Reeve And Company Limited

Registered number

02129739

Report and Financial Statements

31 March 2025

Smithfield Accountants LLP

Chartered Accountants

Suite 1, Unit 2, Stansted Courtyard

Parsonage Road, Takeley, Essex, CM22 6PU

Reeve And Company Limited
Registered number:		02129739
Director's Report

The director presents his report and financial statements for the year ended 31 March 2025.

Principal activities
The company's principal activity during the year continued to be that of wholesale butchers.

During the period, the parent company redeemed the entire share capital of one of its owners, leaving the parent company Hampshire Meats Ltd as having all shares owned by director E K Graves. See note 23.

Dividends
The directors recommend a final dividend of £nil (2024 - £nil).

Directors
The following persons served as directors during the year:

	E K Graves

Events since the Balance Sheet date
At the date of this report 25% of the share capital of the parent company had been acquired by Mrs S Graves, wife of director E K Graves. At the date of this report, the company had fully repaid and discontinued its invoice discounting facility. This is expected to increase profitabiity and reduce dependance on lenders going forward.

Business relationships
The director recognises the need to foster relationships with the company's suppliers, customers, service providers and regulators. Agreements and compliance are maintained throughout the year to ensure smooth trading conditions.

Section 414C(11)
The company has chosen in accordance with s414C(11) Companies Act 2006 to set out in the company's strategic report information required by schedule 7 of the large and medium-sized companies and groups (Accounts and Reports) Regulations 2008 to be contained in the Directors' Report. It has done so in respect of principal risks and uncertainties, review of the business and future developments.

Disclosure of information to auditors

The director confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is 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 auditor is aware of that information.


This report was approved by the board on 26 November 2025 and signed on its behalf.



E K Graves
Director

Reeve And Company Limited
Statement of Director's Responsibilities

The director is responsible for preparing the report and 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 (Financial Reporting Standard 102 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 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 estimates that are reasonable and prudent;
●	state whether applicable UK 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 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.

Reeve And Company Limited
Strategic Report

Strategic Management
The director regularly reviews the operations of the company with a view of reducing operational expenses. The company's long term finance arrangement through a bank loan and sufficient overdraft and factoring facilities continue to be suitable for the company's needs in covering day to day expenditure. These facilities give the company more flexibility than it previously had and at a lower cost, enabling it to increase profits further. In prior years, an additional partly-government secured loan was taken out to reduce the dependence on overdraft and factoring, which has reduced borrowing costs. The director keeps this under review, but is not looking to change this arrangement in the near future. While the director is pleased that the company remains profitable despite harsh a trading environment and economic downturn, he believes that the company will improve its profits to previous levels. Following the COVID-19 pandemic, sales have begun to recover, but margins are still negatively impacted by supply issues. The director believes these issues are now easing and profitability will return to previous levels in the coming years.

Business Environment
Principal risks and uncertainties: The director keeps the risk and uncertainties that effect the business under constant review. The principle areas are as follows: Market risk: The company supplies the wholesale sector, and in order to remain competitive, it is always keeping buying arrangements with suppliers under review, so as to obtain the best prices possible. Regulatory risk: The company is being required to maintain a HACCUP system so as to be able to trace, in and out all meat bought and sold. The company maintains this requirement, by arranging specialist consultants to advise and review operations. Financial and bad debt risk: The company is dependent on external finance, and has entered into financial agreements with its bankers to secure its financial requirements. In order to mitigate the risk of bad debts, the company also has effected bad debt insurance cover. The risk of bad debts is also controlled by limiting exposure to uninsurable debts. A level of bad debts is unavoidable, but management reduces exposure to this by controlling debts to higher risk customers. Price risk: The director regularly reviews suppliers and margins in relation to goin rates to ensure that favourable trading terms are obtained.




Reeve And Company Limited
Strategic Report

Liquidity and cashflow risk: The company has agreed an overdraft and factoring facility with the bank, and keeps a regular review on its outstanding debtors, to ensure that the company has adequate resources to pay its debts as they fall due.

