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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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YORK HOUSE (MEAT PRODUCTS) LIMITED
COMPANY INFORMATION
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YORK HOUSE (MEAT PRODUCTS) LIMITED
CONTENTS
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YORK HOUSE (MEAT PRODUCTS) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors consider the performance of the business during the year to be satisfactory, particularly in light of the ongoing cost pressures and challenging consumer environment.
Turnover increased marginally to £43.1m (2023: £42.6m), while gross profit margin improved from 21.5% to 23.5%, reflecting continued focus on procurement discipline, product mix optimisation, and operational efficiencies. Distribution and administration costs were tightly managed despite inflationary pressures in labour, energy and logistics. The company delivered an operating profit of £0.66m compared with a small operating loss in the prior year, and the overall result for the year was a post-tax loss of £18k (2023: £564k loss). The group’s position was further strengthened post year-end by refinancing with a new finance provider, replacing the £2m overdraft and invoice discounting facilities. As part of this refinancing, accrued interest and legacy loans originally taken to support the business through the Covid period, which remained outstanding at the year end, were written off. This transaction significantly reduced liabilities and resulted in an increase in group net assets of approximately £8.8m. The refinancing also provides improved liquidity and flexibility for future trading, alongside a materially lower interest burden. During the year, the company continued to respond proactively to elevated raw material costs, energy volatility, and rising labour costs. The company has maintained a relentless focus on quality, health and safety, and has invested in innovation to win new opportunities with both existing and new customers. At the year end, the directors consider the company to be in a sound position for future trading, with strengthened financing arrangements, reduced leverage, and enhanced net assets providing a solid platform to navigate ongoing market challenges.
The management of the business and the execution of the company strategy are subject to a number of risks. The key risks are considered to be related to:
• Further disruption to key markets and consumer demand, as a result of continued input cost inflation and the squeeze on household incomes impacting on both out of home and in home dining expenditure; • Competition from both national and independent companies within the sector; • Ensuring that the company retains and recruits quality employees which is done by ensuring that an appropriate remuneration and training package is in place for all employees in a labour market that remains tight.
The business monitors performance primarily through the KPI of gross profit margin. Despite the factors stated above, the gross profit margin has increased from 21.5% to 23.5%.
The directors believe a continued focus on optimising internal efficiencies, safety and quality standards remains central to ensuring the business is in a good place to exploit market opportunities. The group will continue to further develop its good customer and supplier relationships, and its focus on innovation means that the company is expected take advantage of market conditions as they develop.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Greenhouse Gas Emissions and Energy Consumption
The company’s greenhouse gas emissions and energy consumption as per the latest assessment report were as follows: Activity Emissions for the financial period amounted to 41,151 tCO2e (2023: 35,932 tCO2e) categorised into Scope 1, 2 and 3 emissions. Scope 3 (indirect emissions is the largest part of our carbon footprint with roughly 95% (2023: 95%)) of the Group's emissions falling under the category. Scope 1: Direct emissions Relates to greenhouse gases released directly from sources that are owned or controlled by the company Scope 2: Indirect emissions Emissions resulting from the generation of purchased energy (electricity, steam, heating, or cooling) that the company consumes. Scope 3: Other indirect emissions (Value Chain) All other indirect emissions that are not included in Scope 2, occurring across a company’s value chain both upstream and downstream. York House Meat Products Limited is a growing SME food manufacturing with two sites in the UK. It handles over 5.5 thousand tonnes of meat to create a range of products of processed frozen meats and meals that it sells to retailers and wholesalers across the UK. This means that while its manufacturing process is energy intensive, with the use of ovens, cleaning processes etc, it is heavily exposed to very high agricultural supply chain emissions to supply it with the products that it produces. Globally, these emissions sources contribute up to approximately 21% of global greenhouse gas emissions. It is therefore unsurprising that in both reported years, Scope 3 (indirect emissions) is the largest part of York House Meat Products Limited’s carbon footprint, with over 90% of the company’s emissions falling under this category in 2023 and 2024. Our intensity ratio is 0.12. This ratio is based on Tons of CO2e per total £m sales revenue. Tonnes CO2e = 41,141 tCO2e Intensity Ratio = Tonnes CO2e / £m sales revenue Intensity Ratio = 41,141 Tonnes CO2e / £43.1m Intensity Ratio = 954.5 Section 172 Statement In line with Section 172 of the Companies Act 2006, the directors of York House Meat Products Ltd acknowledge their duty to act in good faith in a manner that promotes the long-term success of the Company for the benefit of its shareholders, while also considering the interests of wider stakeholders. These include, but are not limited to, employees, customers, suppliers, the communities in which we operate, and the environment. The following outlines how the board has fulfilled its responsibilities under Section 172 during the reporting period. Promoting the Success of the Company The board recognises that the sustained success of the business rests on a combination of strong financial performance, operational excellence, the well-being of our people, and trusted relationships across our supply chain and other key partners. Decisions taken during the year have been designed to maximise sustainable value creation, balancing short-term requirements with our long-term strategic objectives.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Key Stakeholders Shareholders As primary stakeholders, shareholders are kept engaged through regular communication with the directors. We remain focused on delivering sustainable returns through maintaining financial discipline, exploring new opportunities for growth, and ensuring operational efficiency across the business. Employees Our people remain central to our success, and we continue to invest in training, skills development, and health and safety initiatives to support their growth and well-being. The directors have worked to embed a culture that promotes inclusivity, engagement, and collaboration. Pay and benefits are reviewed regularly to ensure competitiveness and fairness. Customers Our customers are at the core of all that we do. The directors prioritise product quality, consistency, innovation and food safety, with a commitment to meeting and exceeding customer expectations. We remain focused on maintaining high standards and strengthening long-term customer relationships. Suppliers We place great value on our supplier relationships, which are of course central to the delivery of our business objectives. Our procurement strategy promotes quality, service, sustainability and compliance objectives, in addition to commercial considerations to deliver an optimised supply chain that fits the requirements of the business. Community and Environment We recognise our responsibility to the communities we serve and the environment in which we operate. The directors are committed to ensuring that the Company acts responsibly, minimising environmental impact and supporting wider social responsibility objectives. Board Decisions and Long-Term Strategy Throughout the year, the directors have sought to balance the needs of all stakeholders while focusing on the long-term sustainability of the business. Decisions such as investment in new technology, site development, and workforce resources were made with careful consideration of financial outcomes, stakeholder relationships, and environmental, social and governance (ESG) responsibilities. We remain aligned with industry standards and take a proactive approach to managing risks and opportunities, particularly in areas such as food safety, sustainability, and regulatory compliance. The directors are satisfied that they have acted in good faith and have given due regard to the interests of all stakeholders in accordance with their obligations under Section 172 of the Companies Act 2006.
This report was approved by the board on 26 September 2025 and signed on its behalf.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the for the year ended 31 December 2024.
The directors are responsible for preparing the Strategic report, the Directors' report and the in accordance with applicable law and regulations.
In preparing these , 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;and
∙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 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 directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of and other information included in Directors' reports may differ from legislation in other jurisdictions.
The loss for the year, after taxation, amounted to £17,929 (2023 - loss £563,997).
The directors do not recommend the payment of any dividends for the year.
The directors who served during the year were:
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YORK HOUSE (MEAT PRODUCTS) LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Company carries out research and development activities in the normal course of its business.
After the year end Barnes Roffe LLP resigned as auditors due to the transfer of its audit business and its
successor Barnes Roffe Audit Limited was appointed by the directors under s485 Companies Act 2006.
This report was approved by the board on
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YORK HOUSE (MEAT PRODUCTS) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YORK HOUSE (MEAT PRODUCTS) LIMITED
We have audited the financial statements of York House (Meat Products) Limited (the 'Company') for the year ended 31 December 2024, which comprise the Statement of income and retained earnings, the Balance sheet 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).
