REGISTERED NUMBER: 01338579 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

RP MEATS WHOLESALE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G J Thatcher

REGISTERED OFFICE:

Basepoint Business Centre

Little High Street

Shoreham-By-Sea

West Sussex

BN43 5EG

REGISTERED NUMBER:

01338579 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

305,873

338,796

305,873

338,796

CURRENT ASSETS

Stocks

509,670

587,381

Debtors

6

3,979,324

4,148,488

Cash at bank and in hand

89,387

351,038

4,578,381

5,086,907

CREDITORS

Amounts falling due within one year

7

(2,623,003

)

(3,118,806

)

NET CURRENT ASSETS

1,955,378

1,968,101

TOTAL ASSETS LESS CURRENT LIABILITIES

2,261,251

2,306,897

CREDITORS

Amounts falling due after more than one year

8

(326,250

)

(531,470

)

PROVISIONS FOR LIABILITIES

(61,671

)

(65,600

)

NET ASSETS

1,873,330

1,709,827

CAPITAL AND RESERVES

Called up share capital

23,000

23,000

Retained earnings

1,850,330

1,686,827

1,873,330

1,709,827

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2025 and were signed by:

G J Thatcher - Director

1.	STATUTORY INFORMATION

RP Meats Wholesale 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold - 33.33% straight line

Leasehold - over the life of the lease

Plant & Machinery - 20% on cost and 10% reducing balance

Motor Vehicles - 20% on reducing balance

Fixtures & Fittings - 20% straight line

Computer Equipment - 25% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2024 - 31 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

4,000

AMORTISATION

At 1 March 2024

and 28 February 2025

4,000

NET BOOK VALUE

At 28 February 2025

-

At 29 February 2024

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

160,292

726,304

886,596

Additions

6,267

63,216

69,483

At 28 February 2025

166,559

789,520

956,079

DEPRECIATION

At 1 March 2024

118,478

429,322

547,800

Charge for year

10,626

91,780

102,406

At 28 February 2025

129,104

521,102

650,206

NET BOOK VALUE

At 28 February 2025

37,455

268,418

305,873

At 29 February 2024

41,814

296,982

338,796

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 March 2024

and 28 February 2025

216,645

DEPRECIATION

At 1 March 2024

79,738

Charge for year

38,422

At 28 February 2025

118,160

NET BOOK VALUE

At 28 February 2025

98,485

At 29 February 2024

136,907

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,338,845

1,402,352

Amounts owed by group undertakings

2,542,862

2,602,457

Other debtors

97,617

143,679

3,979,324

4,148,488

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

153,136

151,860

Hire purchase contracts (see note 9)

48,724

42,332

Trade creditors

1,635,085

1,898,112

Taxation and social security

52,967

24,342

Other creditors

733,091

1,002,160

2,623,003

3,118,806

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

245,006

401,502

Hire purchase contracts (see note 9)

81,244

129,968

326,250

531,470

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

48,724

42,332

Between one and five years

81,244

129,968

129,968

172,300

Non-cancellable

operating leases

2025

2024

£

£

Within one year

66,250

66,250

Between one and five years

-

66,250

66,250

132,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

398,142

553,362

An unlimited debenture incorporating fixed and floating charges over all the property or undertaking of RP Meats Wholesale Ltd dated 25 September 2020.

Fixed and floating charges over all the property or undertaking of RP Meats Wholesale Ltd dated 5 January 2016.

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Charles Males (Senior Statutory Auditor)

for and on behalf of Watson Associates (Audit Services) Ltd

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

2025

2024

£

£

G J Thatcher

Balance outstanding at start of year

-

(16,000

)

Amounts repaid

-

16,000

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

13.	RELATED PARTY DISCLOSURES

During the year the company purchased services of £12,365 (2024 - £10,884) from a company over which the ultimate controlling party has significant influence.