ACCOUNTS - Final Accounts preparation

Company registration number: 10445520

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	FN GLOBAL MEAT UK LIMITED


FN GLOBAL MEAT UK LIMITED

COMPANY INFORMATION

Director	M Hooreman


Registered number	10445520


Registered office	Magna House
	18-32 London Road
	Staines-Upon-Thames
	Surrey
	TW18 4BP


Independent auditors	Menzies LLP
	Chartered Accountants & Statutory Auditor
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	Surrey
	TW18 4BP


Bankers	HSBC UK Bank Plc
	1 Centenary Square
	Birmingham
	B1 1HQ


FN GLOBAL MEAT UK LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 5


FN GLOBAL MEAT UK LIMITED REGISTERED NUMBER:10445520

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024


	2024	2023
Note	£	£

Fixed assets
Investments	4		-		1
			-		1
Current assets
Stocks	5	1,170,160		365,863
Debtors: amounts falling due within one year	6	1,760,420		1,500,970
Cash at bank and in hand		12,340		183,521
		2,942,920		2,050,354
Creditors: amounts falling due within one year	7	(2,214,850)		(1,521,057)
Net current assets			728,070		529,297
Total assets less current liabilities			728,070		529,298

Net assets			728,070		529,298

Capital and reserves
Called up share capital	100	100
Profit and loss account	727,970	529,198
	728,070	529,298

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

M Hooreman

Director

Date: 29 September 2025

The notes on pages 2 to 5 form part of these financial statements.

Page 1


FN GLOBAL MEAT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

FN Global Meat UK Limited is a private company limited by shares and incorporated in England and Wales. The company's registered can be found on the company information page. There is no principal place of business.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is generated by wholesale of meat and meat products. This is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. This determination is made at the point of delivery or when the customer collects the goods. Revenue is measured as the fair value of the consideration received or receivable excluding discounts.

2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.4

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

2.5

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2


FN GLOBAL MEAT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 -1).

4.	Fixed asset investments

		Investments in subsidiary companies
		£

	At 1 January 2024	1
	Disposals	(1)
	At 31 December 2024	-

5.	Stocks

		2024	2023
		£	£

Meat products	1,170,160	365,863
	1,170,160	365,863

Page 3


FN GLOBAL MEAT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors


					2024	2023
					£	£


Trade debtors	809,959	712,157
Amounts owed by group undertakings	774,492	461,459
Other debtors	11,059	10,325
Prepayments	164,910	317,029
	1,760,420	1,500,970

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	228,113	354,805
Amounts owed to group undertakings	1,932,901	1,140,822
Corporation tax	34,436	-
Accruals and deferred income	19,400	25,430
	2,214,850	1,521,057

8.	Controlling party

The parent company is FN Global Meat Holding B.V., a company registered in the Netherlands after it acquired the shares in the company during the year. The address of the registered office is Heliotroopring 700, 3316 KG Dordrecht, The Netherlands.
The company's results are consolidated in the financial statements of FN Global Meat Holding B.V. and these can be obtained from its registered office.

Page 4


FN GLOBAL MEAT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was qualified.

The qualification in the audit report was as follows:

We were not appointed as auditor of the company until after the year ended 31 December 2022 and thus did not observe the counting of physical inventories at the end of that year. We were unable to satisfy ourselves by alternative means concerning the inventory quantities of £2,290,044 held at 31 December 2022, by using other audit procedures. Consequently we were unable to determine whether there was any consequential effect on the cost of sales for the year ended 31 December 2023. Our audit opinion on the financial statements for the period ended 31 December 2023 was modified accordingly. Our opinion on the current period's financial statements is also modified because of the possible effect of this matter on the comparability of the current period's figures and the corresponding figures.

The audit report was signed on 29 September 2025 by Sophie Said FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 5