REGISTERED NUMBER: 02520332 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HFP FOODS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

J P Browning

REGISTERED OFFICE:

Betton Mill

Betton Road

Market Drayton

Shropshire

TF9 1HH

REGISTERED NUMBER:

02520332 (England and Wales)

AUDITORS:

Fairhurst Audit Services Ltd

Statutory Auditor

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

BANKERS:

National Westminster Bank Plc

42 Chester Street

Market Drayton

Shropshire

TF9 1PG

FIXED ASSETS

Tangible assets

4

178,533

203,559

Investments

5

239,500

239,500

418,033

443,059

CURRENT ASSETS

Debtors

6

1,203,109

995,004

Cash at bank

527,147

454,462

1,730,256

1,449,466

CREDITORS

Amounts falling due within one year

7

1,295,222

1,117,414

NET CURRENT ASSETS

435,034

332,052

TOTAL ASSETS LESS CURRENT LIABILITIES

853,067

775,111

PROVISIONS FOR LIABILITIES

15,873

21,232

NET ASSETS

837,194

753,879

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Capital redemption reserve

20

20

Retained earnings

827,174

743,859

SHAREHOLDERS' FUNDS

837,194

753,879

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 September 2025 and were signed by:

J P Browning - Director

1.	STATUTORY INFORMATION

HFP 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

We have reviewed the management accounts and cash flows up to the date of signing the audit report and concur with the directors assessment that it remains appropriate to prepare these financial statements on a going concern basis.

Turnover

Turnover represents the net invoice value of goods sold and services provided, excluding value added tax.

Revenue from sale of goods is recognised when the Company has transferred to the buyer the significant risks and rewards of ownership of the goods.

Rental income is accrued on a time basis, by reference to the agreements entered.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

171,974

43,774

105,128

320,876

DEPRECIATION

At 1 January 2024

54,408

36,627

26,282

117,317

Charge for year

3,399

1,915

19,712

25,026

At 31 December 2024

57,807

38,542

45,994

142,343

NET BOOK VALUE

At 31 December 2024

114,167

5,232

59,134

178,533

At 31 December 2023

117,566

7,147

78,846

203,559

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

239,500

NET BOOK VALUE

At 31 December 2024

239,500

At 31 December 2023

239,500

Cost or valuation at 31 December 2024 is represented by:

Shares in

group

undertakings

£

Cost

239,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,197,021

989,730

Other debtors

6,088

5,274

1,203,109

995,004

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,197,767

1,079,872

Taxation and social security

67,470

12,432

Other creditors

29,985

25,110

1,295,222

1,117,414

8.	SECURED DEBTS

National Westminster Bank plc holds a debenture over all current and future assets of the company.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mrs Jane Dennis BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Fairhurst Audit Services Ltd

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

J P Browning

Balance outstanding at start of year

(301

)

758

Amounts advanced

1,704

5,748

Amounts repaid

(6,857

)

(6,807

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(5,454

)

(301

)

11.	ULTIMATE CONTROLLING PARTY

The controlling party is HFP 2012 Limited.

The ultimate controlling party is J P Browning.