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REGISTERED NUMBER: 05217234 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31st March 2025 |

| for |

| Soanes Poultry Ltd |

| Soanes Poultry Ltd (Registered number: 05217234) |

Contents of the Financial Statements

for the year ended 31st March 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 5 |

| Report of the Independent Auditors | 7 |

| Statement of Comprehensive Income | 11 |

| Balance Sheet | 12 |

| Statement of Changes in Equity | 13 |

| Cash Flow Statement | 14 |

| Notes to the Cash Flow Statement | 15 |

| Notes to the Financial Statements | 16 |

| Soanes Poultry Ltd |

Company Information

for the year ended 31st March 2025

| DIRECTORS: | A M Soanes

| J A Soanes

| Mrs S V Soanes

| Mrs C L Wright

| B Lee

| REGISTERED OFFICE: | Church Hill Farm

| Middleton-on-the-Wolds

| Driffield

| East Yorkshire

| YO25 9UG

| REGISTERED NUMBER: | 05217234 (England and Wales)

| AUDITORS: | Sadofskys

| Statutory Auditors

| Princes House

| Wright Street

| Hull

| East Yorkshire

| HU2 8HX

| BANKERS: | Barclays Bank PLC

| Leicester

| Leicestershire

| LE87 2BB

| Soanes Poultry Ltd (Registered number: 05217234) |

Strategic Report

for the year ended 31st March 2025

The directors present their strategic report for the year ended 31st March 2025.

REVIEW OF BUSINESS

The key performance indicators of turnover, turnover growth, gross profit and net profit before taxation communicate the financial performance of the company as a whole.

The key performance indicators are as follows:

| 2025 |  | 2024 |  | 2023 |  | 2022 |

£ |  | £ |  | £ |  | £ |  |

Turnover |  | 39,271,520 |  | 35,677,847 |  | 35,143,741 |  | 28,001,815 |

Turnover Growth |  | 10.1% |  | 1.5% |  | 25.5% |  | 17.0% |

Gross Profit Margin |  | 19.4% |  | 14.3% |  | 12.7% |  | 12.8% |

Net Profit |  | 2,838,854 |  | 627,051 |  | 429,828 |  | 297,722 |

Net Profit Margin |  | 7.2% |  | 1.7% |  | 1.2% |  | 1.1% |

The financial year has seen Soanes Poultry navigate a dynamic market landscape with resilience and adaptability. A key industry development was the marked shift in the chicken market, where demand consistently outpaced supply. This imbalance, coupled with significant price increases in imports, contributed to a robust and buoyant marketplace.

Despite continued pressure on input costs, Soanes Poultry has demonstrated strong commercial agility-strategically repositioning the business into more lucrative market sectors. Our focus on quality, provenance, and traceability has aligned perfectly with rising consumer demand for sustainable and ethically sourced poultry.

As a result, the company has maintained steady performance and laid the groundwork for long-term growth. Our award-winning Yorkshire poultry products have reinforced our brand's reputation, enabling us to capitalise on emerging opportunities both locally and nationally.

We remain confident in our strategic direction and continue to invest in excellence across our operation, ensuring we meet the evolving needs of our customers and uphold the values that define Soanes Poultry Ltd.

| Soanes Poultry Ltd (Registered number: 05217234) |

Strategic Report

for the year ended 31st March 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company's operations.

Price risk

The company is a wholesale distributor of poultry and game. The prices of such products tend to reduce on account of pricing pressure and competition. This risk is managed by maintaining adequate levels of stock and by monitoring the market continuously.

Foreign exchange risk

The company does not deal in any foreign currencies.

Credit risk

Credit checks are carried out on all customers. Amounts outstanding for both time and credit limits are regularly monitored. The company does experience bad debts but believes it has systems in place to mitigate these risks.

Debts for major creditors are insured and the company has sought to reduce credit of material creditor balances where insurance is not secured.

Liquidity risk

The company's liquidity risk is managed by ensuring sufficient funds are available to meet amounts due and does not consider that liquidity poses a significant risk.

Interest rate and cash flow risk

The company had a favourable cash balance during the year and therefore does not consider that interest rates or cash flow pose a significant risk.

| Soanes Poultry Ltd (Registered number: 05217234) |

Strategic Report

for the year ended 31st March 2025

FUTURE DEVELOPMENTS

Looking ahead, Soanes Poultry is poised to build on the momentum of a strong year with a series of ambitious and forward-thinking initiatives. Central to our environmental and operational strategy is the investment in a state-of-the-art ammonia glycol refrigeration system, which will be rolled out across the entire site. This system not only delivers improved energy efficiency but also eliminates the use of F-gas marking a significant step forward in our environmental commitments and reinforcing our leadership in sustainable food production.

