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Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2025
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COMPANY INFORMATION
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CONTENTS
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STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The principal activity of the Company during the year continued to be that of meat purchasing and processing with a focus on bacon and sausages.
Turnover has decreased by £1,636,379 (-1.1%) during the year from £143,276,497 in 2024 to £141,640,118 in 2024.
This is the direct result of volumes being moved to fellow group companies during the year. This is in line with the business continuity plan for the Group, following a fire experienced in another Group company in 2022, which resulted in volumes being serviced by Direct Table Foods Limited in the subsequent years. Gross profit margins decreased from 7.6% in 2024 to 6.4% in 2025, due to increase pressure on margins, industry wide inflation on raw materials, packaging, energy and direct labour. Those were mitigated by increased focus on costs, yield and productivity, with the site restructuring its labour workforce during the period. During the year, operating profit margin decreased from 1.5% to 0.4% in 2024 and 2025 respectively, due to industry wide inflation on transport and indirect labour. The directors will improve profitability in the site and increase focus on costs and efficiencies.
The directors have assessed the principal risks and uncertainties as listed below:
Credit risk and price risk The Company sources its products from a number of suppliers and is exposed to changes in the market prices of its commodities. To mitigate increases in prices, the Company continues to source its products from a number of different suppliers and periodically reviews its agreements with suppliers to ensure these are on commercially favourable terms. Liquidity risk The Company is financed with appropriate long-term and short-term finance to match the needs of the business. Labour availability risk The Company operates a comprehensive recruitment and retention programme, including robust recruitment processes, competitive pay, employee assistance programmes, and ongoing training and development. Agency workers are also used to manage short-term fluctuations in labour demand where necessary. Regulatory risk The Company works closely with relevant trade bodies and professional advisers to monitor potential changes in the regulatory environment. The Board regularly assesses the impact of such changes and agrees appropriate implementation strategies designed to minimise cost and operational disruption.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Key performance indicators used by the Company are as follows:
Turnover, gross profit margin, profit on ordinary activities before taxation. The non-financial key performance indicators of the Company are prime yield percentage, customer service performance levels, kilos produced per man-hour and whether the Company continues to pass food health & safety audits, which it continually does. Cash flow is also closely monitored and measured. Directors' statement of compliance with duty to promote the success of the Company In accordance with section 172 of the Companies Act 2006, the Board acknowledges its duties and responsibilities to act, individually and collectively, in good faith, on behalf of the Company in a way to promote the success of the Company for the benefit of its key stakeholders. In doing so having regard, amongst other matters to: a. The likely consequences of any decision in the long term; b. The interests of the Company's employees; c. The need to foster the Company's business relationships with suppliers, customers and others; d. The impact of the Company's operations on the community and the environment; e. The desirability of the Company maintaining a reputation for high standards of business conducted; and f. The need to act fairly between members of the Company. a. The likely consequences of any decision in the long term The directors understand the business and environment in which it operates. This is key to understanding the likely consequences of any long term decisions. There is a clear plan for growth which ensures they continue to sell quality products, satisfying customer and shareholder needs, amongst other stakeholders. Continually improving environmental performance and operating methods in line with key laws and regulations are integral and fundamental parts of the business strategy. This strategy is key to ensuring the Company is delivering on their duty of care for the benefit of future generations. b. The interests of the Company's employees The directors recognise that the employees are key to the business and its success. What makes them different is their approach to relationships, which extends past expected customer focus, to all their employees. Employee welfare and wellbeing is of utmost importance and they ensure all employees work in a safe and healthy environment and this is supported through regular external health and safety compliance checks. The directors regularly engage with employees through internal communication methods. When making decisions, the directors consider which course of action best delivers the Company strategy in the long term, taking into consideration all stakeholders of the Company, including the employees. c. The need to foster the Company's business relationships with suppliers, customers and others The directors recognise that building relationships with suppliers and customers is also key to the success of the business. Their objective is to become a key partner, delivering quality products each time. This can only be achieved if they are also building relationships with their key suppliers. The directors recognised that working with suppliers and customers is also key to ensuring the impact to the environment is minimised.
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STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
d. The impact of the Company's operations on the community and the environment
The Company recognises the importance of minimising the impact of their operations on the community and environment. e. The desirability of the Company maintaining a reputation for high standards of business conduct The Company is committed to improving quality and reducing any environmental impact, as noted above. This ensures that their reputation with the local community is maintained. f. The need to act fairly between members of the Company When making decisions, the directors consider which course of action best delivers the Company strategy in the long term, taking into consideration all stakeholders of the Company.
This report was approved by the board and signed on its behalf.
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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.
The profit for the year, after taxation, amounted to £1,832,886 (2024 - £2,907,157).
During the year, dividends were declared of £Nil (2024 - £18,831,260).
