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Company Registration Number: 03639100 CATERITE FOOD AND WINESERVICE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
CATERITE FOOD AND WINESERVICE LIMITED COMPANY INFORMATION
Directors | Mr LJ Byrne
| Mrs A Marshalsea
Registered number | 03639100
Registered office | Embleton
| Cockermouth
| Cumbria
| CA13 9YA
Independent auditors | Armstrong Watson Audit Limited
| Chartered Accountants and Statutory Auditors
| Montgomery Way
| Rosehill
| Carlisle
| Cumbria
| CA1 2UU
Bankers | Barclays Bank Plc
| Market Square
| Town Centre
| Penrith
| Cumbria
| CA11 7YB
CATERITE FOOD AND WINESERVICE LIMITED CONTENTS
| Page
Strategic report | 1 - 3
Directors' report | 4 - 6
Directors' responsibilities statement | 7
Independent auditors' report | 8 - 11
Statement of comprehensive income | 12
Statement of financial position | 13 - 14
Statement of changes in equity | 15
Statement of cash flows | 16 - 17
Notes to the financial statements | 18 - 37
CATERITE FOOD AND WINESERVICE LIMITED STRATEGIC REPORT FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
Introduction
The directors present the strategic report for the 9 months ended 30 September 2025.
Review of the business
The directors are satisfied with the performance of the business. However, high inflation, increased utility costs and other global factors have made for a difficult trading environment with large increase in cost of products, services and overheads. To mitigate the cost to customers the company's buyers have strived to negotiate purchase prices as low as possible, whilst maintaining product quality. Turnover for the year has increased compared to the prior period as a result of increase in unit costs as described above, and increased customer numbers due to a widening of the geographical area served. The company is in a sound financial position with net assets of £13.8M which is an increase of 8% from 2024.
Principal risks and uncertainties
The company is not immune to risks and the company takes a responsible and balance approach towards risk management. The directors have put procedures in place aimed to minimise the possibility and scale of specific risks that may impact the company. The company benefits from a strong market presence, reputation and goodwill.
Development and performance
During 2025 the company opened new hubs in Glasgow and Warrington as part of their development plan to provide a national delivery solution. The directors are continually assessing their market positions and adjusting their operations to take advantage of business opportunities. The directors are confident that the company has sufficient resources to take advantage of opportunities as they arise and the company can adapt to change. The company has continued to reinvest significant proportions of its profits back into the business to maintain and improve the quality of its service offering.
Key performance indicators
Particulars 2025 2024 £000's £000's Turnover £39,091,307 £47,710,116 Gross profit £11,604,618 £14,488,802 GP margin 29.69% 30.37% Profit before tax £1,135,104 £576,011 EBITDA £1,319,680 £1,417,284 Net assets £13,803,975 £12,780,280 Page 1
CATERITE FOOD AND WINESERVICE LIMITED STRATEGIC REPORT (CONTINUED) FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
Directors' statement of compliance with duty to promote the success of the Company
Section 172(1) Statement This statement is made in accordance with Section 172(1) of the Companies Act 2006 and describes how the Directors of the Company have had regard to the matters set out in that section when performing their duty to promote the success of the Company for the benefit of its members as a whole during the financial period ended 30 September 2025. Our Duty and Approach The Board recognises its duty to act in good faith to promote the long-term success of the Company, taking into account: • The likely consequences of decisions in the long term; • The interests of the Company’s employees; • The need to foster business relationships with suppliers, customers and others; • The impact of the Company’s operations on the community and the environment; • The desirability of maintaining a reputation for high standards of business conduct; and • The need to act fairly as between members of the Company. As a business operating in the wholesale industry, the Company plays a key role in supply chains, connecting manufacturers and producers with retail, trade and commercial customers. The Board therefore places significant emphasis on resilience, responsible sourcing, operational efficiency and strong stakeholder relationships. Stakeholder Engagement The Board identifies its principal stakeholders as employees, customers, suppliers, finance providers, shareholders and the communities in which it operates. Employees The Company’s success depends on the skills, experience and commitment of its employees. The Board receives regular updates on workforce matters including health and safety, staff turnover, training and development, and employee engagement. During the period, the Company invested in training programmes, strengthened health and safety procedures within warehouse and distribution operations, and maintained open channels of communication through company townhall meetings, team briefings and employee surveys. Customers As a wholesale business, maintaining reliable product availability, competitive pricing and high service levels is central to long-term success. The Board monitors customer satisfaction, service performance metrics, and key account relationships. Strategic decisions regarding stock management, logistics investment and digital ordering platforms were made with a view to improving customer experience and strengthening long-term partnerships. Suppliers The Company maintains long-standing relationships with a diverse supplier base. The Board recognises the importance of fair payment practices, transparent communication and collaborative planning. During the period, the Company reviewed supplier performance, assessed supply chain risks, and worked with key suppliers to manage cost pressures and ensure continuity of supply. Communities and the Environment The Company seeks to minimise the environmental impact of its warehousing and distribution activities. The Board considered energy usage, packaging reduction initiatives and transport efficiency as part of its operational strategy. The Company continues to comply with applicable environmental legislation and aims to operate as a responsible member of the communities in which it operates. Shareholders and Finance Providers The Board maintains regular dialogue with shareholders and finance providers, providing updates on financial performance, strategy and principal risks. Major investment decisions, including capital expenditure in warehousing infrastructure and IT systems, were evaluated with careful consideration of long-term returns and financial resilience. Principal Decisions During the Period In making significant decisions during the period, the Board considered both short-term performance and long- Page 2