Business Performance
The director is pleased that gross profits continue despite conditions and intends to return profits to previous levels. The decrease in gross profit is due to a reduction in margin of 0.6% to 6.4%, despite an increase in sales of 1.4%. This decrease is largely due to the continued supply availability causing price variance and it being difficult to pass costs onto customers. The director expects this change to reverse in the coming year as supply imporves. Expenditure has been largely controlled, with overheads being largely unchanged apart from pensions, which have decreased, and bank charges and bad debts, which have increased again. The director continues to believe that bad debts will not reoccur at the same scale in future as they did in prior years. At the date of this report the tenants of the market and the City of London had agreed a new deal, which is awaiting parliamentary approval and royal assent. The first part of the compensation of this deal has already been received and the remainder is to be received in tranches after royal assent. The director believes this will happen with little or no changes to the bill. The company is prepared to continue to trade out of the existing site and set up to trade from the new site, when it is ready. The director expects the company to continue to trade profitably regardless of the timings and details of the change. Debtor days has decreased by 11 days to 46 days. Creditor days has decreased by 7 days to 35 days.

This report was approved by the board on 26 November 2025 and signed on its behalf.



E K Graves
Director

Reeve And Company Limited
Independent auditor's report
to the members of Reeve And Company Limited

Opinion

We have audited the financial statements of Reeve And Company Limited for the year ended 31 March 2025 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows 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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
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 an auditor's report 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.
In our opinion the financial statements:
●	give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Emphasis of matter
We would draw the user's attention to note 23, which details the change in ownership of the company, before the year end. At the date of this report 25% of the share capital of the parent company had been acquired by Mrs S Graves, wife of director E K Graves. These changes have not affected overall control of the company and have no affect on our audit opinion.

Basis of 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 Auditor’s 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 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 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 other information comprises the information included in the report and financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
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 directors’ report.
We have nothing to report in respect of the following matters in relation to which 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 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 directors’ responsibilities statement, 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 is 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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 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:

There is always a risk that fraud or irregularity would not be detected in an audit, but we believe that this would take a significant collusion that would be unlikely to go undetected by management or the audit team.

Detection of fraud is also affected by the effectiveness of the entity's controls, and the nature, timing and extent of audit procedures performed. While these controls and procedures are deemed to be good, there remains a risk that non-compliance will not be detected.

The audit team identified that compliance with food standards, and company and tax law are applicable through knowledge of the industry, its knowledge of requirements on UK businesses and discussions with the director. Compliance with these is assessed during the audit by checking certifications, calculations and statutory filings. The audit team is always vigilant to look out for money laundering or other unexpected financial activity. For this reason, we believe that our procedures are suitable.

The audit team are well experienced and qualified in conducting this kind of audit engagement, and in recognising and reporting fraud, where appropriate. The engagement partner is satisfied that where instances of non-compliance are found in testing, these would be recognised and correctly dealt with.

As part of an audit in accordance with ISAs (UK), the auditor excercises professional judgement and maintains professional scepticism throughout the 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 auditor’s report.






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 directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.

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 an auditor's report 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.


S Poli MEng ACA
(Senior Statutory Auditor)		Suite 1, Unit 2, Stansted Courtyard
for and on behalf of		Parsonage Road, Takeley, Essex, CM22 6PU
Smithfield Accountants LLP
Chartered Accountants and Statutory Auditors
26 November 2025

Reeve And Company Limited
Income Statement
for the year ended 31 March 2025


Notes		2025	2024
		£000	£000

Turnover	2	27,821	27,441

Cost of sales		(26,030)	(25,456)

Gross profit		1,791	1,985

Administrative expenses		(3,671)	(1,943)
Other operating income		-	-

Operating (loss)/profit	3	(1,880)	42

Proceeds on lease amendment		2,244	-
Interest receivable		32	85
Interest payable	6	(49)	(40)

Profit on ordinary activities before taxation		347	87

Tax on profit on ordinary activities	7	(96)	(22)

Profit for the financial year		251	65

Reeve And Company Limited
Statement of comprehensive income
for the year ended 31 March 2025


Notes		2025	2024
		£000	£000

Profit for the financial year		251	65

Other comprehensive income
Gain on revaluation of land and buildings	8	-	-
Deferred taxation arising on the revaluation of land and buildings	14	-	-

Total comprehensive income for the year		251	65

Reeve And Company Limited
Statement of Financial Position
as at 31 March 2025

Notes			2025		2024
			£000		£000
Fixed assets
Tangible assets	8		1,414		1,419

Current assets
Stocks	9	80		199
Debtors	10	8,377		7,831
Cash at bank and in hand		1,348		1,692
		9,805		9,722