The directors who served during the year were:
The Companies Act 2006 (Strategic Report and Directors' Report) Regulation 2018 requires Direct Table Foods Limited to disclose annual UK energy consumption and Greenhouse Gas emissions from SECR regulated sources. Energy and Greenhouse Gas emissions have been independently calculated by the ESG division of Inspired Energy PLC. This report (including the Scope 1, 2 and 3 kWh consumption and CO2e emissions data) has been developed and calculated using the GHG Protocol – A Corporate Accounting and Reporting Standard (World Resources Institute and World Business Council for Sustainable Development, 2004); Greenhouse Gas Protocol – Scope 2 Guidance (World Resources Institute, 2015); ISO 14064-1 and ISO 14064-2 (ISO, 2018; ISO, 2019); Environmental Reporting Guidelines: Including Streamlined Energy and Carbon Reporting Guidance (HM Government, 2019). Government Emissions Factor Database 2025 version 1.0 has been used, utilising the published kWh gross Calorific Value (CV) and kgCO2e emissions factors relevant for the reporting period 01/01/2025 – 31/12/2025. All estimations equated to 0.00% of reported consumption. Market-based emissions were calculated using supplier-specific fuel mixes. An emissions factor of 0.000315 tCO2/kWh was applied to electricity supplied by Npower until March 31, 2025. From April 1, 2025, an emissions factor of 0.00 tCO2/kWh was used for electricity supplied by Npower due to the procurement of renewable electricity.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The total consumption (kWh) figures for energy supplies reportable by Direct Table Foods Limited are as follows:
The total location-based emissions (tCO2e) figures for energy supplies reportable by Direct Table Foods Limited are as follows:
Please note that the comparative information for 2024 was restated for the following items. Scope 3 transport emissions (kWh and tCO2e) due to the inclusion of additional transport data which was made available during scope 3 data collection. Change in Scope 1 Other fuels (kWh and tCO2e) and Refrigerants (tCO2e) due to the reclassification of Propane from refrigerants to other fuels.
Intensity Metric Intensity metrics based on tonnes of production have been calculated. Results of this analysis is as follows: Total tonnage produced - 27,367 (2024 - 28,475) Location based: t/CO2e / £m - 15.93 (2024 - 19.66) tCO2e / tonne of production - 0.08 (2024 - 0.10) Market based: t/CO2e / £m - 8.12 (2024 - 26.23) tCO2e / tonne of production - 0.04 (2024 - 0.13)
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Energy efficiency improvements
Direct Table Foods Limited is committed to year-on-year improvements in its operational energy efficiency. A register of energy efficiency measures has been compiled, with a view to implementing these measures in the next five years. Measures undertaken in FY2025 Installation of a new waste compactor Installed in Q4 2025, the compactor has been configured to function on demand, reducing the number of waste collections. This has officially gone live in FY2026. This change is projected to cut collections in half, leading to an estimated 3,500 kgCO2 in savings, while also enhancing overall energy efficiency. Upgradation of batteries The manual handling equipment fleet was fully transitioned to lithium-ion batteries to improve operational efficiency. This reduced charging losses and improved energy efficiency. Upgradation to LED lighting A phased program to replace Electronic Fly Killers (EFK) fittings with LED lighting started in 2025 and is still in progress. This change lowers electricity usage and improves lighting efficiency and lifespan. High-pressure water system A high-pressure water system was installed in 2025 to reduce overall water consumption. The system also lowered energy demand by reducing the volume of water requiring heating. Measures To Be Addressed In FY2026 Localised energy monitoring There are plans to incorporate localised energy monitoring, which will help pinpoint exactly where and when energy is being used, making it easier to spot inefficiencies and reduce waste. This targeted insight enables faster optimisation, lower costs, and more informed decisions at the building or system level. Continued upgrade to LED lighting The phased program to replace EFK fittings with LED lighting will continue into 2026. This change lowers electricity usage and improves lighting efficiency and lifespan.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors have significant experience in the sector and have developed review procedures and control systems to effectively manage the exposure of the entity to price risk, credit risk, liquidity risk and cash flow risk. The Company's principal financial instruments comprise of bank balances, trade creditors and trade debtors. The main purpose of these instruments is to raise funds for the Company's operations and to finance the Company's operations. Due to the nature of the financial instruments used by the Company there is no exposure to price risk. The liquidity risk in respect of these is managed by way of a funding strategy set by the directors which includes setting operating limits to liquidity risk exposure. Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.
Employee involvement The Company places considerable value on the involvement of its employees and has continued to keep them informed on matters affecting them as employees and on various factors affecting the performance of the Company. This is achieved through formal and informal meetings. Employee representatives are consulted regularly on a wide range of matters affecting their current and future interests. Engagement with suppliers, customers and others Employees Our employees contribute to a positive working culture and healthy working environment and are paramount to the success of the business. The Company strives to be a responsible employer in our approach to pay and benefits, constantly engaging with the team to ascertain which training and development opportunities should be made available to improve both productivity as well as individual employees' potential within the business. We continually invest in employee development and wellbeing to create and encourage an inclusive culture within the organisation. Employee appraisal programmes are being adopted which will encourage employee feedback and facilitate the opportunity for both employees and managers to agree on setting performance goals on a regular basis. Our culture invites different perspectives new ideas and opportunities for growth. We work hard to ensure employees feel welcome and are valued and recognised for their hard work. Customers Customers are at the centre of our business and it is essential that the commercial sales teams focus on building long-term partnerships with current and potential customers in order to fully understand their objectives and requirements. Suppliers The Company works with a wide range of suppliers both UK and continental and remains committed to being fair and transparent in dealings with all suppliers. The Company has procedures requiring due diligence of suppliers as to their internal governance. The Company has systems and processes in place to ensure suppliers are paid in a fair and timely manner. Community and environment The Board's approach to social responsibility, diversity and the community is of high importance. Corporate social responsibility principles are part of our culture and decision-making process and we take a consultative approach focused on building long-term relationships and solving business problems.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Regulators
We work closely with all industry sector regulators, Trade Associations and relevant Government Departments in an open and proactive manner in order to help develop regulations that meet the needs of all our stakeholders. The Board's intention is to behave responsibly and to ensure that the management team operates the business in a responsible manner, acting with the high standards and good governance expected of a business like Direct Table Foods Limited.
