Registered number:
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
COMPANY INFORMATION
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ZWANENBERG FOOD GROUP UK LIMITED
CONTENTS
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ZWANENBERG FOOD GROUP UK LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The principal activity of the Group is the development, manufacture and marketing of food products in the UK and the marketing of products manufactured by group companies in the Netherlands.
BUSINESS REVIEW
The overall trading performance of the Group has shown further improvement in the year as a result of an on-going investment programme which has delivered improvements in operational efficiency. This programme is expected to deliver further progress across the Group in 2021.
The risks facing the company are constantly monitored and assessed.
The Group’s business activities, financial condition and trading results could be affected by any or all of the following risks and uncertainties:
General business conditions and economy
The directors are of the opinion that the principal risks facing the Group relate to the wider economic conditions which influence raw material cost and availability, cost of manufacturing including labour and the demand for its products. The industry continues to encounter difficult economic conditions. The economic revival has been slow to benefit households resulting in low volume growth and continued high levels of competition within the customer base of the Company. Continued increases in input costs have also put pressure on margins. The on-going lack of clarity with regards to the UK’s withdrawal from the European Union is also a cause of uncertainty. Foreign Currency The Group is exposed to foreign currency risk, largely in respect of purchases of raw materials and products from Zwanenberg Food Group in the Netherlands. Food safety and regulatory compliance The Group is subject to food safety and regulatory compliance risk (including Trading Standards and Environmental Health), which could arise from a failure to comply with relevant law, regulation or codes of practice. Failure to comply would result in product recall, fines, cessation of some business activities or a public reprimand. The Group mitigates this risk through the application of stringent internal compliance procedures which are closely monitored at management and board level. In addition to the tight internal controls the Group is also subject to regular external checking and audit. This includes independent compliance audits undertaken against the British Retail Consortium Standard for Food.
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ZWANENBERG FOOD GROUP UK LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Health and safety The factory environment exposes the Group to health and safety risk. The directors are mindful of health and safety regulatory compliance and have in place stringent policies and processes which are appropriately communicated and monitored by a designated senior manager on each site. Innovation and development The industry is highly competitive and there is a risk that failure to keep up to date with latest technology and processes could result in the company becoming uncompetitive. The Group continues to invest in research and development and product innovation.
The Group is part of Zwanenberg Food Group and uses standard Group key performance indicators to measure and compare performance. The key performance indicators are as follows:
• Turnover • Gross Profit Margin • Quality Standards
Broader economic challenges and significant pricing pressures are expected to continue to challenge the Group during 2021 being mostly due to impacts following BREXIT and COVID-19 recovery.
Whilst the Group’s transition through the BREXIT period was well managed and successful the impact on the supply chain and labour are likely to cause impact on the Group. The Group’s management through the global pandemic, COVID-19 has seen largely a positive outcome and minimal impact. The recovery period is expected to bring challenges to the supply chain and labour markets. Nonetheless the Group continues to develop its product ranges based on in depth understanding of consumer insight. This, together with further development of the business improvement programme, will further contribute improved financial performance enabling the company to meet its targets in the coming year.
The company uses a suite of non-financial KPI’s to monitor and measure success on a regular basis. These KPI’s cover areas of the business such as customer service, staff productivity and staff wellbeing.
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ZWANENBERG FOOD GROUP UK LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
The directors of Zwanenberg Food Group UK Ltd have acted in accordance with their duties codified in law, which include their duty to act in the way in which they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, having regard to the stakeholders and matters set out in section 172(1) of the Companies Act 2006.
Stakeholder engagement We have divided our key stakeholders into four key areas and section 172 considerations are embedded in decision making at Board and Senior Management level through the Company. These are: 1. Our colleagues. 2. Our customers and suppliers. 3. Our community and environment. 4. Our shareholders. The values and culture of the Company as well as the management processes define how we work together and with our key stakeholder groups to build meaningful and lasting relationships. There are a number of initiatives that help demonstrate this: Our colleagues We foster a culture of open dialogue with and among colleagues to seek the best solutions to the challenges we face: 1. Quarterly face to face updates for all colleagues. 2. Regular updates on key topics via weekly and monthly newsletters. 3. Training and career development support. 4. Established Joint Consultative Committees with regular meetings that have an open, varied agenda. 5. Setting remuneration in line with market rates. Our customers and suppliers We help to engage with our partners by: 1. Developing and maintaining a deep understanding of our partners. 2. Developing joint business plans for partner development based on propositions that are relevant to the needs of our customers. 3. Building business processes that create an efficient value chain for all parties. 4. Building long term relationships with our partners. Our community and the environment As a business community we seek to support local communities and projects. As a manufacturing business we aim to minimise the impact of our operations on the environment: 1. Supporting local projects and sponsoring events. 2. Working with charities on promoting their cause. 3. Fund raising for a local school. 4. Working with our key energy partner to develop energy efficient process improvements. 5. Working with our partners to develop packaging solutions. 6. Actively targeting waste reduction across all areas of the operation. Our shareholders
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ZWANENBERG FOOD GROUP UK LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Our shareholders continue to be supportive of the Company and its approach to stakeholder engagement. We conduct detailed reviews of all aspects of the business with our shareholders on a quarterly basis.
