REGISTERED NUMBER: 11144669 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Period

1 February 2025 to 30 January 2026

for

FRANK KING HOLDINGS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

3

Report of the Independent Auditors

4

Income Statement

8

Balance Sheet

9

Statement of Changes in Equity

10

Notes to the Financial Statements

11

Directors:

J L Fitzsimons

J Hamer

J Hamer

J Latham

Secretary:

J Hamer

Registered office:

69 Queen Street

Wigan

WN3 4HX

Registered number:

11144669 (England and Wales)

Auditors:

S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

The directors present their strategic report for the period 1 February 2025 to 30 January 2026.

Principal Activity

The principal activity of the company was that of a holding company, which leases property to the trading company of the group. The company has also a 50% stake in a joint venture that imports meat primarily into the UK and Ireland from Europe. In November 2025 there was a group restructure and subsequently Frank King Holdings is 100% owned by Frank King Group Ltd which is a newly incorporated entity. The group's principal activity during the period continued to be the manufacturing and wholesale of cooked meats.

Review of business

The company posted a strong period financial performance also showing an increase in net assets.

Principal risks and uncertainties

The directors regularly review the business risks and uncertainties facing the company and take the appropriate action where necessary. The following issues are the principal risks and uncertainties faced by the company.

Interest rate risk

The company has funded the purchase of properties through loans. As such, the operations of the entity are exposed to the effects of the changes in interest rate on debt. Wherever possible, the entity enters into fixed interest rate agreements to reduce the exposure to changes in interest rates. However, should interest rates increase, the entity is well placed to absorb any changes in rates as cash flow remains strong.

Security of Tenants

The Company rents out their properties to a fellow group entity, and Frank King Holdings Limited are reliant on them to meet their lease obligations as they fall due. As the rent is to a fellow group entity, the directors are fully aware of the company’s risks and uncertainties and actively monitor and mitigate these where appropriate.

Key performance indicators

2026

2025

£

£

Turnover

219,131

206,106

Operating profit

39,621

111,976

Profit after taxation

1,017,632

523,837

Current assets

6,787

38,131

Total equity

3,548,288

3,486,179

On behalf of the board:

J Latham - Director

22 June 2026

The directors present their report with the financial statements of the company for the period 1 February 2025 to 30 January 2026.

Dividends

Ordinary dividends were paid amounts to £955,523. The directors do not recommend payment of a further dividend.

Directors

The directors shown below have held office during the whole of the period from 1 February 2025 to the date of this report.

J L Fitzsimons

J Hamer

J Hamer

J Latham

Disclosure in the strategic report

The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of:

-

Financial risk management and objective policies

-

Future developments

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 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 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 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.

Statement as to disclosure of information to auditors

So far as the directors are 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 each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board:

J Latham - Director

22 June 2026

Opinion

We have audited the financial statements of Frank King Holdings Limited (the 'company') for the period ended 30 January 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 30 January 2026 and of its profit for the period 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 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 report of the directors, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the report of the directors. 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.

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 Directors 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 Directors 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 Report of the Directors.

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 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 Statement of Directors' Responsibilities set out on page three, 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 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.

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.

We obtained a general understanding of the company's legal and regulatory framework through the enquiry of management concerning their understanding of relevant laws and regulations, the company's policies and procedures regarding compliance and how they identify, evaluate and account for litigation claims. We also drew on our existing understanding of the company's industry and regulation,

We understand that the company complies with the framework through outsourcing accounts preparation and tax compliance to external experts and legal matters where required to external experts.

In the context of the audit, we considered those laws and regulations which determine the form and context of the financial statements, which are central to the company's ability to conduct its business and where there is a risk that failure to comply could result in material penalties. We identified the following laws and regulations as being of significance in the context of the company:

- The Companies Act 2006 and FRS 102 in respect of the preparation and presentation of the financial statements; and

- UK taxation law.

The senior statutory auditor led a discussion with senior members of the engagement team regarding the susceptibility of the entity's financial statements to material misstatement including how fraud might occur.

The areas identified in this discussion were:

- Manipulation of financial statement, via fraudulent journal entries; and

- The results of the impairment review of the freehold properties.

These areas were communicated to the other members of the engagement team not present at the discussion.

The procedures we carried out to gain evidence in the above areas included:

- Assessing and challenging management key accounting estimates by evaluating the significant assumptions and the choice of data used, this includes the review of the value of the properties;

- Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; and

- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

Overall, the senior statutory auditor was satisfied that the engagement team collectively had the appropriate competence and capabilities to identify and recognise irregularities.

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 occuring 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 Report of the Auditors.

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.

David Fort FCA (Senior Statutory Auditor)

for and on behalf of S&W Audit

Pall Mall

1 Pollen Square

59 King Street

Manchester

M2 4PD

22 June 2026

Turnover

219,131

206,106

Administrative expenses

(179,510

)

(94,130

)

Operating profit

5

39,621

111,976

Income from shares in group undertakings

990,523

408,009

Income from participating interests

100,000

100,000

Interest receivable and similar income

722

128

1,130,866

620,113

Interest payable and similar expenses

6

(88,500

)

(75,985

)

Profit before taxation

1,042,366

544,128

Tax on profit

7

(24,734

)

(20,291

)

