REGISTERED NUMBER: 06545275 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

SOUTH AFRICAN FOODS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Malde

J J Malde

D J Malde

SECRETARY:

J J Malde

REGISTERED OFFICE:

11 Greenhill Crescent

Watford Business Park

Watford

Hertfordshire

WD18 8QU

REGISTERED NUMBER:

06545275 (England and Wales)

ACCOUNTANTS:

mgr MAP Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

BANKERS:

HSBC Bank Plc

73 High Street

Watford

Hertfordshire

WD17 2DS

FIXED ASSETS

Tangible assets

4

88,350

101,572

Investments

5

10,000

10,000

98,350

111,572

CURRENT ASSETS

Stocks

147,552

148,602

Debtors

6

469,698

290,913

Cash at bank

120,465

407,835

737,715

847,350

CREDITORS

Amounts falling due within one year

7

83,841

72,980

NET CURRENT ASSETS

653,874

774,370

TOTAL ASSETS LESS CURRENT LIABILITIES

752,224

885,942

CREDITORS

Amounts falling due after more than one year

8

(10,068

)

(23,895

)

PROVISIONS FOR LIABILITIES

10

(1,608

)

(20,026

)

NET ASSETS

740,548

842,021

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

740,248

841,721

SHAREHOLDERS' FUNDS

740,548

842,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2026 and were signed on its behalf by:

J J Malde - Director

1.	STATUTORY INFORMATION

South African Foods Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

evenly over the period of the lease

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 'Other financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2025 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 April 2025

16,068

213,705

62,372

8,794

300,939

Additions

-

-

8,749

-

8,749

At 31 March 2026

16,068

213,705

71,121

8,794

309,688

DEPRECIATION

At 1 April 2025

744

160,933

35,491

2,199

199,367

Charge for year

1,785

13,193

5,345

1,648

21,971

At 31 March 2026

2,529

174,126

40,836

3,847

221,338

NET BOOK VALUE

At 31 March 2026

13,539

39,579

30,285

4,947

88,350

At 31 March 2025

15,324

52,772

26,881

6,595

101,572

5.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST

At 1 April 2025

and 31 March 2026

10,000

NET BOOK VALUE

At 31 March 2026

10,000

At 31 March 2025

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

23,729

34,659

Other debtors

445,969

256,254

469,698

290,913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

4,581

10,462

Trade creditors

37,917

23,044

Taxation and social security

21,049

16,299

Other creditors

20,294

23,175

83,841

72,980

Included under other creditors is £12,059 (2025 - £10,637) in respect of hire purchase contracts which are secured over the assets concerned.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans

-

1,769

Other creditors

10,068

22,126

10,068

23,895

Other creditors relate to hire purchase contracts which are secured over the assets concerned.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.26

31.3.25

£

£

Within one year

174,996

174,996

Between one and five years

699,984

699,984

In more than five years

452,073

627,069

1,327,053

1,502,049

10.	PROVISIONS FOR LIABILITIES

31.3.26

31.3.25

£

£

Deferred tax

Accelerated capital allowances

and losses

1,608

20,026

1,608

20,026

Deferred

tax

£

Balance at 1 April 2025

20,026

Provided during year

(18,418

)

Balance at 31 March 2026

1,608

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Dividends totalling £Nil (2025 - £1,500) were paid in the year in respect of shares held by the directors.

12.	RELATED PARTY DISCLOSURES

Purchases of £659,162 (2025 - £784,879) and management charges of £92,631 (2025 - £nil) were made from JDM Distributors Limited, a company under common control of the directors.

Included under other debtors is £379,047 (2025 - £202,710) due from JDM Distributors Limited.

Purchases of £175,726 (2025 - £217,094) and sales of £204,325 (2025 - £250,042) were made to Nutrition Brands Limited, a company under common control of the directors.

Included under other debtors is £11,747 (2025 - £9,472) due from Nutrition Brands Limited.