IRIS Accounts Production v25.1.3.33 11144669 Board of Directors 31.1.25 27.1.24 31.1.25 31.1.25 Medium entities These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. The group's principal activity during the period continued to be the manufacturing and whole of cooked meats. The principle activity of the company was that of a holding company. true true false true true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh111446692024-01-26111446692025-01-31111446692024-01-272025-01-31111446692023-01-27111446692023-01-282024-01-26111446692024-01-2611144669ns15:EnglandWales2024-01-272025-01-3111144669ns14:PoundSterling2024-01-272025-01-3111144669ns10:Director12024-01-272025-01-3111144669ns10:Consolidated2025-01-3111144669ns10:ConsolidatedGroupCompanyAccounts2024-01-272025-01-3111144669ns10:PrivateLimitedCompanyLtd2024-01-272025-01-3111144669ns10:Consolidatedns10:MediumEntities2024-01-272025-01-3111144669ns10:Consolidatedns10:Audited2024-01-272025-01-3111144669ns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-272025-01-3111144669ns10:Medium-sizedCompaniesRegimeForAccounts2024-01-272025-01-3111144669ns10:Consolidated2024-01-272025-01-3111144669ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2024-01-272025-01-3111144669ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2024-01-272025-01-3111144669ns10:FullAccounts2024-01-272025-01-311114466912024-01-272025-01-3111144669ns10:Director22024-01-272025-01-3111144669ns10:Director32024-01-272025-01-3111144669ns10:Director42024-01-272025-01-3111144669ns10:CompanySecretary12024-01-272025-01-3111144669ns10:RegisteredOffice2024-01-272025-01-3111144669ns10:Consolidated2023-01-282024-01-2611144669ns5:CurrentFinancialInstruments2025-01-3111144669ns5:CurrentFinancialInstruments2024-01-2611144669ns5:Non-currentFinancialInstruments2025-01-3111144669ns5:Non-currentFinancialInstruments2024-01-2611144669ns5:ShareCapital2025-01-3111144669ns5:ShareCapital2024-01-2611144669ns5:RetainedEarningsAccumulatedLosses2025-01-3111144669ns5:RetainedEarningsAccumulatedLosses2024-01-2611144669ns5:ShareCapital2023-01-2711144669ns5:RetainedEarningsAccumulatedLosses2023-01-2711144669ns5:RetainedEarningsAccumulatedLosses2023-01-282024-01-2611144669ns5:RetainedEarningsAccumulatedLosses2024-01-272025-01-311114466912024-01-272025-01-3111144669ns5:NetGoodwill2024-01-272025-01-3111144669ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-01-272025-01-3111144669ns5:LandBuildingsns5:ShortLeaseholdAssets2024-01-272025-01-3111144669ns5:PlantMachinery2024-01-272025-01-3111144669ns5:MotorVehicles2024-01-272025-01-3111144669ns5:ComputerEquipment2024-01-272025-01-3111144669ns5:LandBuildings2024-01-2611144669ns5:LandBuildings2024-01-272025-01-3111144669ns5:LandBuildings2025-01-3111144669ns5:LandBuildings2024-01-2611144669ns5:CostValuation2024-01-2611144669ns5:WithinOneYearns5:CurrentFinancialInstruments2025-01-3111144669ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-2611144669ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2025-01-3111144669ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-01-2611144669ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2025-01-3111144669ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-01-2611144669ns5:RetainedEarningsAccumulatedLosses2024-01-26
REGISTERED NUMBER: 11144669 (England and Wales)















Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Period

27 January 2024 to 31 January 2025

for

FRANK KING HOLDINGS LIMITED

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Contents of the Consolidated Financial Statements
for the Period 27 January 2024 to 31 January 2025










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Statement of Comprehensive Income 8

Consolidated Balance Sheet 9

Company Balance Sheet 10

Consolidated Statement of Changes in Equity 11

Company Statement of Changes in Equity 12

Consolidated Cash Flow Statement 13

Notes to the Consolidated Cash Flow Statement 14

Notes to the Consolidated Financial Statements 16


FRANK KING HOLDINGS LIMITED

Company Information
for the Period 27 January 2024 to 31 January 2025







Directors: J L Fitzsimons
J Hamer
J Hamer
J Latham





Secretary: J Hamer





Registered office: 69 Queen Street
Wigan
WN3 4HX





Registered number: 11144669 (England and Wales)





Auditors: S & W Partners Audit Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Group Strategic Report
for the Period 27 January 2024 to 31 January 2025


The directors present their strategic report of the company and the group for the period 27 January 2024 to 31 January 2025.

