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REGISTERED NUMBER: 16119089 (England and Wales)













GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025

FOR

SEVERALS HOLDINGS LTD

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Consolidated Statement of Comprehensive Income 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


SEVERALS HOLDINGS LTD

COMPANY INFORMATION
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025







DIRECTORS: S R W Rowley
Mrs L M Rowley





REGISTERED OFFICE: Unit 13
Pexton Road
Kelleythorpe
Driffield
YO25 9FR





REGISTERED NUMBER: 16119089 (England and Wales)





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

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

GROUP STRATEGIC REPORT
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


The directors present their strategic report of the company and the group for the period 4 December 2024 to 31 March 2025.

REVIEW OF BUSINESS
The results for the period and financial position of the group are as shown in the annexed financial statements.

The key financial highlights are as follows:
2025
£   

Turnover 28,885
Gross profit 1,290
Profit before tax 439
Cash reserves 1,900
Net assets 4,199

The directors of the group consider the results for the year to be satisfactory.

The directors expect trading to continue being difficult in the current year in view of the volatility of grain prices but believe they have the experience and asset backing to ensure that the group will be in a position to continue trading profitably.

KEY PERFORMANCE INDICATORS
2025

Gross Profit Margin 4%

Net Profit Margin 2%

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


SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

GROUP STRATEGIC REPORT
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025

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

Due to the nature of the financial instruments used by the group there is no exposure risk to price risk. The group's approach to managing other risks applicable to the financial instruments concerned 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 bank current and deposit accounts.

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 amounts due.

ON BEHALF OF THE BOARD:





S R W Rowley - Director


4 July 2025

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

REPORT OF THE DIRECTORS
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


The directors present their report with the financial statements of the company and the group for the period 4 December 2024 to 31 March 2025.

INCORPORATION
The group was incorporated on 4 December 2024 and commenced trading on 21 March 2025.

PRINCIPAL ACTIVITY
The principal activity of the group in the period under review was that of corn and seed merchants.

DIVIDENDS
Interim dividends of £102,500 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 year ended 31 March 2025 will be £102,500.

DIRECTORS
The directors who have held office during the period from 4 December 2024 to the date of this report are as follows:

S R W Rowley - appointed 4 December 2024
Mrs L M Rowley - appointed 4 December 2024

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

DISCLOSURE IN THE STRATEGIC REPORT
The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial instruments.

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.

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

REPORT OF THE DIRECTORS
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


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

ON BEHALF OF THE BOARD:





S R W Rowley - Director


4 July 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SEVERALS HOLDINGS LTD


Opinion
We have audited the financial statements of Severals Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 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 March 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 directors are responsible for the other information. The other information comprises the information in the Group 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 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
SEVERALS HOLDINGS LTD


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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
SEVERALS HOLDINGS LTD


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
- trade assurance schemes

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 trade assurance scheme compliance records.

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

10 July 2025

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

CONSOLIDATED
STATEMENT OF COMPREHENSIVE
INCOME
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025

Notes £   

TURNOVER 3 28,884,841

Cost of sales (27,594,828 )
GROSS PROFIT 1,290,013

Administrative expenses (853,344 )
436,669

Other operating income 4 6,212
OPERATING PROFIT 6 442,881

Interest receivable and similar income 4,088
446,969

Interest payable and similar expenses 7 (7,599 )
PROFIT BEFORE TAXATION 439,370

Tax on profit 8 (151,036 )
PROFIT FOR THE FINANCIAL PERIOD 288,334

OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME FOR
THE PERIOD

288,334

Profit attributable to:
Owners of the parent 288,334

Total comprehensive income attributable to:
Owners of the parent 288,334

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

CONSOLIDATED BALANCE SHEET
31 MARCH 2025

Notes £   
FIXED ASSETS
Tangible assets 11 2,538,301
Investments 12 -
2,538,301

CURRENT ASSETS
Stocks 13 215,442
Debtors 14 2,615,827
Cash at bank and in hand 1,900,131
4,731,400
CREDITORS
Amounts falling due within one year 15 (2,677,574 )
NET CURRENT ASSETS 2,053,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,592,127