CATERITE FOOD AND WINESERVICE LIMITED STRATEGIC REPORT (CONTINUED) FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 term sustainability. Examples include: • Investment in warehouse automation and inventory management systems to improve operational efficiency and reduce error rates. • Review and optimisation of the product portfolio to enhance margins while maintaining customer value. • Strengthening risk management processes to address supply chain disruption and cost volatility. In each case, the Board assessed the potential impact on employees, customers, suppliers, financial stability, and the Company’s reputation before reaching its decisions. Long-Term Success The Board believes that fostering strong stakeholder relationships, maintaining high standards of governance, and embedding responsible business practices are essential to delivering sustainable long-term growth in the wholesale sector. By having regard to the matters set out in Section 172(1), the Directors are confident that they have acted in a way most likely to promote the success of the Company for the benefit of its members as a whole. This report was approved by the board and signed on its behalf.
Mr LJ Byrne Director
Date: 1 April 2026
Page 3
CATERITE FOOD AND WINESERVICE LIMITED DIRECTORS' REPORT FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 The directors present their report and the financial statements for the 9 months ended 30 September 2025.
Principal activity
The principal activities of the company continued to be that of the wholesale of food, wine and other catering products to the catering industry; and the provision of storage and warehousing.
Results and dividends
The profit for the nine months, after taxation, amounted to £1,023,695 (2024 - £670,322). Ordinary dividends were paid amounting to £NIL. The directors do not recommend payment of a further dividend.
Directors
The directors who served during the 9 months were:
Mr LJ Byrne
Mrs A Marshalsea
Financial instruments
Objectives and policies Adequate finance has been made available to take advantage of all business opportunities arising during the year and the directors consider the state of affairs to be satisfactory. The company seek to operate within the agreed overdraft facility with the bank. All sales are to UK based customers and therefore they have not entered into any hedging arrangements in respect of risks relating to trade debtors. Price risk, credit risk, liquidity risk and cash flow risk The businesses' principal financial instruments comprise bank balances, bank overdrafts, trade debtors, trade creditors, loans to the businesses and finance lease agreements. The main purpose of these instruments is to finance the business operations. In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the businesses' cash balances are held in such a way that achieves a competitive rate of interest. The businesses makes use of money market facilities where funds are available. Trade debtors are supported by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the balance sheet are net of allowances for doubtful debtors. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. The businesses are lessees in respect of finance leased assets. The liquidity risk in respect of these is managed by ensuring that there are sufficient funds to meet the payments. Page 4
CATERITE FOOD AND WINESERVICE LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
Greenhouse gas emissions, energy consumption and energy efficiency action
Streamlined Energy and Carbon Report ("SECR") SECR reporting aims to encourage the implementation of eergy efficiency measures to reduce emissions. Often these energy efficiency measures also have economic benefits for the business. Materiality Caterite Food and Wineservice Limited is reporting upon all the required fuel sources as per MGHG reporting requirements. Page 5
CATERITE FOOD AND WINESERVICE LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 Methodology This report has been produced in line with the GHG Reporting Protocol – Corporate Standard and DEFRA Environmental Reporting Guidelines: Including streamlined energy and carbon reporting guidance (March 2019), using the following emissions factor sources: ∙UK.gov GHG Reporting Factors v2024 1.1 ∙Exiobase 3.8.2 ∙UK.gov GHG Reporting Factors v2023 1.0 Emissions and energy data have been sourced from utility invoices, internal company records and supplier reports. Energy Efficiency and Carbon Mitigation Actions Caterite Food and Wineservice Limited has undertaken the following energy efficiency/carbon mitigation actions during this reporting period. ∙Purchasing of new routing software to allow routes to be more efficient and increase the ease of reviewing each route. ∙LED lighting introduced to many areas of the business with sensors used for automatic activation. ∙Began implementing driver training to encourage more efficient driving behaviours. ∙Improving the utilisation of telematics software to optimise routing and fuel efficiency. ∙Introduction of Hubs in areas that are a long distance from the head office to reduce the number of vehicles travelling long distance. In addition, Caterite Food and Wineservice has continued to progress ongoing efforts to invest in new company vehicles to keep the fleet updated with senior company cars being moved to electric vehicles.