Profit for the financial period

1,017,632

523,837

Fixed assets

Tangible assets

9

2,563,426

3,266,612

Investments

10

3,450,000

3,450,000

Investment property

11

-

499,200

6,013,426

7,215,812

Current assets

Debtors

12

4,927

33,041

Cash at bank

1,860

5,090

6,787

38,131

Creditors

Amounts falling due within one year

13

1,153,823

2,926,706

Net current liabilities

(1,147,036

)

(2,888,575

)

Total assets less current liabilities

4,866,390

4,327,237

Creditors

Amounts falling due after more than one year

14

(1,312,480

)

(841,058

)

Provisions for liabilities

17

(5,622

)

-

Net assets

3,548,288

3,486,179

Capital and reserves

Called up share capital

18

1,675,250

1,675,250

Retained earnings

19

1,873,038

1,810,929

Shareholders' funds

3,548,288

3,486,179

The financial statements were approved by the Board of Directors and authorised for issue on 22 June 2026 and were signed on its behalf by:

J Latham - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 27 January 2024

1,675,250

1,695,101

3,370,351

Changes in equity

Dividends

-

(408,009

)

(408,009

)

Total comprehensive income

-

523,837

523,837

Balance at 31 January 2025

1,675,250

1,810,929

3,486,179

Changes in equity

Dividends

-

(955,523

)

(955,523

)

Total comprehensive income

-

1,017,632

1,017,632

Balance at 30 January 2026

1,675,250

1,873,038

3,548,288

1.	Statutory information

Frank King Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

Reporting period

The company draws its balance sheet to the closest Friday to the accounting reference date of 30 January. The current accounting period is a long period of 364 days. The comparative amounts presented in the financial statements are not entirely comparable.

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

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

Going concern

The financial statements have been prepared on a going concern basis due to ongoing support from a fellow group entity.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about Frank King Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Frank King Group Limited, 69 Queen Street, Wigan, England, WN3 4HX.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the group'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.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment assessment

As assessment has been conducted as to whether an impairment exists. The higher of the fair value less costs to sell and the value in use has been assessed against the carrying amounts of the assets. It was determined that there is no impairment in the current year due to the current market data for similar properties being greater than the carrying amount of the assets.

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

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

Freehold property

-

2% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Costs include the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Fixed asset 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 be otherwise measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

Financial instruments

The company has elected to apply the provisions of Section 11 `Basic Financial Instruments` and Section 12 `Other Financial Instruments Issues` of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset and 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of 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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the condition in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation

Taxation for the period 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.

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 period 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.

4.	Employees and directors

There were no staff costs for the period ended 30 January 2026 nor for the period ended 31 January 2025.

The average number of employees during the period was as follows:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

Senior management

4

4

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Directors' remuneration

-

-

5.	Operating profit

The operating profit is stated after charging:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Depreciation - owned assets

60,291

22,019

Loss on disposal of fixed assets

45,219

-

Auditors' remuneration

9,200

6,500

6.

Interest payable and similar expenses

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Bank interest

88,500

75,985

7.

Taxation

Analysis of the tax charge

The tax charge on the profit for the period was as follows:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Current tax:

UK corporation tax

19,112

20,291

Deferred tax

5,622

-

Tax on profit

24,734

20,291

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Profit before tax

1,042,366

544,128

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%)

260,592

136,032

Effects of:

Expenses not deductible for tax purposes

21,793

6,377

Income not taxable for tax purposes

(272,631

)

(127,002

)

Depreciation in excess of capital allowances

9,452

5,505

Marginal relief

(94

)

(621

)

Deferred tax

5,622

-

Total tax charge

24,734

20,291

8.

Dividends

Period

Period

1/2/25

27/1/24

to

to

30/1/26

31/1/25

£

£

Final paid

955,523

408,009

9.	Tangible fixed assets

Freehold

property

£

Cost

At 1 February 2025

3,407,957

Additions

78,124

Disposals

(808,292

)

At 30 January 2026

2,677,789

Depreciation

At 1 February 2025

141,345

Charge for period

60,291

Eliminated on disposal

(87,273

)

At 30 January 2026

114,363

Net book value

At 30 January 2026

2,563,426

At 31 January 2025

3,266,612

10.	Fixed asset investments

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

Cost

At 1 February 2025

and 30 January 2026

3,350,000

100,000

3,450,000

Net book value

At 30 January 2026

3,350,000

100,000

3,450,000

At 31 January 2025

3,350,000

100,000

3,450,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Joint venture

Barcino Meats Limited

Registered office:

Nature of business: 69 Queen Street, Wigan, WN3 4HX

%

Class of shares:

holding

Ordinary

50.00

2026

2025

£

£

Aggregate capital and reserves

1,286,090

1,032,684

Profit for the period

453,406

501,651

11.	Investment property

Total

£

Fair value

At 1 February 2025

499,200

Disposals

(499,200

)

At 30 January 2026

-

Net book value

At 30 January 2026

-

At 31 January 2025

499,200

12.

Debtors: amounts falling due within one year

2026

2025

£

£

Trade debtors

-

9,600

Other debtors

250

250

VAT

4,633

22,668

Prepayments and accrued income

44

523

4,927

33,041

13.

Creditors: amounts falling due within one year

2026

2025

£

£

Bank loans and overdrafts (see note 15)

105,803

1,372,542

Trade creditors

9,513

17

Amounts owed to group undertakings

1,004,926

1,471,595

Corporation tax

19,112

20,234

Other creditors

1,085

-

Accruals and deferred income

13,384

62,318

1,153,823

2,926,706