DENHOLM SEAFOODS LIMITED

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

Consolidated group

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Management has carried out detailed reforecasts for a period of at least 12 months from date of signing (based on a range of possible outcomes) taking account of the impact of increased inflation and the anticipated efficiencies from the redevelopment of the Peterhead facilities that are expected to reduce labour, packaging and energy costs whilst increasing daily production and cold store capacities. Having been provided with this analysis, the directors, having considered these forecasts, cash resources, facilities, and projected costs (taking account of mitigation available) have concluded that there is no material uncertainty arising in relation to going concern and that the Group has a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future and to meet its obligations as they fall due. The current loan facility with the ultimate parent company is due for renewal on 31 December 2026, and it is anticipated that this loan facility will be extended at that point. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.”

Group structure

1. DENHOLM SEAFOODS LIMITED · parent
   1. Alisrose Limited 28.49% · Scotland
   2. Trinity Seafoods Limited 33.33% · Scotland

Significant events

• “Given the operational challenges caused by increased inflation and difficult market conditions causing fluctuating demand for our key products, the directors expect 2025 to be a difficult year.”
• “In April 2022, the Group committed to a circa £28m redevelopment of their Peterhead facilities to increase cold storage capacity and daily production capacity while at the same time reducing labour, packaging and energy costs. Work on this exciting new development started in late 2022, the new cold store has been operational since January 2024, and is due to be fully commissioned in June 2025. The new production system became operational in August 2024 and further efficiencies are expected during 2025.”
• “The Group and Company have contracted capital expenditure at 31 December 2024 of £2,772,459 (2023 - £7,765,211) in relation to the development of the Peterhead production facilities.”
• “The Group has received grants totalling £6,171,497 in the current and prior years. These grants are potentially repayable in full, or in part, if certain conditions of the grant awards are breached. The directors consider it to be highly unlikely that any breaches will occur.”
• “The Group is currently in discussions with some suppliers relating to the status of certain contracts to deliver products and services. Based on the information available to the Directors, they do not believe that the outcome of these discussions will result in any material adverse change in the Group's financial position.”

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

Filings

2

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

  +4.6%

  £50,906,203 → £53,262,904

• Cash

  +7%

  £3,738,470 → £4,000,288

• Net assets

  -27.3%

  £17,935,452 → £13,031,870

• Employees

  -3.5%

  86 → 83

• Operating profit

  -837%

  -£387,570 → -£3,631,644

• Profit before tax

  -222.1%

  -£2,054,905 → -£6,618,677

• Wages

  +2.3%

  £3,605,746 → £3,689,725

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