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REGISTERED NUMBER: 06430068 (England and Wales)

| Fountain Frozen Limited |

| Strategic Report, Directors' Report and |

| Financial Statements |

| for the Year Ended 30 November 2024 |

Fountain Frozen Limited (Registered number: 06430068)

Contents of the Financial Statements

for the Year Ended 30 November 2024

Page |

Company information | 1 |

Strategic report | 2 |

Directors' report | 3 |

Report of the independent auditors | 5 |

Statement of comprehensive income | 9 |

Statement of financial position | 10 |

Statement of changes in equity | 11 |

Statement of cash flows | 12 |

Notes to the statement of cash flows | 13 |

Notes to the financial statements | 14 |

Fountain Frozen Limited

Company Information

for the Year Ended 30 November 2024

| Directors: | K Wilshire

| K Lawrence

| M Lawrence

| J Lawrence

| Registered office: | Monica House

| St Augustines Road

| Wisbech

| Cambs

| PE13 3AD

| Business address: | Salters Way

| Cromwell Road

| Wisbech

| Cambridgeshire

| PE13 0SH

| Registered number: | 06430068 (England and Wales)

| Auditors: | Moore Thompson

| Bank House

| Broad Street

| Spalding

| Lincolnshire

| PE11 1TB

Fountain Frozen Limited (Registered number: 06430068)

Strategic Report

for the Year Ended 30 November 2024

The directors present their strategic report for the year ended 30 November 2024.

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 non-complex nature of our business, and is written in the context of the risks and uncertainties we face.

Review of business

Over the last year, trading has been difficult at times, with the public tightening their belts and being very careful when buying their weekly food shop. Our products are not staple requirements to most, so when things do get tight, it tends to be the impulse purchases that get left on the shelf.

We continue to have a very good relationships with our suppliers that has allowed us to continue trading at manageable costs with all of the fluctuating prices of raw material. We have to monitor the situation very carefully to keep costs in hand.

We thankfully have a wide business portfolio, and continued good relationships with our customers, so hopefully we can continue to build on this.

Principal risks and uncertainties

Many businesses continue to struggle, and understandably so given the changes to NI & NLW.

Raw materials, ingredients and packaging have all seen slight price increases this year, but hopefully most things have now stabilised and settled at realistic price points.

We must however manage this carefully and continue to monitor purchasing prices and negotiate best prices possible. All overhead costs will need to be closely monitored and findings acted upon.

Development and performance

The company ended the financial year in a profitable position.

The company will continue to serve our customers with the excellent service they have received over the years, listen to their needs and requirements, and help them to achieve their targets. All of which will help our business to prosper in the future.

Financial key performance indicators

Turnover is key to running the business. We have a very good relationship with a UK distributor, that is continually growing, so providing we continue to meet their requirements, the business will hopefully remain in growth and profitable.

Turnover increased by a total of 28.9% when compared to the previous year, and the gross profit margin for the year increased slightly to 20.3% (2023: 16.9%).

On behalf of the board:

K Lawrence - Director

3 November 2025

Fountain Frozen Limited (Registered number: 06430068)

Directors' Report

for the Year Ended 30 November 2024

The directors present their report with the financial statements of the company for the year ended 30 November 2024.

Principal activity

The principal activity of the company in the year under review was that of food manufacturing.

Dividends

No dividends will be distributed for the year ended 30 November 2024.

Future developments

The company will continue to look at new product development as well as focusing on our core products.

We would also like to build on current customer relationships and expand into potential new markets where possible.

We are continuing to re-invest in the business, with our packing hall now having all three packing / weighing lines with the same equipment on each of the lines, which helps operationally and reduces our spares holding.

A new batter mixer has also been purchased, as this was an area identified as causing significant downtime.

Directors

The directors shown below have held office during the whole of the period from 1 December 2023 to the date of this report.

K Wilshire

K Lawrence

M Lawrence

Other changes in directors holding office are as follows:

J Lawrence - appointed 3 April 2024

Disclosure of information in the strategic report

The directors, in accordance with section 414C(11) of the Companies Act 2006 Regulations 2013, have prepared the company's strategic report as required by schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 as per page 2.

Statement of directors' responsibilities

The directors are responsible for preparing the Strategic report, the 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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.

Fountain Frozen Limited (Registered number: 06430068)

Directors' Report

for the Year Ended 30 November 2024

Statement of directors' responsibilities - continued

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.

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, Moore Thompson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:

K Wilshire - Director

3 November 2025

Report of the Independent Auditors to the Members of

Fountain Frozen Limited

Opinion

We have audited the financial statements of Fountain Frozen Limited (the 'company') for the year ended 30 November 2024 which comprise the Statement of comprehensive income, Statement of financial position, Statement of changes in equity, Statement of cash flows and Notes to the statement of cash flows, 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 30 November 2024 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 unqualified 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 Directors' report, 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 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.

Report of the Independent Auditors to the Members of

Fountain Frozen Limited

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 Directors' report.

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 set out on pages three and four, 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

Fountain Frozen Limited

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:

- 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 sector;

- 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 such as the Companies Act 2006, taxation legislation, 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 the 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;

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

Report of the Independent Auditors to the Members of

Fountain Frozen Limited

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 Report of the auditors.

