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REGISTERED NUMBER: 04115804 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PRIMEPAK FOODS LIMITED

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


PRIMEPAK FOODS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: C D Johnson
Mrs G Johnson
R D Johnson





SECRETARY: Mrs G Johnson





REGISTERED OFFICE: The Embankment
Kelleythorpe Industrial Estate
Driffield
East Yorkshire
YO25 9DJ





REGISTERED NUMBER: 04115804 (England and Wales)





AUDITORS: BCO Accountants LLP
Chartered Certified Accountants
and Statutory Auditors
Driffield

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The key financial highlights are as follows:

2024 2023 2022 2021
£    £    £    £   

Turnover 16,884 15,971 13,427 10,643
Profit before tax 1,650 1,402 877 1,159
Net assets 4,104 3,743 3,769 3,571

The directors consider the results for the year to be satisfactory, with productivity continuing to show good growth.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks for the company are raw material supplies and costs, compliance with food safety standards and competition in the retail market.

KEY PERFORMANCE INDICATORS
2024 2023 2022 2021

Growth in Revenue 6% 19% 26% 13%

Gross Profit Margin 29% 27% 25% 30%

Net Profit Margin 10% 9% 7% 11%

FUTURE DEVELOPMENTS
In view of the company's continued successful financial results the directors will continue the same business model as previously and expect to continue trading at the same productivity levels as in previous years.

FINANCIAL INSTRUMENTS
The company's principal financial instruments comprise of bank balances, bank overdrafts and trade creditors. The main purpose of these instruments is to raise funds and finance for the company's operations.

Due to the nature of the financial instruments used by the company there is limited exposure to price risk. The company's approach to managing other risks applicable to the financial instruments is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.

ON BEHALF OF THE BOARD:





R D Johnson - Director


15 April 2025

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of speciality food wholesalers.

DIVIDENDS
Interim dividends of £875,000 were paid on the ordinary £1 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the period ended 31 December 2024 will be £875,000 (2023 - £1,100,000).

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

C D Johnson
Mrs G Johnson
R D Johnson

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


AUDITORS
The auditors, BCO Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





R D Johnson - Director


15 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PRIMEPAK FOODS LIMITED


Opinion
We have audited the financial statements of Primepak Foods Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit 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.

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 Auditors' 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.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PRIMEPAK FOODS LIMITED


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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 directors' 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 Statement of Directors' Responsibilities set out on page three, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PRIMEPAK FOODS LIMITED


Auditors' 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 a Report of the Auditors 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.

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 that are applicable to the entity and determined that the most significant are those that relate to:

- Financial Reporting Standard 102
- Companies Act 2006
- health and safety
- food hygiene

We assessed the risks of material misstatement in respect of fraud through discussions with directors.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Enquiries were made of management and we corroborated our enquiries by reviewing the company's health and safety manual and external food hygiene audit reports.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries throughout the year into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. We considered the risk of fraud to be low. Accounting policies were reviewed and an element of unpredictability was included in our audit procedures.

We consider that the nature, timing and extent of audit procedures performed increases the likelihood of detection of any irregularities.

A further description of our 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 Report of the Auditors.

Use of our report
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 a Report of the Auditors 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.




Nicola Jayne Lyon FCCA (Senior Statutory Auditor)
for and on behalf of BCO Accountants LLP
Chartered Certified Accountants
and Statutory Auditors
Driffield

17 April 2025

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

STATEMENT OF COMPREHENSIVE
INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 3 16,884,020 15,971,008

Cost of sales (11,928,490 ) (11,700,144 )
GROSS PROFIT 4,955,530 4,270,864

Administrative expenses (3,385,441 ) (2,943,308 )
1,570,089 1,327,556

Other operating income 4 6,023 6,961
OPERATING PROFIT 6 1,576,112 1,334,517

Interest receivable and similar income 74,151 67,362
PROFIT BEFORE TAXATION 1,650,263 1,401,879

Tax on profit 7 (413,716 ) (328,222 )
PROFIT FOR THE FINANCIAL YEAR 1,236,547 1,073,657

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,236,547

1,073,657

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 1,658,750 1,725,629
1,658,750 1,725,629

CURRENT ASSETS
Stocks 11 551,608 422,076
Debtors 12 1,291,696 1,285,248
Cash at bank and in hand 2,184,204 1,912,933
4,027,508 3,620,257
CREDITORS
Amounts falling due within one year 13 (1,226,960 ) (1,234,762 )
NET CURRENT ASSETS 2,800,548 2,385,495
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,459,298

4,111,124

PROVISIONS FOR LIABILITIES 16 (355,006 ) (368,379 )
NET ASSETS 4,104,292 3,742,745

CAPITAL AND RESERVES
Called up share capital 17 750 750
Retained earnings 18 4,103,542 3,741,995
SHAREHOLDERS' FUNDS 4,104,292 3,742,745

The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by:





R D Johnson - Director


PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 750 3,768,338 3,769,088

Changes in equity
Dividends - (1,100,000 ) (1,100,000 )
Total comprehensive income - 1,073,657 1,073,657
Balance at 31 December 2023 750 3,741,995 3,742,745

Changes in equity
Dividends - (875,000 ) (875,000 )
Total comprehensive income - 1,236,547 1,236,547
Balance at 31 December 2024 750 4,103,542 4,104,292

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Primepak Foods Limited is a private company limited by shares. The Company is incorporated and domiciled in England and Wales. Its company registration number is 04115804. The registered office of the company is The Embankment, Kelleythorpe Industrial Estate, Driffield, East Yorkshire, YO25 9DJ.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 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 paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirement of paragraph 33.7.

