Registration number:
for the Year Ended
Registration number:
for the Year Ended
Holleys Fine Foods Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Auditor's Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Statement of Cash Flows |
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Notes to the Financial Statements |
Holleys Fine Foods Limited
Company Information
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Directors |
Mr CD Holley Mr K Holley Mr JC Holley Mr SA Rogers Mr RS Holley Mr M Wallis |
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Registered office |
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Auditors |
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Holleys Fine Foods Limited
Strategic Report for the Year Ended 31 December 2025
The Directors present their strategic report for the year ended 31 December 2025.
Principal activity
The principal activity of the Company is the wholesale of food, beverages and confectionery.
Fair review of the business
The company saw further growth in turnover and operating profit this year, which continues the success of the past few years in growing market share and expanding its customer base across the UK.
This past 12 months has seen significant investments to facilitate continued growth for the future and to allow the team to focus on delivering excellent service and efficient distribution of our product range.
The Directors look forward to the year ahead knowing that the investments in 2025 will put the business in a stronger position for the years ahead.
The Company's key financial and other performance indicators during the year were as follows:
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Financial KPIs |
Unit |
2025 |
2024 |
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Gross profit margin |
% |
23.7 |
21.97 |
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Net profit margin |
% |
4.4 |
3.44 |
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Net assets |
£ |
2,554,844 |
2,302,483 |
Principal risks and uncertainties
Uncertainties in wider economy
The company is exposed to potential negative changes in the global economic and geopolitical environment, including but not restricted to, the impact of the war between Iran and the United States. Rising inflation is an ongoing concern for all businesses, including our own.
The ongoing effects of rising energy costs and the cost of living crisis, for our staff, our group, our customers and our consumers, is an area for concern. As a producer, we continue to experience rapidly increasing costs arising from food produce and energy.
The risk is managed through continuous monitoring of the economic environment and regulatory changes, including ongoing engagement with regulators and external bodies, to assess the potential impact and mitigate accordingly.
Operational performance and reputation
Owing to a number of factors, there is a risk of decline to the high customer service levels which customers are accustomed to. The board maintains oversight of the key performance indicators of Company operations including regular board meetings with management.
There is also a risk of supply chain disruption adversely affecting product availability, delivery and cost. Risks are reviewed by the appropriate teams to manage key suppliers and products. Supplier assessments and due diligence are undertaken during the procurement process. There is also ongoing monitoring of supply chain demand against potential supply capacity constraints. Should significant circumstances arise, supply chain continuation plans are agreed upon by the Board and implemented by management.
Holleys Fine Foods Limited
Strategic Report for the Year Ended 31 December 2025
Approved by the
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Holleys Fine Foods Limited
Directors' Report for the Year Ended 31 December 2025
The Directors present their report and the financial statements for the year ended 31 December 2025.
Directors of the Company
The Directors who held office during the year were as follows:
Mr C D Holley
Mr K R Holley
Mr J C Holley
Mr M Wallis
Mr S A Rogers
Mr R S Holley
Financial instruments
Objectives and policies
The company has adopted policies in respect of achieving its objectives relating to financial instruments through a mixture of bank facilities including overdraft arrangements and finance lease arrangements.
Further details of financial instruments are given within the notes to the financial statements under note 2 - Accounting Policies.
Price risk, credit risk, liquidity risk and cash flow risk
Price risk
The company's revenue derives from the wholesale of foods and as such, the company is exposed to the risk of price changes in the supply of the food market.
Credit risk
The company supplies goods to other companies and credit terms are offered to those customers. Holleys Fine Foods Limited has credit risk insurance in place to protect against the risk of default by these debtors.
Trading risk
The company is exposed to the risk in change of importation legislation and demand following the United Kingdom's exit from the European Union.
Supply chain risk
The company is also reliant on a good supply chain within the food and beverage industry without which the company is unable to fulfil customer contracts.
Cash flow risk
Risks of this nature generally arise from timing differences which arise during the company's trading cycle. Any exceptional cash flow risks are mitigated by careful management of banking facilities, level of stock, trade debtors and trade creditors by the company's experienced staff.
Future developments
The Directors expect the business to continue operating along similar lines to the current year for the next financial year. The Directors remain focused on maintaining operational efficiency and financial stability while carefully monitoring external factors that may affect future performance.
Holleys Fine Foods Limited
Directors' Report for the Year Ended 31 December 2025
Statement of Directors' Responsibilities
The Directors acknowledge their responsibilities for preparing the Annual 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 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:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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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 the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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.
Disclosure of information to the auditors
Each Director has taken steps that they ought to have taken as a Director in order to make themselves aware of any relevant audit information and to establish that the Company's auditors are aware of that information. The Directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Reappointment of auditors
The auditors Moore Scarrott Audit Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.
Approved by the
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Holleys Fine Foods Limited
Independent Auditor's Report to the Members of Holleys Fine Foods Limited
Opinion
We have audited the financial statements of Holleys Fine Foods Limited (the 'Company') for the year ended 31 December 2025, which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, 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 31 December 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were 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 Directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Holleys Fine Foods Limited
Independent Auditor's Report to the Members of Holleys Fine Foods Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and 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 our 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 and the Directors' Report.
