Registration number: 4197908

New Century Foods Limited

Contents

Strategic Report	1 to 2
Directors' Report	3
Statement of Directors' Responsibilities	4
Independent Auditor's Report	5 to 8
Profit and Loss Account	9
Balance Sheet	10
Statement of Changes in Equity	11
Statement of Cash Flows	12
Notes to the Financial Statements	13 to 23

New Century 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 that of specialist bacon curers and wholesalers.

Fair review of the business

During the year, the group’s ownership structure changed following the issue of new shares in New Century Foods Limited to its existing directors Simon Mumford and Colin Steel. Each director now holds a 5% equity interest in the business, resulting in a dilution of SLJL Holding Limited’s shareholding to 90%.

Turnover increased by 3% compared with 2024. The continued growth in turnover since 2023 has been supported by maintaining good working relationships with existing customers, together with entering into agreements with new clients.

Gross profit margin increased from 12.4% in 2024 to 14.4% in 2025. This improvement was principally attributable to a decline in pork prices during the year.

At 31 December 2025, the group had net assets of £4,031k, compared with £3,063k at 31 December 2024. The increase in net assets reflects the group’s continued financial performance during the year.

The company's key financial and other performance indicators during the year were as follows:

Financial KPIs	Unit	2025	2024
Turnover	£000	42,506	41,302
Gross profit	£000	6,119	5,136
Gross profit margin	%	14	12

New Century Foods Limited

Strategic Report for the Year Ended 31 December 2025

Principal risks and uncertainties

The business’ principle risks are competitors in the market, raw material prices and various financial risks.

Competitors in the Market:

The risk of competitors is managed by continually ensuring that the pricing remains competitive and the quality of the finished product is of the highest standard through strict quality control procedures.

Raw material prices:

Strict buying control processes ensure the impact of raw material prices is minimised.

Financial risks:

The Company’s operations expose it to a variety of financial risks, principally credit risk and liquidity risk.

The effects of credit risks are controlled by the adoption of policies that require appropriate credit checking and monitoring of the key customer and new accounts.

Liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of bank overdrafts and ensuring that sufficient funds are available to meet amounts due.

Non-financial risks:

The management of the business are subject to a number of non-financial risks and uncertainties including environment risks and the related impact of food scares. These risks are managed by a comprehensive health and safety and food safety policies which are subject to independent audit and inspection routines.

Approved by the Board on 25 September 2026 and signed on its behalf by:

Mr J Lehrmann Director

New Century 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 S R Mumford

Mr J Walker

Mr J Lehrmann

Mr C Steele

Financial instruments

Objectives and policies

The directors take the management of risk very seriously and as such have policies and procedures in place which have been authorised by the board. Managing risk is seen as a key attribute of the company and the company's debt position is closely scrutinised on a regular basis to ensure that it remains serviceable in conjunction with the long term goals of growth and profitability.

Price risk, credit risk, liquidity risk and cash flow risk

The business' principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to finance the business' operations.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. All of the business' cash balances are held in such a way that achieves a competitive rate of interest.

Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

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.

Approved by the Board on 25 September 2026 and signed on its behalf by:

Mr J Lehrmann Director

New Century Foods Limited

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:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	state whether applicable United Kingdom 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 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.

New Century Foods Limited

Independent Auditor's Report to the Members of New Century Foods Limited

Opinion

We have audited the financial statements of New Century 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. 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.

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.

New Century Foods Limited

Independent Auditor's Report to the Members of New Century Foods Limited

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•	the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	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 Statement of Directors' Responsibilities [set out on page 4], 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's 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:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

New Century Foods Limited

Independent Auditor's Report to the Members of New Century Foods Limited

•	the nature of the industry and sector, control environment and business performance including the design of remuneration policies;
•	the company’s own assessment of the risks that irregularities may occur either as a result of fraud or error;
•	results of our enquiries of management about their own identification and assessment of the risks of irregularities;
•	the key laws and regulations under which the business operates and whether management were aware of any instances of non-compliance;
•	whether the management have knowledge of any actual, suspected or alleged fraud;
•	the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
•	the matters discussed among the audit engagement team, regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
•	As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: Laws and regulations applicable to the company specifically relating to health and safety, food standards and food safety; stock costing and revenue recognition.
	We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Tax legislation, and Regulations established by regulators in the key markets in which the company operates specifically food standards and food safety regulations.
	In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty. These included the operating and environmental regulations relevant to the company.
	In addition to the above, our procedures to respond to risks identified included the following:
•	reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described above as having a direct effect on the financial statements;
•	in addressing the risk of fraud through stock costing, we have reviewed the valuation of individual stock items to relevant invoices or appropriate costings where applicable.
•	enquiring of management, concerning any actual and potential litigation and claims;
•	performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
•	in addressing the risk of fraud in revenue recognition, in addition to our testing described above we have performed focussed testing on trades close to the year-end combined with analytical review procedures to assess accuracy and completeness of revenue recognised;
•	in addressing the risk of fraud in the use of purchase ledger/working capital transactions, we have reviewed the accounting treatments adopted by management against the specific contractual terms and arrangements associated with each individual transaction and reviewed the related disclosures in the financial statements; and

New Century Foods Limited

Independent Auditor's Report to the Members of New Century Foods Limited

•	in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
	We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Due to 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 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.

Robert Smith BSc FCA (Senior Statutory Auditor)
For and on behalf of RNS Chartered Accountants, Statutory Auditor

50-54 Oswald Road
Scunthorpe
North Lincolnshire
DN15 7PQ

25 September 2026

New Century Foods Limited

Profit and Loss Account for the Year Ended 31 December 2025

	Note	2025 £	2024 £
Turnover	3	42,506,319	41,301,821
Cost of sales		(36,387,101)	(36,166,012)
Gross profit		6,119,218	5,135,809
Administrative expenses		(4,420,291)	(3,374,429)
Operating profit	5	1,698,927	1,761,380
Interest payable and similar expenses	6	(50,296)	(51,799)
Profit before tax		1,648,631	1,709,581
Tax on profit	10	(431,657)	(434,270)
Profit for the financial year		1,216,974	1,275,311

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

New Century Foods Limited

(Registration number: 4197908)
Balance Sheet as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	11	2,420,707	1,876,834
Investments	12	90,022	-
		2,510,729	1,876,834
Current assets
Stocks	13	1,868,774	1,807,367
Debtors	14	5,961,541	5,717,466
Cash at bank and in hand	15	6,392	6,605
		7,836,707	7,531,438
Creditors: Amounts falling due within one year	16	(5,868,350)	(5,956,308)
Net current assets		1,968,357	1,575,130
Total assets less current liabilities		4,479,086	3,451,964
Creditors: Amounts falling due after more than one year	16	(82,422)	(132,234)
Provisions for liabilities	18	(365,498)	(256,873)
Net assets		4,031,166	3,062,857
Capital and reserves
Called up share capital	20	86,644	77,978
Share premium reserve	21	491,334	-
Capital redemption reserve		12,490	12,490
Retained earnings		3,440,698	2,972,389
Shareholders' funds		4,031,166	3,062,857

Approved and authorised by the Board on 25 September 2026 and signed on its behalf by:
 

Mr J Lehrmann Director