This report was approved by the board
and signed on its behalf.
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ZWANENBERG FOOD GROUP UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
The directors present their report and the financial statements for the year ended 31 December 2020.
The directors are responsible for preparing the Group strategic report, the Directors' report and the
consolidated
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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.
In preparing these financial statements, the directors are required to:
∙
select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙
make judgments and accounting estimates that are reasonable and prudent;
∙
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the Group's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' reports may differ from legislation in other jurisdictions.
The profit for the year, after taxation, amounted to £
4,319,828
(2019 -
£
1,615,513
)
.
Dividends of £nil (2019: £nil) were paid during the year.
The directors who served during the year were:
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ZWANENBERG FOOD GROUP UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
Business Review, Future developments and Director duty to promote the success of the Company are disclosed in the Strategic Report.
The Group places considerable value on the involvement of its employees and has continued its previous practice of keeping them informed on matters affecting them.
As a non-quoted large company, the mandatory SECR reporting element required for inclusion in the 2020 annual financial report for Zwanenberg Food Group UK Limited to Companies House covers the groups’ total UK electricity, onsite fuel (natural gas & LPG), transport fuel consumption and associated carbon emissions.
The table above shows that Zwanenberg Food Group UK Limited consumed a total of 34,029,578 kWh over the SECR reference period 01/01/2020 to 31/12/2020. The group generated scope 1 (natural gas, LPG & owned/controlled transport = 3773.51 tCO2e), Scope 2 (electricity = 3,139.27 tCO2e) and Scope 3 (299.86 tCO2e) emissions totalling 7,213 tonnes CO2e during the period under review. Zwanenberg’s emissions intensity ratio for the SECR reference period was 0.48 tonnes CO2e per tonne of product.
Data used to compile this report have been sourced from:
• Zwanenberg Food Group UK Limited; - Natural gas data for Taste Original Corby, Rea Valley Minsterley & Malton Foods sites; - Electricity data for Taste Original Corby, Rea Valley Minsterley & Malton Foods sites; - LPG data for Taste Original Corby site; - Groups’ transport data for company cars & grey fleet. • 2020/21 UK Government emission factors for greenhouse gas reporting (DEFRA).
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ZWANENBERG FOOD GROUP UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
During the SECR reporting period under review, the Company had to contend with Covid-19 and its subsequent impact on global economy, however, the following projects underline the groups’ efforts to reduce energy demand and associated emissions on its UK sites.
In 2020 Zwanenberg Foods Group UK Ltd continued to implement energy saving schemes across its sites. These include: 1. The replacement of inefficient lighting with more energy efficient LED lamps; 2. Implemented change in company car policy by purchasing petrol hybrid car models and then install charging points at 2 of the 3 sites; 3. Implemented a boiler upgrade at Rea Valley from oil fired boilers to natural gas boilers and an upgrade from coal fired boilers to gas boilers at the Malton site. The Malton Foods site have also installed boiler controls to monitor and optimise boiler energy performance; 4. There has been detailed focus on energy usage at the Rea Valley (Minsterley) refrigeration plant, which equates to circa 70% of site’s total energy spend. Site installed specialised energy monitoring & management equipment within their refrigeration plant for energy visibility and thereby support the implementation of baseload management measures within the refrigeration process. 5. Energy efficiency and conservation have been major influencers when making procurement decisions; for example, replacing motor driven assets across sites (e.g., air compressors, pumps); 6. At Rea Valley, Taste Original & Malton Foods, energy usage has been profiled across site to understand energy use and performance, focussing on energy reduction. No “green” electricity tariffs or other market-based instruments were used in 2020 in the form of certified or uncertified carbon offsets. These may be considered in the future. However, the focus in on delivering true emission reduction. Efforts to conserve energy and tackle emissions will progressively reduce the Company’s exposure to energy and carbon market price volatility.
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ZWANENBERG FOOD GROUP UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
There have been no significant events affecting the Group since the year end.
The auditors, WR Partners, will be proposed for reappointment in accordance with
section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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ZWANENBERG FOOD GROUP UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZWANENBERG FOOD GROUP UK LIMITED
We have audited the financial statements of Zwanenberg Food Group UK Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2020, which comprise the Group Statement of comprehensive income, the Group and Company Balance sheets, the Group Statement of cash flows, the Group and Company Statement of changes in equity
and the related notes, 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).
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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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.
