ACCOUNTS - Final Accounts

Registered number: 04104141

QUALITY WELSH FOOD CERTIFICATION LIMITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2026

QUALITY WELSH FOOD CERTIFICATION LIMITED

REGISTERED NUMBER: 04104141

BALANCE SHEET

AS AT 31 MARCH 2026

		2026		2025
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	159,149		128,629
Cash at bank and in hand	6	795,194		682,491
		954,343		811,120
Creditors: amounts falling due within one year	7	(420,100)		(335,826)
Net current assets			534,243		475,294
Total assets less current liabilities			534,243		475,294

Net assets			534,243		475,294

Capital and reserves
Called up share capital	8	100	100
Profit and loss account		534,143	475,194
		534,243	475,294

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2026.

................................................

DK Thomas

Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

QUALITY WELSH FOOD CERTIFICATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

1.	General information

Quality Welsh Food Certification Limited, 04104141, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Gorseland, North Road, Aberystwyth, Ceredigion, SY23 2HE.

The principal activity of the Company is that of farm certification.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The Company's forecasts and projections, taking account of reasonable changes in trading performance, show that the Company is expected to operate within the levels of its current facilities.

After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

QUALITY WELSH FOOD CERTIFICATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations or future events that are believed to be reasonable under the circumstances.

The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates nor assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Employees

The average monthly number of employees, including directors, during the year was 2 (2025 - 2).

Page 3

QUALITY WELSH FOOD CERTIFICATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Debtors

					2026	2025
					£	£


Trade debtors	154,195	126,446
Prepayments and accrued income	4,954	2,183
	159,149	128,629

6.	Cash and cash equivalents
		2026	2025
		£	£

Cash at bank and in hand	795,194	682,491
	795,194	682,491

7.	Creditors: Amounts falling due within one year
		2026	2025
		£	£

Trade creditors	4,691	3,278
Amounts owed to group undertakings	154,580	6,317
Corporation tax	18,623	28,415
Other taxation and social security	21,473	31,272
Accruals and deferred income	220,733	266,544
	420,100	335,826

8.	Share capital
		2026	2025
		£	£

Allotted, called up and fully paid

100 (2025 - 100) Ordinary shares of £1.00 each	100	100

Page 4

QUALITY WELSH FOOD CERTIFICATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.

10.	Prior year adjustment

Costs previously classified as Administration expenses have now been classified as Cost of sales, the net impact on the profit and reserves is £nil.

11.

Related party transactions

Group Companies

WAOS Limited is the parent of this company and owns 75% of the share capital. WAOS Limited provided managment services to the company during the year of £376,000 (2025: £290,400) and recharged recoverable costs of £103,647 (2025: £45,063). At the year end there was £154,580 due to WAOS Limited (2025: £6,317).

Common Control Companies

Welsh Lamb and Beef Promotions Limited (WLBP): The directors considers WLBP a related party due to its close operating links and influence, shared management and objectives. The Company provided services to WLBP during the year of £926,059 (2025: £848,959). At the year end there was £176,786 due from WLBP (2025: £117,037).

12.	Controlling party

The ultimate controlling party is WAOS Limited who own 75% of the share capital. Their registered office and principal place of business is Gorseland, North Road, Aberystwyth, Ceredigion, SY23 2HE.

13.	Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2026 was unqualified.

The audit report was signed on 23 October 2026 by Alex Riley FCCA (Senior statutory auditor) on behalf of WR Partners.

Page 5