CREDITORS
Amounts falling due after more than one
year

16

(79,184

)

PROVISIONS FOR LIABILITIES 20 (313,926 )
NET ASSETS 4,199,017

CAPITAL AND RESERVES
Called up share capital 21 2,240
Capital redemption reserve 22 7,060
Retained earnings 22 4,189,717
SHAREHOLDERS' FUNDS 4,199,017

The financial statements were approved by the Board of Directors and authorised for issue on 4 July 2025 and were signed on its behalf by:




S R W Rowley - Director



Mrs L M Rowley - Director


SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

COMPANY BALANCE SHEET
31 MARCH 2025

Notes £   
FIXED ASSETS
Tangible assets 11 1,215,668
Investments 12 2,240
1,217,908

CREDITORS
Amounts falling due within one year 15 (106,500 )
NET CURRENT LIABILITIES (106,500 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,111,408

PROVISIONS FOR LIABILITIES 20 (15,774 )
NET ASSETS 1,095,634

CAPITAL AND RESERVES
Called up share capital 21 2,240
Retained earnings 22 1,093,394
SHAREHOLDERS' FUNDS 1,095,634

Company's profit for the financial year 1,195,894

The financial statements were approved by the Board of Directors and authorised for issue on 4 July 2025 and were signed on its behalf by:




S R W Rowley - Director



Mrs L M Rowley - Director


SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   

Changes in equity
Issue of share capital 2,240 - - 2,240
Dividends - (102,500 ) - (102,500 )
Total comprehensive income - 288,334 - 288,334
Balance at 31 March 2025 2,240 185,834 - 188,074

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 2,240 - 2,240
Dividends - (102,500 ) (102,500 )
Total comprehensive income - 1,195,894 1,195,894
Balance at 31 March 2025 2,240 1,093,394 1,095,634

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025

Notes £   
Cash flows from operating activities
Cash generated from operations 1 1,173,690
Interest paid (7,599 )
Tax paid (154,688 )
Net cash from operating activities 1,011,403

Cash flows from investing activities
Purchase of tangible fixed assets (428,557 )
Sale of tangible fixed assets 2,750
Interest received 4,088
Net cash inflow from acquisitions 2,150,833
Net cash from investing activities 1,729,114

Cash flows from financing activities
Loan repayments in year (37,874 )
Amount introduced by directors 7,500
Amount withdrawn by directors (55,043 )
Share buyback (subsidiary) (606,430 )
Equity dividends paid (148,539 )
Net cash from financing activities (840,386 )

Increase in cash and cash equivalents 1,900,131
Cash and cash equivalents at
beginning of period

2

-

Cash and cash equivalents at end of
period

2

1,900,131

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

£   
Profit before taxation 439,370
Depreciation charges 433,199
Profit on disposal of fixed assets (2,750 )
Finance costs 7,599
Finance income (4,088 )
873,330
Decrease in stocks 151,913
Increase in trade and other debtors (3,391 )
Increase in trade and other creditors 151,838
Cash generated from operations 1,173,690

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 March 2025
31/3/25 4/12/24
£    £   
Cash and cash equivalents 1,900,131 -


3. ANALYSIS OF CHANGES IN NET FUNDS

At 4/12/24 Cash flow At 31/3/25
£    £    £   
Net cash
Cash at bank and in hand - 1,900,131 1,900,131
- 1,900,131 1,900,131
Debt
Debts falling due within 1 year - (40,635 ) (40,635 )
Debts falling due after 1 year - (79,184 ) (79,184 )
- (119,819 ) (119,819 )
Total - 1,780,312 1,780,312

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


1. STATUTORY INFORMATION

Severals Holdings Ltd ("the Company") is a private company limited by shares. The Company is incorporated and domiciled in England and Wales. Its company registration number is 16119089. The registered office of the company is Unit 13, Pexton Road, Kelleythorpe, Driffield, East Yorkshire, YO25 9FR.

