REGISTERED NUMBER: 07490247 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

COREN FOODS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A R Vidal

M T Gomez-Franqueira

A M Lafuente Lechuga

REGISTERED OFFICE:

Rae House

Dane Street

Bishops Stortford

Hertfordshire

CM23 3BT

REGISTERED NUMBER:

07490247 (England and Wales)

SENIOR STATUTORY AUDITOR:

Glenn Armon-Jones ACA FCCA

AUDITORS:

Barrow LLP

Statutory Auditor

Rae House

Dane Street

Bishops Stortford

Herts

CM23 3BT

FIXED ASSETS

Tangible assets

5

226

709

CURRENT ASSETS

Debtors

6

1,143,641

704,943

Cash at bank

91,434

207,953

1,235,075

912,896

CREDITORS

Amounts falling due within one year

7

(1,085,737

)

(758,580

)

NET CURRENT ASSETS

149,338

154,316

TOTAL ASSETS LESS CURRENT LIABILITIES

149,564

155,025

PROVISIONS FOR LIABILITIES

(57

)

(135

)

NET ASSETS

149,507

154,890

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

149,407

154,790

SHAREHOLDERS' FUNDS

149,507

154,890

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 Profit and Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

A R Vidal - Director

1.	STATUTORY INFORMATION

Coren 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

In considering the appropriateness of the going concern basis for the preparation of these financial statements, the directors have considered the working capital requirements of the company for the short, medium and longer term. They have reviewed the cash flow forecasts and considered the future funding requirements which show that the company is reliant on continued support from Industrias Frigorificas Sel Louro S.A.

In considering the position of the company, the directors have taken account of Industrias Frigorificas Sel Louro S.A 's written confirmation of its present intention to continue to provide the required financial support to the business. However given the non-binding nature of the commitment they have concluded there remains a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern.

Notwithstanding the uncertainty and taking into account the indication of future support, the directors have a reasonable expectation that the company will be able to continue as a going concern for the foreseeable future, being a period of not less than twelve months from the date of approval of these financial statements. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. The financial statements, therefore, do not include any adjustments that would arise if the going concern basis of preparation were inappropriate.

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax and other sales taxes. The following criteria must also be met before revenue is recognised.

Sale of goods:

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of the ownership to the buyer;

- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

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

Computer equipment

-

33% on cost

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Judgement in accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgement in applying accounting policies

The company does not consider there to be any critical judgement in applying accounting policies.

Accounting judgement and estimation

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Allowance for doubtful debts

Management undertakes a review of all new customers and a periodic review of existing customers to determine whether specific risks of default exist. Beyond identification of specific risks, management undertakes periodic reviews into the calculation of allowances for doubtful debts to ensure historic trends continue to provide a basis for determining a reliable estimate for doubtful debts.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

2,138

DEPRECIATION

At 1 January 2024

1,429

Charge for year

483

At 31 December 2024

1,912

NET BOOK VALUE

At 31 December 2024

226

At 31 December 2023

709

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

970,565

345,701

Amounts owed by group undertakings

33,451

209,468

Other debtors

139,625

149,774

1,143,641

704,943

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

50,886

11,078

Amounts owed to group undertakings

1,016,537

730,205

Taxation and social security

8,799

9,300

Other creditors

9,515

7,997

1,085,737

758,580

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

102

Ordinary A

£0.50

51

51

98

Ordinary B

£0.50

49

49

100

100

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

The Report of the Auditors was unqualified.

Glenn Armon-Jones ACA FCCA (Senior Statutory Auditor)

for and on behalf of Barrow LLP

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Coren Agroindustrial, SA.

The ultimate controlling party is Cooperativas Ourensanas, S. Coop. Galega (Coren).

The immediate parent undertaking is Coren Agroindustrial, S.A..

Cooperativas Ourensanas, S. Coop. Galega (Coren) is the parent undertaking of the largest and smallest group of undertakings to consolidate these financial statement at 31 December 2024. The consolidated financial statements of Cooperativas Ourensanas, S. Coop. Galega (Coren) are available from:

Cooperativas Ourensanas, S. Coop. Galega (Coren)

Centro de Procesado Avicola

Santa Cruz de Arrabaldo, s/n

32990 Ourense