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Auditors
Under section 487(2) of the Companies Act 2006, Armstrong Watson Audit Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier. This report was approved by the board and signed on its behalf.
Mr LJ Byrne Director
Date: 1 April 2026
Page 6
CATERITE FOOD AND WINESERVICE LIMITED DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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. Page 7
CATERITE FOOD AND WINESERVICE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CATERITE FOOD AND WINESERVICE LIMITED
Opinion
We have audited the financial statements of Caterite Food and Wineservice Limited (the 'Company') for the nine months ended 30 September 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of cash flows, the Statement of changes in equity and the related notes, 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 30 September 2025 and of its profit for the nine months 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 United Kingdom, including the Financial Reporting Council'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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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. Page 8
CATERITE FOOD AND WINESERVICE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CATERITE FOOD AND WINESERVICE LIMITED (CONTINUED)
Opinion 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 Directors' report for the financial nine months for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report. We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 7, the directors are 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 directors determine is 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 directors are 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 directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 9
CATERITE FOOD AND WINESERVICE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CATERITE FOOD AND WINESERVICE LIMITED (CONTINUED)
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 an Auditors' report 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. 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 obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation and occupational health and employment legislation. ∙We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance. ∙We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period. ∙The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition and management override of controls. ∙We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above. ∙We enquired of the directors and third-party advisors about actual and potential litigation and claims. ∙We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud. ∙In addressing the risk of fraud due to management override of internal controls we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 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 Auditors' report. Page 10
CATERITE FOOD AND WINESERVICE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CATERITE FOOD AND WINESERVICE LIMITED (CONTINUED)
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 an Auditors' report 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. David Harper (Senior statutory auditor) for and on behalf of Armstrong Watson Audit Limited Chartered Accountants and Statutory Auditors Carlisle 1 April 2026 Page 11
CATERITE FOOD AND WINESERVICE LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
| 9 months ended 30 September | Year ended 31 December
| 2025 | 2024
Note | £ | £
Turnover |  | 39,091,307 | 47,710,116
Cost of sales |  | (27,486,689) | (33,221,314)
Gross profit |  | 11,604,618 | 14,488,802
Distribution costs |  | (6,780,030) | (8,266,874)
Administrative expenses |  | (4,779,684) | (5,970,658)
Exceptional administrative expenses | 12 | - | (133,738)
Other operating income |  | 579,412 | 479,155
Operating profit | 4 | 624,316 | 596,687
Income from fixed assets investments |  | 495,964 | 7,220
Interest receivable and similar income | 8 | 58,110 | 26,075
Interest payable and similar expenses | 9 | (43,286) | (53,971)
Profit before tax |  | 1,135,104 | 576,011
Tax on profit | 10 | (111,409) | 94,311
Profit for the financial 9 months |  | 1,023,695 | 670,322
There was no other comprehensive income for 2025 (2024:£NIL).
The notes on pages 18 to 37 form part of these financial statements.