The group consists of Severals Holdings Ltd and its subsidiary company.

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.

Basis of consolidation
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the goods are physically delivered to the customer.

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Freehold land is not depreciated. Depreciation of other tangible fixed assets is provided on the straight line basis in order to write off the valuation/cost of each asset over its estimated useful life as follows:

Per annum
%
Freehold buildings 5
Plant and machinery7.5
Fixtures, fittings and office equipment10-25
Motor vehicles25

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.

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.

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

3. 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:

£   
Sale of goods 27,123,177
Services 1,761,664
28,884,841

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


4. OTHER OPERATING INCOME
£   
Solar panel income 6,212

5. EMPLOYEES AND DIRECTORS
£   
Wages and salaries 615,345
Social security costs 61,686
Other pension costs 71,368
748,399

The average number of employees during the period was as follows:

Management and administration 6
Sales and distribution 16
22

£   
Directors' remuneration 113,978
Directors' pension contributions to money purchase schemes 33,080

6. OPERATING PROFIT

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

£   
Depreciation - owned assets 433,199
Profit on disposal of fixed assets (2,750 )
Auditors' remuneration 17,000
Auditors' remuneration for non audit work 9,980
Operating leases 9,938

7. INTEREST PAYABLE AND SIMILAR EXPENSES
£   
Other loan interest 7,417
VAT interest 29
Corporation tax interest 153
7,599

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
£   
Current tax:
UK corporation tax 150,018

Deferred tax 1,018
Tax on profit 151,036

UK corporation tax has been charged at 25 % .

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:

£   
Profit before tax 439,370
Profit multiplied by the standard rate of corporation tax in the UK of 25
%

109,843

Effects of:
Expenses not deductible for tax purposes 27,562
Depreciation in excess of capital allowances 16,257
Structures and buildings allowances (2,626 )
Total tax charge 151,036

The net reversal of deferred tax liabilities expected to occur in the next year is £88,297. This expected reversal is due to the movement in the accelerated capital allowances timing differences.

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

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


10. DIVIDENDS
£   
Ordinary shares of £1 each
Interim 102,500

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


11. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 4 December 2024 1,693,072 1,401,460 64,154 1,100,970 4,259,656
Additions 10,363 157,732 9,177 251,285 428,557
Disposals - - - (34,000 ) (34,000 )
At 31 March 2025 1,703,435 1,559,192 73,331 1,318,255 4,654,213
DEPRECIATION
At 4 December 2024 420,351 679,776 25,525 591,061 1,716,713
Charge for period 67,416 104,176 13,158 248,449 433,199
Eliminated on disposal - - - (34,000 ) (34,000 )
At 31 March 2025 487,767 783,952 38,683 805,510 2,115,912
NET BOOK VALUE
At 31 March 2025 1,215,668 775,240 34,648 512,745 2,538,301
At 3 December 2024 1,272,721 721,684 38,629 509,909 2,542,943

Company
Freehold
property
£   
COST
Transfer from group company 1,703,435
At 31 March 2025 1,703,435
DEPRECIATION
Transfer from group company 487,767
At 31 March 2025 487,767
NET BOOK VALUE
At 31 March 2025 1,215,668

Included in cost of land and buildings is freehold land of £ 322,951 which is not depreciated.