Preparation of consolidated financial statements
The ultimate parent company is Montyredman Holdings Limited. The registered office of Montyredman Holdings Limited is The Embankment, Kelleythorpe Industrial Estate, Driffield, East Yorkshire, YO25 9DJ.

The financial statements of the company are consolidated in the financial statements of Montyredman Holdings Limited . These consolidated financial statements are available from its registered office, The Embankment, Kelleythorpe Industrial Estate, Driffield, East Yorkshire, YO25 9DJ.

Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover
Turnover is measured at fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost and 10% on cost
Motor vehicles - 20% on cost

Freehold land is not depreciated.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Stocks
Stocks are valued at the lower of cost and net estimated selling price less selling costs, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial assets including trade and other receivables, cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

Basic financial liabilities including trade and other payables and bank loans are initially recognised at transaction price and subsequently measured at amortised cost.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Sale of goods 16,884,020 15,971,008
16,884,020 15,971,008

4. OTHER OPERATING INCOME
2024 2023
£    £   
Sundry receipts - 257
Feed In Tariff 6,023 6,704
6,023 6,961

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,903,939 1,652,540
Social security costs 148,370 126,425
Other pension costs 77,170 69,617
2,129,479 1,848,582

The average number of employees during the year was as follows:
2024 2023

Directors 3 3
Sales and production 63 59
Administration 5 4
71 66

2024 2023
£    £   
Directors' remuneration 27,825 27,300
Directors' pension contributions to money purchase schemes 22,500 22,500

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 156,825 152,212
Loss on disposal of fixed assets 5,540 -
Operating lease charges 166,729 167,736
Auditors remuneration 6,000 6,000
Auditors remuneration for non audit work 9,500 10,000

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 427,089 298,386

Deferred tax:
Charge for the year (13,373 ) 29,836
Tax on profit 413,716 328,222

UK corporation tax has been charged at 25% (2023 - 23.52%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,650,263 1,401,879
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 23.520%)

412,566

329,722

Effects of:
Depreciation in excess of capital allowances 1,150 1,083
Capital allowances super deduction - (4,356 )
Effect of change in tax rates - 1,773
Total tax charge 413,716 328,222

The net reversal of deferred tax liabilities expected to occur in the next year is £30,612. This expected reversal is due to the movement in the accelerated capital allowances timing differences.

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 875,000 1,100,000

9. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 227,500
AMORTISATION
At 1 January 2024
and 31 December 2024 227,500
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

10. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2024 534,220 2,619,002 186,762 3,339,984
Additions - 14,114 85,372 99,486
Disposals - - (30,445 ) (30,445 )
At 31 December 2024 534,220 2,633,116 241,689 3,409,025
DEPRECIATION
At 1 January 2024 32,498 1,463,595 118,262 1,614,355
Charge for year 10,684 117,217 28,924 156,825
Eliminated on disposal - - (20,905 ) (20,905 )
At 31 December 2024 43,182 1,580,812 126,281 1,750,275
NET BOOK VALUE
At 31 December 2024 491,038 1,052,304 115,408 1,658,750
At 31 December 2023 501,722 1,155,407 68,500 1,725,629

11. STOCKS
2024 2023
£    £   
Stocks 551,608 422,076

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,178,976 1,168,852
Amounts owed by group undertakings 55,974 57,096
VAT 32,574 33,957
Prepayments and accrued income 24,172 25,343
1,291,696 1,285,248

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 14) 205,361 188,553
Trade creditors 742,886 687,278
Tax 187,089 298,376
Social security and other taxes 36,957 30,651
Accruals and deferred income 54,667 29,904
1,226,960 1,234,762

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 205,361 188,553

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 138,318 163,007
Between one and five years 391,151 529,969
529,469 692,976

16. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 355,006 368,379

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


16. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 368,379
Credit to Statement of Comprehensive Income during year (13,373 )
Balance at 31 December 2024 355,006

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
750 Ordinary £1 750 750

The above allotted, issued and fully paid ordinary share capital of the company consists of 300 ordinary 'A' shares, 300 ordinary 'B' shares and 150 ordinary 'C' shares.

All shares rank pari passu in all respects save that dividends may be payable at varying rates on the different classes of shares.

18. RESERVES
Retained
earnings
£   

At 1 January 2024 3,741,995
Profit for the year 1,236,547
Dividends (875,000 )
At 31 December 2024 4,103,542

19. PENSION COMMITMENTS

The company operates defined contribution pension schemes on behalf of its directors and certain employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost for the year amounts to £77,170 (2023 - £69,617). Included in creditors at the year end is £3,965 (2023 - £3,197) of outstanding contributions.

20. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements - 76,000

PRIMEPAK FOODS LIMITED (REGISTERED NUMBER: 04115804)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


21. ULTIMATE CONTROLLING PARTY

At 31 December 2024 Primepak Foods Limited was a wholly owned subsidiary of Montyredman Holdings Limited . Montyredman Holdings Limited is the only group into which these financial statements are
consolidated and these group accounts can be obtained from its registered office The Embankment, Kelleythorpe Industrial Estate, Kelleythorpe, Driffield, YO25 9DJ . Montyredman Holdings Limited is held under the control of its directors .