In line with market demand and our growth trajectory, the business is embarking on a three-year plan to increase overall throughput. The coming financial year will establish the necessary foundations-setting the stage for measurable expansion as we progress into 2026 and beyond. This growth strategy is underpinned by our continued dedication to delivering premium Yorkshire poultry products to the most discerning customers.

We remain committed to nurturing our valued relationships with existing partners, while selectively expanding our reach into new markets aligned with our brand and values. In parallel, we are investing in staff welfare and infrastructure, with plans already in motion for a new building dedicated to enhancing staff facilities-a testament to the value we place on the well-being of our team.

As we look to the future, Soanes Poultry remains driven by innovation, integrity, and a deep-rooted belief in producing poultry with the highest welfare, authentic provenance, and quality at its heart.

ON BEHALF OF THE BOARD:

A M Soanes - Director

1st September 2025

| Soanes Poultry Ltd (Registered number: 05217234) |

Report of the Directors

for the year ended 31st March 2025

The directors present their report with the financial statements of the company for the year ended 31st March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of poultry production and processing.

DIVIDENDS

No dividends will be distributed for the year ended 31st March 2025.

FUTURE DEVELOPMENTS

These details have been provided in the company's strategic report.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2024 to the date of this report.

A M Soanes

J A Soanes

Mrs S V Soanes

Mrs C L Wright

B Lee

FINANCIAL INSTRUMENTS

The company's principal financial instruments comprise bank balances, trade debtors and trade creditors. The main purpose of these instruments is to raise funds and finance the company's operations.

Revenue maintenance

The company actively markets and manages its portfolio of products to focus on revenue building and maintenance which, over the life cycle of the products, can contribute to the future profits of the business.

Risks and uncertainties

These details have been provided in the company's strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements 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.

| Soanes Poultry Ltd (Registered number: 05217234) |

Report of the Directors

for the year ended 31st March 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES - continued

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Sadofskys, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A M Soanes - Director

1st September 2025

Report of the Independent Auditors to the Members of

Soanes Poultry Ltd

Opinion

We have audited the financial statements of Soanes Poultry Ltd (the 'company') for the year ended 31st March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 Financial Reporting Standard 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 company's affairs as at 31st March 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | 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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Soanes Poultry Ltd

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the 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 Statement of Directors' Responsibilities, 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 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 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 company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Soanes Poultry Ltd

Auditors' 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 a Report of the Auditors 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.

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 as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the food industry;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, and data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company'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:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and

- 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;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

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 informed 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 Report of the Auditors.

Report of the Independent Auditors to the Members of

Soanes Poultry Ltd

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 a Report of the Auditors 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.

A Brocklehurst (Senior Statutory Auditor)

for and on behalf of Sadofskys

Statutory Auditors

Princes House

Wright Street

Hull

East Yorkshire

HU2 8HX

1st September 2025

| Soanes Poultry Ltd (Registered number: 05217234) |

Statement of Comprehensive

Income

for the year ended 31st March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 39,271,520 |  | 35,677,847 |  |

Cost of sales | 31,645,751 |  | 30,562,506 |  |

GROSS PROFIT | 7,625,769 |  | 5,115,341 |  |

Distribution costs | 935,975 |  | 852,636 |  |

Administrative expenses | 3,988,481 |  | 3,789,476 |  |

|  |  | 4,924,456 |  |  |  |  | 4,642,112 |  |

2,701,313 |  | 473,229 |  |

Other operating income | 53,476 |  | 97,043 |  |

OPERATING PROFIT | 4 | 2,754,789 |  | 570,272 |  |

Interest receivable and similar income | 84,065 |  | 58,887 |  |

2,838,854 |  | 629,159 |  |

Interest payable and similar expenses | 6 | - |  | 2,108 |  |

PROFIT BEFORE TAXATION | 2,838,854 |  | 627,051 |  |

Tax on profit | 7 | 716,511 |  | 142,564 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,122,343 |  | 484,487 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,122,343 |  | 484,487 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Balance Sheet

31st March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 8 | 9,244 |  | 5,850 |  |