Principal Activity
The group's principal activity during the period continued to be the manufacturing and whole of cooked meats. The principle activity of the company was that of a holding company.

Review of business
The group posted a strong period with sales revenue increasing by 4% year on year to £22.3m (2024: £21.3m). The financial statements also show a substantial increase in net current assets. Total equity has grown by 22%.

The group continues to drive expansion with the purchase of land in this period.

Principal risks and uncertainties
The directors regularly review the business risks and uncertainties facing the group and take the appropriate action where necessary. The following issues are the principal risks and uncertainties faced by the group.

Health and safety
The group is in a highly regulated industry where the maintenance of hygiene and health and safety standards is absolutely crucial. The group recognises its obligations and the risk to its reputation of any incident affecting either its customers or employees. The directors are mindful of their responsibilities and comply with all relevant legislation.

Credit risk
To be commercial the group must allow its customer to trade with credit terms and hence the group is exposed to the associated risks. The group mitigates these risks by carrying out credit checks on new customers and obtaining credit insurance against all debtor balances. Bad debts are very rare and, in most circumstances, would be covered by insurance, so exposure to credit risk is considered to be low.

Liquidity risk
The liquidity risk of the group is considered to be low because the group has a healthy balance sheet position and strong cash flow generated from operations, which will continue to support the group operations.

Foreign currency risk
The group is exposed to foreign currency risks due to trading carried out both within Europe and internationally. The group mitigates the exposure to these risks through the purchase of foreign currency forward contracts.

Interest rate risk
The group has loans which funded the extension of the factory. As such, the operations of the group are exposed to the effects of the changes in interest rate on debt. Wherever possible, the group enters into fixed interest rate agreements to reduce the exposure to changes in interest rates. However, should interest rates increase, the group is well placed to absorb any changes in rates as cash flow remains strong.

Environmental risks
The group operates in a highly competitive industry which is subject to various environmental risks. Continual investment in the group's factory and plans for further expansion help the group achieve its BRC AA rating.

Price risk
Inflation in the UK is still high. The group continues to experience pressure from raw ingredients and energy costs which is partially mitigated by buying in international markets and the policy of not entering into long term sales contracts.

Labour availability risk
The group continues to invest in the employees. Having a stable workforce with relatively low staff turnover. Promotion from within the group in encourages. The group is also geographically positioned with very good public transport links and within a town that has had historically a high concentration of food manufacturers. As such it can draw from a very good local pool of employees and consider the risk of labour availability to be low.


FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Group Strategic Report
for the Period 27 January 2024 to 31 January 2025


Key performance indicators
2025 2024
£    £   
Turnover 22,286,116 21,395,661
Gross profit 6,248,123 5,859,393
Operating profit 1,838,757 1,877,566
Profit after taxation 1,407,511 1,494,299
Net current assets 156,309 1,725,739
Total equity 5,487,048 4,487,546


Future developments
On the back of an exceptional performance, with a focus on in-house efficiencies, investment in staff and additional production facilities the group aims to see continuous improvement in profitability.

On behalf of the board:





J Latham - Director


3 July 2025

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Report of the Directors
for the Period 27 January 2024 to 31 January 2025


The directors present their report with the financial statements of the company and the group for the period 27 January 2024 to 31 January 2025.

Dividends
Ordinary dividends were paid amounts to £408,009. The directors do not recommend payment of a further dividend.

Directors
The directors shown below have held office during the whole of the period from 27 January 2024 to the date of this report.

J L Fitzsimons
J Hamer
J Hamer
J Latham

Statement of directors' responsibilities
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

On behalf of the board:





J Latham - Director


3 July 2025

Report of the Independent Auditors to the Members of
Frank King Holdings Limited


Opinion
We have audited the financial statements of Frank King Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 January 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 January 2025 and of the group's profit for the period 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 group 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 group's and the parent 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 other information comprises the information included in the report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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 the audit:
- the information given in the Group 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 Group 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
Frank King Holdings Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company 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 four, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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.

