REGISTERED NUMBER: 01237354 (England and Wales)

Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 31 January 2025

for

Owen Taylor and Sons Limited

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Profit and Loss Account

7

Balance Sheet

8

Statement of Changes in Equity

9

Notes to the Financial Statements

10

DIRECTOR:

R J O Taylor

REGISTERED OFFICE:

27 Main Road

Leabrooks

Alfreton

Derbyshire

DE55 1LA

REGISTERED NUMBER:

01237354 (England and Wales)

AUDITORS:

Bates Weston Audit Ltd

Statutory Auditors

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

The director presents his strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS

Overall, the company has reported an increase in turnover of 0.1% in comparison to the prior year.

The gross profit margin has decreased to 17.0% (2024 - 17.8%).

The company maintains a healthy cash position.

The overall results for the period are considered very good, particularly when taking into account the competitive market conditions and the cost of living crisis.

PRINCIPAL RISKS AND UNCERTAINTIES

The management of the company and the execution of the company's strategy are subject to several risks. The company faces challenges from global food price increases as a result of the Russia and Ukraine conflict, tight margins on sales and a greater than average risk of insolvency in the catering market. These global food prices are monitored by the director with any necessary action undertaken.

The main risk to the company is the cost of living crisis which is prompting consumers to spend less. The company continually updates plans to manage the situation and the company is well placed to deal with the disruption.

Additional risks include increasing energy costs and border issues. The company has sufficient margins to account for the increases in energy costs. Brexit has caused some supply chain issues with lorries being delayed and held up at ports.

ORGANISATION

The director continues to monitor the company's organisation and profitability in the light of changes within a highly competitive industry. Changes are implemented where deemed appropriate in order to minimise the effects of the risks and uncertainties the company faces in retaining market share and maintaining margins.

FINANCIAL INSTRUMENTS

Due to the high cash resources in place, the need for other financial instruments is minimal. The main purpose of the financial instruments and cash resources is to provide working capital and finance for the company's operations and improvements.

ON BEHALF OF THE BOARD:

R J O Taylor - Director

19 September 2025

The director presents his report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of predominantly a wholesale catering butcher and a single retail butchers shop.

DIVIDENDS

An interim dividend of £19.96606 per share was paid on 31 January 2025. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 January 2025 will be £ 1,200,000 .

DIRECTOR

R J O Taylor held office during the whole of the period from 1 February 2024 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

The matters required to be disclosed under SI (2008) 410 Sch 7 relating to financial instruments are contained within the Strategic Report as applicable in accordance with s414C(11) of the Companies Act 2006.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

R J O Taylor - Director

19 September 2025

Opinion

We have audited the financial statements of Owen Taylor and Sons Limited (the 'company') for the year ended 31 January 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, 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 our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors 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 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 a Report of the Auditors 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.

Based on our understanding of the company and industry in which it operates, we identified that the principal

risks of non-compliance with laws and regulations related to the food service industry and we considered the

extent to which non-compliance might have a material effect on the financial statements. We also considered

those laws and regulations that have a direct impact on the preparation of the financial statements such as

the Companies Act 2006. Audit procedures performed by the engagement team included:

- Enquiry of management around actual and potential litigation and claims;

- Reviewing financial statement disclosures and testing to supporting documentation to assess

compliance with applicable laws and regulations;

- Reviewing minutes of meetings of those charged with governance;

- Performing audit work over the risk of management override of controls, including testing of journal

entries and other adjustments for appropriateness, evaluating the business rationale of significant

transactions outside the normal course of business and reviewing accounting estimates for bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including

those leading to a material misstatement in the financial statements or non-compliance with regulation. This

risk increases the more that compliance with a law or regulation is removed from the events and transactions

reflected in the financial statements, as we will be less likely to become aware of instances of

non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as

fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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 Report of the Auditors.

Use of our 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 a Report of the Auditors 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.

