KELLOGG TALBOT, LLC

• ⚠

  Material uncertainty over going concern

  As the impact of the Mars Transaction on the future operations of the Company is not known at the date of approval of these financial statements, this indicates the existence of a material uncertainty that may cast doubt about the Company's ability to continue as a going concern and therefore that the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. Notwithstanding this, the directors are satisfied that the going concern basis remains appropriate for the preparation of the financial statements.

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)

Audit opinion

Unaudited (audit-exempt)

Going concern

Material uncertainty disclosed

“As the impact of the Mars Transaction on the future operations of the Company is not known at the date of approval of these financial statements, this indicates the existence of a material uncertainty that may cast doubt about the Company's ability to continue as a going concern and therefore that the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. Notwithstanding this, the directors are satisfied that the going concern basis remains appropriate for the preparation of the financial statements.”

Significant events

• “On 13 August 2024, Mars, Incorporated and Kellanova announced that they have entered into a definitive agreement under which an affiliate of Mars, Incorporated has agreed to acquire Kellanova for $83.50 per share in cash. This agreement has been unanimously approved by the Board of Directors of Kellanova. The transaction is subject to customary closing conditions, including the receipt of required regulatory approvals, and is expected to close within the first half of 2025. The Company, as part of the Kellanova group, will form part of this overall transaction. There is no financial impact on the Company as at the date of approval of these financial statements.”
• “The Company is within the scope of the OECD Pillar Two model rules. Pillar Two legislation was enacted in the United Kingdom in July 2023, the jurisdiction in which the Company is incorporated, and will come into effect from 1 January 2024. Since the Pillar Two legislation was not effective at the reporting date, the Company has no related current tax exposure. The Company applies the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to FRS102 Section 29.12A issued on 11 July 2023. Companies could be liable to pay a top-up tax where the GloBE effective tax rate per their jurisdiction is less than 15%. The Company is not expected to be exposed to paying Pillar Two income taxes in relation to the United Kingdom.”

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

• Turnover

  +29.2%

  £329,000 → £425,000

• Cash

  +7%

  £1,710,000 → £1,829,000

• Net assets

  -2.9%

  £1,787,000 → £1,736,000

• Employees

  0%

  3 → 3

• Operating profit

  -366.7%

  £15,000 → -£40,000

• Profit before tax

  +25.5%

  £47,000 → £59,000

• Wages

  +21.3%

  £225,000 → £273,000

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