A HUGHES AND SON(SKELLINGTHORPE)LIMITEDActive

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face. PRINCIPAL ACTIVITY A Hughes and Son (Skellingthorpe) Limited is a wholly owned subsidiary of Lincoln Protein Holdings Ltd. The group is engaged in the rendering of material from the food processing and agricultural sectors into meat and bonemeal and tallow. Its revenue is derived from the collection of material and the sale of tallow and meat and bonemeal. BUSINESS REVIEW The company has reported a significant reduction in revenue to £28,406,603 (2023 - £50,247,622). Operating profit amounted to £254,864 (2023 - £268,923). The results reflect reduced volumes processed through the group's rendering facilities, with tightening margins. During the period shareholder's funds increased to £2,665,910 (2023 - £2,490,287). The company's key performance indicators are production costs per tonne and these are principally driven by labour, energy and transport costs, relative to throughput. The company's aim is to further build its supply base and improve performance through increased throughput and operational performance. RISK MANAGEMENT POLICIES Energy risk The conflict in Ukraine continues to evolve as military activity proceeds and sanctions imposed on Russia. The economic ramifications have lead

As described in the company's latest filed accounts.