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Registered number:
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
COMPANY INFORMATION
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PEDDARS PIGS LIMITED
CONTENTS
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PEDDARS PIGS LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The principal activity of the Company is the breeding and rearing of pigs for the food industry.
This is the first period since incorporation and includes 15 months from 4 October 2024 to the 31 December 2025. There are no comparatives.
The Company acquired the trade and assets of an existing pig breeding and rearing business. The Company operates circa 115 farms, of which 16 are breeding units. The Company is dedicated to ensuring that animals are kept in as stress-free an environment as possible and that animal welfare standards are maintained at a high level. The Company is compliant with Red Tractor, Free Range and Outdoor Bred; with 95% of our pigs being Outdoor bred. The Company continues to invest in the farm premises and equipment used to that effect. Turnover for the period was £75,936,352. Gross profit was £11,433,340. Operating profit was £3,840,442. During this period, the performance of the Company was ahead against internal expectations. The directors will seek to maintain profitability with additional investment in the equipment used, improved revenue streams and ongoing focus on costs and efficiencies. Principal risks and uncertainties The Company is exposed to the risks that face the livestock industry, such risks which are generally outside of the control of the Company, include unforeseen changes in purchase and selling prices, poor harvests having an impact on feed price and disease to livestock. Contagious animal diseases and failing livestock numbers are a continuing risk for the Company. The Company manages these risks by adhering to strict bio-security procedures and pig production is spread across a number of sites so that risks of infection are limited in the event of a UK outbreak. Feed prices Prices are subject to fluctuations which are beyond the Company's control. The Company seeks to minimise the impact of the fluctuations by managing the best use of its resources to ensure that the correct type of feed is reaching animals at the appropriate stage of growth. Competition from abroad The Company manages this risk by managing its efficiency and maintaining strong relationships with its customers. Liquidity risk The Company is financed with appropriate long-term and short-term finance to match the needs of the business.
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PEDDARS PIGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
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. Regulatory risk The Company works closely with relevant trade bodies and professional advisers to monitor potential changes in the regulatory environment. The directors regularly assess the impact of such changes and agrees appropriate implementation strategies designed to minimise cost and operational disruption. The Company invests in compliance and has strict policies to ensure it adheres diligently to the required standards. Effective communication is essential to ensure that the comprehensive policies are implemented by its site teams.
Key performance indicators used by the Company are as follows:
- Turnover; - Gross profit; and - Operating profit Details of the key performance indicators are shown in the Statement of Comprehensive Income. Cash flow is also closely monitored and measured.
We undertake the comparison of key performance indicators as part of our internal management procedures. Each individual farm is monitored comparing pig movements, sales and profits. The methods used in the farms that excel are then used to enhance the performance of the other farms.
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PEDDARS PIGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
During the period, the directors have had regard to the matters set out in S172 (1) (a) to (f) of the Companies Act 2006 whilst performing their duties. Whilst making decisions the directors ensure that they have acted in good faith, in a way they believe would promote the success of the Company for the benefit of its members as a whole.
Specifically, the directors have considered the following: 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 conduct; and f. The need to act fairly between members of the Company. S172 (1) (a) The likely consequences of any decision in the long term The directors understand the business and the 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, 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. S172 (1) (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 the 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. S172 (1) (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 recognise that working with suppliers and customers is also key to ensuring the impact to the environment is minimised. S172 (1) (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. S172 (1) (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 within the local community is maintained.
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PEDDARS PIGS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
S172 (1) (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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PEDDARS PIGS LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the period ended 31 December 2025.
The profit for the period, after taxation, amounted to £2,752,879.
There were no dividends paid during the 15 month period.
The directors who served during the period were:
Environmental matters The Company will seek to minimise adverse impacts on the environment from its activities, whilst continuing to address health, safety and economic issues. The Company has complied with all applicable legislation and regulations. The Companies Act 2006 (Strategic Report and Directors' Report) Regulation 2018 requires Peddars Pigs 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. Please note that this report covers the period 1 January 2025 to 31 December 2025. Peddars Pigs Limited is a newly incorporated company. Emissions data is unavailable for the period 4 October 2024 - 31 December 2024. 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 Factors 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 AIB residual mix factors. An emissions factor of 0.000421 tCO2/kWh was applied for the period 01/01/2025 - 31/12/2025. Consumption (kWh) and Greenhouse Gas emissions (tCO2e) totals Scope 1: Emissions associated with gas usage and transportation fuels (under the company's control). Scope 2: Emissions associated with the consumption of purchased electricity are presented on both a location-based (using country average electricity emission factors) and market-based (considering any purchased renewable generated electricity) approach.
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PEDDARS PIGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
Scope 3: Company's value chain emissions, divided into 15 categories, as established by the Greenhouse Gas Protocol Corporate Value Chain (Scope 3) Accounting & Reporting Standard. Under SECR, and this report, this is limited to emissions resulting from sources not directly owned by the company. For example, grey fleet business travel undertaken in employee-owned vehicles only. Scope 3 emissions disclosures are voluntary and have not been disclosed.
Totals
The total consumption (kWh) figures for energy supplies reportable by Peddars Pigs Limited are as follows:
The total location-based emissions (tCO2e) figures for energy supplies reportable by Peddars Pigs Limited are as follows:
The total market-based emissions (tCO2e) figures for energy supplies reportable by Peddars Pigs Limited are as follows:
Intensity Metrics
The below intensity metrics have been calculated for the period 01/01/2025 - 31/12/2025.