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


12. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
Additions 2,240
At 31 March 2025 2,240
NET BOOK VALUE
At 31 March 2025 2,240

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

Subsidiary

James Mortimer Limited
Registered office: Unit 13, Pexton Road, Kelleythorpe Industrial Estate, Driffield, East Yorkshire, YO25 9DJ
Nature of business: Corn and seed merchants
%
Class of shares: holding
Ordinary 100.00


13. STOCKS


Group
£   
Raw materials 207,364
Finished goods 8,078
215,442

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group
£   
Trade debtors 2,472,881
Other debtors 77,172
Prepayments and accrued income 65,774
2,615,827

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£    £   
Other loans (see note 17) 40,635 -
Trade creditors 1,795,539 -
Tax 150,018 -
Social security and other taxes 14,038 -
VAT 46,246 -
Other creditors 415,654 95,000
Directors' loan accounts 27,552 7,500
Accruals and deferred income 187,892 4,000
2,677,574 106,500

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR


Group
£   
Other loans (see note 17) 79,184

17. LOANS

An analysis of the maturity of loans is given below:


Group
£   
Amounts falling due within one year or on demand:
Other loans 40,635
Amounts falling due between one and two years:
Other loans - 1-2 years 42,292
Amounts falling due between two and five years:
Other loans - 2-5 years 36,892

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


Group
Non-
cancellable
operating
leases
£   
Within one year 13,435
Between one and five years 9,781
23,216

19. SECURED DEBTS

The following secured debts are included within creditors:


Group
£   
Other loans 119,819

20. PROVISIONS FOR LIABILITIES


Group Company
£    £   
Deferred tax
Accelerated capital allowances 313,926 15,774

Group
Deferred
tax
£   
Charge to Statement of Comprehensive Income during period 1,018
Balance at 31 March 2025 1,018

Company
Deferred
tax
£   
Charge to Statement of Comprehensive Income during period 15,774
Balance at 31 March 2025 15,774

21. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
2,240 Ordinary £1 2,240

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


21. CALLED UP SHARE CAPITAL - continued

During the year, the company issued 2,240 ordinary shares of £1 each as consideration in a share-for-share exchange. The shares were issued at their nominal value of £1 per share, resulting in a total increase in share capital of £2,240. No share premium arose on the issue of these shares.

The above allotted, issued and fully paid ordinary share capital of the company consists of 1,090 Ordinary 'A' shares, 1,090 Ordinary 'B' shares, 30 Ordinary 'C' shares and 30 Ordinary 'D' shares.

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

22. RESERVES

Group
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 4 December 2024 4,003,883 7,060 4,010,943
Profit for the period 288,334 288,334
Dividends (102,500 ) (102,500 )
At 31 March 2025 4,189,717 7,060 4,196,777

Company
Retained
earnings
£   

Profit for the period 1,195,894
Dividends (102,500 )
At 31 March 2025 1,093,394


23. PENSION COMMITMENTS

The group operates defined contribution pension schemes on behalf of its directors and certain senior employees. The assets of the schemes are held separately from those of the group in independently administered funds. The pension cost for the period amounts to £2,151. Included in creditors at the year end is £1,890 of outstanding contributions.

24. CAPITAL COMMITMENTS
£   
Contracted but not provided for in the
financial statements 273,778

SEVERALS HOLDINGS LTD (REGISTERED NUMBER: 16119089)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 4 DECEMBER 2024 TO 31 MARCH 2025


25. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the entity
£   
Sales 140
Purchases 1,503
Amount due from related party 77,172

Other related parties
£   
Sales 640,725
Purchases 194
Other services provided 45,036
Amount due from related party 1,614,081

26. ULTIMATE CONTROLLING PARTY

Severals Holdings Ltd is held under the control of its directors.

27. BUSINESS COMBINATIONS

On 21 March 2025 Severals Holdings Ltd acquired the entire issued share capital of James Mortimer Limited, a company under common control, through a share-for-share exchange. This transaction is part of a group restructuring designed to simplify the group structure and align ownership within the group.

In accordance with paragraph 19.27 of FRS 102, the acquisition has been accounted for as a group reconstruction using merger accounting principles. As the transaction took place between entities under common control, the assets and liabilities of James Mortimer Limited have been incorporated into the consolidated financial statements at their existing book values as at the date of acquisition.

No fair value adjustments were made, and no goodwill has been recognised.

The consideration for the acquisition was the issue of 2,240 ordinary shares of £1 each in Severals Holdings Ltd, with an aggregate nominal value of £2,240.