Creditors: amounts falling due within one year	11	(3,944)		(3,987)

Net current assets			5,861		5,735

Total assets less current liabilities			7,275		7,154

Creditors: amounts falling due after more than one year	12		(82)		(208)

Provisions for liabilities
Deferred taxation	14		(113)		(117)

Net assets			7,080		6,829

Capital and reserves
Called up share capital	15		-		-
Share premium	16		50		50
Other reserves	17		1,250		1,250
Profit and loss account	18		5,780		5,529

Total equity			7,080		6,829




E K Graves
Director
Approved by the board on 26 November 2025

Reeve And Company Limited
Statement of Changes in Equity
for the year ended 31 March 2025

Share		Share		Other		Profit		Total
capital		premium		reserves		and loss
account
	£000		£000		£000		£000		£000

At 1 April 2023	-		50		1,250		5,464		6,764

Profit for the financial year							137		137

Gain on revaluation of land and buildings					-				-
Deferred taxation arising on the revaluation of land and buildings					-				-
Other comprehensive income for the financial year	-		-		-		-		-
Total comprehensive income for the financial year	-		-		-		137		137

Dividends							-		-
Shares issued	-		-						-
Shares redeemed	-								-

At 31 March 2024	-		50		1,250		5,601		6,901
Correction of prior year errors							(72)		(72)
Effect of retrospective changes in accounting policies							-		-
At 31 March 2024 as restated	-		50		1,250		5,529		6,829



At 1 April 2024	-		50		1,250		5,529		6,829

Profit for the financial year							251		251

Gain on revaluation of land and buildings					-				-
Deferred taxation arising on the revaluation of land and buildings					-				-
Other comprehensive income for the financial year	-		-		-		-		-
Total comprehensive income for the financial year	-		-		-		251		251

Dividends							-		-
Shares issued	-		-						-
Shares redeemed	-								-

At 31 March 2025	-		50		1,250		5,780		7,080

Reeve And Company Limited
Statement of Cash Flows
for the year ended 31 March 2025

Notes		2025	2024
		£000	£000
Operating activities
Profit for the financial year		251	65

Adjustments for:
Proceeds on lease amendment		(2,244)	-
Interest receivable		(32)	(85)
Interest payable		49	40
Tax on profit on ordinary activities		96	22
Depreciation		10	9
Decrease/(increase) in stocks		119	(119)
(Increase)/decrease in debtors		(546)	1,359
(Decrease)/increase in creditors		(123)	175
		(2,420)	1,466

Interest received		32	85
Interest paid		(49)	(40)
Corporation tax paid		(28)	(842)

Cash (used in)/generated by operating activities		(2,465)	669

Investing activities
Payments to acquire tangible fixed assets		(5)	-
Proceeds on lease amendment		2,244	-

Cash generated by investing activities		2,239	-

Financing activities
Equity dividends paid		-	-
Repayment of loans		(127)	(118)

Cash used in financing activities		(127)	(118)

Net cash (used)/generated
Cash (used in)/generated by operating activities		(2,465)	669
Cash generated by investing activities		2,239	-
Cash used in financing activities		(118)	(118)

Net cash (used)/generated		(344)	551

Cash and cash equivalents at 1 April		1,692	1,141
Cash and cash equivalents at 31 March		1,348	1,692

Cash and cash equivalents comprise:
Cash at bank		1,348	1,692
Bank overdrafts	11	-	-
		1,348	1,692

Reeve And Company Limited
Notes to the Accounts
for the year ended 31 March 2025

1	Summary of significant accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			Straight line over 15 years
	Short leasehold			See note 9
	Fixtures and fittings			15% on reducing balance
	Computer equipment			33% on reducing balance

	Motor vehicles			Straight line over 15 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.











	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.