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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YORK HOUSE (MEAT PRODUCTS) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YORK HOUSE (MEAT PRODUCTS) LIMITED (CONTINUED)
The directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditor's report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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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YORK HOUSE (MEAT PRODUCTS) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YORK HOUSE (MEAT PRODUCTS) 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:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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.
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.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF YORK HOUSE (MEAT PRODUCTS) LIMITED (CONTINUED)
for and on behalf of
Chartered Accountants
Statutory Auditor
Leytonstone House
3 Hanbury Drive
London
E11 1GA
Date:
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YORK HOUSE (MEAT PRODUCTS) LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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YORK HOUSE (MEAT PRODUCTS) LIMITED
REGISTERED NUMBER: 00992229
BALANCE SHEET
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 12 to 25 form part of these financial statements.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
York House (Meat Products) Limited ("the Company") is a private Company limited by shares, incorporated in England and Wales. Its registered office is Shannon Place, Potton, Sandy, Bedfordshire, SG19 2YH.
2.ACCOUNTING POLICIES
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Bespoke Foods Group Limited
as at 31 December 2024 and these financial statements can be obtained from Companies House.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis based on forecasts prepared by the directors. In preparing those forecasts, the directors have taken into account the impact that the current economic climate may have on the business and the strategy adopted to mitigate the risks associated with this. The directors therefore have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Turnover is recognised when the 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 considered to be on despatch of the goods. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.
Depreciation is provided on the following annual basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stock is recognised at the lower of cost and net realisable value. Cost includes the purchase price, including duties, transport and handling directly attributable to bringing the raw material to its present location and condition. The cost of manufactured finished goods and work in progress includes raw materials, direct labour and other direct costs and related production overheads. Stock is recognised as an expense in the period in which the related revenue is recognised.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date. Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
The Company's functional and presentational currency is GBP. Transactions Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. Judgements in applying accounting policies The company does not consider there to be any critical judgements in applying accounting policies. Accounting judgements and estimation 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: (i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 12 for the carrying amount of the plant and machinery and fixtures and fittings. (ii) Stock provisioning The company's principal activity is that of meat processing, packaging and wholesale and is subject to changing consumer demands and risk of obsolete stock. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials. See note 13 for the net carrying amount of the stock. (iii) Impairment of debtors The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 14 for the net carrying amount of the debtors.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
3.JUDGMENTS IN APPLYING ACCOUNTING POLICIES (CONTINUED)
As part of the assessment of going concern, estimates and judgements are made as part of the preparation of the forecasts. In preparing these forecasts, the directors have taken into account the impact of other factors as mentioned in the strategic report on the business.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Included within the Statement of Income and Retained Earnings were the following costs in respect of research and development expenditure:
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
There were no factors that may affect future tax charges.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The invoice discounting facility and the obligation under hire purchase contracts are secured against the assets that they relate to.
The bank loan is secured against the assets or undertaking of Group companies.
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Share premium account
Profit and loss account
The Company has provided a guarantee in respect of the bank facilities of group companies of £8,740,626 (2023 - £6,818,234).
The Company operates money purchase schemes in respect of the directors and employees. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charge in the Statement of income and retained earnings represents contributions payable by the company to the funds and amounted to £135,459 (2023 - £159,617). Contributions payable to the funds at the year end and included in creditors amount to £19,156 (2023 - £23,513).
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YORK HOUSE (MEAT PRODUCTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The bank overdraft and the invoice discounting facility were refinanced.
The Company is a subsidiary of Bespoke Foods Group Limited, a company incorporated in England and Wales, whose registered office is Shannon Place, Shannon Road, Potton, Sandy, Bedfordshire, SG19 2YH. The consolidated financial statements of this company are available to the public and can be obtained from Companies House.
The ultimate parent company is Auctus IV GMBH & Co. KG, an entity registered in Germany.
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