IRIS Accounts Production v25.1.4.42 02285114 director 29.2.24 28.2.25 28.2.25 Medium entities true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 02285114 2024-02-28 02285114 2025-02-28 02285114 2024-02-29 2025-02-28 02285114 2023-02-28 02285114 2023-03-01 2024-02-28 02285114 2024-02-28 02285114 ns15:EnglandWales 2024-02-29 2025-02-28 02285114 ns14:PoundSterling 2024-02-29 2025-02-28 02285114 ns10:Director1 2024-02-29 2025-02-28 02285114 ns10:PrivateLimitedCompanyLtd 2024-02-29 2025-02-28 02285114 ns10:MediumEntities 2024-02-29 2025-02-28 02285114 ns10:Audited 2024-02-29 2025-02-28 02285114 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-02-29 2025-02-28 02285114 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-02-29 2025-02-28 02285114 ns10:FullAccounts 2024-02-29 2025-02-28 02285114 ns10:OrdinaryShareClass1 2024-02-29 2025-02-28 02285114 ns10:RegisteredOffice 2024-02-29 2025-02-28 02285114 ns5:CurrentFinancialInstruments 2025-02-28 02285114 ns5:CurrentFinancialInstruments 2024-02-28 02285114 ns5:ShareCapital 2025-02-28 02285114 ns5:ShareCapital 2024-02-28 02285114 ns5:RevaluationReserve 2025-02-28 02285114 ns5:RevaluationReserve 2024-02-28 02285114 ns5:RetainedEarningsAccumulatedLosses 2025-02-28 02285114 ns5:RetainedEarningsAccumulatedLosses 2024-02-28 02285114 ns5:ShareCapital 2023-02-28 02285114 ns5:RetainedEarningsAccumulatedLosses 2023-02-28 02285114 ns5:RevaluationReserve 2023-02-28 02285114 ns5:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-28 02285114 ns5:RevaluationReserve 2023-03-01 2024-02-28 02285114 ns5:RetainedEarningsAccumulatedLosses 2024-02-29 2025-02-28 02285114 ns5:RevaluationReserve 2024-02-29 2025-02-28 02285114 ns15:UnitedKingdom 2024-02-29 2025-02-28 02285114 ns15:UnitedKingdom 2023-03-01 2024-02-28 02285114 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-02-29 2025-02-28 02285114 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2023-03-01 2024-02-28 02285114 2 2024-02-29 2025-02-28 02285114 2 2023-03-01 2024-02-28 02285114 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-02-29 2025-02-28 02285114 ns5:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-03-01 2024-02-28 02285114 ns5:OwnedAssets 2024-02-29 2025-02-28 02285114 ns5:OwnedAssets 2023-03-01 2024-02-28 02285114 ns5:Exceptional 2024-02-29 2025-02-28 02285114 ns5:Exceptional 2023-03-01 2024-02-28 02285114 ns10:OrdinaryShareClass1 2023-03-01 2024-02-28 02285114 ns5:LandBuildings 2024-02-28 02285114 ns5:PlantMachinery 2024-02-28 02285114 ns5:FurnitureFittings 2024-02-28 02285114 ns5:MotorVehicles 2024-02-28 02285114 ns5:LandBuildings 2024-02-29 2025-02-28 02285114 ns5:PlantMachinery 2024-02-29 2025-02-28 02285114 ns5:FurnitureFittings 2024-02-29 2025-02-28 02285114 ns5:MotorVehicles 2024-02-29 2025-02-28 02285114 ns5:LandBuildings 2025-02-28 02285114 ns5:PlantMachinery 2025-02-28 02285114 ns5:FurnitureFittings 2025-02-28 02285114 ns5:MotorVehicles 2025-02-28 02285114 ns5:LandBuildings 2024-02-28 02285114 ns5:PlantMachinery 2024-02-28 02285114 ns5:FurnitureFittings 2024-02-28 02285114 ns5:MotorVehicles 2024-02-28 02285114 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-02-28 02285114 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-02-28 02285114 ns5:DeferredTaxation 2024-02-28 02285114 ns5:DeferredTaxation 2024-02-29 2025-02-28 02285114 ns5:DeferredTaxation 2025-02-28 02285114 ns10:OrdinaryShareClass1 2025-02-28 02285114 ns5:RetainedEarningsAccumulatedLosses 2024-02-28 02285114 ns5:RevaluationReserve 2024-02-28

