REGISTERED NUMBER: 04551594 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

A & J AUDHALI FRESH FARM FOODS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

A A Audhali

J A Audhali

SECRETARY:

J A Audhali

REGISTERED OFFICE:

14 Harriott Drive

Heathcote Industrial Estate

Warwick

Warwickshire

CV34 6TJ

REGISTERED NUMBER:

04551594 (England and Wales)

AUDITORS:

Landin Wilcock & Co

Chartered Accountants

Queen Street Chambers

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

BANKERS:

Lloyds Bank plc

12 Swan Street

Warwick

CV34 4BJ

The directors present their strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS

During the year the company's turnover increased by 26% from £30,356,058 to £38,183,938 and a profit before taxation of £2,165,131 (2024: £2,737,180) was achieved.

Shareholders' funds at 31 January 2025 amounted to £5,117,473 (2024: £4,811,418). The directors consider the state of affairs of the company to be satisfactory.

PRINCIPAL RISKS AND UNCERTAINTIES

The company's principal exposure to risks are through pricing volatility, both as a result of changes in prices of products and through exchange rate fluctuations, as management are in part reliant on suppliers based overseas.

Management are mindful of these key risks to the business and have adopted strategies, which include: continued scrutiny of pricing and rates of exchange; sourcing of product from various suppliers; and management of its purchase cycle.

Management also acknowledge exposure to interest rate and credit risks and these are also assessed continuously in order to minimise their impact.

FUTURE DEVELOPMENTS

Continued impact of Brexit

The directors are pleased at how the well the company has been able to trade throughout 2024/25, when the impacts of Brexit continued to be felt across the UK.

Given how well the company has managed to trade during this period, the directors are confident that the company will still be profitable in the forthcoming 12 months and beyond although, even now, some uncertainties persist.

The directors are still mindful of the impact of the UK's exit from the European Union and these associated risks have been embedded into the company's risk assessments. Nevertheless, the impact of "Brexit" is still being felt across the sector with supply lead times throughout 2024/25 continuing to be the most acute of the limiting factors on trading. However, the directors believe the company is relatively insulated in the medium term against this and the other risks related to "Brexit", as the company overwhelmingly trades in the UK and has strong and well established supply links with its suppliers and manufacturers, some of who are in the European Union.

As such, the directors believe the company to be a going concern and have adopted this assumption in preparing the financial statements, having considered any material uncertainties in this regard for a period of at least 12 months from the date of approval of these financial statements.

KEY PERFORMANCE INDICATORS

The Directors use several Key Performance Indicators to assess the company's strategy and performance.

Turnover is closely monitored on a weekly basis and measured against previous periods by total level achieved and by customer.

Margins achieved by product line and by customer are also regularly reviewed by management.

Driver performance and customer satisfaction are also key metrics used by the business on a regular basis.

ON BEHALF OF THE BOARD:

J A Audhali - Director

8 August 2025

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of meat wholesalers to the catering industry.

DIVIDENDS

The total distribution of dividends for the year ended 31 January 2025 will be £1,316,538.

DIRECTORS

The directors during the year under review were:

A A Audhali

J A Audhali

The directors holding office at 31 January 2025 did not hold any beneficial interest in the issued share capital of the company at 1 February 2024 or 31 January 2025.

DISCLOSURE IN THE STRATEGIC REPORT

The company's review of business, principal risks and uncertainties and future developments are disclosed within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

J A Audhali - Director

8 August 2025

Opinion

We have audited the financial statements of A & J Audhali Fresh Farm Foods Limited (the 'company') for the year ended 31 January 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

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

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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:

- minimal reliance was placed upon the operating effectiveness of internal controls in the design and performance of our substantive procedures;

- discussions were held with management considering known or suspected non-compliance with laws, regulations and fraud;

- journal entries were reviewed for any entries made outside the ordinary reporting processes with particular emphasis on those with unusual account combinations, entries crediting turnover and those without specific descriptions;

- management assumptions in their significant accounting estimates were challenged and scrutinised, including establishing auditor's estimates.

There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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.

Tom Henshaw (Senior Statutory Auditor)

for and on behalf of Landin Wilcock & Co

Chartered Accountants

Queen Street Chambers

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

29 August 2025

TURNOVER

3

38,183,938

30,356,058

Cost of sales

33,486,158

25,579,574

GROSS PROFIT

4,697,780

4,776,484

Administrative expenses

2,715,018

2,170,814

1,982,762

2,605,670

Other operating income

22,394

25,349

OPERATING PROFIT

5

2,005,156

2,631,019

Interest receivable and similar income

180,135

123,257

2,185,291

2,754,276

Interest payable and similar expenses

6

20,160

17,096

PROFIT BEFORE TAXATION

2,165,131

2,737,180

Tax on profit

7

542,538

693,056

PROFIT FOR THE FINANCIAL YEAR

1,622,593

2,044,124

PROFIT FOR THE YEAR

1,622,593

2,044,124

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,622,593

2,044,124

FIXED ASSETS

Tangible assets

9

701,540

594,972

CURRENT ASSETS

Stocks

10

648,790

645,885

Debtors

11

1,985,493

1,136,410

Cash at bank

5,629,941

5,741,835

8,264,224

7,524,130

CREDITORS

Amounts falling due within one year

12

3,614,201

3,120,456

NET CURRENT ASSETS

4,650,023

4,403,674

TOTAL ASSETS LESS CURRENT LIABILITIES

5,351,563

4,998,646

CREDITORS

Amounts falling due after more than one year

13

(65,106

)

