COMPANY REGISTRATION NUMBER: 9734954

YEAR ENDED 31 DECEMBER 2024

YEAR ENDED 31 DECEMBER 2024

We aim to present a balanced and comprehensive review of the development and performance of the group during the year and its position at the year end. Our review is consistent with the size and nature of the group and is written in the context of the risks and uncertainties we face. Principal activity Lincoln Protein Holdings Ltd is the holding company for the group. The group consolidated accounts includes the results of Lincoln Proteins Limited, A Hughes & Son (Skellingthorpe) Limited, the Inztec companies and the Dundas companies. On 26 July 2024 the group acquired the remaining 50% of the ordinary share capital of Dundas Rendering Limited. The group is engaged in the rendering of material from the food processing and agricultural sectors into tallow and MBM (meat and bonemeal). Revenue is derived from the collection of material and the sale of tallow and MBM. Business review The group has reported an increase in revenue to £49,352,165 (2023 - £41,135,113). The increase in operating profit to £2,040,131 (2023 - £1,559,453) follows the consolidation of the Dundas companies for 5 months. During the period shareholder's funds increased to £25,605,044 (2023 - £24,976,709). Capital expenditure during the period was £2,132,984 representing continued expansion and improvement of the group's production facilities. The group's key performance indicators are production costs per tonne and these are principally driven by labour, energy and transport costs relative to throughput. The group's aim is to further build its supply base and improve performance through increased throughput and operational performance. Section 172 statement The directors are aware of their duty under Section 172 of the Companies Act 2006. Section 172 of that act requires directors of the company to act in the way which they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members and key stakeholders. When making key decisions for the company the directors have considered the impact of those decisions on the company's key stakeholders and also on wider society. The directors engage with key stakeholders when making decisions and formulating strategy. The directors also consider the environment and society in general in their decision making process. A core value is long-term thinking and building lasting relationships with suppliers, customers, government agencies and employees. In addition the directors recognise its employees are a critical success factor for the company and seek to assist employees to succeed through a positive culture of development and engagement. Risk management policies The group faces a number of risks and the directors continue to mitigate these as far as possible. A summary of the key risks are as follows:- Energy risk- the conflict in Ukraine continues to evolve as military activity proceeds and sanctions imposed on Russia. The economic ramifications have lead to increases in energy prices, rising inflation and interest rates and fluctuations in foreign exchange rates. The group manages energy costs through forward contracts to mitigate against sudden increases in price for electricity and gas and explores options around alternative energy sources. Market risk- the price of both meat and bonemeal and tallow can be subject to volatility. To mitigate this the group monitors market conditions so that its input costs respond as far as possible to changes in market prices. Competitor risk- the group operates in a highly competitive sector where maintaining and expanding volumes rendered is crucial to the development of the group. In order to mitigate this risk the group focuses on building lasting relationships with material suppliers and in seeking additional opportunities to further expand the supplier base. Credit risk- the group seeks to manage its credit risk by dealing with established customers or otherwise checking the credit-worthiness of new customers, establishing clear contractual relationships with those customers and by identifying and addressing any credit issues arising in a timely manner. Environmental risk- the group's activities are in an environmentally sensitive sector. To mitigate this risk the group ensures that strict operational procedures are followed and that equipment is maintained to a high standard. Inflation risk - the group is exposed to the impact of inflation on its costs and every effort is made to mitigate the negative effect of this on performance.

This report was approved by the board of directors on 23 September 2025 and signed on behalf of the board by:

YEAR ENDED 31 DECEMBER 2024

The directors present their report and the financial statements of the group for the year ended 31 December 2024 .

Directors

The directors who served the company during the year were as follows:

Dividends

The directors do not recommend the payment of a dividend.

Greenhouse gas emissions and energy consumption

Information not included

The Group is not required to complete the Streamlined Energy and Carbon Reporting as no company is large in its own right and this company consumed less than 40,000kWh of energy in the UK during the period.

Disclosure of information in the strategic report

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information.

This report was approved by the board of directors on 23 September 2025 and signed on behalf of the board by:

YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of Lincoln Protein Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group's and of the parent company's affairs as at 31 December 2024 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was that we identified the material laws and regulations applicable to the group through discussions with management, and from our commercial knowledge and experience of the group. We then assessed the extent of compliance with these laws and regulations through making enquiries of management. We assessed the susceptibility of the group's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls we tested journal entries to identify unusual transactions, we assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and we investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to agreeing financial statement disclosures to underlying supporting documentation and reviewing correspondence with relevant regulators. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. Use of our report

This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

24 September 2025

YEAR ENDED 31 DECEMBER 2024

All the activities of the group are from continuing operations.

31 December 2024

Fixed assets

Current assets

Provisions

Capital and reserves

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

Company registration number: 9734954

31 December 2024

Fixed assets

Current assets

Capital and reserves

The loss for the financial year of the parent company was £ 147,514 (2023: £ 123,234 ).