REGISTERED NUMBER: 02285114 (England and Wales)

| Strategic Report, |

| Report of the Director and |

| Financial Statements |

| for the Year Ended 28 February 2025 |

| for |

| GEORGE BOLAM (FOODS) LTD |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Contents of the Financial Statements

for the Year Ended 28 February 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 3 |

| Report of the Independent Auditors | 4 |

| Income Statement | 8 |

| Other Comprehensive Income | 9 |

| Balance Sheet | 10 |

| Statement of Changes in Equity | 11 |

| Cash Flow Statement | 12 |

| Notes to the Cash Flow Statement | 13 |

| Notes to the Financial Statements | 14 |

| GEORGE BOLAM (FOODS) LTD |

Company Information

for the Year Ended 28 February 2025

| DIRECTOR: | George Bolam

| REGISTERED OFFICE: | Sedgefield Industrial Estate

| Salters Lane

| Sedgefield Co Durham

| TS21 3EE

| REGISTERED NUMBER: | 02285114 (England and Wales)

| AUDITORS: | Brindleys Limited

| Statutory Auditors

| 2 Wheeleys Road

| Edgbaston

| Birmingham

| West Midlands

| B15 2LD

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Strategic Report

for the Year Ended 28 February 2025

The director presents his strategic report for the year ended 28 February 2025.

REVIEW OF BUSINESS

The company has maintained a similar turnover and gross profit during the past 12 months despite increased competition in the local area, which demonstrates the quality of the products produced by the company.

PRINCIPAL RISKS AND UNCERTAINTIES

The main principal risk to the company is the increase in local competition which is continually reviewed by the management of the company. The result for the year ending February 2025 demonstrate the quality of products being produced by the company and the companies ability to compete in the current market.

The company has no external borrowing so any changes to interest rates are not a critical risk to the company.

The companies equipment base is up to date which allows the business to maintain its competitive edge in the market.

The company is fully compliant with all relevant environmental regulations and employee legislation.

KEY PERFORMANCE INDICATORS

Sales = £12,017,472 (£12,161,300 in 2024)

Gross Profit = 17.45% (17.57% in 2024)

Profit pre-tax and prior to contributions to the trust = £594,151 (£820,469 in 2024)

POLICIES AND PROCEDURES

The company ensures full compliance with all governing legislation through fully documented policies and procedures in all relevant areas.

ON BEHALF OF THE BOARD:

George Bolam - Director

25 February 2026

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Report of the Director

for the Year Ended 28 February 2025

The director presents his report with the financial statements of the company for the year ended 28 February 2025.

PRINCIPAL ACTIVITY

The principal activity of the company is the wholesale and retail butcher's outlet and bakery.

DIVIDENDS

No interim dividend was paid during the year. The director recommends a final dividend of 0.23 per share.

The total distribution of dividends for the year ended 28 February 2025 will be £ 30,000 .

DIRECTOR

George Bolam held office during the whole of the period from 29 February 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the 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 (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 accounting estimates that are reasonable and prudent;

- | 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are 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 auditors are aware of that information.

AUDITORS

The auditors, Brindleys Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

George Bolam - Director

25 February 2026

Report of the Independent Auditors to the Members of

George Bolam (Foods) Ltd

Opinion

We have audited the financial statements of George Bolam (Foods) Ltd (the 'company') for the year ended 28 February 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 28 February 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for 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 Auditors' 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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.

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 Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

George Bolam (Foods) Ltd

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 Report of the Director.

We have nothing to report in respect of the following matters where 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 director's remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

George Bolam (Foods) Ltd

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

We have considered the nature of the Company's industry and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities.

We obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that:

(1) Had a direct effect on the determination of material amounts and disclosures in the financial statements. These included UK Companies Act, tax legislation etc; and

(2) Do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty

We discussed among the audit engagement team regarding the opportunities and incentives that may exist within organisation for fraud and how and where fraud might occur in the financial statements.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making the accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

In addition to the above, our procedures to respond to the risks identified included the following:

(1) Reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

(2) Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

(3) Enquiring of management and in-house legal counsel concerning actual and potential litigation and claims, and instances of non-compliance with laws and regulations; and

(4) Reading minutes of meetings of those charged with governance.