Page 12
CATERITE FOOD AND WINESERVICE LIMITED REGISTERED NUMBER: 03639100 STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2025
|  | 30 September |  | 31 December
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 13 |  | 211,650 |  | 274,950
Tangible assets | 14 |  | 7,323,147 |  | 6,977,847
Investments | 15 |  | - |  | 2,100
|  |  | 7,534,797 |  | 7,254,897
Current assets |  |  |  |  |
Stocks | 16 | 3,286,690 |  | 2,876,595 |
Debtors | 17 | 5,920,962 |  | 6,229,885 |
Cash at bank and in hand | 18 | 3,467,986 |  | 2,242,112 |
|  | 12,675,638 |  | 11,348,592 |
Creditors: amounts falling due within one year | 19 | (5,339,930) |  | (4,667,833) |
Net current assets |  |  | 7,335,708 |  | 6,680,759
Total assets less current liabilities |  |  | 14,870,505 |  | 13,935,656
Creditors: amounts falling due after more than one year | 20 |  | (447,915) |  | (648,171)
Provisions for liabilities |  |  |  |  |
Deferred taxation | 22 | (618,615) |  | (507,205) |
|  |  | (618,615) |  | (507,205)
Net assets |  |  | 13,803,975 |  | 12,780,280
Capital and reserves |  |  |  |  |
Called up share capital | 23 |  | 17,028 |  | 17,028
Share premium account |  |  | 364,574 |  | 364,574
Capital redemption reserve |  |  | 1,300 |  | 1,300
Profit and loss account |  |  | 13,421,073 |  | 12,397,378
Total capital and reserves |  |  | 13,803,975 |  | 12,780,280
Page 13
CATERITE FOOD AND WINESERVICE LIMITED REGISTERED NUMBER: 03639100 STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 SEPTEMBER 2025 The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr LJ Byrne
Director
Date: 1 April 2026
The notes on pages 18 to 37 form part of these financial statements. Page 14
CATERITE FOOD AND WINESERVICE LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
| Called up share capital | Share premium account | Capital redemption reserve | Share option reserve | Profit and loss reserve | Total equity
| £ | £ | £ | £ | £ | £
At 1 January 2024 | 15,950 | 257,852 | 1,300 | 10,020 | 11,613,589 | 11,898,711
Comprehensive income for the year |  |  |  |  |  |
Profit for the year | - | - | - | - | 670,322 | 670,322
Total comprehensive income for the year | - | - | - | - | 670,322 | 670,322
Contributions by and distributions to owners |  |  |  |  |  |
Dividends: Equity capital | - | - | - | - | (355,463) | (355,463)
Shares issued during the year | 1,078 | 106,722 | - | - | - | 107,800
Transfer to/from profit and loss account | - | - | - | (468,930) | 468,930 | -
Grant of share option | - | - | - | 458,910 | - | 458,910
Total transactions with owners | 1,078 | 106,722 | - | (10,020) | 113,467 | 211,247
At 1 January 2025 | 17,028 | 364,574 | 1,300 | - | 12,397,378 | 12,780,280
Comprehensive income for the 9 months |  |  |  |  |  |
Profit for the 9 months | - | - | - | - | 1,023,695 | 1,023,695
Total comprehensive income for the 9 months | - | - | - | - | 1,023,695 | 1,023,695
Total transactions with owners | - | - | - | - | - | -
At 30 September 2025 | 17,028 | 364,574 | 1,300 | - | 13,421,073 | 13,803,975
| The notes on pages 18 to 37 form part of these financial statements.
