Registration number: NI641220

Ballymena Meats Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 8

Ballymena Meats Ltd

(Registration number: NI641220)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	550,266	576,803
Current assets
Stocks	6	81,592	119,846
Debtors	7	1,261,389	1,009,601
Cash at bank and in hand		35,613	18,019
		1,378,594	1,147,466
Creditors: Amounts falling due within one year	8	(1,258,575)	(1,171,566)
Net current assets/(liabilities)		120,019	(24,100)
Total assets less current liabilities		670,285	552,703
Creditors: Amounts falling due after more than one year	8	-	(6,931)
Provisions for liabilities		(12,394)	(11,439)
Net assets		657,891	534,333
Capital and reserves
Called up share capital	9	400,000	400,000
Retained earnings		257,891	134,333
Shareholders' funds		657,891	534,333

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 July 2026 and signed on its behalf by:
 

......................................... B M Kearney Company secretary and director

Ballymena Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
51-53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ
Northern Ireland

These financial statements were authorised for issue by the Board on 23 July 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Ballymena Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	4% straight line
Motor vehicles	25% reducing balance
Other tangible assets	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Ballymena Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Ballymena Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 19).

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	54,337	53,651

5	Tangible assets

	Land and buildings £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 November 2024	714,800	63,530	270,079	1,048,409
Additions	-	-	27,800	27,800
At 31 October 2025	714,800	63,530	297,879	1,076,209
Depreciation
At 1 November 2024	213,175	35,057	223,374	471,606
Charge for the year	28,592	7,119	18,626	54,337
At 31 October 2025	241,767	42,176	242,000	525,943
Carrying amount
At 31 October 2025	473,033	21,354	55,879	550,266
At 31 October 2024	501,625	28,473	46,705	576,803

Included within the net book value of land and buildings above is £473,033 (2024 - £501,625) in respect of freehold land and buildings.
 

Ballymena Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

6

Stocks

	2025 £	2024 £
Other inventories	81,592	119,846

7

Debtors

Current	2025 £	2024 £
Trade debtors	1,231,451	984,423
Prepayments	14,254	11,371
Other debtors	15,684	13,807
	1,261,389	1,009,601

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	10	6,166	9,600
Trade creditors		613,777	514,401
Amounts due to related parties	11	521,984	550,173
Social security and other taxes		10,534	9,412
Other payables		36,049	36,049
Accruals		6,971	26,793
Income tax liability		63,094	25,138
		1,258,575	1,171,566
Due after one year
Loans and borrowings	10	-	6,931

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	10	-	6,931

Ballymena Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	400,000	400,000	400,000	400,000

10	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	6,931

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,166	9,600

Ballymena Meats Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

11	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	45,431	39,915

Expenditure with and payables to related parties

2025	Key management £
Amounts payable to related party	521,984

2024	Key management £
Amounts payable to related party	550,173

12	Parent and ultimate parent undertaking

The company is controlled by the directors who own 100% of the called up share capital.