Company No: 04142491 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	690,511		711,280
		690,511		711,280
Current assets
Stocks		98,653		58,000
Debtors	4	1,284,506		1,218,770
Cash at bank and in hand		15,025		4,422
		1,398,184		1,281,192
Creditors: amounts falling due within one year	5	( 1,522,001)		( 1,247,886)
Net current (liabilities)/assets		(123,817)		33,306
Total assets less current liabilities		566,694		744,586
Creditors: amounts falling due after more than one year	6	( 403,232)		( 418,616)
Provision for liabilities	7	( 13,178)		( 17,544)
Net assets		150,284		308,426
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		150,184		308,326
Total shareholders' funds		150,284		308,426

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of T & G Wholesale Meats Limited (registered number: 04142491) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

M S Greaves Director

30 December 2025

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

T & G Wholesale Meats Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit H3 Ascot Business Park, Lyndhurst Road, Ascot, SL5 9FE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements	200 years straight line
Plant and machinery	25 % reducing balance
Office equipment	25 % reducing balance
Computer equipment	33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the weighted average method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	14		16

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Office equipment		Computer equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	660,920		62,940		118,298		3,147		845,305
Additions	0		0		96		0		96
At 31 March 2025	660,920		62,940		118,394		3,147		845,401
Accumulated depreciation
At 01 April 2024	19,814		28,622		82,442		3,147		134,025
Charge for the financial year	3,305		8,580		8,980		0		20,865
At 31 March 2025	23,119		37,202		91,422		3,147		154,890
Net book value
At 31 March 2025	637,801		25,738		26,972		0		690,511
At 31 March 2024	641,106		34,318		35,856		0		711,280
Leased assets included above:
Net book value
At 31 March 2025	0		13,517		0		0		13,517
At 31 March 2024	0		18,023		0		0		18,023

4. Debtors

	2025		2024
	£		£
Trade debtors	956,838		867,600
Amounts owed by directors	21,241		34,104
Prepayments	15,958		24,318
VAT recoverable	19,454		17,660
Other debtors	271,015		275,088
	1,284,506		1,218,770

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans and overdrafts (secured)	56,752		56,074
Trade creditors	829,249		854,941
Accruals	13,140		7,996
Taxation and social security	48,916		81,790
Obligations under finance leases and hire purchase contracts (secured)	12,230		10,151
Other creditors	561,714		236,934
	1,522,001		1,247,886

The bank loans and hire purchase contracts are secured against the specific assets they relate to.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	403,232		416,857
Obligations under finance leases and hire purchase contracts (secured)	0		1,759
	403,232		418,616

The bank loans and hire purchase contracts are secured against the specific assets they relate to.

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	13,178		17,544

	Deferred taxation		Total
	£		£
At 01 April 2024	17,544		17,544
Credited to the Profit and Loss Account	( 4,366)		( 4,366)
At 31 March 2025	13,178		13,178

Deferred tax

	2025		2024
	£		£
Accelerated capital allowances	13,178		17,544
Provision for deferred tax	13,178		17,544

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 Ordinary A shares of £ 1.00 each	50		50
50 Ordinary B shares of £ 1.00 each	50		50
	100		100

9. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

	2025		2024
	£		£
Unpaid contributions due to the fund (inc. in other creditors)	2,131		2,084

The pension cost charge represents total contributions payable by the company to the fund amounted to £10,147 (2024 - £10,065).

10. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Amount owed by the directors	21,258		34,104

The loan is interest free and repayable on demand.

Other related party transactions

	2025		2024
	£		£
Black bear Ltd	271,015		275,088

Black Bear Ltd is a company under common control. The loan is interest free and repayable on demand.