Page 15
CATERITE FOOD AND WINESERVICE LIMITED STATEMENT OF CASH FLOWS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
|  |  | 9 months ended 30 September | Year ended 31 December
|  |  | 2025 | 2024
|  |  | £ | £
Cash flows from operating activities |  |
Profit for the financial 9 months | 1,023,695 | 670,322
Adjustments for: |  |
Amortisation of intangible assets | 63,300 | 84,400
Depreciation of tangible assets | 632,066 | 736,200
Fixed assets investments impairment | 100 | -
Loss on disposal of tangible assets | - | 7,155
Interest paid | 43,286 | 63,743
Taxation charge | 111,409 | (94,310)
(Increase) in stocks | (410,095) | (81,712)
(Increase)/decrease in debtors | (791,077) | 257,749
Increase/(decrease) in creditors | 706,359 | (303,898)
Interest received | (47,508) | (26,075)
Corporation tax (paid) | (400,000) | (341,125)
Investment charges | - | 2,820
Investment income | (5,000) | (7,220)
Investment gain/loss on revaluation | - | 11,175
Exercise of share options | - | 458,910
Profit/loss on disposals - investments | - | (14,160)
Net cash generated from operating activities | 926,535 | 1,423,974
Cash flows from investing activities |  |
Purchase of tangible fixed assets | (977,366) | (1,272,543)
Sale of tangible fixed assets | - | 435,409
Repayment/(extension) of loans to group undertakings | 1,538,202 | (1,500,000)
Sale of listed investments | - | 926,882
Interest received | 8,959 | 26,075
Income from investments | 2,000 | 7,220
Other gains and losses | 5,347 | (56,791)
Net cash from investing activities | 577,142 | (1,433,748)
Cash flows from financing activities |  |
Issue of ordinary shares | - | 107,800
Repayment of finance leases | (277,803) | (247,975)
Dividends paid | - | (355,463)
Net cash used in financing activities | (277,803) | (495,638)
Net increase/(decrease) in cash and cash equivalents | 1,225,874 | (505,412)
Page 16
CATERITE FOOD AND WINESERVICE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
|  | 9 months ended 30 September | Year ended 31 December
|  | 2025 | 2024
|  | £ | £
Cash and cash equivalents at beginning of 9 months | 2,242,112 | 2,747,524
Cash and cash equivalents at the end of 9 months | 3,467,986 | 2,242,112
Cash and cash equivalents at the end of 9 months comprise: |  |
Cash at bank and in hand | 3,467,986 | 2,242,112
| 3,467,986 | 2,242,112
Page 17
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
1. | General information
Caterite Food and Wineservice Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Embleton, Cockermouth, Cumbria, CA13 9YA. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
| 2.2 | Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.3 | Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. 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 dispatch 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 the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.4 | Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. Page 18
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.5 | Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
| 2.6 | Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
| 2.7 | Current and deferred taxation
The tax expense for the 9 months comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.8 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence. Page 19
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.9 | Intangible assets
Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is between 5 and 10 years. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
| 2.10 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
|  |  |  | Freehold buildings | - | 24 - 50 year straight line basis
|  |  |  | Leasehold land and buildings | - | Straight line over the life of the lease
|  |  |  | Motor vehicles | - | 20 - 25% straight line/reducing balance basis
|  |  |  | Fixtures and fittings | - | 10 - 25% straight line basis
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | Impairment of fixed assets and goodwill
Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased. Page 20
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.12 | Valuation of investments
Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available. In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
| 2.13 | Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential. 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.
| 2.14 | 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 current liabilities.
| 2.15 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” and section 12 "Other Financial Instruents Issues" of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the Page 21
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.15 | Financial instruments (continued)
recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets 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 profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Other financial instruments Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy. Page 22
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 2.Accounting policies (continued)
| 2.15 | Financial instruments (continued)
Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.16 | Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
3. | Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be 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.
Page 23
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
4. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Depreciation of owned tangible fixed assets | 632,066 | 487,871
| Exchange differences | - | (4,304)
| Other operating lease rentals | 198,723 | 239,618
| Share-based payment | - | 7,155
| Amortisation of intangible assets | 63,300 | 84,400
5. | Auditors' remuneration
| Fees payable to the company's auditor and associates:
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| For audit services Audit of the financial statements of the company | 16,000 | 16,000
| For other services |  |
| Taxation compliance services | 1,820 | 800
| All other non-audit services | 14,064 | 12,155
Page 24
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
6. | Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 5,656,973 | 6,884,947
| Social security costs | 679,018 | 614,398
| Cost of defined contribution scheme | 131,419 | 146,995
|  | 6,467,410 | 7,646,340
| The average monthly number of employees, including the directors, during the 9 months was as follows:
|  |  | 9 months ended 30 September | Year ended 31 December
|  |  | 2025 | 2024
|  |  | No. | No.
|  |  | 240 | 207
Page 25
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
7. | Directors' remuneration
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Directors' emoluments | 179,413 | 105,728
| Company contributions to defined contribution pension schemes | 10,312 | 6,682
|  | 189,725 | 112,410
| During the 9 months retirement benefits were accruing to no directors (2024 - 1) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £125,080 (2024 - £63,385). The value of the Company's contributions paid to a defined contribution pension scheme in respect of the highest paid director amounted to £7,875 (2024 - £1,237). The total accrued pension provision of the highest paid director at 30 September 2025 amounted to £875 (2024 - £NIL). The number of directors who are entitled to receive shares under long term incentive schemes during the year was NIL (2024 - 1).
