REGISTERED NUMBER: NI030183 (Northern Ireland)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 31 January 2025

for

Bawnbua Foods Ltd

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

7

Consolidated Income Statement

11

Consolidated Other Comprehensive Income

12

Consolidated Balance Sheet

13

Company Balance Sheet

14

Consolidated Statement of Changes in Equity

15

Company Statement of Changes in Equity

16

Consolidated Cash Flow Statement

17

Notes to the Consolidated Cash Flow Statement

18

Notes to the Consolidated Financial Statements

20

DIRECTORS:

M P White

G White

D White

M White

SECRETARY:

G White

REGISTERED OFFICE:

67 Crowhill Road

Bleary

Lurgan

Co. Armagh

BT66 7AT

REGISTERED NUMBER:

NI030183 (Northern Ireland)

AUDITORS:

BMK Accounting Limited

43 Lockview Road

Belfast

Antrim

BT9 5FJ

The directors present their strategic report of the company and the group for the year ended 31 January 2025.

REVIEW OF BUSINESS

The principal activity of Bawnbua Foods NI Ltd is the processing and packaging of frozen and chilled meat for the retail, foodservice and catering sectors across the United Kingdom, the Republic of Ireland and Europe. Further details are provided in Note 1 to the financial statements. The financial statements and balance sheet are presented in sterling (£).

The financial year ended 31 January 2025 has been characterised by ongoing volatility in the wider economic environment. Market conditions continued to be influenced by persistent inflationary pressures, elevated energy costs, and the continued impact of post-Brexit trade complexities. Geopolitical tensions, including the ongoing war in Ukraine and instability in the Middle East, have contributed to supply chain disruption and upward pressure on input costs across the food sector. Consumer spending has also been affected by the sustained cost-of-living crisis, leading to a more competitive pricing environment within the industry.

Despite these challenges, the company has remained focused on operational resilience, improving efficiencies, and carefully managing cost inflation. The company has continued to build on its strong relationships with both suppliers and customers, ensuring a stable supply chain and minimising the impact of external cost pressures on its operations.

The results for the year, as set out on page 11 of the financial statements, were in line with the expectations of the directors. The company reported an operating profit of £958,062 (2024: £949,625) on a turnover of £44,940,999 (2024: £44,270,517). Net assets at the year-end stood at £6,567,858 (2024: £6,597,619). Bank borrowings are secured, with details of the security provided in Note 18 to the financial statements.

PRINCIPAL RISKS AND UNCERTAINTIES

Performance in the meat processing sector is influenced by prevailing economic conditions, consumer demand trends, and market competition. The company's established relationships with both suppliers and customers provide the flexibility to adapt to changing market dynamics and mitigate potential disruptions.

The principal non-financial performance indicator monitored by the directors remains customer satisfaction, which is assessed and reviewed on a customer-by-customer basis to ensure product quality and service standards are maintained.

During the year, the group recorded a profit after tax of £55,861 (2024: loss of £39,279). The company continues to rely on the support of its lenders and remains in active and constructive dialogue regarding the renewal of existing financing facilities and future funding requirements. Based on these discussions and the indications received, the directors are confident that these facilities will be maintained.

The directors do not consider this to give rise to a material uncertainty, as there is no reason to believe that the facilities will not be renewed. Having carefully reviewed future trading forecasts, cash flow projections, and funding requirements, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

FUTURE DEVELOPMENTS

The directors are confident that continued investment in modernising plant, technology, and processes will further strengthen the company's market position within the meat processing sector and enable it to capitalise on new commercial opportunities. The company remains committed to supplying a number of leading household names in the retail and foodservice sectors throughout the UK.

In support of this strategic objective, the business continues to review and enhance its product range, ensuring that all goods are sourced exclusively from reputable and high-quality suppliers across local, UK, European, and international markets. A core component of the company's success remains its close collaboration with customers, which supports the development of new products, the enhancement of existing ranges, and the consistent delivery of high standards of quality and service.

