Bfoods (U.K.) Limited

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—5

1. General Information

Bfoods (U.K.) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11110151 . The registered office is 69-75 Thorpe Road, Norwich, NR1 1UA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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:

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.

2.3. Stocks and Work in Progress

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

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

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Bfoods (U.K.) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.4. Foreign Currencies

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 the 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. Taxation

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 balance sheet 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 balance sheet 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 balance sheet date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 2)

4. Stocks

	2024	2023
	£	£
Stock	379,563	56,088

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Bfoods (U.K.) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	613,144
Other debtors	1,969	69,196

	1,969	682,340

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	60,573	688,983
Amounts owed to group undertakings	336,336	74,284
Other creditors	13,945	14,833
Taxation and social security	36,312	17,959

	447,166	796,059

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	22,001	22,001

8. Post Balance Sheet Events

Since the 31st December 2024, the Company agreed to an asset sale, transfering all import quota to an external third party, resulting in the trading activity ceasing in February 2025.

This event has been considered for any financial impact on the figures presented for the year ended 31 December 2024.

9. Related Party Disclosures

The company, being a wholly owned subsidiary of Biegi Foods GmbH, has taken advantage of the exemption under 33.1A of the Financial Reporting Standard 102, not to disclose transactions with other members of the group.

10. Controlling Parties

The company's ultimate controlling party is Biegi Foods GmbH by virtue of their interest in the share capital of the company.

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Bfoods (U.K.) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Audit Information

The auditor's report on the accounts of Bfoods (U.K.) Limited for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Frank Shippam BSc FCA DChA (Senior Statutory Auditor) for and on behalf of MA Partners Audit LLP , Statutory Auditor.

MA Partners Audit LLP

7 The Close

Norwich

Norfolk

NR1 4DJ

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		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	4	379,563		56,088
Debtors	5	1,969		682,340
Cash at bank and in hand		473,653		351,520

		855,185		1,089,948
Creditors: Amounts Falling Due Within One Year	6	(447,166 )		(796,059 )

NET CURRENT ASSETS (LIABILITIES)			408,019		293,889

TOTAL ASSETS LESS CURRENT LIABILITIES			408,019		293,889

NET ASSETS			408,019		293,889

CAPITAL AND RESERVES
Called up share capital	7		22,001		22,001
Share premium account			2,861		2,861
Income Statement			383,157		269,027

SHAREHOLDERS' FUNDS			408,019		293,889