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:

- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
- identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
- understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- identifying and testing journal entries, through the use of audit data analytics and manual reviews, to test the journals with the largest risk scores;
- focussing on revenue recognition, in particular focussing on cut-off and occurrence;
- assessing and challenging managements key accounting estimates by evaluating the significant assumptions and the choice of data used.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Report of the Independent Auditors to the Members of
Frank King Holdings Limited


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.




David Fort FCA (Senior Statutory Auditor)
for and on behalf of S & W Partners Audit Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

10 July 2025

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Consolidated
Statement of Comprehensive
Income
for the Period 27 January 2024 to 31 January 2025

Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
Notes £    £   

Turnover 4 22,286,116 21,395,661

Cost of sales (16,037,993 ) (15,536,268 )
Gross profit 6,248,123 5,859,393

Distribution costs (659,407 ) (589,323 )
Administrative expenses (3,750,650 ) (3,396,925 )
1,838,066 1,873,145

Other operating income 691 4,421
Operating profit 6 1,838,757 1,877,566

Income from other participating interests 250,826 211,314
Interest receivable and similar income 18,664 14,886
2,108,247 2,103,766

Interest payable and similar expenses 7 (171,899 ) (154,124 )
Profit before taxation 1,936,348 1,949,642

Tax on profit 8 (528,837 ) (455,343 )
Profit for the financial period 1,407,511 1,494,299

Other comprehensive income - -
Total comprehensive income for the
period

1,407,511

1,494,299

Profit attributable to:
Owners of the parent 1,407,511 1,494,299

Total comprehensive income attributable to:
Owners of the parent 1,407,511 1,494,299

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Consolidated Balance Sheet
31 January 2025

2025 2024
Notes £    £    £   
Fixed assets
Intangible assets 11 87,869 117,159
Tangible assets 12 6,246,360 4,198,696
Investments 13
Interest in joint venture 603,236 452,410
Investment property 14 499,200 499,200
7,436,665 5,267,465

Current assets
Stocks 15 1,564,087 1,042,567
Debtors 16 2,106,655 2,215,465
Cash at bank and in hand 171,348 1,093,424
3,842,090 4,351,456
Creditors
Amounts falling due within one year 17 3,685,781 2,625,717
Net current assets 156,309 1,725,739
Total assets less current liabilities 7,592,974 6,993,204

Creditors
Amounts falling due after more than one
year

18

(1,768,091

)

(2,200,043

)

Provisions for liabilities 23 (337,835 ) (305,615 )
Net assets 5,487,048 4,487,546

Capital and reserves
Called up share capital 24 1,675,250 1,675,250
Retained earnings 25 3,811,798 2,812,296
Shareholders' funds 5,487,048 4,487,546

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2025 and were signed on its behalf by:





J Latham - Director


FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Company Balance Sheet
31 January 2025

2025 2024
Notes £    £    £   
Fixed assets
Intangible assets 11 - -
Tangible assets 12 3,266,612 1,131,667
Investments 13 3,450,000 3,450,000
Investment property 14 499,200 499,200
7,215,812 5,080,867

Current assets
Debtors 16 33,041 1,603
Cash at bank 5,090 28,972
38,131 30,575
Creditors
Amounts falling due within one year 17 2,926,706 823,569
Net current liabilities (2,888,575 ) (792,994 )
Total assets less current liabilities 4,327,237 4,287,873

Creditors
Amounts falling due after more than one
year

18

841,058

917,522
Net assets 3,486,179 3,370,351

Capital and reserves
Called up share capital 24 1,675,250 1,675,250
Retained earnings 25 1,810,929 1,695,101
Shareholders' funds 3,486,179 3,370,351

Company's profit for the financial year 523,837 571,148

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2025 and were signed on its behalf by:




....................................................................
J Latham - Director


FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Consolidated Statement of Changes in Equity
for the Period 27 January 2024 to 31 January 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 28 January 2023 1,675,250 1,851,721 3,526,971

Changes in equity
Dividends - (533,724 ) (533,724 )
Total comprehensive income - 1,494,299 1,494,299
Balance at 26 January 2024 1,675,250 2,812,296 4,487,546

Changes in equity
Dividends - (408,009 ) (408,009 )
Total comprehensive income - 1,407,511 1,407,511
Balance at 31 January 2025 1,675,250 3,811,798 5,487,048

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Company Statement of Changes in Equity
for the Period 27 January 2024 to 31 January 2025

