Holmes Halls (Processors) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04206555 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HOLMES HALLS (PROCESSORS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

H Johnson

S Breen

P M Walsh

B Finco

REGISTERED OFFICE:

Sculcoates Tannery

Sculcoates

Hull

East Yorkshire

HU5 1RL

REGISTERED NUMBER:

04206555 (England and Wales)

AUDITORS:

Brosnans

Chartered Accountants

and Statutory Auditors

Birkby House

Bailiff Bridge

Brighouse

West Yorkshire

HD6 4JJ

FIXED ASSETS

Tangible assets

4

6,157,952

6,317,976

CURRENT ASSETS

Stocks

654,541

618,918

Debtors

5

1,650,778

1,713,913

Cash at bank and in hand

409,385

891,301

2,714,704

3,224,132

CREDITORS

Amounts falling due within one year

6

(1,007,377

)

(1,354,214

)

NET CURRENT ASSETS

1,707,327

1,869,918

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,865,279

8,187,894

CREDITORS

Amounts falling due after more than
one year

7

(4,181,528

)

(4,711,699

)

NET ASSETS

3,683,751

3,476,195

CAPITAL AND RESERVES

Called up share capital

10

2,500,000

Share premium

250,000

Capital redemption reserve

100,000

Fair value reserve

11

649,031

Retained earnings

184,720

(22,836

)

SHAREHOLDERS' FUNDS

3,683,751

3,476,195

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 Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:

H Johnson - Director

1.	STATUTORY INFORMATION

Holmes Halls (Processors) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 as modified by the revaluation of certain assets.

The company has extended the accounting period to 31 December 2021 in order to align with the accounting period of other group components.

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

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and at varying rates on cost

Land and buildings were valued on 16 November 2022. The valuation was undertaken by Scotts Property LLP Chartered Surveyors at market value.

STOCKS

Stocks are valued at the lower of average cost and estimated net realisable value. Cost comprises direct materials and labour costs together with the relevant factory overheads on the basis of normal activity levels.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 balance sheet date.

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.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 company contributes to personal pension schemes individual to the employees and the pension charge represents the amount payable by the company to these schemes in respect of the year. Pension contributions outstanding at the year end were £nil (2023 - £nil).

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 47 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2024

1,879,917

7,202,359

9,082,276

Additions

-

384,490

Disposals

-

(15,500

)

(15,500

)

At 31 December 2024

1,879,917

7,571,349

9,451,266

DEPRECIATION

At 1 January 2024

19,373

2,744,927

2,764,300

Charge for year

19,961

524,553

544,514

Eliminated on disposal

-

(15,500

)

(15,500

)

At 31 December 2024

39,334

3,253,980

3,293,314

NET BOOK VALUE

At 31 December 2024

1,840,583

4,317,369

6,157,952

At 31 December 2023

1,860,544

4,457,432

6,317,976

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2022

1,703,570

-

1,703,570

Valuation in 2023

176,347

7,202,359

7,378,706

Valuation in 2024

-

368,990

1,879,917

7,571,349

9,451,266

If Freehold Property had not been revalued it would have been included at the following historical cost:

2024

2023

£

Cost

1,155,489

Aggregate depreciation

121,466

109,423

Value of land in freehold land and buildings

1,046,066

Freehold property was valued on an open market basis on 16 November 2022 by Scotts Property LLP .

The net book value of assets held under Hire Purchase contracts was £55,358 (2023 - £20,508).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

800,491

1,008,173

Other debtors

850,287

705,740

1,650,778

1,713,913

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts (see note 8)

16,313

5,469

Trade creditors

688,557

684,286

Taxation and social security

146,618

242,914

Other creditors

155,889

421,545

1,007,377

1,354,214

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Hire purchase contracts (see note 8)

32,868

15,039

Other creditors

4,148,660

4,696,660

4,181,528

4,711,699

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2024

2023

£

Net obligations repayable:

Within one year

16,313

5,469

Between one and five years

32,868

15,039

49,181

20,508

Non-cancellable

operating leases

2024

2023

£

Within one year

56,391

Between one and five years

67,003

123,384

123,394

179,775

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Hire purchase contracts

49,181

20,508

Hire purchase creditors of £49,1841 (2023 - £20,508) are secured by the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

500,000

Ordinary

1

2,500,000

11.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

649,031

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam John Brosnan (Senior Statutory Auditor)

for and on behalf of Brosnans

13.	CAPITAL COMMITMENTS

2024

2023

£

Contracted but not provided for in the

financial statements

170,000

30,000

14.	RELATED PARTY DISCLOSURES

Included in trade debtors and trade creditors are the following related party balances detailed together with associated sales and purchase transactions.

Year ended 31 December 2024

Sales

Debtors

Purchases

Creditor

Adelaide Finco (UK) Limited

5,695,738

353,845

24,797

324

Dunbia (UK)

2,741,970

400,729

49,316

2,376,000

Finco 1865 SPA

-

45,781

1,772,660

Year ended 31 December 2023

Adelaide Finco (UK) Limited

4,534,397

516,956

284,386

410,000

Dunbia (UK)

2,515,677

230,438

407,384

2,676,000

Finco 1865 SPA

-

1,830

1,610,660

During the year, loans were waived of £600,000 by Dunbia (UK) and £400,000 by Finco 1865 SPA.

The director, Howard Johnson, is also a director of Adelaide Finco (UK) Limited and the director, Sean Breen is also a director of Dunbia (UK).

15.	POST BALANCE SHEET EVENTS

In January 2025, an additional loan of £500,000 was provided by the shareholders in order to assist with the capital expenditure to be made during the year.

16.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dawn Holdings Limited.

17.	GOVERNMENT GRANTS

The company received grants in relation to property improvements and plant additions in 2018 and 2019 of £64,177. There are no unfilled conditions relating to the grants.