REGISTERED NUMBER: 01547227 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CENTRAL MEAT (SMITHFIELD) LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Intangible assets

4

-

3,964

Property, plant and equipment

5

769,597

741,310

769,597

745,274

CURRENT ASSETS

Inventories

62,053

72,205

Debtors

6

816,203

649,499

Cash at bank and in hand

464,625

908,738

1,342,881

1,630,442

CREDITORS

Amounts falling due within one year

7

777,998

1,073,424

NET CURRENT ASSETS

564,883

557,018

TOTAL ASSETS LESS CURRENT LIABILITIES

1,334,480

1,302,292

PROVISIONS FOR LIABILITIES

8

23,149

15,610

NET ASSETS

1,311,331

1,286,682

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Revaluation reserve

9

655,000

655,000

Retained earnings

651,331

626,682

1,311,331

1,286,682

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 December 2025 and were signed by:

Mr P Stratis - Director

1.	STATUTORY INFORMATION

Central Meat (Smithfield) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01547227

Registered office:

1 Kings Avenue

Winchmore Hill

London

N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax.

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

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.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Computer equipment - 25% on reducing balance

Fixtures and fittings - 15% on reducing balance

Motor vehicles - 20% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Land and building held and used in the Company's own activities for production and supply of goods or for

administration purposes are stated in the statement of financial position at their revalued amounts. Revaluations are carried out regularly so that the carrying amounts do not materially differ form using the fair value at the date of the statement of financial position.

Any revaluation increase or decrease on land and buildings is credited to the property revaluation reserve.

Once the property is sold or retired any attributable revaluation surplus that is remaining in the property revaluation reserve is transferred to retained earnings. No transfer is made from the revaluation reserve to retained earnings unless an asset is derecognised.

Inventories

Inventories 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 inventory sold is recognised as an expense in the period in which the related revenue is recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity and has no further payment obligations.

The contributions are recognised as an expense in profit or loss in the period as employees provide service.

Amounts due but unpaid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Cash and cash equivalent

Cash at bank and in hand 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.

Financial instruments

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

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.

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. Amounts 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.

Called up share capital and reserves

Called-up share capital represents the nominal value of ordinary shares that have been issued. The share premium account includes any premiums received on issue of share capital. Any transaction costs associated with issuing shares are deducted from share premium.

The retained earnings include all current and prior period retained profits and losses.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. These amounts are recognised in the statement of changes in equity.

New or revised standards or interpretations

Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs Periodic Review 2024

On 27 March 2024, the FRC issued Amendments to FRS 102. The effective date for most amendments is accounting periods beginning on or after 1 January 2026, with earlier adoption permitted. The Amendments include new disclosures for supplier finance arrangements that are mandatorily effective from 1 January 2025.

The most significant amendments are the replacement of Section 23, now renamed Revenue from Contracts with Customers, and Section 20 Leases. The many other less significant changes, including a new Section 2A Fair Value Measurement, are not currently expected to have a material impact. The new revenue and leasing requirements seek to provide greater consistency and alignment to the international accounting standards, i.e. IFRS 15 and IFRS 16.

The Company is planning for the implementation of these change and is at an early stage in evaluating their financial impact. Under the new lease accounting requirements management expects that these amounts would be recognised on-balance sheet, with a lease liability based on the discounted value of the future commitments, plus payments related to optional extension periods if considered reasonably certain, and a related ‘right-of-use’ asset. Management is reviewing existing revenue contracts to determine the overall recognition, measurement, presentation and disclosure impact.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

99,148

AMORTISATION

At 1 April 2024

95,184

Charge for year

3,964

At 31 March 2025

99,148

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

3,964

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Short

Fittings

Motor

Computer

leasehold

& Machinery

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2024

655,000

474,387

-

17,302

1,146,689

Additions

-

-

41,490

-

41,490

At 31 March 2025

655,000

474,387

41,490

17,302

1,188,179

DEPRECIATION

At 1 April 2024

-

390,641

-

14,738

405,379

Charge for year

-

12,562

-

641

13,203

At 31 March 2025

-

403,203

-

15,379

418,582

NET BOOK VALUE

At 31 March 2025

655,000

71,184

41,490

1,923

769,597

At 31 March 2024

655,000

83,746

-

2,564

741,310

Cost or valuation at 31 March 2025 is represented by:

Fixtures

and

Short

Fittings

Motor

Computer

leasehold

& Machinery

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2015

580,000

-

-

-

580,000

Valuation in 2017

75,000

-

-

-

75,000

Cost

-

474,387

41,490

17,302

533,179

655,000

474,387

41,490

17,302

1,188,179

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

(Unaudited)

£

£

Trade debtors

492,887

532,878

Amounts owed by group undertakings

97,025

32,117

Other debtors

226,291

84,504

816,203

649,499

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

(Unaudited)

£

£

Trade creditors

465,309

466,347

Amounts owed to group undertakings

-

497,629

Taxation and social security

148,878

73,531

Other creditors

163,811

35,917

777,998

1,073,424

8.	PROVISIONS FOR LIABILITIES

2025

2024

(Unaudited)

£

£

Deferred tax

23,149

15,610

Deferred

tax

£

Balance at 1 April 2024

15,610

Provided during year

7,539

Balance at 31 March 2025

23,149

9.

RESERVES

Revaluation

reserve

£

At 1 April 2024

and 31 March 2025

655,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alekos Christofi (Senior Statutory Auditor)

for and on behalf of AGK Partnership Ltd

11.	RELATED PARTY DISCLOSURES

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

Included in the other debtors is an amount of £199,932 (2024: £54,932) due from the connected companies with common directorship and shareholdings.The loan was interest free and recoverable on demand.

Included in the other creditors is an amount of £20,061 (2024: £20,061) due to a connected company with common directorship and shareholdings.The loan was interest free and repayable on demand.

12.	POST BALANCE SHEET EVENTS

No significant events have occurred between the reporting date, 31 March 2025, and the date the financial statements were authorised for issue that would require adjustment to or disclosure in the financial statements.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Stratis.

Stratis Meats Limited is regarded by the director as being the company's ultimate parent company.

The largest and smallest group in which the results of the company are consolidated is that headed by Stratis Meats Limited, which is incorporated in United Kingdom. The consolidated financial statements of this company are available to the public and may be obtained from the company's registered office at 1 Kings Avenue, London, N21 3NA.

14.	COMPARATIVES DISCLOSURE

The comparative figures are unaudited, as the company did not exceed the statutory audit thresholds in the prior period.