ICELAND FOODS LIMITED

1. ICELAND FOODS LIMITED 2005-02-09 → present
2. ICELAND FOODS PLC 2000-06-30 → 2005-02-09
3. ICELAND FROZEN FOODS PLC 1973-04-10 → 2000-06-30

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Our evaluation of the directors' assessment of the company's ability to continue to adopt the going concern basis of accounting included an assessment of management's forecasts and application of certain downside scenarios, which the engagement team performed. Based on the group's liquid assets at the date of assessment, and future projected operating cash flows, we agree with management's conclusion that the group is a going concern. The directors have, at the time of approving these financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future being a period of not less than 12 months from the date of approval of these financial statements. Thus, the Company continues to adopt the going concern basis in preparing its consolidated financial statements.”

Group structure

1. ICELAND FOODS LIMITED · parent
   1. Ice and Easy Ltd 100% · England and Wales · Non-trading
   2. Iceland Frozen Foods Limited 100% · England and Wales · Dormant
   3. Beech House Deeside Limited 100% · England and Wales · Property management
   4. Iceland Foods Czech SRO 100% · Czechoslovakia · Retail grocers
   5. Iceland Foods Ltd (Gibraltar) 100% · Gibraltar · Dormant
   6. Iceland International Distribution EU Limited 100% · England and Wales · Dormant
   7. The Food Warehouse Limited 100% · England and Wales · Dormant
   8. Newkeeco Limited 72.5% · England and Wales · Wholesale
   9. Iceland Foods India Private Limited 100% · India · Retail grocers
   10. Iceland Manufacturing Limited 100% · England and Wales · Dormant
   11. Iceland International Distribution Limited 10% · England and Wales · Dormant

Significant events

• “Our latest financial results show a loss for the period of £4.7m (2024: profit of £11.0m).”
• “Adjusted EBITDA decreased to £142.1m (2024: £150.9m). This is a reflection of the substantial investments we made during the year in providing better value for our customers, through price investment...”
• “We opened 14 new The Food Warehouse stores during the period, plus one new core Iceland store, and closed 14 core Iceland stores.”
• “Following a 10.4% increase in pay rate to all frontline colleagues in April 2024, all Iceland colleagues are paid above the National Living Wage for their age.”
• “Our FY24 Healthy Food Footprint report showed that 90% of the Iceland own label food we sold during the year was classified as healthy, an increase from 88% in FY23;”
• “Our FY25 Food Waste report, published last month, showed that we had achieved a 38% reduction in food and drink waste since our baseline in FY18, and a 12% reduction from FY24.”
• “Our FY25 Carbon Report, to be published shortly, will confirm this progress, showing a 40.1% reduction in Scope 1 and 2 direct emissions from our operations since our baseline in FY12, and a 2.9% reduction compared with the prior year.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +0.2%

  £4,108,100,000 → £4,117,500,000

• Cash

  -13.5%

  £143,100,000 → £123,800,000

• Net assets

  -0.7%

  £712,000,000 → £707,300,000

• Employees

  +1.8%

  26,352 → 26,830

• Operating profit

  -6.3%

  £88,000,000 → £82,500,000

• Profit before tax

  -105.8%

  £15,600,000 → -£900,000

• Wages

  +6.8%

  £405,800,000 → £433,400,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers