REGISTERED NUMBER: 11864029 (England and Wales)

LAPWING FINE FOODS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

J F S Brown

Mrs K V Brown

REGISTERED OFFICE:

Everton Carr Farm

Claybank Lane

Everton

Doncaster

South Yorkshire

DN10 5BZ

REGISTERED NUMBER:

11864029 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mike Argyle BSc ACA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

HSBC Bank Plc

26 Market Place

Sleaford

Lincolnshire

NG34 7SB

SOLICITORS:

Mossop & Bowser

10 Spalding Road

Holbeach

Lincolnshire

PE12 7LP

FIXED ASSETS

Property, plant and equipment

4

72,026

148,373

CURRENT ASSETS

Inventories

7,325

5,248

Debtors

5

170,636

87,329

Cash at bank

18,534

12,761

196,495

105,338

CREDITORS

Amounts falling due within one year

6

1,434,881

1,255,878

NET CURRENT LIABILITIES

(1,238,386

)

(1,150,540

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,166,360

)

(1,002,167

)

PROVISIONS FOR LIABILITIES

10,417

-

NET LIABILITIES

(1,176,777

)

(1,002,167

)

CAPITAL AND RESERVES

Called up share capital

7

1

1

Retained earnings

(1,176,778

)

(1,002,168

)

SHAREHOLDERS' FUNDS

(1,176,777

)

(1,002,167

)

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 22 December 2025 and were signed on its behalf by:

J F S Brown - Director

1.	STATUTORY INFORMATION

Lapwing Fine 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Companies Act 2006. The financial statements have been prepared under the historical cost convention and on the assumption that the company is a going concern.

Related party exemption

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.

Revenue

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

Property, plant and equipment

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

Plant and machinery etc

-

33% on cost and 20% on cost

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

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Inventories

Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments

The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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. Accounts 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all 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.

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The directors believe that this basis is appropriate because the company's parent company, The Lapwing Estate Limited, has stated that it will provide financial support for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 June 2024

188,365

18,924

242,575

Additions

8,950

-

-

Disposals

-

-

-

At 31 May 2025

197,315

18,924

242,575

DEPRECIATION

At 1 June 2024

130,260

14,425

166,173

Charge for year

39,163

3,783

48,080

Eliminated on disposal

-

-

-

At 31 May 2025

169,423

18,208

214,253

NET BOOK VALUE

At 31 May 2025

27,892

716

28,322

At 31 May 2024

58,105

4,499

76,402

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2024

19,200

1,687

470,751

Additions

15,441

1,585

25,976

Disposals

(12,500

)

-

(12,500

)

At 31 May 2025

22,141

3,272

484,227

DEPRECIATION

At 1 June 2024

10,171

1,349

322,378

Charge for year

3,190

468

94,684

Eliminated on disposal

(4,861

)

-

(4,861

)

At 31 May 2025

8,500

1,817

412,201

NET BOOK VALUE

At 31 May 2025

13,641

1,455

72,026

At 31 May 2024

9,029

338

148,373

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

-

1,120

Amounts owed by group undertakings

166,212

82,304

Other debtors

4,424

3,905

170,636

87,329

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,987

6,927

Amounts owed to group undertakings

1,414,685

1,246,668

VAT

5,709

283

Accruals and deferred income

9,500

2,000

1,434,881

1,255,878

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

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

The Report of the Auditors was unqualified.

Mike Argyle BSc ACA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

9.	OTHER FINANCIAL COMMITMENTS

The company had total guarantees and commitments at the financial reporting date of £11,505 (2024 - £9,998).

10.	ULTIMATE CONTROLLING PARTY

The company's immediate parent company is The Lapwing Estate Limited.

Until 11 June 2024, the ultimate parent company was The Lapwing Estate Limited, incorporated in England and Wales.

From 11 June 2024, the ultimate parent company was Vanellus Limited, incorporated in England and Wales.

Vanellus Limited is the smallest group in which the results of the company are consolidated.

The consolidated financial statements of Vanellus Limited are available from the registered office.

The registered office is located at:

Everton Carr Farm

Claybank Lane

Everton

Doncaster

South Yorkshire

DN10 5BZ