Company registration number 10374579 (England and Wales)
REEVES BUTCHERS HOLDINGS LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
REEVES BUTCHERS HOLDINGS LTD
COMPANY INFORMATION
Directors
P M C Reeves
H L Reeves
Company number
10374579
Registered office
11 - 12 Brickfields
Kiln Lane
Bracknell
Berkshire
England
RG12 1NQ
Auditor
FLB Audit LLP
1010 Eskdale Road
Winnersh Triangle
Wokingham
Berkshire
RG41 5TS
REEVES BUTCHERS HOLDINGS LTD
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Statement of financial position
8
Statement of changes in equity
9
Notes to the financial statements
10 - 16
REEVES BUTCHERS HOLDINGS LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 1 -
The directors present the strategic report for the year ended 30 June 2024.
Review of the business
Reeves Butchers Holdings Ltd holds an investment in Reeves Butchers Ltd and continues to operate as the intermediate holding company for the group.
Principal risks and uncertainties
The directors do not believe the Company itself is subject to any operational risks given the nature of the Company's status as a holding company.
Key performance indicators
The Company has no key performance indicators its specifically monitors, beyond the performance and position of its subsidiary Reeves Butchers Ltd.
Future developments
Continue to act as an intermediate holding company for the group.
Financial Instruments
Included in the financial statements for the current year is a £2 million loan note, which may present a credit risk to the company should the borrower default on the payments as per the contracted agreement. The directors do not believe this to be a risk to the company at present however this will be reconsidered annually.
P M C Reeves
Director
9 April 2025
REEVES BUTCHERS HOLDINGS LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
The directors present their annual report and financial statements for the year ended 30 June 2024.
Principal activities
The principal activity of the company was that of a holding company.
Results and dividends
The results for the year are set out on page 7.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
P M C Reeves
H L Reeves
Auditor
In accordance with the company's articles, a resolution proposing that FLB Audit LLP be reappointed as auditor of the company will be put at a General Meeting.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company’s transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
Medium-sized companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.
REEVES BUTCHERS HOLDINGS LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
On behalf of the board
P M C Reeves
Director
9 April 2025
REEVES BUTCHERS HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF REEVES BUTCHERS HOLDINGS LTD
- 4 -
Opinion
We have audited the financial statements of Reeves Butchers Holdings Ltd (the 'Company') for the year ended 30 June 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
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 Auditor's responsibilities 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 UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
REEVES BUTCHERS HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF REEVES BUTCHERS HOLDINGS LTD (CONTINUED)
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' 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 remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine 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, the directors are 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 the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks within which the company operates, focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements. The laws and regulations we considered in this context were the Companies Act 2006 and Taxation legislation.
We identified the greatest risks of material impact on the financial statements from irregularities, including fraud, to be the override of controls by management. Our audit procedures to respond to management override risks included enquiries of management about their own identification and assessment of the risks of irregularities, sample testing on the posting of journals and reviewing accounting estimates for biases.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
The potential effects of inherent limitations are particularly significant in the case of misstatement resulting from fraud because fraud may involve sophisticated and carefully organised schemes designed to conceal it, including deliberate failure to record transactions, collusion or intentional misrepresentations being made to us.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
REEVES BUTCHERS HOLDINGS LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF REEVES BUTCHERS HOLDINGS LTD (CONTINUED)
- 6 -
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.
Daniel Wesolowski
Senior Statutory Auditor
For and on behalf of FLB Audit LLP
10 April 2025
Chartered Accountants
Statutory Auditor
1010 Eskdale Road
Winnersh Triangle
Wokingham
Berkshire
RG41 5TS
REEVES BUTCHERS HOLDINGS LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
2024
2023
Notes
£
£
Administrative expenses
(2,210)
(50,298)
Profit on sale of freehold property
-
397,207
Other operating income
80,500
Operating (loss)/profit
2
(2,210)
427,409
Interest receivable and similar income
5
1,076
386
Interest payable and similar expenses
6
-
(33,776)
(Loss)/profit before taxation
(1,134)
394,019
Tax on (loss)/profit
7
(38,456)
(Loss)/profit and total comprehensive expense/income for the year
(1,134)
355,563
REEVES BUTCHERS HOLDINGS LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
30 June 2024
- 8 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
8
6
6
Current assets
Debtors
10
2,005,174
2,005,174
Cash at bank and in hand
55,770
54,945
2,060,944
2,060,119
Creditors: amounts falling due within one year
11
(1,051,329)
(1,049,370)
Net current assets
1,009,615
1,010,749
Net assets
1,009,621
1,010,755
Capital and reserves
Called up share capital
12
12
12
Profit and loss reserves
1,009,609
1,010,743
Total equity
1,009,621
1,010,755
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The financial statements were approved by the board of directors and authorised for issue on 9 April 2025 and are signed on its behalf by:
P M C Reeves
Director
Company registration number 10374579 (England and Wales)
REEVES BUTCHERS HOLDINGS LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
- 9 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 July 2022
12
655,180
655,192
Year ended 30 June 2023:
Profit and total comprehensive income
-
355,563
355,563
Balance at 30 June 2023
12
1,010,743
1,010,755
Year ended 30 June 2024:
Loss and total comprehensive expense
-
(1,134)
(1,134)
Balance at 30 June 2024
12
1,009,609
1,009,621
REEVES BUTCHERS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 10 -
1
Accounting policies
Company information
Reeves Butchers Holdings Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 11 - 12 Brickfields, Kiln Lane, Bracknell, Berkshire, England, RG12 1NQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
This Company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this Company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The Company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
The financial statements of the Company are consolidated in the financial statements of Reeves Butchers Group Limited. These consolidated financial statements are available from its registered office, 11-12 Brickfields, Kiln Lane, Bracknell, Berkshire, RG12 1NQ.
