BAKKAVOR FINANCE (2) LIMITED

• ⚠

  Material uncertainty over going concern

  The Directors of Bakkavor Group plc consider that as a result of the proposed transaction there is a material uncertainty around Greencore's refinancing of the Group's existing bank facilities as a result of change in control and the level of funding that may be available to the existing Group's operations if the sale to Greencore completes. The current Directors will not have control over the Group if the sale completes and they do not currently have full knowledge of the new ultimate parent undertaking's future funding plans in relation to the Group and Company. Therefore, the change of control position indicates the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.

1. BAKKAVOR FINANCE (2) LIMITED 2019-01-11 → present
2. BAKKAVOR FINANCE (2) PLC 2011-02-04 → 2019-01-11
3. BAKKAVOR FINANCE (2) LIMITED 2011-01-21 → 2011-02-04

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 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors of Bakkavor Group plc consider that as a result of the proposed transaction there is a material uncertainty around Greencore's refinancing of the Group's existing bank facilities as a result of change in control and the level of funding that may be available to the existing Group's operations if the sale to Greencore completes. The current Directors will not have control over the Group if the sale completes and they do not currently have full knowledge of the new ultimate parent undertaking's future funding plans in relation to the Group and Company. Therefore, the change of control position indicates the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.”

Group structure

1. BAKKAVOR FINANCE (2) LIMITED · parent
   1. Bakkavor (London) Limited 100% · United Kingdom · Dormant non-trading company
   2. Bakkavor Finance Limited 100% · United Kingdom · Dormant non-trading company
   3. Bakkavor European Marketing BV 100% · Netherlands · Holding company
   4. NV Bakkavor Belgium BV 100% · Belgium · Non-trading

Significant events

• “On 7 July 2025 the shareholders of Bakkavor Group plc approved the terms of the recommended cash and shares offer by Greencore Group plc ("Greencore") to acquire the entire issued and to be issued share capital of Bakkavor Group plc.”
• “On 25 July 2024, the Company refinanced its debt facilities with £350,000,000 of new facilities, comprising a £200,000,000 revolving credit facility ("RCF") and a £150,000,000 Term Loan, maturing in July 2028 with the option of two additional one-year extensions.”
• “On 24 December 2024, a business transfer agreement was signed for the sale of the trade and assets of Bakkavor Hong Kong Limited, an indirect subsidiary of the Company. The sale amount was £0.1 (HK$1). The sale was completed on 14 March 2025.”
• “On 28 April 2025, Bakkavor Group plc entered into a binding agreement to sell its China operations, with the sale of the entire issued share capital of Bakkavor China Holdings Limited to Lihe Xing (Qingdao) Food Technology Co. Ltd., ... The cash consideration is RMB c.500m (c.£50m) on a cash and debt-free basis and is expected to complete in the second half of 2025, subject to regulatory approval.”

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

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

4

last 12 months

Officers resigned

2

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  +152.8%

  £772,000 → £1,952,000

• Net assets

  +5.5%

  £362,466,000 → £382,309,000

• Employees

  0%

  2 → 2

• Operating profit

  -2,263.2%

  -£19,000 → -£449,000

• Profit before tax

  -14.6%

  £62,068,000 → £53,013,000

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