REGISTERED NUMBER: 06047847 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

BLAKES MEATS 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:

06047847 (England and Wales)

AUDITORS:

Watson Associates (Audit Services) Ltd

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Intangible assets

4

41,062

59,312

Tangible assets

5

175,649

164,048

216,711

223,360

CURRENT ASSETS

Stocks

141,166

83,016

Debtors

6

1,361,836

1,712,133

Cash at bank and in hand

77,472

96,160

1,580,474

1,891,309

CREDITORS

Amounts falling due within one year

7

(844,391

)

(1,187,800

)

NET CURRENT ASSETS

736,083

703,509

TOTAL ASSETS LESS CURRENT LIABILITIES

952,794

926,869

CREDITORS

Amounts falling due after more than one year

8

(38,856

)

(88,281

)

PROVISIONS FOR LIABILITIES

(43,912

)

(41,012

)

NET ASSETS

870,026

797,576

CAPITAL AND RESERVES

Called up share capital

100

100

Share premium

182,400

182,400

Retained earnings

687,526

615,076

870,026

797,576

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

Blakes Meats 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 in the ordinary course of the Company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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 is amortised through the income statement in equal instalments over its assessed useful life of 20 years. Goodwill is assessed for impairment annually and any impairment is charged to the income statement. Reversals of impairment are recognised when the reasons for the impairment no longer apply.

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 stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price , costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs.

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

Plant and machinery

-

25% Reducing balance

Fixtures and fittings

-

25% Reducing balance

Motor vehicles

-

25% Reducing balance

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 the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.

Financial instruments

The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2024 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 March 2024

and 28 February 2025

365,000

AMORTISATION

At 1 March 2024

305,688

Charge for year

18,250

At 28 February 2025

323,938

NET BOOK VALUE

At 28 February 2025

41,062

At 29 February 2024

59,312

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 March 2024

-

392,037

392,037

Additions

5,515

55,695

61,210

At 28 February 2025

5,515

447,732

453,247

DEPRECIATION

At 1 March 2024

-

227,989

227,989

Charge for year

-

49,609

49,609

At 28 February 2025

-

277,598

277,598

NET BOOK VALUE

At 28 February 2025

5,515

170,134

175,649

At 29 February 2024

-

164,048

164,048

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

85,995

DEPRECIATION

At 1 March 2024

35,533

Charge for year

12,616

At 28 February 2025

48,149

NET BOOK VALUE

At 28 February 2025

37,846

At 29 February 2024

50,462

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

394,409

587,767

Amounts owed by group undertakings

924,075

939,075

Other debtors

43,352

185,291

1,361,836

1,712,133

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

50,000

50,000

Hire purchase contracts (see note 9)

10,639

11,268

Trade creditors

73,728

129,249

Amounts owed to group undertakings

595,983

759,887

Taxation and social security

53,545

21,063

Other creditors

60,496

216,333

844,391

1,187,800

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

12,500

62,500

Hire purchase contracts (see note 9)

26,356

25,781

38,856

88,281

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

10,639

11,268

Between one and five years

26,356

25,781

36,995

37,049

Non-cancellable

operating leases

2025

2024

£

£

Within one year

16,000

16,000

Between one and five years

-

16,000

16,000

32,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

62,500

112,500

An unlimited debenture incorporating fixed and floating charges over all the property or undertaking of Blakes Meats Ltd dated 10 June 2020.

Fixed and floating charges over all the property or undertaking of Blakes Meats Ltd dated 9 January 2017.

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.	RELATED PARTY DISCLOSURES

During the year the company purchased services of £10,460 (2024 - £11,892) from a company over which the ultimate controlling party has significant influence.