These financial statements were approved by the board of directors and authorised for issue on 23 September 2025 , and are signed on behalf of the board by:

Company registration number: 9734954

YEAR ENDED 31 DECEMBER 2024

YEAR ENDED 31 DECEMBER 2024

YEAR ENDED 31 DECEMBER 2024

Cash flows from operating activities

Cash flows from investing activities

Cash flows from financing activities

YEAR ENDED 31 DECEMBER 2024

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Windsor House, A1 Business Park, Long Bennington, Notts, NG23 5JR.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis. In making this assessment, the directors have considered the group's trading and cash flow forecasts for the period of at least 12 months from the date of approval of these financial statements. While these forecasts show a requirement for continued financial support, the directors have received an undertaking of support from the shareholders. The shareholders have confirmed their intention to continue to make available such funds as are necessary to enable the group to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. Accordingly the financial statements have been prepared on a going concern basis. Disclosure exemptions No disclosure exemptions are available to the Group. Consolidation The financial statements consolidate the financial statements of the Group and all of its subsidiary undertakings. The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. There have been no judgements that management has made in the process of applying the entity's accounting policies that have made a significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: - Stocks- Stocks are required to be stated at the lower of cost and net realisable value. Due to the difficulty in arriving at the production cost of tallow and MBM (meat and bonemeal), estimated cost is arrived at by reducing the estimated sales value by the production margins. This method involves judgement in determining appropriate sales price and margin. - Useful economic lives of tangible assets- The annual charge for depreciation charge for tangible assets is sensitive to changes in the useful economic lives of the assets. The useful economic lives are re-assessed annually and obsolete items written off accordingly based upon the physical condition of the assets. See note 14 for the carrying amount of the property plant and equipment, and the associated accounting policy for the useful economic lives for each class of asset. - Fixed Assets- The group has capitalised payroll costs on the construction of certain assets. These costs are allocated on a timesheet basis. - Amortisation- The annual charge for amortisation of goodwill is in line with generally accepted accounting principles. The Directors review the rate of amortisation based upon latest available information and industry trends. This is re-assessed annually. See note 13 for the carrying amount of the goodwill. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Operating leases Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5-10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. Tangible assets Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Land and buildings	-	5-10% straight line or over the term of the lease
	Plant and machinery	-	various rates over 3-20 years
	Motor vehicles	-	15-25% reducing balance

Included within land and buildings are buildings constructed on rented land which are depreciated over the term of the lease. Assets in the course of construction are included at cost. Depreciation on these assets is not charged until they are brought into use. Investments Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Investments in joint ventures Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stocks of tallow and MBM (meat and bonemeal) are valued using the retail method to approximate cost.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

The group turnover is attributable to the activities detailed in the Strategic Report.

5. Other operating income

6. Operating profit/(loss)

Operating profit or loss is stated after charging:

Included in the share of loss of joint ventures is amortisation of £294,187 (2023 - £504,320).

7. Auditor's remuneration

Fees payable to the company's auditor and its associates for other services:

8. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

The aggregate payroll costs incurred during the year, relating to the above, were:

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

10. Other interest receivable and similar income

11. Interest payable and similar expenses

12. Tax on loss

Major components of tax expense/(income)

Current tax:

Deferred tax:

Included within the UK tax charge is a credit of £ 156,882 (2023 - £ 791,652 ) which relates to tax charges in the joint venture.

Reconciliation of tax expense/(income)

The tax assessed on the profit/(loss) on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 23.50 %).

13. Intangible assets

The company has no intangible assets.

14. Tangible assets

Included within the group's land and buildings is land amounting to £4,098,399 which is not depreciated. Included within the company's land and buildings is land amounting to £3,390,000 which is not depreciated. Assets under construction which were fully commissioned during the year were transferred from assets under construction.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

The company has no tangible assets held under finance lease or hire purchase agreements.

15. Investments

Subsidiaries, associates and other investments

Details of the investments in which the group and the parent company have an interest of 20% or more are as follows:

All of the above companies are based in the UK, have been consolidated in the group accounts, share the same registered office as Lincoln Protein Holdings Ltd apart from Dundas Rendering Limited, Dundas Chemical Company (Mosspark) Limited and Caledonian Petfoods Limited who's registered office is Mosspark, Brasswell, Dumfries, Scotland, DG1 4PH, and Northern Fallen Stock Limited who's registered office is The Knackery, Northside Road, Workington, Cumbria, CA14 1BE. Inztec Composting Limited has claimed the exemption from audit under Section 479A of the Companies Act 2006 relating to subsidiary companies. On 26 July 2024 the company completed the acquisition of the remaining 50% shareholding in its joint venture company, Dundas Rendering Limited.

16. Stocks

17. Debtors

18. Creditors: amounts falling due within one year

The bank loan is secured by way of fixed and floating charges in favour of Barclays Bank. Within other creditors is deferred consideration of £2,666,667 (2023 - £2,000,000) which is secured by way of a share pledge. Hire purchase liabilities are secured on the assets financed.

19. Creditors: amounts falling due after more than one year

The bank loan is secured by way of fixed and floating charges in favour of Barclays Bank. Other creditors are deferred consideration of £2,666,667 (2023 - £nil. They are secured by way of a share pledge, and a £6,016,267 loan from a connected party. Hire purchase liabilities are secured on the assets financed.

20. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

21. Provisions