Company registration number 04051119 (England and Wales)
M W FRESH FOODS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
M W FRESH FOODS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
M W FRESH FOODS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
84,454
84,280
Cash at bank and in hand
3,282
-
0
87,736
84,280
Creditors: amounts falling due within one year
4
(68,730)
(55,379)
Net current assets
19,006
28,901
Creditors: amounts falling due after more than one year
5
(10,833)
(20,000)
Net assets
8,173
8,901
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
8,073
8,801
Total equity
8,173
8,901

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 27 June 2025
Mr M Westgarth
Director
Company registration number 04051119 (England and Wales)
M W FRESH FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

M W Fresh Foods Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit A1 Marquis Court, Team Valley Trading Estate, Gateshead, Tyne & Wear, NE11 0RU.

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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the sale of swine is recognised upon delivery of the animals to the customer, which is when the risks and rewards transfer.

1.4
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.

1.5
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 balance sheet 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.

M W FRESH FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include debtors 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.

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, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

1.7
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 profit and loss account 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.

M W FRESH FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
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 profit and loss account, 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
1
1
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
34,454
34,155
Other debtors
-
0
125
34,454
34,280
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
50,000
50,000
Total debtors
84,454
84,280
M W FRESH FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,899
Trade creditors
-
0
1,200
Amounts owed to group undertakings
57,230
39,342
Corporation tax
-
0
1,938
Other creditors
1,500
2,000
68,730
55,379

Debenture on the banks standard form dated 15⁄04⁄2005.

 

Limited Guarantee given by Mr George William Westgarth and Mr Mark Andrew William Westgarth and Mrs Lily Dorothy Westgarth for GBP 100,000.00 dated 18⁄07⁄2007.

 

Unlimited Guarantee given by G. & M. Westgarth Limited and Long Green Farm Limited dated 23⁄07⁄2020.

 

Unlimited Guarantee given by G. & M. Westgarth Limited and Long Green Farm Limited and Long Green Pigs Limited dated 01⁄03⁄2022.

5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
10,833
20,000

Debenture on the banks standard form dated 15⁄04⁄2005.

 

Limited Guarantee given by Mr George William Westgarth and Mr Mark Andrew William Westgarth and Mrs Lily Dorothy Westgarth for GBP 100,000.00 dated 18⁄07⁄2007.

 

Unlimited Guarantee given by G. & M. Westgarth Limited and Long Green Farm Limited dated 23⁄07⁄2020.

 

Unlimited Guarantee given by G. & M. Westgarth Limited and Long Green Farm Limited and Long Green Pigs Limited dated 01⁄03⁄2022.

6
Parent company

The parent company is G & M Westgarth Limited, a company incorporated in England & Wales. Copies of their financial statements can be obtained from the registered office at Newsham Hall Farm, Newsham, Richmond, North Yorkshire, DL11 7RA.

 

The company's ultimate controlling party is Mr Mark Westgarth due to owning all the issued share capital in G & M Westgarth Limited.

M W FRESH FOODS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
7
Related party transactions
Transactions with related parties

At the year end the company owed £57,230 (owed by in 2023 : £39,342) to G .& M Westgarth Limited, a business in which Mr M Westgarth has an interest.

 

There is an unlimited guarantee between Long Green Farm Limited and MW Fresh Foods Limited.

 

There is an unlimited guarantee between Long Green Farm Limited, Long Green Pigs Limited and MW Fresh Foods Limited.

 

The director, Mr Mark Westgarth, has an interest in all of the above companies.

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