Page 26
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
8. | Interest receivable and similar income
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Interest on bank deposits | 47,161 | 21,690
| Other interest income | 10,949 | 4,385
|  | 58,110 | 26,075
| Other income from investments |  |
| Dividends received | 495,964 | 7,220
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Investment income includes the following: |  |
| Interest on financial assets not measured at fair value through profit or loss | 47,161 | 21,690
9. | Interest payable and similar expenses
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other interest | - | 1,887
| Finance leases and hire purchase contract | 43,286 | 52,084
|  | 43,286 | 53,971
Page 27
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
10. | Taxation
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Adjustments in respect of previous periods | - | (9,451)
|  | - | (9,451)
| Total current tax | - | (9,451)
| Deferred tax |  |
| Origination and reversal of timing differences | 111,409 | (84,860)
| Total deferred tax | 111,409 | (84,860)
| Tax on profit | 111,409 | (94,311)
Page 28
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025 10.Taxation (continued)
| Factors affecting tax charge for the 9 months/year
| The tax assessed for the 9 months/year is lower than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,135,104 | 797,172
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 283,776 | 199,293
| Effects of: |  |
| Tax effect of expenses that are not deductible in determining taxable profit | 275 | 8,827
| Tax effect of income not taxable in determining taxable profit | (123,991) | (1,805)
| Adjustments to tax charge in respect of prior periods | (66,795) | (9,450)
| Depreciation on assets not qualifying for tax allowances | 17,671 | 23,348
| Amortisation on assets not qualifying for tax allowances | 15,825 | 21,100
| Movement in deferred tax not recognised | (15,352) | 75,559
| Tax deduction arising from exercise of employee options | - | (411,183)
| Total tax charge for the 9 months/year | 111,409 | (94,311)
11. | Dividends
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Ordinary A |  |
| Interim paid - 13.41 per share (2024: 13.41 per share) | - | 147,481
| Ordinary B |  |
| Interim paid - 16.52 per share (2024: 16.52 per share) | - | 16,519
| Ordinary E |  |
| Interim paid - 103.79 per share (2024: 103.79 per share) | - | 191,463
|  | - | 355,463
Page 29
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
12. | Exceptional items
|  |  |  |  | 9 months ended 30 September | Year ended 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Exceptional expense | - | 133,738
|  | - | 133,738
| Exceptional cost relates to a one-off employers national insurance charge due on the exercise of an option to purchase shares in the company.
13. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 January 2025 | 1,074,000
| At 30 September 2025 | 1,074,000
| Amortisation |
| At 1 January 2025 | 799,050
| Charge for the 9 months on owned assets | 63,300
| At 30 September 2025 | 862,350
| Net book value |
| At 30 September 2025 | 211,650
| At 31 December 2024 | 274,950
Page 30
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
14. | Tangible fixed assets
|  | Freehold property | Long-term leasehold property | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2025 | 3,623,852 | 67,079 | 4,174,084 | 3,876,929 | 11,741,944
| Additions | 150,276 | - | 481,482 | 345,608 | 977,366
| At 30 September 2025 | 3,774,128 | 67,079 | 4,655,566 | 4,222,537 | 12,719,310
| Depreciation |  |  |  |  |
| At 1 January 2025 | 319,692 | 12,855 | 1,814,015 | 2,617,535 | 4,764,097
| Charge for the 9 months on owned assets | 68,010 | 2,669 | 365,000 | 196,387 | 632,066
| At 30 September 2025 | 387,702 | 15,524 | 2,179,015 | 2,813,922 | 5,396,163
| Net book value |  |  |  |  |
| At 30 September 2025 | 3,386,426 | 51,555 | 2,476,551 | 1,408,615 | 7,323,147
| At 31 December 2024 | 3,304,160 | 54,224 | 2,360,069 | 1,259,394 | 6,977,847
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fixtures and fittings | 21,177 | 19,413
| Motor vehicles | 1,611,493 | 1,861,689
|  | 1,632,670 | 1,881,102
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CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
15. | Fixed asset investments
|  | Investments in subsidiary companies | Unlisted investments | Total
|  | £ | £ | £
| At 1 January 2025 | 100 | 2,000 | 2,100
| Disposals | - | (2,000) | (2,000)
| Amounts written off | (100) | - | (100)
| At 30 September 2025 | - | - | -
| Net book value |  |  |
| At 30 September 2025 | - | - | -