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 Directors Report, 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.
Auditor 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 auditor’s 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional
scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risk, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. |
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. |
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. |
Holleys Fine Foods Limited
Independent Auditor's Report to the Members of Holleys Fine Foods Limited
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Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s, ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company, to cease to continue as a going concern. |
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Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. |
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Obtain sufficient appropriate audit evidence regarding the financial information of the company to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the company audit. We remain solely responsible for our audit opinion. |
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In planning our audit, we determined materiality for the financial statements as a whole based on considerations of the company’s revenue, assets, and financial performance. Our assessment of materiality was designed to identify misstatements that, individually or in aggregate, could reasonably be expected to influence the economic decisions of users of the financial statements. |
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We also applied a lower threshold, known as performance materiality, to identify and respond to the risk of undetected misstatements. Any misstatements identified above this threshold were evaluated in the context of the financial statements as a whole. |
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Our approach to materiality was communicated to those charged with governance, and we considered both qualitative and quantitative factors, including the nature of balances and disclosures in the financial statements. |
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We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. |
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Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
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we identified the laws and regulations applicable to the company, through discussions with directors and other management, and from our knowledge and experience of the sector; |
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we focussed on specific laws and regulations which we considered may have a direct material effect on the financial statements of the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation; |
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we assessed the extent of compliance with laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance through the audit. |
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We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and |
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understanding the design of the company’s remuneration policies. |
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To address the risk of fraud through management bias and override of controls, we: |
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performed analytical procedures to identify any unusual or unexpected relationships; |
Holleys Fine Foods Limited
Independent Auditor's Report to the Members of Holleys Fine Foods Limited
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tested journal entries to identify unusual transactions; |
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assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and |
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investigated the rationale behind significant or unusual transactions. |
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In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
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agreeing financial statement disclosures to underlying supporting documentation; |
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reading the minutes of meetings of those charged with governance; |
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enquiring of management as to actual and potential litigation and claims |
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reviewing correspondence with HMRC, relevant regulators and the company’s legal advisors; |
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obtain the most recent FSA reviews and scrutinise for evidence of non-compliance; |
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obtain the most recent SALSA review and scrutinise for evidence of non-compliance; |
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review key health and safety documents for reasonableness; |
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meet with the Director responsible for Health and Safety to discuss any reports during the year; |
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complete a Google News search to identify any evidence of breaches causing negative publicity; and |
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review legal nominals to identify any expenses which may relate to a possible breach in laws and regulations. |
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As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. |
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
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 auditor’s 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.
For and on behalf of
Calyx House
South Road
Somerset
TA1 3DU
Holleys Fine Foods Limited
Profit and Loss Account for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
|
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Administrative expenses |
( |
( |
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Operating profit |
1,561,190 |
1,061,595 |
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Other interest receivable and similar income |
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Interest payable and similar expenses |
|
( |
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32,612 |
(1,940) |
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Profit before tax |
|
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Tax on profit |
( |
( |
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Profit for the financial year |
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All the above results relate to continuing operations.
The Company has no recognised gains or losses for the year.
Holleys Fine Foods Limited
(Registration number: 08843480)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
|||
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Intangible assets |
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Tangible assets |
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Current assets |
|||
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Stocks |
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Debtors |
|
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Cash at bank and in hand |
|
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||
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
|||
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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Approved and authorised by the
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Holleys Fine Foods Limited
Statement of Changes in Equity for the Year Ended 31 December 2025
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Share capital |
Retained earnings |
Total |
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At 1 January 2025 |
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 December 2025 |
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Share capital |
Retained earnings |
Total |
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At 1 January 2024 |
|
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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At 31 December 2024 |
118,800 |
2,183,683 |
2,302,483 |
Holleys Fine Foods Limited
Statement of Cash Flows for the Year Ended 31 December 2025
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Note |
2025 |
2024 |
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Cash flows from operating activities |
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Profit for the year |
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Adjustments to cash flows from non-cash items |
|||
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Depreciation and amortisation |
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Loss on disposal of tangible assets |
- |
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Finance income |
( |
( |
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Income tax expense |
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Working capital adjustments |
|||
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(Increase)/decrease in stocks |
( |
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(Increase)/decrease in debtors |
( |
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(Decrease)/increase in creditors |
( |
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Cash generated from operations |
|
|
|
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Income taxes paid |
( |
( |
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Net cash flow from operating activities |
|
|
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Cash flows from investing activities |
|||
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Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
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Proceeds from sale of tangible assets |
- |
|
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Acquisition of intangible assets |
- |
( |
|
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Net cash flows from investing activities |
( |
( |
|
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Cash flows from financing activities |
|||
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Net movement in finance lease creditors |
( |
( |
|
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Dividends paid |
( |
( |
|
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Net cash flows from financing activities |
( |
( |
|
|
Net (decrease)/increase in cash and cash equivalents |
( |
|
|
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Cash and cash equivalents at 1 January |
|
|
|
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Cash and cash equivalents at 31 December |
491,609 |
1,000,223 |
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Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
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General information |
The Company is a private company limited by share capital, incorporated in England and Wales (Registered number 08843480).
