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REGISTERED NUMBER: 00494698 (England and Wales)

| R. HARDY (VEGETABLES) LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 JANUARY 2025 |

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

| Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 3 |  | to |  | 7

R. HARDY (VEGETABLES) LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 JANUARY 2025

| DIRECTORS: | C R Hardy

| R Hardy

| Mrs M M Hardy

| Miss L Harrison

| SECRETARY: | R Hardy

| REGISTERED OFFICE: | Willoughby House

| Fishtoft

| Boston

| Lincolnshire

| PE21 9SA

| REGISTERED NUMBER: | 00494698 (England and Wales)

| ACCOUNTANTS: | Duncan & Toplis Limited

| 5 Resolution Close

| Endeavour Park

| Boston

| Lincolnshire

| PE21 7TT

| SOLICITORS: | Roythornes

| Enterprise Way

| Pinchbeck

| Spalding

| Lincolnshire

| PE11 3YR

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

STATEMENT OF FINANCIAL POSITION

31 JANUARY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 1,565,391 |  | 1,716,424 |  |

Investments | 6 | 1,527,630 |  | 657,737 |  |

Investment property | 7 | 260,000 |  | 260,000 |  |

3,353,021 |  | 2,634,161 |  |

CURRENT ASSETS

Valuation | 2,371,500 |  | 1,328,852 |  |

Debtors | 8 | 634,668 |  | 1,043,121 |  |

Cash at bank and in hand | 726,442 |  | 1,599,982 |  |

3,732,610 |  | 3,971,955 |  |

CREDITORS

Amounts falling due within one year | 9 | 1,795,910 |  | 2,249,165 |  |

NET CURRENT ASSETS | 1,936,700 |  | 1,722,790 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,289,721 |  | 4,356,951 |  |

PROVISIONS FOR LIABILITIES | 375,012 |  | 402,435 |  |

NET ASSETS | 4,914,709 |  | 3,954,516 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 1,400 |  | 1,400 |  |

Other reserves | 12 | 68,925 |  | - |  |

Retained earnings | 12 | 4,844,384 |  | 3,953,116 |  |

SHAREHOLDERS' FUNDS | 4,914,709 |  | 3,954,516 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:

R Hardy - Director

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

1. | STATUTORY INFORMATION

| R. Hardy (Vegetables) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover represents net accrued invoiced sales of goods, excluding value added tax.

| Sales of crops are recognised on despatch.

| Intangible assets

| Basic Payment Scheme Entitlements have been capitalised in the accounts at cost and are being amortised on a straight line basis until December 2019.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery etc | - | 25% on reducing balance and at variable rates on reducing balance

| Tangible fixed assets are measured at cost less accumulated depreciation.

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Valuation

| Stock represents the farm valuation, which has been prepared by the directors at the lower of cost and estimated selling price less costs to sell.

| Financial instruments

| The company has chosen to adopt the FRS 102A in respect of financial instruments.

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

| Investments

| Unquoted fixed asset investments are stated at cost less provision for any permanent diminution in value. Fixed asset investments that can be reliably measured at market value are measured at their fair value.

| Basic payment scheme

| The basic payment scheme is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 10 (2024 - 11 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 February 2024

| and 31 January 2025 | 104,158 |  |

| AMORTISATION

| At 1 February 2024

| and 31 January 2025 | 104,158 |  |

| NET BOOK VALUE

| At 31 January 2025 | - |  |

| At 31 January 2024 | - |  |

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 February 2024 | 6,336,315 |  |

| Additions | 129,652 |  |

| Disposals | (192,496 | ) |

| At 31 January 2025 | 6,273,471 |  |

| DEPRECIATION

| At 1 February 2024 | 4,619,891 |  |

| Charge for year | 264,841 |  |

| Eliminated on disposal | (176,652 | ) |

| At 31 January 2025 | 4,708,080 |  |

| NET BOOK VALUE

| At 31 January 2025 | 1,565,391 |  |

| At 31 January 2024 | 1,716,424 |  |

6. | FIXED ASSET INVESTMENTS

| Other

| investments

£ |

| COST OR VALUATION

| At 1 February 2024 | 657,737 |  |

| Additions | 846,576 |  |

| Revaluations | 23,317 |  |

| At 31 January 2025 | 1,527,630 |  |

| NET BOOK VALUE

| At 31 January 2025 | 1,527,630 |  |

| At 31 January 2024 | 657,737 |  |

| Cost or valuation at 31 January 2025 is represented by:

| Other

| investments

£ |

| Valuation in 2025 | 1,527,630 |  |

| If fixed asset investments had not been revalued they would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 1,504,313 |  | 657,737 |  |

| Fixed asset investments were valued on an open market basis on 31 January 2025 by the investment manager .

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

7. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 February 2024

| and 31 January 2025 | 260,000 |  |

| NET BOOK VALUE

| At 31 January 2025 | 260,000 |  |

| At 31 January 2024 | 260,000 |  |

| Fair value at 31 January 2025 is represented by:

£ |

| Valuation in 2020 | 260,000 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 196,498 |  | 196,498 |  |

| Investment property was valued on an open market basis on 21 January 2020 by Fairweather Estate Agents .

| The directors have reviewed the valuation at the year end and consider it to be materially correct.

8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 240,110 |  | 447,157 |  |

| Directors' loan accounts | - |  | 31,883 |  |

| VAT | 42,302 |  | 43,778 |  |

| Prepayments and accrued income | 352,256 |  | 520,303 |  |

634,668 |  | 1,043,121 |  |

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Hire purchase contracts | - |  | 37,328 |  |

| Trade creditors | 296,305 |  | 319,925 |  |

| Amounts owed to group undertakings | 613,064 |  | 1,172,564 |  |

| Tax | 354,966 |  | 154,779 |  |

| Social security and other taxes | 36,473 |  | 33,450 |  |

| Other creditors | 462,033 |  | 531,119 |  |

| Directors' loan accounts | 33,069 |  | - |  |

1,795,910 |  | 2,249,165 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | - |  | 37,328 |  |

| Hire purchase liabilities are secured against the assets to which they relate.

R. HARDY (VEGETABLES) LIMITED (REGISTERED NUMBER: 00494698)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 JANUARY 2025

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 1,400 | Ordinary | 1 | 1,400 |  | 1,400 |  |

12. | RESERVES

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1 February 2024 | 3,953,116 |  | - |  | 3,953,116 |  |

| Profit for the year | 960,193 |  | - |  | 960,193 |  |

| Transfer | (68,925 | ) | 68,925 |  | - |  |

| At 31 January 2025 | 4,844,384 |  | 68,925 |  | 4,913,309 |  |

| Other reserves relate to unrealised gains, net of deferred tax, on fixed asset investments and investment property.