Tangible assets | 9 | 4,093,178 |  | 4,024,422 |  |

4,102,422 |  | 4,030,272 |  |

CURRENT ASSETS

Stocks | 10 | 174,419 |  | 245,065 |  |

Debtors | 11 | 3,555,570 |  | 3,290,981 |  |

Cash at bank and in hand | 4,694,751 |  | 2,484,947 |  |

8,424,740 |  | 6,020,993 |  |

CREDITORS

Amounts falling due within one year | 12 | 4,746,316 |  | 4,365,077 |  |

NET CURRENT ASSETS | 3,678,424 |  | 1,655,916 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,780,846 |  | 5,686,188 |  |

PROVISIONS FOR LIABILITIES | 14 | (392,993 | ) | (369,470 | ) |

ACCRUALS AND DEFERRED INCOME | 15 | (398,043 | ) | (449,251 | ) |

NET ASSETS | 6,989,810 |  | 4,867,467 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 100 |  | 100 |  |

Retained earnings | 6,989,710 |  | 4,867,367 |  |

SHAREHOLDERS' FUNDS | 6,989,810 |  | 4,867,467 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 1st September 2025 and were signed on its behalf by:

A M Soanes - Director

| Soanes Poultry Ltd (Registered number: 05217234) |

Statement of Changes in Equity

for the year ended 31st March 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1st April 2023 | 100 |  | 4,382,880 |  | 4,382,980 |  |

Changes in equity

Total comprehensive income | - |  | 484,487 |  | 484,487 |  |

Balance at 31st March 2024 | 100 |  | 4,867,367 |  | 4,867,467 |  |

Changes in equity

Total comprehensive income | - |  | 2,122,343 |  | 2,122,343 |  |

Balance at 31st March 2025 | 100 |  | 6,989,710 |  | 6,989,810 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Cash Flow Statement

for the year ended 31st March 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,962,690 |  | 2,033,065 |  |

Interest paid | - |  | (35 | ) |

Interest element of hire purchase or finance lease rental payments paid | - |  | (2,073 | ) |

Tax paid | (117,724 | ) | (112,214 | ) |

Net cash from operating activities | 2,844,966 |  | 1,918,743 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (7,617 | ) | - |  |

Purchase of tangible fixed assets | (716,112 | ) | (666,160 | ) |

Sale of tangible fixed assets | 4,502 |  | 23,574 |  |

Interest received | 84,065 |  | 58,887 |  |

Net cash from investing activities | (635,162 | ) | (583,699 | ) |

Cash flows from financing activities

Capital repayments in year | - |  | (29,543 | ) |

Net cash from financing activities | - |  | (29,543 | ) |

Increase in cash and cash equivalents | 2,209,804 |  | 1,305,501 |  |

Cash and cash equivalents at beginning of year | 2 | 2,484,947 |  | 1,179,446 |  |

Cash and cash equivalents at end of year | 2 | 4,694,751 |  | 2,484,947 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Cash Flow Statement

for the year ended 31st March 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 2,838,854 |  | 627,051 |  |

| Depreciation charges | 627,711 |  | 562,409 |  |

| Loss on disposal of fixed assets | 19,366 |  | 134,790 |  |

| Government grants | (53,476 | ) | (54,538 | ) |

| Finance costs | - |  | 2,108 |  |

| Finance income | (84,065 | ) | (58,887 | ) |

3,348,390 |  | 1,212,933 |  |

| Decrease/(increase) in stocks | 70,646 |  | (48,133 | ) |

| (Increase)/decrease in trade and other debtors | (308,213 | ) | 93,740 |  |

| (Decrease)/increase in trade and other creditors | (148,133 | ) | 774,525 |  |

| Cash generated from operations | 2,962,690 |  | 2,033,065 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31st March 2025

| 31/3/25 |  | 1/4/24

£ | £ |

| Cash and cash equivalents | 4,694,751 |  | 2,484,947 |  |

| Year ended 31st March 2024

| 31/3/24 |  | 1/4/23

£ | £ |

| Cash and cash equivalents | 2,484,947 |  | 1,179,446 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1/4/24 | Cash flow | At 31/3/25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 2,484,947 |  | 2,209,804 |  | 4,694,751 |  |

