REGISTERED NUMBER: 06545275 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

SOUTH AFRICAN FOODS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Malde

J J Malde

D J Malde

SECRETARY:

J J Malde

REGISTERED OFFICE:

11 Greenhill Crescent

Watford Business Park

Watford

Hertfordshire

WD18 8QU

REGISTERED NUMBER:

06545275 (England and Wales)

ACCOUNTANTS:

MGR MAP Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

BANKERS:

HSBC Bank Plc

73 High Street

Watford

Hertfordshire

WD17 2DS

FIXED ASSETS

Tangible assets

4

101,572

99,001

Investments

5

10,000

10,000

111,572

109,001

CURRENT ASSETS

Stocks

148,602

162,011

Debtors

6

290,913

271,120

Cash at bank

407,835

531,950

847,350

965,081

CREDITORS

Amounts falling due within one year

7

(72,980

)

(197,686

)

NET CURRENT ASSETS

774,370

767,395

TOTAL ASSETS LESS CURRENT LIABILITIES

885,942

876,396

CREDITORS

Amounts falling due after more than one year

8

(23,895

)

(40,802

)

PROVISIONS FOR LIABILITIES

(20,026

)

-

NET ASSETS

842,021

835,594

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

841,721

835,294

842,021

835,594

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2025 and were signed on its behalf by:

J J Malde - Director

1.	STATUTORY INFORMATION

South African Foods 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

evenly over the period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

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.

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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

-

273,090

273,090

Additions

16,068

11,781

27,849

At 31 March 2025

16,068

284,871

300,939

DEPRECIATION

At 1 April 2024

-

174,089

174,089

Charge for year

744

24,534

25,278

At 31 March 2025

744

198,623

199,367

NET BOOK VALUE

At 31 March 2025

15,324

86,248

101,572

At 31 March 2024

-

99,001

99,001

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

10,000

NET BOOK VALUE

At 31 March 2025

10,000

At 31 March 2024

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

34,659

53,919

Other debtors

256,254

217,201

290,913

271,120

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,462

10,000

Trade creditors

23,044

30,522

Taxation and social security

16,299

77,536

Other creditors

23,175

79,628

72,980

197,686

Included under other creditors is £10,637 (2024 - £10,281) in respect of hire purchase contracts which are secured over the assets concerned.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,769

12,439

Other creditors

22,126

28,363

23,895

40,802

Other creditors relate to hire purchase contracts which are secured over the assets concerned.

9.	LEASING AGREEMENTS

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

31.3.25

31.3.24

£

£

Within one year

174,996

-

Between one and five years

699,984

-

In more than five years

627,069

-

1,502,049

-

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £1,500 (2024 - £3,000) were paid in the year in respect of shares held by the directors.

11.	RELATED PARTY DISCLOSURES

The Company made purchases of £784,879 (2024 - £964,812) from JDM Distributors Limited, a company under common control.

Included under other debtors is £202,710 (2024 - £171,195) due from JDM Distributors Limited.

The Company made purchases of £217,094 (2024 - £314,110) and sales of £250,042 (2024 - £291,672 to Nutrition Brands Limited, a company in which Mr J Malde, Mr M Malde and Mr D Malde are directors and shareholders. Included under other debtors is £8,510 (2024 - £11,881) due from Nutrition Brands Limited.