(43,672

)

PROVISIONS FOR LIABILITIES

16

(168,984

)

(143,556

)

NET ASSETS

5,117,473

4,811,418

CAPITAL AND RESERVES

Called up share capital

17

101

101

Retained earnings

18

5,117,372

4,811,317

SHAREHOLDERS' FUNDS

5,117,473

4,811,418

The financial statements were approved by the Board of Directors and authorised for issue on 8 August 2025 and were signed on its behalf by:

J A Audhali - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

101

4,058,864

4,058,965

Changes in equity

Dividends

-

(1,291,671

)

(1,291,671

)

Total comprehensive income

-

2,044,124

2,044,124

Balance at 31 January 2024

101

4,811,317

4,811,418

Changes in equity

Dividends

-

(1,316,538

)

(1,316,538

)

Total comprehensive income

-

1,622,593

1,622,593

Balance at 31 January 2025

101

5,117,372

5,117,473

1.	STATUTORY INFORMATION

A & J Audhali Fresh Farm Foods 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 Company Information page.

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.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

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 group companies.

Critical accounting judgements and key sources of estimation uncertainty

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Accounting judgements:

i) Operating leases

The company utilises assets which it does not own and pays for on an ongoing basis. In making the judgement as to whether such arrangements constitute finance leases or operating leases, management have assessed where the substantial risk and rewards of the ownership of the assets fall, and assessed that the counter-party, rather than the company, bears substantially all of the risks and rewards of ownership of the assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of returns, rebates, VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on delivery of the goods.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Security office

-

10% on reducing balance

Plant and machinery

-

10% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33.3% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition, including any import costs, duties and carriage.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

3.

TURNOVER

Turnover is entirely attributable to the one principal activity of the company and the geographical market relates solely to the United Kingdom.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

1,182,615

910,815

Social security costs

114,321

83,382

Other pension costs

25,251

21,170

1,322,187

1,015,367

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

2025

2024

Warehouse and distribution

30

24

Finance and administration

5

5

Management

2

2

37

31

2025

2024

£

£

Directors' remuneration

61,512

24,517

5.	OPERATING PROFIT

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

2025

2024

£

£

Other operating leases

-

5,626

Depreciation - owned assets

122,237

78,535

Depreciation - assets on hire purchase contracts

62,137

65,449

Loss/(profit) on disposal of fixed assets

1,317

(13,547

)

Auditors' remuneration

12,075

9,500

Operating leases - land and buildings

140,000

140,000

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Other interest paid

9,872

6,061

Hire purchase

10,288

11,035

20,160

17,096

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

517,109

658,466

Corporation tax prior years

-

66

Total current tax

517,109

658,532

Deferred tax

25,429

34,524

Tax on profit

542,538

693,056

UK corporation tax has been charged at 25% (2024 - 24%).

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

2,165,131

2,737,180

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 24%)

541,283

656,923

Effects of:

Expenses not deductible for tax purposes

1,255

697

Income not taxable for tax purposes

-

(3,251

)

Depreciation in excess of capital allowances

-

38,621

Adjustments to tax charge in respect of previous periods

-

66

Total tax charge

542,538

693,056

During the year the UK corporation tax rate has been charged at 25% (2024: 24%).

The effective tax rate for the year under review was 25%.

8.

DIVIDENDS

2025

2024

£

£

Ordinary "A" shares of £1 each

Interim

1,241,467

1,216,600

Ordinary "B" share of £1

Interim

75,071

75,071

1,316,538

1,291,671

9.	TANGIBLE FIXED ASSETS

Security

Plant and

Office

office

machinery

equipment

£

£

£

COST

At 1 February 2024

5,012

433,856

20,188

Additions

-

7,691

13,021

Disposals

-

-

-

At 31 January 2025

5,012

441,547

33,209

DEPRECIATION

At 1 February 2024

952

186,133

15,949

Charge for year

406

25,542

4,315

Eliminated on disposal

-

-

-

At 31 January 2025

1,358

211,675

20,264

NET BOOK VALUE

At 31 January 2025

3,654

229,872

12,945

At 31 January 2024

4,060

247,723

4,239

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2024

926,807

47,592

1,433,455

Additions

271,384

12,163

304,259

Disposals

(17,756

)

-

(17,756

)

At 31 January 2025

1,180,435

59,755

1,719,958

DEPRECIATION

At 1 February 2024

597,585

37,864

838,483

Charge for year

146,822

7,289

184,374

Eliminated on disposal

(4,439

)

-

(4,439

)

At 31 January 2025

739,968

45,153

1,018,418

NET BOOK VALUE

At 31 January 2025

440,467

14,602

701,540

At 31 January 2024

329,222

9,728

594,972

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 February 2024

734,756

Additions

100,000

Transfer to ownership

(215,785

)

At 31 January 2025

618,971

DEPRECIATION

At 1 February 2024

538,407

Charge for year

62,137

Transfer to ownership

(167,984

)

At 31 January 2025

432,560

NET BOOK VALUE

At 31 January 2025

186,411

At 31 January 2024

196,349

10.

STOCKS

2025

2024

£

£

Finished goods

648,790

645,885

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,823,932

986,738

Other debtors

1,000

7,217

Tax

89,637

89,637

VAT

44,633

29,237

Prepayments

26,291

23,581

1,985,493

1,136,410

An impairment loss of £50,707 (2024: £2,565) was recognised against trade debtors during the year.

All debtors are financial assets that are measured at amortised cost.