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Registered number:
FOR THE YEAR ENDED 31 OCTOBER 2024
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FARMFRESH FILLINGS LIMITED
COMPANY INFORMATION
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FARMFRESH FILLINGS LIMITED
CONTENTS
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FARMFRESH FILLINGS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
The Directors present their Strategic report for the year ended 31 October 2024.
The key financial highlights are as follows:
Looking ahead, FarmFresh Fillings Ltd anticipates some challenges, particularly the rise in the national minimum wage and the increase in employer national insurance contributions. To mitigate some of the impact of rising national insurance payments, the company will be introducing a pension salary sacrifice scheme. Furthermore, the company will continue to closely monitor gross margins to ensure they remain as profitable as possible, given the volatility in market conditions. Despite these challenges, the company remains confident in its ability to navigate the changing economic environment while maintaining its commitment to growth and profitability.
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FARMFRESH FILLINGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
The company's principal financial instruments comprise bank balances, trade creditors and debtors. The
main purpose of these instruments is to raise funds for the company's operations and to finance the company's operations. 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 risk. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. The company is exposed to price risk as a result of its operations, in particular fluctuations in meat prices. The company manages price risk by reviewing the price of goods with various suppliers ensuring that they are receiving a competitive price and that price increases are passed onto the customer. The company also reviews the market prices to ensure that they remain competitive.
The company is in a strong financial position at the balance sheet date and projected ongoing trading levels and
profitability has been reviewed by the directors. Management utilise rolling projection models, as sensitised for various economic uncertainties and anticipated customer demand. Projected profitability and cash flow for the remainder of the financial year to October 2025 and beyond are considered to be satisfactory and the directors consider the company to be a going concern.
This report was approved by the board on 14 July 2025 and signed on its behalf.
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FARMFRESH FILLINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
The directors present their report and the financial statements for the year ended 31 October 2024.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
The profit for the year, after taxation, amounted to £1,101,505 (2023 - £634,200).
No dividends will be distributed for the year ended 31 October 2024.
The directors who served during the year were:
The principal activity of the company in the year under review was the manufacturing of food products.
Included in the company's strategic report is a review of the business, details in relation to the risk management policies in respect of financial instruments and a description of the principal risks and uncertainties facing the company.
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FARMFRESH FILLINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
There have been no significant events affecting the Company since the year end.
The auditor, MHA, previously traded through the legal entity MacIntyre Hudson LLP. In response to regulatory
changes, MacIntyre Hudson LLP ceased to hold an audit registration with the engagement transitioning to MHA Audit Services LLP. MHA will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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FARMFRESH FILLINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARMFRESH FILLINGS LIMITED
We have audited the financial statements of FARMFRESH FILLINGS LIMITED (the 'Company') for the year ended 31 October 2024, which comprise the Statement of comprehensive income, the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, 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).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
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.
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FARMFRESH FILLINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARMFRESH FILLINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
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FARMFRESH FILLINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARMFRESH FILLINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
- Enquiry of management and those charged with governance around actual, potential or suspected litigation, claims, non-compliance with applicable laws and regulations and fraud.
- Review of legal and professional fees for evidence of legal work undertaken or fines/penalties incurred. - Enquiry of entity staff in compliance functions and external advisors to identify any instances of non-compliance with laws and regulations. - Reviewing of financial statements disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. - Performing audit work over the risk of management override, including testing of journal entries and other adjustments for appropriateness; - evaluating the business rationale of significant transactions outside the normal course of business; and - An assessment of the methodologies used in order to calculate the estimate/provision at the year end for evidence of bias. - The accounting policy was checked to the financial reporting standards where necessary and confirmed to be appropriate; - Reviewing accounting estimates for bias; - Discussions amongst the engagement team in relation to how and where fraud might occur in the financial statements and any potential indicators of fraud; - Discussions with management over any potential or suspected fraud. - Performing audit work over the recognition of revenue on dispatch of goods occurring at the year end to provide assurance over cut-off; - Performing substantive tests of detail over the completeness/existence of income within the financial system; - Performing audit work on the design and implementation of key controls around the recording of income.
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 Auditor's report.
The financial statements for the year ended 31 October 2023 were unaudited.
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FARMFRESH FILLINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FARMFRESH FILLINGS LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory auditor
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales(registered number OC455542).
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FARMFRESH FILLINGS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2024
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FARMFRESH FILLINGS LIMITED
REGISTERED NUMBER: 04239336
BALANCE SHEET
AS AT 31 OCTOBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 14 to 27 form part of these financial statements.
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