Pembrokeshire Holdings Ltd iXBRL

Company Registration Number: 12015434

Pembrokeshire Holdings Ltd

Directors' Report and Unaudited Financial Statements

for the financial year ended 31 October 2024

Pembrokeshire Holdings Ltd

DIRECTORS AND OTHER INFORMATION


Directors	Michael Fox
	Agnes Fox
	Richard Kerslake
	Robert Kerslake


Company Registration Number	12015434


Registered Office and Business Address	Plot 7&8
	Withybush Industrial Estate
	Haverfordwest
	SA62 4BS
	United Kingdom


Accountants	Farrelly & Scully Ltd
	Chartered Certified Accountants
	2 Kennedy Road
	Navan
	Co. Meath
	Ireland


Bankers	HSBC UK
	15 Lammas Street
	Carmarthen Carms
	SA313AQ

Pembrokeshire Holdings Ltd

DIRECTORS' REPORT

for the financial year ended 31 October 2024

The directors present their report and the unaudited financial statements for the financial year ended 31 October 2024.

Principal Activity

The company operates a meat processing plant.

Results and Dividends

The profit for the financial year after providing for depreciation and taxation amounted to £611,793 (2023 - £650,570).

Directors

The directors who served during the financial year are as follows:

Michael Fox

Agnes Fox

Richard Kerslake

Robert Kerslake

There were no changes in shareholdings between 31 October 2024 and the date of signing the financial statements.

In accordance with the Constitution, the directors retire by rotation and, being eligible, offer themselves for re-election.

Political Contributions

The company did not make any disclosable political donations in the current financial year.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report 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) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). 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 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.

Special provisions relating to small companies

The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

___________________________

Michael Fox

Agnes Fox

Director

25 July 2025

Pembrokeshire Holdings Ltd

CHARTERED CERTIFIED ACCOUNTANTS REPORT

to the directors on the preparation of the unaudited statutory accounts of Pembrokeshire Holdings Ltd

for the financial year ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pembrokeshire Holdings Ltd for the financial year ended 31 October 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity and the related notes thereto from the company's accounting records and from information and explanations you have given to us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
<http://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html>

This report is made solely to the Board of Directors of Pembrokeshire Holdings Ltd, as a body, in accordance with the terms of our engagement letter . Our work has been undertaken solely to prepare for your approval the accounts of Pembrokeshire Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Pembrokeshire Holdings Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at:
<http://www.accaglobal.com/ie/en/technical-activities/technical-resources-search/2009/october/factsheet-163-audit-exempt-companies.html>

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pembrokeshire Holdings Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pembrokeshire Holdings Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Pembrokeshire Holdings Ltd. You consider that Pembrokeshire Holdings Ltd is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the accounts of Pembrokeshire Holdings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

FARRELLY & SCULLY LTD

Chartered Certified Accountants

2 Kennedy Road

Navan

Co. Meath

Ireland

25 July 2025

Pembrokeshire Holdings Ltd

INCOME STATEMENT

for the financial year ended 31 October 2024

	2024	2023
Notes	£	£

Turnover	38,523,293	31,246,492

Cost of sales	(36,316,860)	(29,418,234)
	─────────	─────────
Gross profit	2,206,433	1,828,258

Administrative expenses	(1,392,778)	(935,544)
Other operating income	3,600	-
	─────────	─────────
Operating profit	817,255	892,714

Interest payable and similar charges	(28,951)	(17,607)
	─────────	─────────
Profit on ordinary activities before taxation	788,304	875,107

Tax on profit on ordinary activities	(176,511)	(224,537)
	─────────	─────────
Profit for the financial year	611,793	650,570
	─────────	─────────
Total comprehensive income	611,793	650,570
	═════════	═════════

Pembrokeshire Holdings Ltd

Company Registration Number: 12015434

STATEMENT OF FINANCIAL POSITION

as at 31 October 2024

		2024	2023
	Notes	£	£

Non-Current Assets

Property, plant and equipment

3,299,795

2,518,945

─────────

Current Assets

Stocks

677,320

185,033

Debtors

1,928,239

1,219,968

Cash and cash equivalents

148,677

137,304

─────────

2,754,236

1,542,305

─────────

Creditors: amounts falling due within one year

(2,990,953)

(1,773,636)

─────────

Net Current Liabilities

(236,717)

(231,331)

─────────

Total Assets less Current Liabilities

3,063,078

2,287,614

Creditors:

amounts falling due after more than one year

(996,670)

(996,670)

Provisions for liabilities

(428,228)

(262,157)

Government grants

(3,200)

(5,600)

─────────

Net Assets

1,634,980

1,023,187

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

1,634,880

1,023,087

─────────

Equity attributable to owners of the company

1,634,980

1,023,187

═════════

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).

