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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2024
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BESPOKE FOODS GROUP LIMITED
COMPANY INFORMATION
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BESPOKE FOODS GROUP LIMITED
CONTENTS
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BESPOKE FOODS GROUP LIMITED
GROUP 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 £43.5m (2023: £42.6m), while gross profit margin improved from 24.0% to 24.3%, 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 group delivered an operating profit of £0.401m compared with an operating profit in the prior year of £1.047m, and the overall result for the year was a post-tax loss of £874k (2023: £175k loss). The group’s position was 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 group 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 group 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 24.0% in 2023 to 24.3% in 2024.
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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BESPOKE FOODS GROUP LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Greenhouse Gas Emissions and Energy Consumption
The group’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 Bespoke Foods Group's 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 group. Scope 2: Indirect emissions Emissions resulting from the generation of purchased energy (electricity, steam, heating, or cooling) that the group consumes. Scope 3: Other indirect emissions (Value Chain) All other indirect emissions that are not included in Scope 2, occurring across a group’s value chain both upstream and downstream. The group 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 the group’s carbon footprint, with over 90% of the emissions falling under this category. 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 / £43.5m Intensity Ratio = 945.8 Section 172 Statement In line with Section 172 of the Companies Act 2006, the directors of Bespoke Foods Group Limited acknowledge their duty to act in good faith in a manner that promotes the long-term success of the group 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 group 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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BESPOKE FOODS GROUP LIMITED
GROUP 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 group 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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BESPOKE FOODS GROUP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the year ended 31 December 2024.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group 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 Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' reports may differ from legislation in other jurisdictions.
The loss for the year, after taxation, amounted to £874,345 (2023 - loss £175,624).
The directors do not recommend the payment of any dividends for the year.
The directors who served during the year were:
The Company carries out research and development activities in the normal course of its business.
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BESPOKE FOODS GROUP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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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BESPOKE FOODS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BESPOKE FOODS GROUP LIMITED
We have audited the financial statements of Bespoke Foods Group Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2024, which comprise the Consolidated statement of income and retained earnings, the Consolidated Statement of Financial Position, the Company Statement of Financial Position, the Consolidated Statement of Cash Flows 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 Group's or 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.
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BESPOKE FOODS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BESPOKE FOODS GROUP LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group 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 Group 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 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 Directors' report.
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BESPOKE FOODS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BESPOKE FOODS GROUP 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 Group 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;
∙we identified the laws and regulations applicable to the company through discussions with directors and
other management, and from our commercial knowledge and experience of the relevant sector, including Companies Act 2006;
∙we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence; and
∙laws and regulations identified were communicated with the audit team regularly and the team remained
alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the Company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non- compliance with laws and
regulations. To address the risk of fraud through management bias and override of controls, we:
∙reviewed the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations;
∙performed analytical procedures and tested journal entries to identify any unusual or unexpected
relationships or transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial statements, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
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.
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BESPOKE FOODS GROUP LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF BESPOKE FOODS GROUP LIMITED (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
Leytonstone House
London
E11 1GA
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BESPOKE FOODS GROUP LIMITED
CONSOLIDATED STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BESPOKE FOODS GROUP LIMITED
REGISTERED NUMBER: 10404591
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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BESPOKE FOODS GROUP LIMITED
REGISTERED NUMBER: 10404591
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2025.
The notes on pages 16 to 35 form part of these financial statements.
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BESPOKE FOODS GROUP LIMITED
REGISTERED NUMBER: 10404591
COMPANY STATEMENT OF FINANCIAL POSITION
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 16 to 35 form part of these financial statements.
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BESPOKE FOODS GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BESPOKE FOODS GROUP LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Bespoke Foods Group Limited ("the Company") is a private Company limited by shares, incorporated in England and Wales. Its registered office is Shannon Place, Shannon Road, Patton, Sandy, Bedfordshire, SG19 2YH.
2.ACCOUNTING POLICIES
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 Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of income and retained earnings in these financial statements.
The following principal accounting policies have been applied:
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.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.
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 Group has adequate resources to continue in operational existence for the foreseeable future.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Functional and presentation currency
Transactions and balances
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
GOODWILL
OTHER INTANGIBLE ASSETS
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
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 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.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Group's Statement of financial position when the Group becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Grants of a revenue nature are recognised in the Consolidated statement of income and retained earnings in the same period as the related expenditure. 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.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Judgements in applying accounting policies The Group does not consider there to be any critical judgements in applying accounting policies. Accounting judgements and estimation The Group 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 reassessed 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 14 for the carrying amount of the plant and machinery and fixtures and fittings. (ii) Stock provisioning The Group principal activity is that of meat processing, packaging and wholesale and is subject to changing consumer demands and the 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 16 for the net carrying amount of the stock. (iii) Impairment of debtors The Group 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 17 for the net carrying amount of the debtors. (iv) Preparation of forecasts 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 the issues surrounding the current economic climate on the business, as mentioned in the strategic report.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 24
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 25
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 26
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12.TAXATION (CONTINUED)
There were no factors that may affect future tax charges.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 28
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 29
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 30
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Page 31
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The invoice discounting facility is secured against the assets that they relate to.
The bank loans are secured against the assets of its subsidiaries.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The bank loans are secured against the assets of its subsidiaries.
Please provide details of the terms of payment or repayment and the rates of any interest payable on the amounts repayable more than five years after the reporting date.
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The Group operates money purchase schemes in respect of the directors and employees. The assets of the schemes are held separately from those of the Group in independently administered funds. The pension cost charge in the statement of income and retained earnings represents contributions paid by the Group to the funds and amounted to £183,002 (2022 - £136,047). Contributions payable to the funds at the year end and included in creditors amounted to £24,517 (2022 - £20,352).
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BESPOKE FOODS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
The bank overdraft and the invoice discounting facility were refinanced.
The Group considers Auctus IV GmbH & Co. KG, an entity registered in Germany, to be its controlling party.
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