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 Report of the Auditors.

Report of the Independent Auditors to the Members of

George Bolam (Foods) Ltd

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 a Report of the Auditors 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.

Kulwinder Singh Chawla F.C.C.A. (Senior Statutory Auditor)

for and on behalf of Brindleys Limited

Statutory Auditors

2 Wheeleys Road

Edgbaston

Birmingham

West Midlands

B15 2LD

25 February 2026

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Income Statement

for the Year Ended 28 February 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 12,017,472 |  | 12,161,300 |  |

Cost of sales | 9,919,970 |  | 10,023,998 |  |

GROSS PROFIT | 2,097,502 |  | 2,137,302 |  |

Administrative expenses | 1,844,110 |  | 1,777,097 |  |

253,392 |  | 360,205 |  |

Other operating income | 4 | 30,566 |  | 59,712 |  |

OPERATING PROFIT | 6 | 283,958 |  | 419,917 |  |

Interest receivable and similar income | 193 |  | 2,852 |  |

PROFIT BEFORE TAXATION | 284,151 |  | 422,769 |  |

Tax on profit | 9 | 162,604 |  | 171,587 |  |

PROFIT FOR THE FINANCIAL YEAR | 121,547 |  | 251,182 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Other Comprehensive Income

for the Year Ended 28 February 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 121,547 |  | 251,182 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 121,547 |  | 251,182 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Balance Sheet

28 February 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 11 | 3,754,096 |  | 3,576,816 |  |

CURRENT ASSETS

Stocks | 12 | 188,215 |  | 188,663 |  |

Debtors | 13 | 918,994 |  | 951,972 |  |

Cash at bank and in hand | 24,486 |  | 238,976 |  |

1,131,695 |  | 1,379,611 |  |

CREDITORS

Amounts falling due within one year | 14 | 828,711 |  | 1,006,726 |  |

NET CURRENT ASSETS | 302,984 |  | 372,885 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,057,080 |  | 3,949,701 |  |

PROVISIONS FOR LIABILITIES | 15 | 208,104 |  | 192,272 |  |

NET ASSETS | 3,848,976 |  | 3,757,429 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 130,000 |  | 130,000 |  |

Revaluation reserve | 17 | 1,183,792 |  | 1,171,366 |  |

Retained earnings | 17 | 2,535,184 |  | 2,456,063 |  |

SHAREHOLDERS' FUNDS | 3,848,976 |  | 3,757,429 |  |

The financial statements were approved by the director and authorised for issue on 25 February 2026 and were signed by:

George Bolam - Director

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Statement of Changes in Equity

for the Year Ended 28 February 2025

| Called up |

| share |  | Retained |  | Revaluation |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 March 2023 | 130,000 |  | 2,221,855 |  | 1,183,792 |  | 3,535,647 |  |

Changes in equity

Dividends | - |  | (29,400 | ) | - |  | (29,400 | ) |

Total comprehensive income | - |  | 263,608 |  | (12,426 | ) | 251,182 |  |

Balance at 28 February 2024 | 130,000 |  | 2,456,063 |  | 1,171,366 |  | 3,757,429 |  |

Changes in equity

Dividends | - |  | (30,000 | ) | - |  | (30,000 | ) |

Total comprehensive income | - |  | 109,121 |  | 12,426 |  | 121,547 |  |

Balance at 28 February 2025 | 130,000 |  | 2,535,184 |  | 1,183,792 |  | 3,848,976 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Cash Flow Statement

for the Year Ended 28 February 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 350,955 |  | 245,251 |  |

Interest paid | - |  | (21 | ) |

Tax paid | (151,399 | ) | (95 | ) |

Net cash from operating activities | 199,556 |  | 245,135 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (342,220 | ) | (435,365 | ) |