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Board and authorised for issue on 25 July 2025 and signed on its behalf by



________________________________			________________________________
Michael Fox			Agnes Fox
Director			Director

Pembrokeshire Holdings Ltd

STATEMENT OF CHANGES IN EQUITY

as at 31 October 2024

	Called up	Retained	Total
	share	earnings
	capital
	£	£	£

At 1 November 2022	100	372,517	372,617
	─────────	─────────	─────────
Profit for the financial year	-	650,570	650,570
	─────────	─────────	─────────
At 31 October 2023	100	1,023,087	1,023,187
	─────────	─────────	─────────
Profit for the financial year	-	611,793	611,793
	─────────	─────────	─────────
At 31 October 2024	100	1,634,880	1,634,980
	═════════	═════════	═════════

Pembrokeshire Holdings Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 October 2024

General Information

Pembrokeshire Holdings Ltd is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 12015434. The registered office of the company is Plot 7&8, Withybush Industrial Estate, Haverfordwest, SA62 4BS, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 October 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Land and buildings freehold

4% Straight line

Plant and machinery

12.5% Straight line

Fixtures, fittings and equipment

15% Straight line

Motor vehicles

20% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Government grants

Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was 30, (2023 - 27).

2024

2023

Number

Number

Admin and production

═════════


4.	Property, plant and equipment
		Land and	Plant and	Fixtures,	Motor	Total
		buildings	machinery	fittings and	vehicles
		freehold		equipment
		£	£	£	£	£
	Cost
	At 1 November 2023	1,459,294	1,287,877	153,723	55,700	2,956,594
	Additions	201,032	-	897,627	94,750	1,193,409
		─────────	─────────	─────────	─────────	─────────
	At 31 October 2024	1,660,326	1,287,877	1,051,350	150,450	4,150,003
		─────────	─────────	─────────	─────────	─────────
	Depreciation
	At 1 November 2023	171,850	201,720	52,939	11,140	437,649
	Charge for the financial year	63,782	160,985	157,702	30,090	412,559
		─────────	─────────	─────────	─────────	─────────
	At 31 October 2024	235,632	362,705	210,641	41,230	850,208
		─────────	─────────	─────────	─────────	─────────
	Net book value
	At 31 October 2024	1,424,694	925,172	840,709	109,220	3,299,795
		═════════	═════════	═════════	═════════	═════════
	At 31 October 2023	1,287,444	1,086,157	100,784	44,560	2,518,945
		═════════	═════════	═════════	═════════	═════════


5.	Stocks	2024	2023
		£	£

	Finished goods and goods for resale	677,320	185,033
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.


6.	Debtors	2024	2023
		£	£

	Trade debtors	1,772,159	1,013,818
	Other debtors	53,883	3,883
	Taxation (Note 9)	96,984	197,054
	Prepayments and accrued income	5,213	5,213
		─────────	─────────
		1,928,239	1,219,968
		═════════	═════════


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

	Bank overdrafts	1,499,180	791,830
	Trade creditors	711,697	900,094
	Amounts owed to connected parties (Note 14)	634,194	-
	Taxation (Note 9)	99,391	48,362
	Accruals	46,491	33,350
		─────────	─────────
		2,990,953	1,773,636
		═════════	═════════


8.	Creditors	2024	2023
	Amounts falling due after more than one year	£	£

	Directors' loan accounts	996,670	996,670
		═════════	═════════


9.	Taxation	2024	2023
		£	£

	Debtors:
	VAT	96,984	197,054
		═════════	═════════
	Creditors:
	Corporation tax	14,233	3,793
	PAYE / NI	85,158	44,569
		─────────	─────────
		99,391	48,362
		═════════	═════════

10.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2024

2023

At financial year start

262,157

262,157

37,620

Charged to profit and loss

166,071

166,071

224,537

─────────

At financial year end

428,228

262,157

═════════


11.	Government Grants Deferred	2024	2023
		£	£

	At 1 November 2023	5,600	4,400
	(Decrease)/Increase in financial year	(2,400)	1,200
		─────────	─────────