Ian Neal FCA CTA (Senior Statutory Auditor)

for and on behalf of Bates Weston Audit Ltd

Statutory Auditors

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

3 October 2025

TURNOVER

26,742,879

26,708,061

Cost of sales

22,203,572

21,957,126

GROSS PROFIT

4,539,307

4,750,935

Distribution costs

585,076

501,768

Administrative expenses

2,523,777

2,577,522

3,108,853

3,079,290

1,430,454

1,671,645

Other operating income

7,076

5,678

OPERATING PROFIT

4

1,437,530

1,677,323

Interest receivable and similar income

18,236

27,796

PROFIT BEFORE TAXATION

1,455,766

1,705,119

Tax on profit

5

362,142

408,582

PROFIT FOR THE FINANCIAL YEAR

1,093,624

1,296,537

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

1,093,624

1,296,537

FIXED ASSETS

Tangible assets

7

1,764,587

1,463,856

Investment property

8

100,000

100,000

1,864,587

1,563,856

CURRENT ASSETS

Stocks

9

2,823,873

1,897,603

Debtors

10

2,407,290

2,331,037

Investments

11

50,000

50,000

Cash at bank and in hand

714,152

1,486,208

5,995,315

5,764,848

CREDITORS

Amounts falling due within one year

12

4,302,310

3,694,441

NET CURRENT ASSETS

1,693,005

2,070,407

TOTAL ASSETS LESS CURRENT LIABILITIES

3,557,592

3,634,263

PROVISIONS FOR LIABILITIES

14

332,611

302,906

NET ASSETS

3,224,981

3,331,357

CAPITAL AND RESERVES

Called up share capital

15

60,102

60,102

Capital redemption reserve

16

20,572

20,572

Retained earnings

16

3,144,307

3,250,683

SHAREHOLDERS' FUNDS

3,224,981

3,331,357

The financial statements were approved by the director and authorised for issue on 19 September 2025 and were signed by:

R J O Taylor - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 February 2023

60,102

3,054,146

20,572

3,134,820

Changes in equity

Dividends

-

(1,100,000

)

-

(1,100,000

)

Total comprehensive income

-

1,296,537

-

1,296,537

Balance at 31 January 2024

60,102

3,250,683

20,572

3,331,357

Changes in equity

Dividends

-

(1,200,000

)

-

(1,200,000

)

Total comprehensive income

-

1,093,624

-

1,093,624

Balance at 31 January 2025

60,102

3,144,307

20,572

3,224,981

1.	STATUTORY INFORMATION

Owen Taylor and Sons Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents the net sales of invoiced goods on despatch or pick-up, excluding value added tax. Turnover is recognised when the company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the company will receive the agreed upon payment. Rental income is recognised in other income.

Tangible fixed assets

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment loss. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

- 2% on cost

Improvements to property

- 10% on cost

Plant and machinery

- 15% on reducing balance

Motor vehicles

- at varying rates on cost

Computer equipment

- 33% on cost

Freehold land is not depreciated.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively as 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 within 'administrative expenses' in the profit and loss account.

Investment property

Investment property is not depreciated but is revalued annually at its market value in accordance with the Financial Reporting Standard 102. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving and obsolete items. Cost is based on a first in, first out basis and is calculated as original purchase price plus labour costs of production and preparation.

Net realisable value is based on the estimated selling price less further costs expected to be incurred to completion and disposal.

At each reporting date, stock is assessed for impairment. If 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.

Deferred tax

Deferred tax arises from timing differences that are differences between taxable total profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing differences and losses can be deducted.

Provision is made at current rates for taxation deferred in respect of all material timing differences.

Pension costs and other post-retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations. The contributions are recognised as an expense when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account as they are incurred.

Current asset investments

Current asset investments are stated at cost less provision for permanent diminution in value. An investment is treated as a current asset investment if it is not intended to be held long term and/or readily convertible to cash were it to be sold.

Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies the director is required to make judgement estimates and assumptions about the carrying amounts of the company's assets and liabilities. These are based on historical experience and other factors that are considered relevant and are reviewed on a regular basis and recognised in the period in which the estimate is revised. Actual results may differ from these estimates.

The following are the critical judgements and where relevant the key sources of estimation uncertainty:

Tangible fixed assets are depreciated over their useful economic lives, taking into account their residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual values consider such things as future market conditions, the remaining life of the asset and projected disposal values.