There have been no significant events affecting the Company since the year end.
The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the board and signed on its behalf.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DIRECT TABLE FOODS LIMITED
We have audited the financial statements of Direct Table Foods Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including 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 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DIRECT TABLE FOODS LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DIRECT TABLE FOODS LIMITED (CONTINUED)
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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
• Enquiry of management and those charged with governance around actual, potential or suspected litigation, claims, non-compliance with applicable laws and regulations and fraud; • Enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and regulations; • Performing audit work over the risk of management override, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; • Reviewing of financial statements disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; and • Discussions amongst the engagement team in relation to how and where fraud might occur in the financial statements and any potential indicators of fraud.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DIRECT TABLE FOODS LIMITED (CONTINUED)
for and on behalf of MHA, Statutory Auditor
Leicester, United Kingdom MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
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STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
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BALANCE SHEET
AS AT 31 DECEMBER 2025
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Direct Table Foods Limited is a private company, limited by shares, domiciled in England and Wales, registration number 01816960. The registered office is Saxham Business Park, Little Saxham, Bury St Edmunds, Suffolk, IP28 6RX.
The principal activity of the Company during the year continues to be that of meat purchasing and processing with a focus on bacon and sausages.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of CPC Foods Limited as at 31 December 2025 and these financial statements may be obtained from Oak House, Heyford Close, Aldermans Green, Coventry, CV2 2QB.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
After reviewing the Company’s forecasts and management’s assessment, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The directors have not identified any material uncertainty in relation to going concern and the Company continues to adopt the going concern basis in preparing its financial statements.
The immediate parent, CPC Foods Limited has received confirmation from the ultimate parent undertaking, Premium Food Group Gmbh & Co. KG, that it will not seek repayment of intercompany balances until the Group is in a position to settle those liabilities. The immediate parent, CPC Foods Limited, has also received confirmation that such support will be made available as required for a period of at least 12 months from the date of approval of the financial statements, and have a reasonable expectation that this support will continue for the foreseeable future. A multi-lateral guarantee is in place across the UK group, and CPC Foods Limited will ensure that this support is made available across the group, as required, to maintain sufficient financial headroom and support the continued operation of the Company.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the Statement of Comprehensive Income. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the Statement of Comprehensive Income.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (i) Useful economic lives of tangible assets The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. (ii) Stocks provisioning The Company continues to slice and package pork and is exposed to changes in the market prices of pork commodities. As a result it is necessary to consider the recoverability of the cost of stocks and the associated provisioning required. When calculating the stocks provision, management considers the nature and condition of the stocks, as well as applying assumptions around anticipated saleability of finished goods and future usage of raw materials. (iii) Impairment of assets The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
12.Taxation (continued)
There are no factors to note that may affect future tax changes.
BEPS 2.0 Pillar Two Legislation Direct Table Foods Limited is part of a group that operates in a number of jurisdictions. The effective tax rate for the financial year 2025 was 0% (2024 - 0%) as a result of Capital allowances, Utilised tax losses and Group relief claims. For periods that commenced on or after 1 January 2024, new tax legislation has been applied to ensure the effective tax rate of the UK companies within the group will be at least 15%, subject to various complex calculations. This is in line with the minimum taxation rules announced by the G7 and progressed by the OECD Inclusive Framework on Base Erosion and Profit Shifting. These rules have been implemented in the UK via the Domestic Top Up Tax legislation during the year. Historically Direct Table Foods Limited’s effective rate has been below 15% but the company has assessed its exposure to Domestic Top Up Tax to be immaterial. In addition, Direct Table Foods Limited is taking advantage of the temporary deferred tax exemption within the “International Tax Reform — Pillar Two Model Rules (Amendments to IAS 12)” in relation to the current year and retrospectively in accordance with IAS 8. This means the Company does not recognise deferred tax assets and liabilities related to OECD pillar two income taxes and does not disclose information about them.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company operates a defined pension contribution pension plan for its employees. The pension cost for the period represents the contribution payable by the Company into fund and amounted to £353,841 (2024 - £374,702). Contributions totalling £
The immediate parent company is CPC Foods Limited, a company incorporated in the United Kingdom, which holds the controlling interest in the Company.
The ultimate parent Company and controlling party was
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