Interest received | 193 |  | 2,852 |  |

Net cash from investing activities | (342,027 | ) | (432,513 | ) |

Cash flows from financing activities

Amount introduced by directors | - |  | 25,959 |  |

Amount withdrawn by directors | (42,019 | ) | - |  |

Equity dividends paid | (30,000 | ) | (29,400 | ) |

Net cash from financing activities | (72,019 | ) | (3,441 | ) |

Decrease in cash and cash equivalents | (214,490 | ) | (190,819 | ) |

Cash and cash equivalents at beginning of year | 2 | 238,976 |  | 429,795 |  |

Cash and cash equivalents at end of year | 2 | 24,486 |  | 238,976 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Notes to the Cash Flow Statement

for the Year Ended 28 February 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 284,151 |  | 422,769 |  |

| Depreciation charges | 164,941 |  | 156,134 |  |

| Finance income | (193 | ) | (2,852 | ) |

448,899 |  | 576,051 |  |

| Decrease/(increase) in stocks | 448 |  | (24,228 | ) |

| Decrease/(increase) in trade and other debtors | 32,978 |  | (263,344 | ) |

| Decrease in trade and other creditors | (131,370 | ) | (43,228 | ) |

| Cash generated from operations | 350,955 |  | 245,251 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 28 February 2025

| 28.2.25 |  | 29.2.24

£ | £ |

| Cash and cash equivalents | 24,486 |  | 238,976 |  |

| Year ended 28 February 2024

| 28.2.24 |  | 1.3.23

£ | £ |

| Cash and cash equivalents | 238,976 |  | 429,795 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 29.2.24 | Cash flow | At 28.2.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 238,976 |  | (214,490 | ) | 24,486 |  |

238,976 |  | (214,490 | ) | 24,486 |  |

| Total | 238,976 |  | (214,490 | ) | 24,486 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Notes to the Financial Statements

for the Year Ended 28 February 2025

1. | STATUTORY INFORMATION

| George Bolam (Foods) Ltd 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.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Turnover

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

| Tangible fixed assets

| Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

| Freehold = 2% Straight line

| Plant & Machinery = 10% Reducing balance

| Motor Vehicles = 25 Reducing balance

| Fixtures & Fittings = 20% Reducing balance

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stock.

| Cost is determined using first in , first out method. Cost includes all direct costs and an appropriate proportion of fixed variable overheads.

| Work in progress is reflected in the accounts on a contract by contract basis by recording the turnover and related costs as contract activity progresses.

| At the end od each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less cost to complete and sell an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and recognised as a credit in the profit and loss account.

| 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 balance sheet date.

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Hire purchase and leasing commitments

| 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

| Financial instruments

| The company has elected to apply the provision of section 11 "Basic Financial Instruments" and section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 12,017,472 |  | 12,161,300 |  |

12,017,472 |  | 12,161,300 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

4. | OTHER OPERATING INCOME

| 2025 |  | 2024

£ | £ |

| Rent receivable-Lease | 16,270 |  | 9,876 |  |

| Sundry income | 9,970 |  | 49,836 |  |

| Other interest | 4,326 |  | - |  |

30,566 |  | 59,712 |  |

5. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 272,437 |  | 256,499 |  |

| Social security costs | 44,563 |  | 24,909 |  |

| Other pension costs | 22,263 |  | 77,491 |  |

339,263 |  | 358,899 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Directors | 1 |  | 1 |  |

| Staff | 54 |  | 88 |  |

55 |  | 89 |  |

| 2025 |  | 2024

£ | £ |

| Director's remuneration | 12,350 |  | 10,000 |  |

6. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 2,823 |  | 2,097 |  |

| Other operating leases | 3,912 |  | - |  |

| Depreciation - owned assets | 164,941 |  | 156,135 |  |

| During the year the company made contributions totalling £310,000 (2023 = £397,700) to a Remuneration Trust. Remuneration trust payments are made by the company after corporation tax deductions.