While the external trading environment is expected to remain challenging in the short term, the directors consider current performance to be satisfactory and remain confident in the business's ability to deliver sustainable growth and improved results in the coming year.

FINANCIAL RISK MANAGEMENT

Financial risk management objectives and policies

The company's policy is to ensure sufficient financial resources are available through a combination of cash balances, operating cash flows, and near-cash liquid investments to meet all obligations as they fall due. To support this objective, the company continuously monitors its cash position and funding requirements.

The company does not have any significant concentrations of credit risk. Customers seeking to trade on credit terms are subject to robust verification procedures prior to the extension of credit facilities and are monitored continuously to manage exposure appropriately.

Within Bawnbua Foods NI Ltd, established financial reporting and control procedures are in place to manage credit, liquidity, and other financial risks effectively. The Board sets Key Performance Indicators (KPIs) at various operational levels to monitor all critical aspects of performance. In addition, the company mitigates financial risk by employing suitably qualified and experienced personnel to ensure strong financial governance and oversight.

ON BEHALF OF THE BOARD:

D White - Director

31 October 2025

The directors present their report with the financial statements of the company and the group for the year ended 31 January 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2025.

No dividends were voted during the year (2024: £236,495).

FUTURE DEVELOPMENTS

Future developments in the business of the company are discussed in the strategic report.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

M P White

G White

D White

M White

POLITICAL DONATIONS AND EXPENDITURE

There were no political donations made during the year.

FIXED ASSETS

Details of movements in fixed assets are as disclosed in Note 12 of the financial statements.

EMPLOYMENT OF DISABLED PERSONS

The group applies the principles of fairness and equality of opportunity to both able bodied and disabled in its employment and recruitment policies. In the event of members of staff becoming disabled every effort is made to ensure that their employment in the group continues and the appropriate training is provided.

EMPLOYEE INVOLVEMENT

Bawnbua Foods Ltd subscribes to a Health and Safety and Welfare policy in which its primary objective is to provide and maintain healthy working conditions for all employees and others who may be affected by their operations.

Information concerning employees and their remuneration is given in the notes to the financial statements.

The group is committed to meeting and exceeding the current statutory requirements for health and safety at work. Industry standard compliant training arrangements and facilities are available to all employees to provide a safe and healthy work environment. The employees of the group are kept informed on matters through meetings and announcements.

The group's most important resource is its people; their knowledge and experience is crucial to meeting day to day requirements.

DISCLOSURE OF INFORMATION IN THE STRATEGIC REPORT

The strategic report has replaced a number of disclosures that had previously been included in the directors' report. This includes information that would have been included in the business review and the principal risks and uncertainties.

STREAMLINED ENERGY AND CARBON REPORTING

This report outlines the energy consumption and carbon emissions of Bawnbua Foods NI Ltd for the financial year ended 31 January 2025. The purpose of this disclosure is to provide stakeholders with a clear and transparent account of the company's energy usage and associated carbon footprint. This demonstrates the company's commitment to environmental sustainability and ensures compliance with Streamlined Energy and Carbon Reporting (SECR) regulations.

Energy Consumption Overview

During the reporting period, Bawnbua Foods NI Ltd has implemented various measures to enhance energy efficiency across our operations. These initiatives have not only contributed to our sustainability goals but also resulted in significant cost savings.

Key Energy Initiatives

- Investment in Energy-Efficient Technologies: Upgrades to our machinery and lighting systems have reduced energy consumption.

- Employee Engagement Programs: Training and awareness campaigns aimed at reducing energy waste among staff.

- Renewable Energy Sources: Exploration of renewable energy options to further decrease reliance on non-renewable resources.

Carbon Emissions Summary

Our commitment to reducing carbon emissions is reflected in our ongoing efforts to track and mitigate our environmental impact. The following table summarises our energy consumption and carbon emissions for the year ending 31st January 2025.