In auditing the financial statements, we have concluded that the directors' 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 Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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.
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ZWANENBERG FOOD GROUP UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZWANENBERG FOOD GROUP UK LIMITED (CONTINUED)
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 Auditors' report thereon. 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.
In our opinion, based on the work undertaken in the course of the audit:
∙
the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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ZWANENBERG FOOD GROUP UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZWANENBERG FOOD GROUP UK LIMITED (CONTINUED)
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 Auditors' 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 Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Group and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, Employment Law, Health and Safety Regulations, the EU General Data Protection Regulation (GDPR) and compliance with British Retail Consortium (BRC) regulations. We understood how the Group are complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. Where relevant we have reviewed direct correspondence with regulatory bodies to confirm compliance. We have reviewed board meeting minutes to confirm there were no material instances of non-compliance. We assessed the susceptibility of the Group's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on our understanding our procedures involved enquiries of management, control testing across key accounting cycles and review of the systems in place, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at:
www.frc.org.uk/auditorsresponsibilities
. This description forms part of our Auditors' report.
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ZWANENBERG FOOD GROUP UK LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ZWANENBERG FOOD GROUP UK LIMITED (CONTINUED)
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 Auditors' 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.
for and on behalf of
Chartered Accountants
Statutory Auditors
Belmont House
Shrewsbury Business Park
Shropshire
SY2 6LG
Date:
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ZWANENBERG FOOD GROUP UK LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
REGISTERED NUMBER:
01032611
CONSOLIDATED BALANCE SHEET
AS AT
31 DECEMBER 2020
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 18 to 37 form part of these financial statements.
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ZWANENBERG FOOD GROUP UK LIMITED
REGISTERED NUMBER:
01032611
COMPANY BALANCE SHEET
AS AT
31 DECEMBER 2020
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 18 to 37 form part of these financial statements.
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ZWANENBERG FOOD GROUP UK LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 DECEMBER 2020
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
The principal activities are the production and manufacture of food and food production. The Company operates in England and Wales and is a private company limited by shares and is incorporated and domiciled in England. The address of its registered office is noted on the company information page.
2.
ACCOUNTING POLICIES
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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of Group and its own subsidiaries ("the Group") as they formed a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases. In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2014.
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
ACCOUNTING POLICIES (CONTINUED)
The Directors have assessed the potential impact on the future operations of the Group with regard to the Covid-19 outbreak. They have taken proactive steps to manage the financial consequences. The position has also been aided by support measures announced by the Government to help ease the impact of Coronavirus outbreak.
The Group is considered to be well positioned given the current environment with no impact on the going concern basis of the financial statements.
Functional and presentation currency
Transactions and balances
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
ACCOUNTING POLICIES (CONTINUED)
Grants of a revenue nature are recognised in the Consolidated statement of comprehensive income in the same period as the related expenditure.
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
ACCOUNTING POLICIES (CONTINUED)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Profit and loss account over its useful economic life.
The estimated useful lives range as follows:
Trademarks
Trademarks are initially recognised at cost. After recognition, under the cost model, Trademarks are measured at cost less any accumulated amortisation and any accumulated impairment losses.
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
2.
ACCOUNTING POLICIES (CONTINUED)
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 and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year.
The whole of the turnover is attributable from the sale of food products.
Analysis of turnover by country of destination:
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
11.
TAXATION (CONTINUED)
There were no factors that may affect future tax charges.
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
14.
TANGIBLE FIXED ASSETS (CONTINUED)
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
The land, buildings and intellectual property of Zwanenberg Food Group UK and Malton Foods Limited are pledged as security for the ultimate parent company, Meatpoint B.V as part of their facilities agreements with ABN Amro Commercial Finance N.V and Cooperative Rabobank U.A. These facilities are availible to the group and are therefore utilised as required by Zwanenberg Food Group UK Limited and Malton Foods Limited.
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £486,631 (2019 - £421,104). Contributions totalling £27,984 (2019 - £78,785) were payable to the fund at the balance sheet date and are included in creditors.
26.
OTHER FINANCIAL COMMITMENTS
The assets of Zwanenberg Food Group UK Limited over which the relevant facilities are secured are:
A first mortgage over real estate; and a deed of pledge with respect to receivables, machinery, inventory, stock and intellectual property.
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ZWANENBERG FOOD GROUP UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Meatpoint B.V, which is incorporated with limited liability in the Netherlands and owns all the share capital of the company, is owned by the personal holding companies of Mr A M van der Laan's adult children, Mr A Th M van der Laan and his immediate family, Mrs J C M Stevens van der Laan and two other adult members of his family. Mr A M van der Laan continues as a director of the company and its subsidiaries except for Marston Food Marketing Limited.
The registered office of Meatpoint B.V. is Twentepoort Oost 5, 7609 RG ALMELO, Netherlands.
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