205,039
123,771

12,566,878
8,218,308


The average monthly number of employees, including the director, during the period was as follows:


        2024
Period ended 30 June 2023
            No.
            No.







Production staff
365
297



Distribution staff
11
12



Administration staff
3
2

379
311


8.


Director's remuneration

The directors received no remuneration from the Company during the year (2023: £Nil).





9.


Interest receivable

2024
Period ended 30 June 2023
£
£


Other interest receivable
1,534
158

1,534
158

Page 23

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

10.


Interest payable and similar expenses

2024
Period ended 30 June 2023
£
£


Finance leases and hire purchase contracts
2,549
1,587

Other interest payable
149,821
-

152,370
1,587


11.


Taxation


2024
Period ended 30 June 2023
£
£

Corporation tax


Current tax on profits for the year
1,182,501
558,581


1,182,501
558,581


Total current tax
1,182,501
558,581

Deferred tax


Origination and reversal of timing differences
59,183
72,820

Total deferred tax
59,183
72,820


Tax on profit
1,241,684
631,401
Page 24

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024
 
11.Taxation (continued)


Factors affecting tax charge for the period

The tax assessed for the period is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 21%). The differences are explained below:

2024
Period ended 30 June 2023
£
£


Profit on ordinary activities before tax
4,800,700
2,948,937


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 21%)
1,200,175
619,277

Effects of:


Fixed asset differences
18,700
473

Expenses not deductible for tax purposes
22,809
-

Remeasurement of deferred tax for changes in tax rates
-
11,651

Total tax charge for the period
1,241,684
631,401


Factors that may affect future tax charges

The standard rate of UK Corporation Tax from 1 April 2023 has increased to 25% for companies generating taxable profits of more than £250,000. The previous 19% tax rate will continue to apply to 'small' companies with profits less than £50,000, with a 'taper relief rate' for those companies with profits between the new thresholds. Deferred tax assets and liabilities have been recognised using the tax rates applicable for the date the assets and liabilities are expected to reverse.

Page 25

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

12.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2023
218,264
394,453
61,368
162,753
836,838


Additions
82,575
379,542
34,505
22,375
518,997



At 30 June 2024

300,839
773,995
95,873
185,128
1,355,835



Depreciation


At 1 July 2023
2,250
33,289
3,450
20,714
59,703


Charge for the period
11,460
89,662
17,655
32,510
151,287



At 30 June 2024

13,710
122,951
21,105
53,224
210,990



Net book value



At 30 June 2024
287,129
651,044
74,768
131,904
1,144,845



At 30 June 2023
216,014
361,164
57,918
142,039
777,135


13.


Stocks

2024
2023
£
£

Raw materials and consumables
746,674
1,087,555

Finished goods and goods for resale
487,464
541,410

1,234,138
1,628,965


The replacement value of stock is not materially different from the disclosed amounts.

Page 26

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

14.


Debtors

2024
2023
£
£


Trade debtors
3,420,510
3,520,060

Amounts owed by group undertakings
7,946,441
1,972,287

Other debtors
168,399
350,157

Prepayments and accrued income
218,982
104,313

11,754,332
5,946,817


Amounts owed by group undertaking are unsecured, interest free and repayable on demand


15.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
804,182
1,182,167



16.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,110,848
4,611,381

Amounts owed to group undertakings
186,960
60,376

Corporation tax
1,741,081
558,581

Other taxation and social security
422,285
405,572

Obligations under finance lease and hire purchase contracts
11,692
28,060

Other creditors
51,285
58,813

Accruals and deferred income
1,404,691
1,410,152

8,928,842
7,132,935


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


17.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
11,693


Page 27

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

18.


Deferred taxation




2024


£






At beginning of year
(72,820)


Charged to profit or loss
(59,183)



At end of year
(132,003)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(132,003)
(72,820)

(132,003)
(72,820)


19.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



20.


Reserves

Called up share capital

This represents the nominal value of shares that have been issued.

Profit and loss account

This reserve contains all current retained profits and losses.


21.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge of £205,039 (2023: £123,771) represents contributions payable by the Company to the fund. Contributions totalling £50,793 (2023: £57,963) were payable to the fund at the reporting date.

Page 28

 
Crust & Crumb Breads Limited
 
 
Notes to the financial statements
For the period ended 30 June 2024

22.


Related party transactions

The Company has availed of the exemptions in FRS102 Section 33, Paragraph 33.1A which allows non disclosure of transactions between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.


23.


Post balance sheet events

There have been no significant events affecting the Company since the financial year end.


24.


Controlling party

The Company is a wholly owned subsidiary of Crust & Crumb Bakery Limited, a company incorporated in Northern Ireland. The ultimate parent company is Annagh Properties Ltd, a company incorporated in Northern Ireland.
Annagh Properties Ltd is both the smallest and largest group to prepare consolidated financial statements which are publically available that include the results of Crust & Crumb Breads Limited. The consolidated financial statements of Annagh Properties Ltd are available to the public and may be obtained from the reigistar at Companies House, Second Floor The Linenhall, 32-38 Linenhall St, Belfast BT2 8BG, United Kingdom.
The ultimate controlling party is Mrs Mary McCaffrey by virtue of her shareholding in Annagh Properties Ltd.


Page 29