Market Based Emissions (tCO2e)

Location Based Emissions (tCO2e)

Scope 1

1,091.25

1,091.25

Scope 2

1,575.12

846.25

Scope 3

433.45

433.45

Total

3,099.82

2,370.95

FY25

FY24

Total tCO2e

3,099.82

3,183.61

Total Turnover

£44,905,145

£44,270,517

TCO2e / £m Turnover

69.03

71.91

Analysis and Future Outlook

The figures presented will be used to assess performance against previous years and to set clear targets for energy reduction and carbon neutrality. The company remains committed to continuous improvement and will actively pursue further opportunities to enhance its sustainability practices.

Future Goals

- Establish specific reduction targets for the next reporting year.

- Expand sustainability training programmes for employees.

- Continue to invest in renewable energy sources to reduce the carbon footprint.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors 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). 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable 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 company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director 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 group's auditors are aware of that information.

AUDITORS

The auditors, BMK Accounting Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D White - Director

31 October 2025

Opinion

We have audited the financial statements of Bawnbua Foods Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 January 2025 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 31 January 2025 and of the group's loss 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 group 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 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 and 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.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors 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 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 Report of the Directors.

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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages five and six, the directors are 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 directors determine 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 directors are responsible for assessing the group's and the parent 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 directors either intend to liquidate the group or the parent company or to cease operations, or have 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and industry, we identified the principal risks of non-compliance with laws and regulations related to data protection rules, health and safety legislation and environmental law. 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 and Financial Reporting Standards.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and determined that the principal risks related to fraudulent financial reporting and management bias in accounting estimates. We communicated the identified laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. Audit procedures performed by the auditors included, but were not limited to:

- Discussions with management including consideration of known or suspected instances of

non-compliance with laws and regulation and fraud;

- Reviewing key correspondence with external legal advisors;

- Challenging assumptions and judgements made by management in their significant accounting

estimates; and

- Identifying and testing of unusual journal entries.

Owing to 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.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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.

Brian McKee (Senior Statutory Auditor)

for and on behalf of BMK Accounting Limited

43 Lockview Road

Belfast

Antrim

BT9 5FJ

31 October 2025

TURNOVER

3

44,940,999

44,270,517

Cost of sales

39,767,364

38,995,216

GROSS PROFIT

5,173,635

5,275,301

Distribution costs

1,372,890

1,443,584

Administrative expenses

2,862,233

2,929,324

4,235,123

4,372,908

938,512

902,393

Other operating income

19,550

47,482

OPERATING PROFIT

5

958,062

949,875

Interest payable and similar expenses

7

902,201

819,280

PROFIT BEFORE TAXATION

55,861

130,595

Tax on profit

8

85,622

169,873

LOSS FOR THE FINANCIAL YEAR

(29,761

)

(39,278

)

Loss attributable to:

Owners of the parent

(29,761

)

(39,278

)

LOSS FOR THE YEAR

(29,761

)

(39,278

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(29,761

)

(39,278

)

Total comprehensive income attributable to:

Owners of the parent

(29,761

)

(39,278

)

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

4,330,824

4,650,874

Investments

13

-

-

4,330,824

4,650,874

CURRENT ASSETS

Stocks

14

8,988,733

10,631,333

Debtors

15

8,046,734

8,901,519

Cash at bank and in hand

411,179

550,137

17,446,646

20,082,989

CREDITORS

Amounts falling due within one year

16

13,084,863

16,164,778

NET CURRENT ASSETS

4,361,783

3,918,211

TOTAL ASSETS LESS CURRENT LIABILITIES

8,692,607

8,569,085

CREDITORS

Amounts falling due after more than one year

17

(1,750,793

)

(1,615,337

)

PROVISIONS FOR LIABILITIES

20

(373,956

)

(356,129

)

