Company registration number 01329286 (England and Wales)
LEEDS BACON COMPANY (1977) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
LEEDS BACON COMPANY (1977) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
LEEDS BACON COMPANY (1977) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
229,646
234,384
Investment property
4
202,000
215,000
431,646
449,384
Current assets
Stocks
5
96,898
76,857
Debtors
6
384,599
388,961
Cash at bank and in hand
20,500
41,000
501,997
506,818
Creditors: amounts falling due within one year
7
(615,398)
(603,127)
Net current liabilities
(113,401)
(96,309)
Total assets less current liabilities
318,245
353,075
Creditors: amounts falling due after more than one year
8
(24,092)
(28,537)
Provisions for liabilities
(30,000)
(30,967)
Net assets
264,153
293,571
Capital and reserves
Called up share capital
9,792
9,792
Capital redemption reserve
40,208
40,208
Other reserves
58,555
69,085
Profit and loss reserves
155,598
174,486
Total equity
264,153
293,571
LEEDS BACON COMPANY (1977) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2025
28 February 2025
- 2 -

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 November 2025 and are signed on its behalf by:
S E Campbell
Director
Company registration number 01329286 (England and Wales)
LEEDS BACON COMPANY (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

Leeds Bacon Company (1977) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 102 - 106 Henconner Lane, Bramley, LEEDS, LS13 4LG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at the following annual rates in order to write off each asset over estimated useful life or, held under finance leases, over the lease term, whichever the shorter.
Land and buildings Freehold
2% on cost for freehold buildings
Plant and machinery
15% on reducing balance
Computer equipment
25 % on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

LEEDS BACON COMPANY (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

LEEDS BACON COMPANY (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.13
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
LEEDS BACON COMPANY (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 6 -
1.14
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
20
23
LEEDS BACON COMPANY (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 7 -
3
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 29 February 2024
264,037
869,503
33,454
178,999
1,345,993
Additions
-
0
-
0
-
0
22,250
22,250
At 28 February 2025
264,037
869,503
33,454
201,249
1,368,243
Depreciation and impairment
At 29 February 2024
130,865
819,646
32,443
128,655
1,111,609
Depreciation charged in the year
5,281
7,478
253
13,976
26,988
At 28 February 2025
136,146
827,124
32,696
142,631
1,138,597
Carrying amount
At 28 February 2025
127,891
42,379
758
58,618
229,646
At 28 February 2024
133,172
49,857
1,011
50,344
234,384
4
Investment property
2025
£
Fair value
At 29 February 2024
215,000
Revaluations
(13,000)
At 28 February 2025
202,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in February 2025 by a professional estate agent. The directors believe this still reflects fair value at the reporting date.

5
Stocks
2025
2024
£
£
Stocks
96,898
76,857
LEEDS BACON COMPANY (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 8 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
364,438
370,976
Other debtors
20,161
17,985
384,599
388,961
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
178,583
188,141
Trade creditors
371,354
324,762
Corporation tax
5,365
7,324
Other taxation and social security
13,167
28,594
Other creditors
46,929
54,306
615,398
603,127

Other creditors includes amounts outstanding on hire purchase creditors of £20,304 (2024: £12,953) which are secured by the assets to which they relate.

Bank borrowings include an overdraft amounting to £168,251 (2024: £178,141) secured by a charge on the company's freehold property and other assets.

Included within bank loans and overdrafts is a Coronavirus Bounce Back Loan which is secured by way of government guarantee, with £10,332 (2024: £10,000) due within one year.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
4,366
14,165
Other creditors
19,726
14,372
24,092
28,537

Other creditors represent amounts outstanding on hire purchase creditors which are secured by the assets to which they relate.

Included within bank loans and overdrafts is a Coronavirus Bounce Back Loan which is secured by way of government guarantee, with £4,336 (2024: £14,165) due within one year.

LEEDS BACON COMPANY (1977) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 9 -
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
14,781
14,462
2025-02-28 2024-02-29 false false false 20 November 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr G Reed Mrs S E Campbell S E Campbell 01329286 2024-02-29 2025-02-28 01329286 2025-02-28 01329286 2024-02-28 01329286 core:LandBuildings core:OwnedOrFreeholdAssets 2025-02-28 01329286 core:PlantMachinery 2025-02-28 01329286 core:ComputerEquipment 2025-02-28 01329286 core:MotorVehicles 2025-02-28 01329286 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-28 01329286 core:PlantMachinery 2024-02-28 01329286 core:ComputerEquipment 2024-02-28 01329286 core:MotorVehicles 2024-02-28 01329286 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 01329286 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 01329286 core:WithinOneYear 2025-02-28 01329286 core:WithinOneYear 2024-02-28 01329286 core:AfterOneYear 2025-02-28 01329286 core:AfterOneYear 2024-02-28 01329286 core:CurrentFinancialInstruments 2025-02-28 01329286 core:CurrentFinancialInstruments 2024-02-28 01329286 core:Non-currentFinancialInstruments 2025-02-28 01329286 core:Non-currentFinancialInstruments 2024-02-28 01329286 core:ShareCapital 2025-02-28 01329286 core:ShareCapital 2024-02-28 01329286 core:CapitalRedemptionReserve 2025-02-28 01329286 core:CapitalRedemptionReserve 2024-02-28 01329286 core:OtherMiscellaneousReserve 2025-02-28 01329286 core:OtherMiscellaneousReserve 2024-02-28 01329286 core:RetainedEarningsAccumulatedLosses 2025-02-28 01329286 core:RetainedEarningsAccumulatedLosses 2024-02-28 01329286 bus:CompanySecretaryDirector1 2024-02-29 2025-02-28 01329286 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-29 2025-02-28 01329286 core:PlantMachinery 2024-02-29 2025-02-28 01329286 core:ComputerEquipment 2024-02-29 2025-02-28 01329286 core:MotorVehicles 2024-02-29 2025-02-28 01329286 2023-03-01 2024-02-28 01329286 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-28 01329286 core:PlantMachinery 2024-02-28 01329286 core:ComputerEquipment 2024-02-28 01329286 core:MotorVehicles 2024-02-28 01329286 2024-02-28 01329286 bus:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 01329286 bus:FRS102 2024-02-29 2025-02-28 01329286 bus:AuditExemptWithAccountantsReport 2024-02-29 2025-02-28 01329286 bus:Director1 2024-02-29 2025-02-28 01329286 bus:Director2 2024-02-29 2025-02-28 01329286 bus:CompanySecretary1 2024-02-29 2025-02-28 01329286 bus:SmallCompaniesRegimeForAccounts 2024-02-29 2025-02-28 01329286 bus:FullAccounts 2024-02-29 2025-02-28 xbrli:pure xbrli:shares iso4217:GBP