2	Analysis of turnover					2025		2024
						£000		£000

	Sale of goods					27,821		27,441
						27,821		27,441

	By geographical market:

	UK					27,821		27,441
						27,821		27,441


3	Operating profit					2025		2024
						£000		£000
	This is stated after charging:

	Depreciation of owned fixed assets					10		9
	Director's emoluments					140		139
	Bank charges and interest					208		191
	Operating lease rentals - plant and machinery					19		12
	Operating lease rentals - land and buildings					142		140
	Auditors' remuneration for audit of company					17		16
	Carrying amount of stock sold					26,030		25,456

	Disclosures of expenditure not included in this set of accounts:
	Auditors' remuneration for audit of associated company					4		3


4	Director's emoluments					2025		2024
						£000		£000

	Emoluments					80		79
	Company contributions to defined contribution pension plans					60		60
						140		139

	Highest paid director:
	Emoluments					80		79
	Company contributions to defined contribution pension plans					60		60
						140		139

5	Staff costs					2025		2024
						£000		£000

	Wages and salaries					818		834
	Social security costs					75		78
	Other pension costs					258		218
						1,151		1,130

	Average number of employees during the year					Number	Number

						21		21

6	Interest payable					2025		2024
						£000		£000

	Bank loans and overdrafts					31		15
	Other loans					18		25
						49		40

7	Taxation					2025		2024
						£000		£000
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period					87		24
	Adjustments in respect of previous periods					13		-
						100		24

	Deferred tax:
	Origination and reversal of timing differences					(4)		(2)
	Effect of increased tax rate on opening liability					-		-
						(4)		(2)


	Tax on profit on ordinary activities					96		22


	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:

						2025		2024
						£000		£000
	Profit on ordinary activities before tax					347		87

	Standard rate of corporation tax in the UK					25%	25%

						£000		£000
	Profit on ordinary activities multiplied by the standard rate of corporation tax					87		22

	Effects of:
	Expenses not deductible for tax purposes					-		-
	Capital allowances for period in excess of depreciation					-		2
	Adjustments to tax charge in respect of previous periods					13		-

	Current tax charge for period					100		24






8	Tangible fixed assets
		Short leasehold	Plant and machinery, fixtures and fittings, computer equipment			Motor vehicles		Total
		At valuation		At cost		At cost
		£000		£000		£000		£000
	Cost or valuation
	At 1 April 2024	1,350		418		-		1,768
	Additions	-		5		-		5
	Revaluation	-		-		-		-
	Disposals	-		-		-		-
	At 31 March 2025	1,350		423		-		1,773

	Depreciation
	At 1 April 2024	-		349		-		349
	Charge for the year	-		10		-		10
	On disposals	-		-		-		-
	At 31 March 2025	-		359		-		359

	Carrying amount
	At 31 March 2025	1,350		64		-		1,414
	At 31 March 2024	1,350		69		-		1,419

	Short Leasehold:					2025		2024
						£000		£000

	Historical cost					-		-
	Cumulative depreciation based on historical cost					-		-
	Valuation 2004					500		500
	Surplus on 2015 revaluation					450		450
	Surplus on 2017 revaluation					400		400

						1,350		1,350

	The leasehold on the market stall is revalued regularly by a qualified professional who is external to the company. The director believes that this is sufficient so as to show an up to date valuation of the stall in the financial statements. Depreciation is therefore not provided.

	The cost of the asset was £nil. The company had its trading stall revalued by Messrs Savills Chartered Surveyors on 30th April 2015, who gave it a value of £950,000. Following this, the company had its trading stall revalued by Messrs Savills Chartered Surveyors on 31st August 2017, who gave it a value of £1,350,000. The director believes this value has not changed materially since this date and therefore this value is used in the accounts.

	A capital gain that would be subject to corporation tax would arise on the lease if it were disposed of. The tax due would be £337,500 at current tax rates.

	The leasehold has been valued as a fully-equipped operational entity having regard to its trading potential.

9	Stocks					2025		2024
						£000		£000

	Raw materials and consumables					80		199
						80		199


10	Debtors					2025		2024
						£000		£000

	Trade debtors					3,501		4,318
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					4,016		3,187
	Other debtors					810		156
	Compensation receivable					-		-
	Trade loan					50		170
						8,377		7,831


	Amounts due after more than one year included in:
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					4,016		3,187
	Trade loan					50		237
						4,066		3,424

	An invoice discounting arrangement exists with Barclays Bank Plc. The Trade Debtors are shown as current assets, although the bankholds them as security for Invoice Discounting.

	The amounts owed by group undertakings is the intercompany balance with parent company Hampshire Meats Ltd. The amount is interest free and has a repayment date of one year and one day.

	The trade loan is interest free and a repayment schedule has been agreed. The full amount falls due to be repaid in less than 5 years. The effects of discounting have not been included as they are immaterial.