2,484,947 |  | 2,209,804 |  | 4,694,751 |  |

| Total | 2,484,947 |  | 2,209,804 |  | 4,694,751 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements

for the year ended 31st March 2025

1. | STATUTORY INFORMATION

| Soanes Poultry Ltd 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Critical accounting judgements and key sources of estimation uncertainty

| The company makes estimates and assumptions concerning the future. Estimates and judgements are continuously evaluated and are based on historical experience and other factors, such as including expectations of future events that are believed to be reasonable under the circumstances. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying value of assets and liabilities within the next financial year are as follows:

| Useful life and residual values

| Estimations in residual values and useful lives of tangible and intangible assets are assessed annually. Judgement has been made in estimating the useful lives of the asset categories aligned to the company's depreciation and write-off policies.

| Impairment of Assets

| The company assesses the carrying amounts of its assets to determine whether there is any indication that those assets have suffered an impairment loss. This assessment requires management to make judgements about the recoverable amount of the assets, which is the higher of the asset's fair value less costs of disposal and its value in use. In making these judgements, management considers various factors, including any changes in market conditions that may affect the asset's value. These judgements are based on historical experience and other factors that are believed to be reasonable under the circumstances. Any changes in these assumptions or estimates could result in a material adjustment to the carrying amount of the assets within the next financial year

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added taxes and other sales taxes.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Computer software is being amortised over 5 years on a straight line basis.

| Tangible fixed assets

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

| Improvements to property | - | 20% on cost, 10% on cost and 4% on cost

| Plant and machinery | - | 20% on cost

| Office equipment | - | 20% on cost

| Motor vehicles | - | 33% on reducing balance

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks.

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original effective interest rate. If the financial instrument has a variable interest rate the currently effective rate under the contract is used.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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 profit or loss in the period to which they relate.

| Going concern

| The board of directors are confident that the business is well positioned as Yorkshire's premium poultry supplier of choice. We have strategic plans in place to continue in our investment of the site, our staff and delivery of our award-winning poultry products. Our position in the market is that of a traditional business with modern and forward-thinking ideas where welfare, quality and provenance prevail. It is these values that make us the supplier of choice for many of our discerning customers and allow the business to invest in the future and trade profitability.

3. | EMPLOYEES AND DIRECTORS

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Wages and salaries |  | 4,750,133 |  | 4,337,041 |  |

| Social security costs |  | 491,713 |  | 421,154 |  |

| Other pension costs |  | 64,032 |  | 92,167 |  |

|  | 5,305,878 |  | 4,850,362 |  |

| The average number of employees during the year was as follows:

|  | 2025 |  | 2024 |  |

| Factory |  | 134 |  | 119 |  |

| Management and Office |  | 20 |  | 20 |  |

|  | 154 |  | 139 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 471,146 |  | 251,378 |  |

| Directors' pension contributions to money purchase schemes | 2,641 |  | 2,642 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 2 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

3. | EMPLOYEES AND DIRECTORS - continued

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 262,162 |  | 139,075 |  |

| Pension contributions to money purchase schemes | 1,320 |  | 1,321 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Other operating leases | 26,000 |  | 26,000 |  |

| Depreciation - owned assets | 623,488 |  | 557,709 |  |

| Depreciation - assets on hire purchase contracts or finance leases | - |  | 2,000 |  |

| Loss on disposal of fixed assets | 19,366 |  | 134,790 |  |

| Computer software amortisation | 4,223 |  | 2,700 |  |

5. | AUDITORS' REMUNERATION

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Accountancy fees |  | 6,000 |  | 5,500 |  |

| Audit fees |  | 8,700 |  | 6,000 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Interest on corporation tax | - |  | 35 |  |

| Hire purchase interest | - |  | 2,073 |  |

- |  | 2,108 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

7. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 692,988 |  | 159,784 |  |

| Taxation for prior periods | - |  | (43,624 | ) |

| Total current tax | 692,988 |  | 116,160 |  |

| Deferred taxation | 23,523 |  | 26,404 |  |

| Tax on profit | 716,511 |  | 142,564 |  |

| UK corporation tax has been charged at 25% .

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 2,838,854 |  | 627,051 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 709,714 |  | 156,763 |  |

| Effects of:

| Adjustments to tax charge in respect of previous periods | - |  | (43,624 | ) |

| Depreciation on non-qualifying assets | 16,676 |  | 39,304 |  |

| Capital grants relating to non-qualifying assets | (9,879 | ) | (9,879 | ) |

| Total tax charge | 716,511 |  | 142,564 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