The Company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
The financial statements have been prepared on a going concern basis, the validity of which is dependent upon the continued financial support from the fellow subsidiaries, parent company and beneficial owner. The Company has been confirmed this support will be continued and will enable the Company to trade for the foreseeable future and meet its financial commitments as they fall due.
Whilst the Company places reliance on other entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land
Land is not depreciated
Freehold buildings
2% on cost
REEVES BUTCHERS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 11 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiary undertakings are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the Company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's statement of financial position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include loans from fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
REEVES BUTCHERS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 12 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company’s contractual obligations expire or are discharged or cancelled.
1.7
Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
REEVES BUTCHERS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 13 -
2
Operating (loss)/profit
2024
2023
Operating (loss)/profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
-
15,468
Profit on disposal of investment property
(397,207)
3
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
3,100
3,000
4
Employees
The average monthly number of persons (including directors) employed by the Company during the year was:
2024
2023
Number
Number
Total
5
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
1,076
386
6
Interest payable and similar expenses
2024
2023
£
£
Interest on bank overdrafts and loans
-
10,345
Other interest on financial liabilities
23,431
33,776
7
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
38,456
REEVES BUTCHERS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
7
Taxation
(Continued)
- 14 -
The actual charge for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
(Loss)/profit before taxation
(1,134)
394,019
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.50%)
(284)
80,774
Tax effect of expenses that are not deductible in determining taxable profit
4,297
Gains not taxable
(49,786)
Group relief
284
Depreciation on assets not qualifying for tax allowances
3,171
Taxation charge for the year
-
38,456
8
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
9
6
6
9
Subsidiaries
Details of the Company's subsidiaries at 30 June 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Reeves Butchers Ltd
11 - 12 Brickfields, Kiln Lane, Bracknell, Berkshire, England, RG12 1NQ
Ordinary
100.00
10
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,000,000
2,000,000
Other debtors
5,174
5,174
2,005,174
2,005,174
REEVES BUTCHERS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 15 -
11
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,046,229
1,007,914
Corporation tax
38,456
Accruals and deferred income
5,100
3,000
1,051,329
1,049,370
12
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
8
8
8
-
A Shares of £1 each
4
4
4
12
12
12
12
12
At the reporting date, the Company had 2 classes of Ordinary share capital in issue with the following prescribed particulars;
Ordinary shares: a right to receive notice of, to attend, speak and vote at all general meetings of the company. The shares carry the right to receive a dividend and capital distribution upon liquidation.
A shares: The shares carry the right to receive a dividend and capital distribution upon liquidation.
There were no movements in share capital during the year.
13
Events after the reporting date
On 27 July 2024, an intragroup dividend was received from Reeves Butchers Limited amounting to £1,119,583 and a subsequent dividend was paid by Reeves Butchers Holdings Limited to Reeves Butchers Group Limited amounting to £2,119,583.
14
Related party transactions
The company has taken advantage of the exemption covered by Financial Reporting Standard 102 Section 33 'Related Party Disclosures' paragraph 33.1A not to disclose transactions entered into between two or more members of a group on the grounds that any subsidiaries party to the transactions is wholly owned by such a member.
REEVES BUTCHERS HOLDINGS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
15
Ultimate controlling party
At the reporting date, the immediate and ultimate parent company is Reeves Butchers Group Limited (company number: 14791636), a company incorporated in England and Wales. The registered office address is 11 - 12 Brickfields Kiln Lane, Bracknell, Berkshire, RG12 1NQ. On 14 October 2024, there was a change in control making Baobab Topco Limited the new ultimate parent of the Group.
The results will be consolidated within the group by Reeves Butchers Group Limited therefore Reeves Butchers Holdings Ltd have taken the exemption under reduced disclosure framework based on consolidation at group level.
Baobab Topco Limited is owned by several shareholders and individually no shareholder can exert control.
16
Secured Debts and Securities
Fixed and floating charges have been registered against the company over all the assets, property and undertaking of the company in relation to other borrowings. A charge dated 23 May 2023 was satisfied on 18 October 2024.
Charges registered on 14 October 2024 containing fixed and floating charges, were registered post year end. The charges contains a negative pledge.
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