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 28 January 2023 1,675,250 1,657,677 3,332,927

Changes in equity
Dividends - (533,724 ) (533,724 )
Total comprehensive income - 571,148 571,148
Balance at 26 January 2024 1,675,250 1,695,101 3,370,351

Changes in equity
Dividends - (408,009 ) (408,009 )
Total comprehensive income - 523,837 523,837
Balance at 31 January 2025 1,675,250 1,810,929 3,486,179

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Consolidated Cash Flow Statement
for the Period 27 January 2024 to 31 January 2025

Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,885,497 2,426,412
Interest paid (171,404 ) (154,125 )
Interest element of hire purchase payments
paid

(495

)

-
Tax paid (663,179 ) (168,276 )
Net cash from operating activities 1,050,419 2,104,011

Cash flows from investing activities
Purchase of tangible fixed assets (2,447,143 ) (674,952 )
Sale of tangible fixed assets 13,337 57,384
Interest received 18,664 14,886
Dividends received 100,000 -
Net cash from investing activities (2,315,142 ) (602,682 )

Cash flows from financing activities
New loans in year 1,296,000 -
Loan repayments in year (444,012 ) (383,227 )
Capital repayments in year - (51,783 )
Equity dividends paid (509,341 ) (463,910 )
Net cash from financing activities 342,647 (898,920 )

(Decrease)/increase in cash and cash equivalents (922,076 ) 602,409
Cash and cash equivalents at beginning
of period

2

1,093,424

491,015

Cash and cash equivalents at end of
period

2

171,348

1,093,424

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Cash Flow Statement
for the Period 27 January 2024 to 31 January 2025


1. Reconciliation of profit before taxation to cash generated from operations

Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Profit before taxation 1,936,348 1,949,642
Depreciation charges 416,675 472,432
(Profit)/loss on disposal of fixed assets (1,243 ) 200,984
Finance costs 171,899 154,124
Finance income (269,490 ) (226,200 )
2,254,189 2,550,982
Increase in stocks (521,520 ) (121,878 )
Decrease/(increase) in trade and other debtors 108,811 (457,742 )
Increase in trade and other creditors 44,017 455,050
Cash generated from operations 1,885,497 2,426,412

2. Cash and cash equivalents

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 January 2025
31/1/25 27/1/24
£    £   
Cash and cash equivalents 171,348 1,093,424
Period ended 26 January 2024
26/1/24 28/1/23
£    £   
Cash and cash equivalents 1,093,424 491,015


FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Cash Flow Statement
for the Period 27 January 2024 to 31 January 2025


3. Analysis of changes in net debt

Other
non-cash
At 27/1/24 Cash flow changes At 31/1/25
£    £    £    £   
Net cash
Cash at bank
and in hand 1,093,424 (922,076 ) 171,348
1,093,424 (922,076 ) 171,348
Debt
Finance leases (31,437 ) 31,437 - -
Debts falling due
within 1 year (409,163 ) (880,426 ) (431,952 ) (1,721,541 )
Debts falling due
after 1 year (2,200,043 ) - 431,952 (1,768,091 )
(2,640,643 ) (848,989 ) - (3,489,632 )
Total (1,547,219 ) (1,771,065 ) - (3,318,284 )

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements
for the Period 27 January 2024 to 31 January 2025


1. Statutory information

Frank King Holdings 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 General Information page.

Reporting period
The company draws its balance sheet to the closest Friday to the accounting reference date of 31 January. The current accounting period is a long period of 371 days. The comparative amounts presented in the financial statements are not entirely comparable.

2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The consolidated financial statements incorporate those of Frank King Holdings Limited and all of its subsidiaries (i.e. entities that the group controls through its power to govern the financial and operating policies so as to obtain economic benefits.) Subsidiaries acquired during the year are consolidated using the purchase method. Their results are incorporated from the date that control passes.

Equity accounting has been used on respect of a 50% joint venture holding over Barcino Meats Limited.

All financial statements prior periods are made up to 26 January or 31 January, which the movement is considered to be not material. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future.

The group's supply chain both national and international have remained operational throughout the current market conditions, and the company has no reason to doubt that this will not remain the same in the future.

Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


3. Accounting policies - continued

Critical accounting judgements and key sources of estimation uncertainty
In the application of the group'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.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Fair value of investment property
Investment property is held on the balance sheet at cost. The fair value of the investment property is reviewed by the directors on an annual basis, with any change in the value charged through the profit and loss account as the directors see fit.

Impairment assessment
As assessment has been conducted as to whether an impairment exists. The higher of the fair value less costs to sell and the value in use has been assessed against the carrying amounts of the assets. It was determined that there is no impairment in the current year due to the forecasts and assessments being greater than the carrying amount of the assets.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

Goodwill
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and amortised on a systematic basis over its expected life, which is 10 years.

For the purpose of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at less annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

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% straight line
Short leasehold - straight line over the term of the lease
Plant and machinery - 20% straight line and 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


3. Accounting policies - continued

Investment property
Investment property, which is property held to earn rentals and / or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Fixed asset investments
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot be otherwise measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the group has a long term interest and shares control under a contractual agreement are classified as jointly controlled entities.

Stocks
Stocks are slated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over is estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit and loss.

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


3. Accounting policies - continued

Financial instruments
The group 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 group`s balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 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.

Impairment of financial assets
Financial assets, other than those held at fair value through profit or 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 occuring 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 group 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.

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 group 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.

Other financial liabilities

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


3. Accounting policies - continued
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the condition in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the group`s contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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 exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Hire purchase and leasing commitments
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risk and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Pension costs and other post-retirement benefits
Payments to a defined contribution retirement benefit schemes are charged as an expense as they fall due.

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


4. Turnover

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

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

Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Sale of goods 22,229,422 21,301,651
Rental income 56,694 94,010
22,286,116 21,395,661

5. Employees and directors
Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Wages and salaries 4,413,878 3,742,461
Social security costs 396,448 313,481
Other pension costs 121,151 100,796
4,931,477 4,156,738

The average number of employees during the period was as follows:
Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24

Production staff 123 103
Administrative staff 27 25
Senior management 4 4
154 132

The average number of employees by undertakings that were proportionately consolidated during the period was 154 (2024 - 132 ) .

Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Directors' remuneration 75,522 80,975
Directors' pension contributions to money purchase schemes 21,316 18,509

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


6. Operating profit

The operating profit is stated after charging/(crediting):

Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Other operating leases 34,668 19,351
Depreciation - owned assets 387,385 387,121
Depreciation - assets on hire purchase contracts - 19,506
(Profit)/loss on disposal of fixed assets (1,243 ) 200,984
Goodwill amortisation 29,290 29,290
Auditors' remuneration 18,500 14,300
Foreign exchange differences (4,201 ) 10,290

7. Interest payable and similar expenses
Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Bank interest 169,501 151,164
Interest payable 1,903 -
Hire purchase 495 2,960
171,899 154,124

8. Taxation

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Current tax:
UK corporation tax 486,183 482,989
(Over)/under provision PY 10,434 -
Total current tax 496,617 482,989

Deferred tax 32,220 (27,646 )
Tax on profit 528,837 455,343

UK corporation tax has been charged at 25 % (2024 - 24.03 %).

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


8. Taxation - continued

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

Period Period
27/1/24 28/1/23
to to
31/1/25 26/1/24
£    £   
Profit before tax 1,936,348 1,949,642
Profit multiplied by the standard rate of corporation tax in the UK of 25 %
(2024 - 24.030 %)

484,087

468,499

Effects of:
Expenses not deductible for tax purposes 44,432 (11,203 )
Income not taxable for tax purposes (67,223 ) (160 )
Depreciation in excess of capital allowances 24,887 -
Adjustments to tax charge in respect of previous periods 10,434 251
Effect of change in corporation tax rate - (1,085 )
Other - 4
Super deduction - 30% uplift - (963 )
Deferred tax 32,220 -
Total tax charge 528,837 455,343

The tax charge has moved from a marginal rate applied in the prior year to 25% which is the rate enacted for the full period for the group.

Frank King Holdings Limited were taxed using the marginal rate relief.