| At 31 December 2024 | 100 | 2,000 | 2,100
16. | Stocks
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Finished goods and goods for resale | 3,286,690 | 2,876,595
|  | 3,286,690 | 2,876,595
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CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
17. | Debtors
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 4,522,855 | 4,076,104
| Amounts owed by group undertakings | - | 1,502,359
| Other debtors | 949,667 | 426,242
| Prepayments and accrued income | 448,440 | 225,180
|  | 5,920,962 | 6,229,885
18. | Cash and cash equivalents
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 3,467,986 | 2,242,112
|  | 3,467,986 | 2,242,112
19. | Creditors: Amounts falling due within one year
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 3,646,661 | 2,388,893
| Amounts owed to group undertakings | - | 277,839
| Other taxation and social security | 168,858 | 155,212
| Obligations under finance lease and hire purchase contracts | 275,121 | 309,382
| Accruals and deferred income | 1,249,290 | 1,536,507
|  | 5,339,930 | 4,667,833
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CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
20. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | 447,915 | 648,171
|  | 447,915 | 648,171
21. | Hire purchase and finance leases
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 275,121 | 309,382
| Between 1-5 years | 447,915 | 648,171
|  | 723,036 | 957,553
22. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (507,205)
| Charged to profit or loss | (111,410)
| At end of year | (618,615)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (618,615) | (507,205)
|  | (618,615) | (507,205)
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CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
23. | Share capital
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 11,000 (2024 - 11,000) Ordinary A shares of £1.00 each | 11,000 | 11,000
|  | 1,000 (2024 - 1,000) Ordinary B shares of £1.00 each | 1,000 | 1,000
|  | 1,000 (2024 - 1,000) Ordinary C shares of £1.00 each | 1,000 | 1,000
|  | 2,928 (2024 - 2,928) Ordinary E shares of £1.00 each | 2,928 | 2,928
|  | 1,100 (2024 - 1,100) Ordinary F shares of £1.00 each | 1,100 | 1,100
|  |  | 17,028 | 17,028
24. | Analysis of net debt
|  | At 1 January 2025 | Cash flows | At 30 September 2025
|  | £ | £ | £
| Cash at bank and in hand | 2,242,112 | 1,225,874 | 3,467,986
| Finance leases | (957,553) | 234,517 | (723,036)
|  | 1,284,559 | 1,460,391 | 2,744,950
25. | Capital commitments
| At 30 September 2025 the Company had capital commitments as follows:
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Contracted for but not provided in these financial statements | 386,685 | -
|  | 386,685 | -
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CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
26. | Retirement benefit schemes
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Defined contribution schemes |  |
| Charge to profit or loss in respect of defined contribution schemes | 131,419 | 146,995
| A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
27. | Commitments under operating leases
| At 30 September 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Not later than 1 year | 200,090 | 150,701
| Later than 1 year and not later than 5 years | 234,131 | 293,589
|  | 434,221 | 444,290
Page 36
CATERITE FOOD AND WINESERVICE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE 9 MONTHS ENDED 30 SEPTEMBER 2025
28. | Related party transactions
|  | Sales | Sales | Purchases | Purchases
|  | 2025 | 2024 | 2025 | 2024
|  | £ | £ | £ | £
| Entities with control, joint control or significant influence over the company | 204,102 | 61,193 | 968,648 | 45,082
| Key management personnel | - | 423,733 | - | -
The following amounts were outstanding at the reporting end date:
| Amounts due to related parties
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Entities over which the company has control, joint control or significant influence | 121,542 | 277,839
| The following amounts were outstanding at the reporting end date:
| Amounts due from related parties
|  |  |  |  | 30 September | 31 December
|  |  |  |  | 2025 Balance | 2024 Balance
|  |  |  |  | £ | £
| Parent company | - | 1,502,359
| Key management personnel | - | 42
29. | Controlling party
Caterite Food and Wineservice Limited was previously controlled by Metro AG. During the year, Metro AG was purchased by Mr Daniel Kretínský, following which the Metro AG group was de-listed from the German stock exchange. Mr Daniel Kretínský is therefore the Company’s ultimate controlling party.
Page 37