The recoverability of debtors is assessed on the likelihood and circumstances of the particular cost.

The value of stock is assessed for impairment. In re-assessing the stock value, factors such as slow movement and obsolescence are taken into account.

Investment properties are not depreciated but are held at fair value based on the director's judgement and experience taking into account local conditions, market values for similar properties and the company's long-term plans for their use at the balance sheet date. The assumptions are reviewed at least annually and revisions recognised in the current or previous period as is applicable.

3.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,623,927

4,371,761

Social security costs

427,120

392,911

Other pension costs

128,810

128,021

5,179,857

4,892,693

The average number of employees during the year was as follows:

2025

2024

Direct

109

112

Drivers

29

30

Administration

29

28

167

170

2025

2024

£

£

Director's remuneration

16,943

16,404

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

4.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Depreciation - owned assets

320,332

247,723

Profit on disposal of fixed assets

(60,113

)

-

Auditors' remuneration

23,140

23,140

Auditors' remuneration for non audit work

6,860

6,860

Operating lease payments

44,184

48,496

5.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

332,000

320,000

Adjustment re prior year

437

333

Total current tax

332,437

320,333

Deferred tax

29,705

88,249

Tax on profit

362,142

408,582

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

1,455,766

1,705,119

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 24.030%)

363,942

409,740

Effects of:

Expenses not deductible for tax purposes

8,310

8,942

Adjustments to tax charge in respect of previous periods

(10,110

)

333

Group relief

-

(10,433

)

Total tax charge

362,142

408,582

6.

DIVIDENDS

2025

2024

£

£

Interim

1,200,000

1,100,000

7.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 February 2024

249,974

473,291

1,892,959

Additions

-

-

373,860

Disposals

-

-

-

At 31 January 2025

249,974

473,291

2,266,819

DEPRECIATION

At 1 February 2024

142,945

473,291

962,932

Charge for year

4,467

-

159,849

Eliminated on disposal

-

-

-

At 31 January 2025

147,412

473,291

1,122,781

NET BOOK VALUE

At 31 January 2025

102,562

-

1,144,038

At 31 January 2024

107,029

-

930,027

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2024

792,991

335,747

3,744,962

Additions

227,755

45,027

646,642

Disposals

(126,898

)

(49,425

)

(176,323

)

At 31 January 2025

893,848

331,349

4,215,281

DEPRECIATION

At 1 February 2024

411,998

289,940

2,281,106

Charge for year

131,071

24,945

320,332

Eliminated on disposal

(101,319

)

(49,425

)

(150,744

)

At 31 January 2025

441,750

265,460

2,450,694

NET BOOK VALUE

At 31 January 2025

452,098

65,889

1,764,587

At 31 January 2024

380,993

45,807

1,463,856

Included in cost of land and buildings is freehold land of £ 26,620 (2024 - £ 26,620 ) which is not depreciated.

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

100,000

NET BOOK VALUE

At 31 January 2025

100,000

At 31 January 2024

100,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 2025

100,000

If investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

£

Cost

60,500

60,500

Aggregate depreciation

(12,100

)

(10,890

)

Investment property was valued on a fair value basis on 31 January 2025 by the director .

9.

STOCKS

2025

2024

£

£

Consumables, packaging and

hygiene

44,652

42,254

Raw meat/produce

2,779,221

1,855,349

2,823,873

1,897,603

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,908,008

1,762,165

Other debtors

350,194

401,655

Prepayments

149,088

167,217

2,407,290

2,331,037

11.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

50,000

50,000

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,341,343

1,625,389

Amounts owed to group undertakings

1,188,825

1,581,845

Tax

277,726

152,986

Social security and other taxes

118,729

107,248

Other creditors

164,164

126,506

Director's current account

146,276

46,065

Accrued expenses

65,247

54,402

4,302,310

3,694,441

13.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Other operating leases

2025

2024

£

£

Obligations repayable:

Within one year

24,780

26,933

Between one and five years

7,356

21,806

32,136

48,739