9. Individual statement of comprehensive income

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. Dividends

2025 2024
£    £
Final paid 408,009 533,724

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


11. Intangible fixed assets

Group
Goodwill
£   
Cost
At 27 January 2024
and 31 January 2025 292,899
Amortisation
At 27 January 2024 175,740
Amortisation for period 29,290
At 31 January 2025 205,030
Net book value
At 31 January 2025 87,869
At 26 January 2024 117,159

12. Tangible fixed assets

Group
Freehold Short Plant and
property leasehold machinery
£    £    £   
Cost
At 27 January 2024 3,228,545 511,333 3,302,774
Additions 2,161,466 - 233,858
Disposals - - (34,143 )
At 31 January 2025 5,390,011 511,333 3,502,489
Depreciation
At 27 January 2024 485,965 47,789 2,419,406
Charge for period 56,498 4,398 256,722
Eliminated on disposal - - (22,049 )
At 31 January 2025 542,463 52,187 2,654,079
Net book value
At 31 January 2025 4,847,548 459,146 848,410
At 26 January 2024 2,742,580 463,544 883,368

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


12. Tangible fixed assets - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 27 January 2024 104,031 429,085 7,575,768
Additions 75 51,744 2,447,143
Disposals - (21,354 ) (55,497 )
At 31 January 2025 104,106 459,475 9,967,414
Depreciation
At 27 January 2024 45,514 378,398 3,377,072
Charge for period 14,648 55,119 387,385
Eliminated on disposal - (21,354 ) (43,403 )
At 31 January 2025 60,162 412,163 3,721,054
Net book value
At 31 January 2025 43,944 47,312 6,246,360
At 26 January 2024 58,517 50,687 4,198,696

Included in land and buildings is land at a cost of £242,610 which is not depreciated.

Company
Freehold
property
£   
Cost
At 27 January 2024 1,250,993
Additions 2,156,964
At 31 January 2025 3,407,957
Depreciation
At 27 January 2024 119,326
Charge for period 22,019
At 31 January 2025 141,345
Net book value
At 31 January 2025 3,266,612
At 26 January 2024 1,131,667

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


13. Fixed asset investments

Group
Interest
in joint
venture
£   
Cost
At 27 January 2024 452,410
Share of profit/(loss) 150,826
At 31 January 2025 603,236
Net book value
At 31 January 2025 603,236
At 26 January 2024 452,410
Company
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
Cost
At 27 January 2024
and 31 January 2025 3,350,000 100,000 3,450,000
Net book value
At 31 January 2025 3,350,000 100,000 3,450,000
At 26 January 2024 3,350,000 100,000 3,450,000

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Frank King (Wigan) Limited
Registered office: 69 Queen Street, Wigan WN3 4HX
Nature of business:
%
Class of shares: holding
Ordinary 100.00
2025 2024
£    £   
Aggregate capital and reserves 4,845,530 4,083,392
Profit for the period 1,170,147 1,274,850

This is a 100% indirect holding. The investment is held by Value Meats Limited.

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


13. Fixed asset investments - continued

Value Meats Limited
Registered office: 69 Queen Street, Wigan WN3 4HX
Nature of business:
%
Class of shares: holding
Ordinary 100.00
2025 2024
£    £   
Aggregate capital and reserves 222,133 222,133
Profit for the period 408,009 533,724


14. Investment property

Group
Total
£   
Fair value
At 27 January 2024
and 31 January 2025 499,200
Net book value
At 31 January 2025 499,200
At 26 January 2024 499,200

Company
Total
£   
Fair value
At 27 January 2024
and 31 January 2025 499,200
Net book value
At 31 January 2025 499,200
At 26 January 2024 499,200

15. Stocks

Group
2025 2024
£    £   
Stocks 1,564,087 1,042,567

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


16. Debtors: amounts falling due within one year

Group Company
2025 2024 2025 2024
£    £    £    £   
Trade debtors 1,879,047 1,999,274 9,600 1,353
Other debtors 66,909 63,749 250 250
VAT 22,668 - 22,668 -
Prepayments and accrued income 138,031 152,442 523 -
2,106,655 2,215,465 33,041 1,603

17. Creditors: amounts falling due within one year

Group Company
2025 2024 2025 2024
£    £    £    £   
Bank loans and overdrafts (see note 19) 1,721,541 409,163 1,372,542 73,039
Hire purchase contracts (see note 20) - 31,437 - -
Trade creditors 1,276,573 1,165,236 17 2,403
Amounts owed to group undertakings - - 1,471,595 689,234
Corporation tax 316,493 483,055 20,234 24,255
Social security and other taxes 95,571 70,415 - -
VAT - 10,912 - 10,912
Proposed dividends - 101,332 - -
Other creditors 61,512 58,687 - -
Accruals and deferred income 197,718 279,108 62,318 23,726
Deferred government grants 16,373 16,372 - -
3,685,781 2,625,717 2,926,706 823,569