NET ASSETS

6,567,858

6,597,619

CAPITAL AND RESERVES

Called up share capital

21

107,200

107,200

Retained earnings

22

6,460,658

6,490,419

SHAREHOLDERS' FUNDS

6,567,858

6,597,619

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

D White - Director

G White - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

-

-

Investments

13

1,631,153

1,631,153

1,631,153

1,631,153

CURRENT ASSETS

Debtors

15

-

28,000

Cash at bank

330,516

1,511

330,516

29,511

CREDITORS

Amounts falling due within one year

16

303,005

2,000

NET CURRENT ASSETS

27,511

27,511

TOTAL ASSETS LESS CURRENT LIABILITIES

1,658,664

1,658,664

CAPITAL AND RESERVES

Called up share capital

21

107,200

107,200

Retained earnings

1,551,464

1,551,464

SHAREHOLDERS' FUNDS

1,658,664

1,658,664

Company's profit for the financial year

-

-

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by:

D White - Director

G White - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

107,200

6,766,192

6,873,392

Changes in equity

Dividends

-

(236,495

)

(236,495

)

Total comprehensive income

-

(39,278

)

(39,278

)

Balance at 31 January 2024

107,200

6,490,419

6,597,619

Changes in equity

Total comprehensive income

-

(29,761

)

(29,761

)

Balance at 31 January 2025

107,200

6,460,658

6,567,858

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 February 2023

107,200

1,551,464

1,658,664

Changes in equity

Balance at 31 January 2024

107,200

1,551,464

1,658,664

Changes in equity

Balance at 31 January 2025

107,200

1,551,464

1,658,664

Cash flows from operating activities

Cash generated from operations

1

1,689,354

1,411,646

Interest paid

(844,724

)

(733,144

)

Interest element of hire purchase payments paid

(57,477

)

(86,136

)

Tax paid

48,176

-

Net cash from operating activities

835,329

592,366

Cash flows from investing activities

Purchase of tangible fixed assets

(370,759

)

(502,467

)

Net cash from investing activities

(370,759

)

(502,467

)

Cash flows from financing activities

Loan repayments in year

(435,504

)

(435,504

)

Capital repayments in year

98,179

(147,830

)

Amount withdrawn by directors

(269,923

)

-

Equity dividends paid

-

(236,495

)

Net cash from financing activities

(607,248

)

(819,829

)

Decrease in cash and cash equivalents

(142,678

)

(729,930

)

Cash and cash equivalents at beginning of year

2

543,755

1,273,685

Cash and cash equivalents at end of year

2

401,077

543,755

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

31.1.25

31.1.24

£

£

Profit before taxation

55,861

130,595

Depreciation charges

690,809

697,747

Finance costs

902,201

819,280

1,648,871

1,647,622

Decrease/(increase) in stocks

1,642,600

(2,856,499

)

Decrease/(increase) in trade and other debtors

1,124,708

(1,758,370

)

(Decrease)/increase in trade and other creditors

(2,726,825

)

4,378,893

Cash generated from operations

1,689,354

1,411,646

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2025

31.1.25

1.2.24

£

£

Cash and cash equivalents

411,179

550,137

Bank overdrafts

(10,102

)

(6,382

)

401,077

543,755

Year ended 31 January 2024

31.1.24

1.2.23

£

£

Cash and cash equivalents

550,137

1,280,526

Bank overdrafts

(6,382

)

(6,841

)

543,755

1,273,685

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.2.24

Cash flow

At 31.1.25

£

£

£

Net cash

Cash at bank and in hand

550,137

(138,958

)

411,179

Bank overdrafts

(6,382

)

(3,720

)

(10,102

)

543,755

(142,678

)

401,077

Debt

Finance leases

(731,654

)

(98,179

)

(829,833

)

Debts falling due within 1 year

(435,504

)

-

(435,504

)

Debts falling due after 1 year

(1,001,027

)

435,504

(565,523

)

(2,168,185

)

337,325

(1,830,860

)

Total

(1,624,430

)

194,647

(1,429,783

)

1.	STATUTORY INFORMATION

Bawnbua Foods Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the General 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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Purchased goodwill is capitalised at cost and an annual impairment review is carried out by the directors to establish whether the present value of the future cashflows that the acquired companies will earn are, or are not, enough to justify the carrying value of the goodwill.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 20% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.