7. | AUDITORS' REMUNERATION

| 2025 |  | 2024

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 10,000 |  | 5,700 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

8. | EXCEPTIONAL ITEMS

| 2025 |  | 2024

£ | £ |

| Transfers from reval. reserve | - |  | 12,426 |  |

9. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 146,772 |  | 151,824 |  |

| Deferred tax-Timing difference | 15,832 |  | 32,189 |  |

| Exceptional tax:

| Transfers from reval. reserve | - |  | (12,426 | ) |

| Tax on profit | 162,604 |  | 171,587 |  |

10. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of 1 each

| Final | 30,000 |  | 29,400 |  |

11. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 29 February 2024 | 2,858,877 |  | 1,631,972 |  | 248,394 |  | 100,685 |  | 4,839,928 |  |

| Additions | 193,385 |  | 136,724 |  | 4,111 |  | 8,000 |  | 342,220 |  |

| At 28 February 2025 | 3,052,262 |  | 1,768,696 |  | 252,505 |  | 108,685 |  | 5,182,148 |  |

| DEPRECIATION

| At 29 February 2024 | 181,678 |  | 766,944 |  | 225,422 |  | 89,067 |  | 1,263,111 |  |

| Charge for year | 54,445 |  | 100,175 |  | 5,417 |  | 4,904 |  | 164,941 |  |

| At 28 February 2025 | 236,123 |  | 867,119 |  | 230,839 |  | 93,971 |  | 1,428,052 |  |

| NET BOOK VALUE

| At 28 February 2025 | 2,816,139 |  | 901,577 |  | 21,666 |  | 14,714 |  | 3,754,096 |  |

| At 28 February 2024 | 2,677,199 |  | 865,028 |  | 22,972 |  | 11,618 |  | 3,576,817 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

11. | TANGIBLE FIXED ASSETS - continued

| The property was valued by Sanderson Wetherall LLP and as at 29th February 2024 the property was valued at £2,755,000 on a historical cost basis. In the directors opinion there was no material movement in the property valuation based on similar business operating within a close region.

12. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 188,215 |  | 188,663 |  |

13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 46,608 |  | 91,760 |  |

| Other debtors | 445,033 |  | 435,318 |  |

| Amounts owed by Intercompany | 347,313 |  | 269,586 |  |

| VAT | 78,441 |  | 121,131 |  |

| Prepayments | 1,599 |  | 34,177 |  |

918,994 |  | 951,972 |  |

14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 642,789 |  | 720,348 |  |

| Tax | 134,654 |  | 139,280 |  |

| Social security and other taxes | 29,676 |  | 27,462 |  |

| Other creditors | - |  | 27,611 |  |

| Directors' current accounts | - |  | 42,019 |  |

| Accrued expenses | 21,592 |  | 50,006 |  |

828,711 |  | 1,006,726 |  |

15. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 208,104 |  | 192,272 |  |

| Deferred |

| tax |

£ |

| Balance at 29 February 2024 | 192,272 |  |

| Provided during year | 15,832 |  |

| Balance at 28 February 2025 | 208,104 |  |

| GEORGE BOLAM (FOODS) LTD (REGISTERED NUMBER: 02285114) |

Notes to the Financial Statements - continued

for the Year Ended 28 February 2025

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 130,000 | Ordinary | 1 | 130,000 |  | 130,000 |  |

17. | RESERVES

| Retained |  | Revaluation |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 29 February 2024 | 2,456,063 |  | 1,171,366 |  | 3,627,429 |  |

| Profit for the year | 121,547 |  | 121,547 |  |

| Dividends | (30,000 | ) | (30,000 | ) |

| Profit & Loss Transfer | (12,426 | ) | 12,426 |  | - |  |

| At 28 February 2025 | 2,535,184 |  | 1,183,792 |  | 3,718,976 |  |

18. | PENSION COMMITMENTS

| The company operates a defined pension contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

| During the year the charge to profit or loss in respect of the defined contribution scheme was £31,804 (£114,421 in 2024).

| At the balance sheet date contributions of £Nil were due to the fund.

19. | FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

| The company is subject to a long ongoing enquiry by HM Revenue & Customs regarding the tax position of the contributions into a Remuneration Trust and payments made out of the trust. Many other businesses in the UK are subject to similar enquiries for which there is no definitive case law as the outcome of he Upper Tribunal appeals is awaited. The company with its legal advisors has strongly defended its position and will continue to do so. As yet there is no firm indication of which direction HMRC's enquiry will take or which form of tax could be relevant and therefore it is not possible at this stage to quantify the potential liability.

20. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| Dividends issued during the year = £30,000 (£29,400 in 2024)

| The director loan account was £200,317 debtor (£42,019 Creditor in 2024)

| Interest is charged on the overdrawn directors loan account in accordance with HMRC interest on beneficial loans