The address of its registered office is:
These financial statements were authorised for issue by the
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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 were 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.
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.
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 the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.
Foreign currency transactions and balances
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 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.
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
5 Years Straight Line |
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Fixtures and fittings |
5 Years Straight Line |
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Office equipment |
3 Years Straight Line |
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Motor vehicles |
5 Years Straight Line |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Software |
5 Years Straight Line |
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Goodwill |
10 Years Straight Line |
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.
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 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.
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.
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.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
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.
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Financial instruments
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However the nature of estimation means that actual outcomes could differ from those 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 if the revision affects that period, or in the period of revision and future periods if the revision affects both current and future periods. The critical judgements and key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.
Critical judgements
Depreciation rates and residual values
Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing assets lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Sources of estimation uncertainty
Impairment of fixed assets
The company determines whether there are indicators of impairment of tangible assets. Factors taken into account consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.
Stock provision
The company determines whether there are conditions that exist at the balance sheet date that indicates that the net realisable value of individual stock lines are less than the carrying value. Such indicators include post year end sales, and market demand.
Bad debt provision
The company determines whether there are conditions that exist at the balance sheet date that indicates the recoverable value of debtors is less than the carrying value. Such indicators include post year end cash receipts, and customer sales activity.
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Turnover |
The analysis of the Company's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Other revenue |
|
|
|
|
|
All turnover arose within the United Kingdom.
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Amortisation expense |
|
|
|
Operating lease expense - plant and machinery |
|
|
|
Loss on disposal of property, plant and equipment |
- |
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
|
- |
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Foreign exchange (losses)/gains |
( |
|
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Staff costs |
The aggregate payroll costs (including Directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the Company (including Directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Other departments |
|
|
|
|
|
|
Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
|
Other fees to auditors |
||
|
All other non-audit services |
|
|
|
Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
|
- |
|
477,687 |
302,962 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
( |
|
Tax expense in the income statement |
|
|
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
Corporation tax is charged at a rate of 25% (2024 - 25%) .
Theifferences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Deferred tax credit relating to changes in tax rates or laws |
( |
( |
|
Tax increase from effect of capital allowances and depreciation |
|
|
|
Tax decrease arising from group relief |
- |
( |
|
Other tax effects for reconciliation between accounting profit and tax expense (income) |
56,272 |
(30,026) |
|
Total tax charge |
|
|
|
Intangible assets |
|
Goodwill |
Other intangible assets |
Total |
|
|
Cost or valuation |
|||
|
At 1 January 2025 |
|
|
|
|
At 31 December 2025 |
|
|
|
|
Amortisation |
|||
|
At 1 January 2025 |
|
|
|
|
Amortisation charge |
|
|
|
|
At 31 December 2025 |
|
|
|
|
Carrying amount |
|||
|
At 31 December 2025 |
- |
|
|
|
At 31 December 2024 |
|
|
|
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Tangible assets |
|
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Additions |
|
|
- |
- |
|
|
At 31 December 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 January 2025 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
At 31 December 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 December 2025 |
|
|
|
- |
|
|
At 31 December 2024 |
|
|
|
|
|
|
Stocks |
|
2025 |
2024 |
|
|
Stock |
|
|
|
Debtors |
|
Current |
2025 |
2024 |
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
Prepayments |
|
|
|
Accrued income |
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash at bank |
|
|
|
Short-term deposits |
|
|
|
|
|
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Hire purchase liabilities |
|
|
|
|
Trade creditors |
|
|
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
|
|
|
Social security and other taxes |
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
Other payables |
|
|
|
|
Accruals |
|
|
|
|
Corporation tax liability |
265,976 |
96,690 |
|
|
|
|
||
|
Due after one year |
|||
|
Bank loans and overdrafts |
- |
|
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
At 1 January 2025 |
|
|
|
Additional provisions |
( |
( |
|
At 31 December 2025 |
|
|
|
|
||
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
118,800 |
|
118,800 |
Holleys Fine Foods Limited
Notes to the Financial Statements for the Year Ended 31 December 2025
|
Loans and borrowings |
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Hire purchase contracts |
- |
|
Current loans and borrowings
|
2025 |
2024 |
|
|
Hire purchase contracts |
|
|
|
Commitments |
Other financial commitments
The total amount of other financial commitments not provided in the financial statements was £
|
2025 |
|
|
Due within 1 year |
|
|
Due within 1 - 5 years |
|
|
569,483 |
|
Related party transactions |
Summary of transactions with parent
This is on the grounds that it is a wholly-owned subsidiary of Holleys Fine Foods Holdings Limited, which prepares consolidated financial statements that are publicly available and include the results of the company. The consolidated financial statements of Holleys Fine Foods Holdings Limited can be accessed online at Companies House.
|
Parent and ultimate parent undertaking |
The Company's immediate parent is