8. | INTANGIBLE FIXED ASSETS

| Computer

| software

£ |

| COST

| At 1st April 2024 | 13,500 |  |

| Additions | 7,617 |  |

| At 31st March 2025 | 21,117 |  |

| AMORTISATION

| At 1st April 2024 | 7,650 |  |

| Amortisation for year | 4,223 |  |

| At 31st March 2025 | 11,873 |  |

| NET BOOK VALUE

| At 31st March 2025 | 9,244 |  |

| At 31st March 2024 | 5,850 |  |

9. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Plant and |  | Office |  | Motor |

| property |  | machinery |  | equipment |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1st April 2024 | 3,588,170 |  | 1,261,734 |  | 95,263 |  | 746,987 |  | 5,692,154 |  |

| Additions | 230,190 |  | 420,323 |  | 1,638 |  | 63,961 |  | 716,112 |  |

| Disposals | - |  | - |  | - |  | (124,950 | ) | (124,950 | ) |

| At 31st March 2025 | 3,818,360 |  | 1,682,057 |  | 96,901 |  | 685,998 |  | 6,283,316 |  |

| DEPRECIATION

| At 1st April 2024 | 699,856 |  | 594,385 |  | 53,136 |  | 320,355 |  | 1,667,732 |  |

| Charge for year | 188,943 |  | 268,533 |  | 16,586 |  | 149,426 |  | 623,488 |  |

| Eliminated on disposal | - |  | - |  | - |  | (101,082 | ) | (101,082 | ) |

| At 31st March 2025 | 888,799 |  | 862,918 |  | 69,722 |  | 368,699 |  | 2,190,138 |  |

| NET BOOK VALUE

| At 31st March 2025 | 2,929,561 |  | 819,139 |  | 27,179 |  | 317,299 |  | 4,093,178 |  |

| At 31st March 2024 | 2,888,314 |  | 667,349 |  | 42,127 |  | 426,632 |  | 4,024,422 |  |

10. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 174,419 |  | 245,065 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

11. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 3,053,699 |  | 2,313,787 |  |

| Other debtors | 232,514 |  | 281,050 |  |

| Taxation | - |  | 43,624 |  |

| Prepayments and accrued income | 269,357 |  | 152,520 |  |

3,555,570 |  | 2,790,981 |  |

| Amounts falling due after more than one year:

| Loan - Clive Soanes (Broilers) Limited | - |  | 500,000 |  |

| Aggregate amounts | 3,555,570 |  | 3,290,981 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 3,253,407 |  | 2,725,600 |  |

| Taxation | 691,380 |  | 159,740 |  |

| Social security and other taxes | 144,713 |  | 115,738 |  |

| Other creditors | 122,424 |  | 564,937 |  |

| Accrued expenses | 483,184 |  | 745,585 |  |

| Deferred government grants | 51,208 |  | 53,477 |  |

4,746,316 |  | 4,365,077 |  |

13. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 47,218 |  | 50,161 |  |

| Between one and five years | 52,000 |  | 99,218 |  |

99,218 |  | 149,379 |  |

14. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 392,993 |  | 369,470 |  |

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

14. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1st April 2024 | 369,470 |  |

| Charge to Statement of Comprehensive Income during year | 23,523 |  |

| Balance at 31st March 2025 | 392,993 |  |

15. | ACCRUALS AND DEFERRED INCOME

2025 | 2024 |

£ | £ |

| Deferred government grants | 398,043 |  | 449,251 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

| Ordinary Shares

| Ordinary shares entitles the holder full voting rights and to participate in dividends and the proceeds on the

| winding up of the company in proportion to the number of and amounts paid on the shares held.

17. | RELATED PARTY DISCLOSURES

| Other related parties

2025 | 2024 |

£ | £ |

| Sales and recharges | 115,534 |  | 144,988 |  |

| Purchases and recharges | 10,788,673 |  | 9,748,603 |  |

| Loan interest receivable | 12,592 |  | 31,537 |  |

| Amount due from related party | 1,088,270 |  | 1,562,597 |  |

| Amount due to related party | - |  | 500,350 |  |

18. | POST BALANCE SHEET EVENTS

| In May 2025, a capital commitment was made to replace and upgrade the factory's refrigeration system to a more efficient and environmentally sustainable option.

| The contracts signed for this project is for a total of £2.5m. The estimated completion date for this project is January 2026.

19. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is A M Soanes.

| Soanes Poultry Ltd (Registered number: 05217234) |

Notes to the Financial Statements - continued

for the year ended 31st March 2025

20. | GOVERNMENT GRANTS

| Of the capital funding grants which have been included within deferred government grants in note 17, £53,477 (2024 - £54,538) has been released to the profit and loss account during the year.