18. Creditors: amounts falling due after more than one year

Group Company
2025 2024 2025 2024
£    £    £    £   
Bank loans (see note 19) 1,768,091 2,200,043 841,058 917,522

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


19. Loans

An analysis of the maturity of loans is given below:

Group Company
2025 2024 2025 2024
£    £    £    £   
Amounts falling due within one year or on demand:
Bank loans 1,721,541 409,163 1,372,542 73,039
Amounts falling due between one and two years:
Bank loans - 1-2 years 336,279 425,541 79,610 76,542
Amounts falling due between two and five years:
Bank loans - 2-5 years 626,850 999,699 258,618 334,904
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 804,962 774,803 502,830 506,076

The group bank loans are secured by fixed and floating charges over the group's assets.

The company's loans are secured by fixed and floating charges over the company's assets.

The details of the loans due after 5 years are as follows.

The group has a base plus 2% variable loan repayable by August 2030, a 4.65% fixed rate loan repayable by January 2028, a variable base plus 2% by January 2038.

The company has a base plus 3.12% fixed rate loan repayable by December 2035, and a variable loan with interest rate 2.1% above the the base rate repayable by November 2032.

20. Leasing agreements

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2025 2024
£    £   
Net obligations repayable:
Within one year - 31,437

Group
Non-cancellable operating leases
2025 2024
£    £   
Within one year 283,690 162,266
Between one and five years 723,696 211,925
In more than five years 458,031 318,600
1,465,417 692,791

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


21. Secured debts

The following secured debts are included within creditors:

Group
2025 2024
£    £   
Bank loans 3,489,632 2,609,206

The company bank loans are secured by fixed and floating charges over the company's assets.

The group bank loans are secured by fixed and floating charges over the group's assets.

22. Financial instruments

At the year end, the total carrying amount of outstanding foreign exchange forward contracts that the group has committed to is £300,854 (2024: £79,246).

No asset or liability has been recognised as the directors do not believe the impact to be material to the financial statements.

23. Provisions for liabilities

Group
2025 2024
£    £   
Deferred tax 337,835 305,615

Group
Deferred
tax
£   
Balance at 27 January 2024 305,615
Charge to Statement of Comprehensive Income during period 32,220
Balance at 31 January 2025 337,835

The deferred tax liability will unwind as the assets, that qualified for capital allowances, are depreciated.

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


24. Called up share capital

Allotted and issued:
Number: Class: Nominal 2025 2024
value: £    £   
41,881,250 Ordinary B £0.01 418,812.50 670,100
41,881,250 Ordinary C £0.01 418,812.50 335,050
41,881,250 Ordinary D £0.01 418,812.50 335,050
41,881,250 Ordinary E £0.01 418,812.50 335,050


1,675,250 1,675,250

All shares have full voting rights, full rights to participate in a distribution of income and capital and are non-redeemable.

There was a share re-organisation in the year. There is no change to the share cost. There was no further consideration receivable as a result of the re-organisation.

25. Reserves

Group
Retained
earnings
£   

At 27 January 2024 2,812,296
Profit for the period 1,407,511
Dividends (408,009 )
At 31 January 2025 3,811,798

Company
Retained
earnings
£   

At 27 January 2024 1,695,101
Profit for the period 523,837
Dividends (408,009 )
At 31 January 2025 1,810,929


26. Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £121,151 (2024: £100,796). Contributions totalling £3,720 (2024: £8,798) were payable to the fund at the reporting date.

FRANK KING HOLDINGS LIMITED (REGISTERED NUMBER: 11144669)

Notes to the Consolidated Financial Statements - continued
for the Period 27 January 2024 to 31 January 2025


27. Financial commitments, guarantees and contingent liabilities

HSBC Bank PLC hold an unlimited multilateral guarantee dated 23 January 2018 between Frank King (Wigan) Limited, Value Meats Limited and Frank King Holdings Limited. The company liability in respect of the guarantee is £1,109,774 (2024: £555,549).

HSBC Bank PLC also hold a guarantee dated 16 October 2019 in favour of HMRC for £140,000.