11	Creditors: amounts falling due within one year					2025		2024
						£000		£000

	Bank loans (note 13)					77		77
	Invoice discounting account					989		707
	Trade creditors					2,495		2,944
	Corporation tax					87		7
	Other taxes and social security costs					24		26
	Other creditors					272		226
						3,944		3,987

	The Invoice Discounting and Bank Loans are secured on the Trade Debtors, by a charge on the assets of the company and its parent and by personal guarantees from the director totalling £400,000.
12	Creditors: amounts falling due after one year					2025		2024
						£000		£000

	Bank loans (note 13)					82		208
	Other creditors					-		-
						82		208

	The Bank Loans are secured on Trade Debtors, by a charge on the assets of the company and its parent, and by a guarantee from the director for £400,000.


13	Loans					2025		2024
						£000		£000
	Analysis of maturity of debt:
	Within one year or on demand					77		77
	Between one and two years					82		154
	Between two and five years					-		54
	After five years					-		-
						159		285

	The Bank Loans are secured on Trade Debtors, by a charge on the assets of the company and its parent. Of the bank loans, there is a £159,000 loan which is 80% government secured.


14	Deferred taxation					2025		2024
						£000		£000

	Revaluation of land and buildings					100		100
	Accelerated capital allowances					17		19
						117		119


						2025		2024
						£000		£000

	At 1 April					117		119
	Credited to the profit and loss account					(4)		(2)
	Charged to other comprehensive income					-		-

	At 31 March					113		117


15	Share capital	Nominal		2025		2025		2024
value			Number			£000		£000
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		200		-		-

	Each share is entitled to one vote and to participte in the equity of the company.

16	Share premium					2025		2024
						£000		£000

	At 1 April					50		50
	Shares issued					-		-

	At 31 March					50		50


17	Other reserves					2025		2024
	Revaluation reserve					£000		£000

	At 1 April					1,250		1,250
	Gain on revaluation of land and buildings					-		-
	Deferred taxation arising on the revaluation of land and buildings					-		-

	At 31 March					1,250		1,250


18	Profit and loss account					2025		2024
						£000		£000

	At 1 April					5,529		5,464
	Profit for the financial year					251		65
	Dividends					-		-

	At 31 March					5,780		5,529


19	Dividends					2025		2024
						£000		£000

	Dividends on ordinary shares (note 18)					-		-
						-		-


20	Other financial commitments

	Total future minimum lease payments under non-cancellable operating leases:

		Land and buildings		Land and buildings	Other		Other
		2025		2024		2025		2024
		£000		£000		£000		£000
	Falling due:
	within one year	142		142		40		41
	within two to five years	426		568		46		46
	in over five years	284		426		-		-
		852		1,136		86		87


21	Contingent liabilities

	The company and its parent company Hampshire Meats Ltd have provided security to Barclays Bank PLC for each others' debts (see note 22).


22	Related party transactions					2025		2024
						£000		£000
	Hampshire Meats Ltd
	Parent Company
	Intercompany Loan					4,016		3,187

	Hampshire Meats Ltd
	Parent Company
	Management Charge					11		10

	B Timms
	Shareholder of parent company
	Loan from shareholder					-		-

	S Graves, A Graves, J Graves and S Corbett
	Relatives of director
	Pension contributions					240		140


	The loans to and from directors and shareholders are interest free and fall due to be paid within two months of the year end.

	The company and its parent company have provided security to Barclays Bank PLC for each others' debts.


23	Controlling party

	Reeve and Company Ltd is owned 100% by Hampshire Meats Ltd, which is owned 100% (2024 - 90%) by E K Graves. During the prior year, Hampshire Meats Ltd purchased all of the shares held by E K Graves at market value, bringing its shareholding from 75% to 100%. Hampshire Meats Ltd is the ultimate parent. It is a private company limited by shares, registered in England at the same registered address as the company.

	The accounts present information about the company as an individual undertaking and not about its group.


24	Presentation currency

	The financial statements are presented in Sterling.


25	Legal form of entity and country of incorporation

	Reeve And Company Limited is a private company limited by shares and incorporated in England.
26	Principal place of business

	The address of the company's principal place of business is:

	9/11 East Market Buildings
	London Central Markets
	London EC1A 9PQ

	The company's registered office is:

	Suite 1, Unit 2, Stansted Courtyard
	Parsonage Road, Takeley, Essex, CM22 6PU