Location Based:
tCO2e / Revenue (£m) - 42.09
Market Based:
tCO2e / Revenue (£m) - 42.36
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PEDDARS PIGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
Energy Efficiency Improvements
This is the first accounting period of the Company. No energy efficiency actions were undertaken during the year. The Company has commenced identifying potential energy efficiency initiatives for implementation in future periods.
Going forward the directors aim to continue to grow the business whilst keeping a tight control over costs.
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. 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.
The auditor, MHA, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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PEDDARS PIGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD 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 judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; 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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PEDDARS PIGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PEDDARS PIGS LIMITED
We have audited the financial statements of Peddars Pigs Limited (the 'Company') for the period 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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PEDDARS PIGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PEDDARS PIGS 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 period 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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PEDDARS PIGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PEDDARS PIGS 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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PEDDARS PIGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PEDDARS PIGS LIMITED (CONTINUED)
for and on behalf of MHA, Statutory Auditors
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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PEDDARS PIGS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
REGISTERED NUMBER: 15998285
BALANCE SHEET
AS AT 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
REGISTERED NUMBER: 15998285
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:
The notes on pages 17 to 36 form part of these financial statements.
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PEDDARS PIGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
Peddars Pigs Limited is a private company, limited by shares, domiciled in England and Wales, registration number 15998285. The registered office is The Mill House Business Centre, Station Road, Castle Donington, United Kingdom, DE74 2NJ.
The principal activity of the Company during the period was the breeding and rearing of pigs.
The Company was incorporated on 4 October 2024. The figures in the accounts are for the period from 4 October 2024 to 31 December 2025. There are no comparatives.
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 judgment 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; and
∙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, West Midlands, CV2 2QB.
During the year, the Company acquired trade and assets from an entity under common control. The transaction has been accounted for using merger accounting. Accordingly, the assets and liabilities acquired have been recognised at their existing carrying values and no goodwill has arisen on the transaction.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 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 ApS & 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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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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 and reducing balance 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.
Biological assets Peddars Pigs Limited, rears pigs for the food industry. The Company's biological assets consist of breeding livestock, including breeding sows and breeding boars. Pigs held for sale as part of the normal production cycle are accounted for as inventory. Biological assets are initially recognised at cost and subsequently measured at cost less accumulated depreciation and any accumulated impairment losses. Cost comprises expenditure directly attributable to bringing the animals to their present condition, including feed, veterinary costs and other directly attributable rearing expenses. As the animals mature, additional directly attributable costs are capitalised, resulting in an increase in the carrying value of the biological assets. Depreciation is charged over the estimated productive life of the breeding livestock, commencing when the animals are available for their intended use. The carrying value of biological assets is reviewed for indicators of impairment at each reporting date and written down to recoverable amount where necessary. Where a biological asset reaches the end of its productive breeding life and is subsequently used within the Company's meat manufacturing operations, the asset is transferred from biological assets to inventory at its carrying value on the date of transfer. This policy is applied in accordance with FRS 102 Section 34, under which the Company has elected to measure biological assets using the cost model.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers. Livestock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost comprises all directly attributable costs incurred in bringing the animals to their present condition, including feed, veterinary expenses and attributable production overheads. Costs are accumulated throughout the production cycle and allocated to the livestock based on their stage of development at the reporting date. Any excess of the carrying value of biological assets over their net realisable value is recognised as an impairment loss in the Statement of Comprehensive Income. Feed, veterinary supplies and general stock: Feed and other pig related supplies are valued at actual cost on a first in first out basis. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
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 the Statement of Comprehensive Income) 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.
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 the Statement of Comprehensive Income). When this constitutes a financing transaction, whereby the
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
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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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 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 fixed assets The annual depreciation charge for tangible fixed 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) 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. (iii) Livestock valuation The Company is engaged in the breeding, rearing and finishing of pigs and is therefore exposed to changes in livestock market prices, feed costs and other factors affecting the recoverability of biological asset values. As a result, it is necessary to consider whether the carrying value of biological assets remains recoverable at each reporting date. When assessing the need for a provision, management considers the age, condition and stage of development of the livestock, together with expected market values, anticipated production performance, mortality rates and estimated costs to complete and sell. Where the recoverable amount of biological assets is assessed to be lower than their carrying value, an appropriate provision is recognised to reduce the assets to their recoverable amount.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
12.Taxation (continued)
There are no factors to note that may affect future tax charges.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
13.Tangible fixed assets (continued)
During the year, the Company's plant and machinery and motor vehicles were revalued by G&V Tait, an independent professionally qualified valuer, on the basis of fair value. The revaluation resulted in an increase in carrying value of £4,161,683, which has been recognised in the revaluation reserve. The assets are carried at valuation less subsequent depreciation and impairment.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
20.Deferred taxation (continued)
During the period, the Company allotted 7,309,856 ordinary shares of £1.00 each for cash consideration of £7,309,856. The shares were issued at par and were fully paid.
Each share carries one vote, ranked equally in respect of dividends and capital distributions (including on winding up), is non-redeemable, and entitles the holder to appoint one director.
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PEDDARS PIGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
The immediate parent company is CPC Foods Limited, a company incorporated in the United Kingdom. CPC Foods Limited holds the controlling interest in the Company.
CPC Foods Limited is controlled by Premium Food Group ApS & Co. KG, a company incorporated in Germany. CPC Foods Limited produces consolidated accounts which are publicly available at Oak House, Heyford Close, Aldermans Green, Coventry, West Midlands, CV2 2QB.
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