	At 31 October 2024	3,200	5,600
		═════════	═════════


12.	Share capital			2024	2023
				£	£
	Description	Number of shares	Value of units

	Allotted, called up and fully paid
	Ordinary Share Class 1	100	£1.00 each	100	100

				═════════	═════════

The directors' interests in the shares of the company are as follows:-

Number Held At

Name

Class of Shares

31/10/24

01/11/23

Michael Fox

Ordinary Share Class 1

Agnes Fox

Ordinary Share Class 1

Richard Kerslake

Ordinary Share Class 1

Robert Kerslake

Ordinary Share Class 1

─────────

100

100

═════════

13.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 October 2024.


14.	Related party transactions

	The following amounts are due to other connected parties:
		2024	2023
		£	£

		634,194	-
		═════════	═════════

15.

Events After the End of the Reporting Period

There have been no significant events affecting the company since the financial year-end.

16.

Directors loans

2024

2023

═════════

The Directors have committed the above amount in long term finance to the company and are not seeking repayment for the foreseeable future.

Pembrokeshire Holdings Ltd

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

TRADING STATEMENT

for the financial year ended 31 October 2024




		2024	2023
	Schedule	£	£

Sales		38,523,293	31,246,492
Cost of sales	1	(36,316,860)	(29,418,234)
		─────────	─────────
Gross profit		2,206,433	1,828,258
		─────────	─────────
Gross profit Percentage		5.7%	5.9%
		─────────	─────────

Overhead expenses	2	(1,421,729)	(953,151)
		─────────	─────────
		784,704	875,107

Miscellaneous income	3	3,600	-
		─────────	─────────
Net profit		788,304	875,107
		═════════	═════════

Pembrokeshire Holdings Ltd

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

SCHEDULE 1 : COST OF SALES

for the financial year ended 31 October 2024




	2024	2023
	£	£
Cost of Sales

Opening stock	185,033	116,106
Purchased Catte	31,110,707	25,227,630
Hide Expenses	48,072	37,941
Wages and salaries	1,411,095	1,173,756
Social security costs	445,940	355,884
Subcontract costs	258,656	138,838
Commission	102,213	73,088
Consumables	211,044	136,080
Cold Storage	86,966	34,259
Levies	257,322	189,563
SRM Removal	113,981	63,222
FSA Charges	332,073	254,204
Boning	1,106,261	682,191
Haulage Costs	1,121,084	923,937
Profit/loss on foreign currency	8,905	(883)
Meat Packaging	52,716	56,168
Waste Disposal	11,164	7,912
Land Spreading	130,948	133,371
	─────────	─────────
	36,994,180	29,603,267
Closing stock	(677,320)	(185,033)
	─────────	─────────
	36,316,860	29,418,234
	═════════	═════════

Pembrokeshire Holdings Ltd

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

SCHEDULE 2 : OVERHEAD EXPENSES

for the financial year ended 31 October 2024




	2024	2023
	£	£

Administration Expenses

Staff defined contribution pension costs

60,952

64,667

Staff training

610

5,871

Rent payable

6,675

5,287

Rates

14,017

11,636

Insurance

69,751

61,520

Computer bureau costs

55,539

26,901

Light and heat

244,941

118,057

Cleaning

52,253

52,292

Repairs and maintenance

265,318

204,683

Printing, postage and stationery

10,915

7,788

Advertising

18,652

5,857

Telephone

2,393

2,488

Motor expenses

30,929

13,269

Legal and professional

130,711

83,539

Accountancy

4,500

4,500

Bank charges

3,957

3,205

Discounts allowed

959

638

Canteen

5,488

4,213

General expenses

1,659

12,186

Profits/losses on disposal of tangibles

(3,976)

Depreciation of property, plant and equipment

412,559

250,923

─────────

1,392,778

935,544

─────────

Finance

Bank interest paid	28,951	17,607
	─────────	─────────

Total Overheads	1,421,729	953,151
	═════════	═════════

Pembrokeshire Holdings Ltd

SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS

SCHEDULE 3 : MISCELLANEOUS INCOME

for the financial year ended 31 October 2024




	2024	2023
	£	£
Miscellaneous Income

Government grants received	3,600		-
	═════════		═════════