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.

Matt Storey FCCA, ACA, BFP (Senior Statutory Auditor)

for and on behalf of Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

3 November 2025

Fountain Frozen Limited (Registered number: 06430068)

Statement of Comprehensive Income

for the Year Ended 30 November 2024

| 2024 |  | 2023

| Notes | £ | £ |

Turnover | 18,852,874 |  | 14,627,047 |  |

Cost of sales | 15,019,882 |  | 12,147,932 |  |

Gross profit | 3,832,992 |  | 2,479,115 |  |

Administrative expenses | 3,839,218 |  | 3,047,991 |  |

(6,226 | ) | (568,876 | ) |

Other operating income | 147,009 |  | 152,126 |  |

Operating profit/(loss) | 5 | 140,783 |  | (416,750 | ) |

Interest receivable and similar income | - |  | 9 |  |

Profit/(loss) before taxation | 140,783 |  | (416,741 | ) |

Tax on profit/(loss) | 8 | 35,322 |  | (94,162 | ) |

Profit/(loss) for the financial year | 105,461 |  | (322,579 | ) |

Other comprehensive income | - |  | - |  |

Total comprehensive income for the year | 105,461 |  | (322,579 | ) |

Fountain Frozen Limited (Registered number: 06430068)

Statement of Financial Position

30 November 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | 1,547,604 |  | 1,431,909 |  |

1,547,604 |  | 1,431,909 |  |

Current assets

Stocks | 11 | 1,301,987 |  | 1,629,998 |  |

Debtors | 12 | 2,634,035 |  | 3,238,311 |  |

Cash at bank and in hand | 1,981,108 |  | 944,788 |  |

5,917,130 |  | 5,813,097 |  |

Creditors

Amounts falling due within one year | 13 | 2,177,056 |  | 2,098,111 |  |

Net current assets | 3,740,074 |  | 3,714,986 |  |

Total assets less current liabilities | 5,287,678 |  | 5,146,895 |  |

Provisions for liabilities | 16 | 187,120 |  | 151,798 |  |

Net assets | 5,100,558 |  | 4,995,097 |  |

Capital and reserves

Called up share capital | 17 | 3 |  | 3 |  |

Retained earnings | 18 | 5,100,555 |  | 4,995,094 |  |

Shareholders' funds | 5,100,558 |  | 4,995,097 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2025 and were signed on its behalf by:

K Lawrence - Director

K Wilshire - Director

Fountain Frozen Limited (Registered number: 06430068)

Statement of Changes in Equity

for the Year Ended 30 November 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 December 2022 | 3 |  | 5,317,673 |  | 5,317,676 |  |

Changes in equity

Total comprehensive income | - |  | (322,579 | ) | (322,579 | ) |

Balance at 30 November 2023 | 3 |  | 4,995,094 |  | 4,995,097 |  |

Changes in equity

Total comprehensive income | - |  | 105,461 |  | 105,461 |  |

Balance at 30 November 2024 | 3 |  | 5,100,555 |  | 5,100,558 |  |

Fountain Frozen Limited (Registered number: 06430068)

Statement of Cash Flows

for the Year Ended 30 November 2024

| 2024 |  | 2023

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,432,694 |  | (605,011 | ) |

Tax paid | - |  | (21,259 | ) |

Net cash from operating activities | 1,432,694 |  | (626,270 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (403,124 | ) | (491,698 | ) |

Sale of tangible fixed assets | 6,750 |  | - |  |

Interest received | - |  | 9 |  |

Net cash from investing activities | (396,374 | ) | (491,689 | ) |

Increase/(decrease) in cash and cash equivalents | 1,036,320 |  | (1,117,959 | ) |

Cash and cash equivalents at beginning of year | 2 | 944,788 |  | 2,062,747 |  |

Cash and cash equivalents at end of year | 2 | 1,981,108 |  | 944,788 |  |

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Statement of Cash Flows

for the Year Ended 30 November 2024

1. | Reconciliation of profit/(loss) before taxation to cash generated from operations

| 2024 |  | 2023

£ | £ |

| Profit/(loss) before taxation | 140,783 |  | (416,741 | ) |

| Depreciation charges | 285,578 |  | 220,909 |  |

| Profit on disposal of fixed assets | (4,898 | ) | - |  |

| Finance income | - |  | (9 | ) |

421,463 |  | (195,841 | ) |

| Decrease in stocks | 328,011 |  | 220,236 |  |

| Decrease/(increase) in trade and other debtors | 604,276 |  | (1,142,353 | ) |

| Increase in trade and other creditors | 78,944 |  | 512,947 |  |

| Cash generated from operations | 1,432,694 |  | (605,011 | ) |

2. | Cash and cash equivalents

| The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

| Year ended 30 November 2024

| 30.11.24 |  | 1.12.23

£ | £ |

| Cash and cash equivalents | 1,981,108 |  | 944,788 |  |

| Year ended 30 November 2023

| 30.11.23 |  | 1.12.22

£ | £ |

| Cash and cash equivalents | 944,788 |  | 2,062,747 |  |

3. | Analysis of changes in net funds

| At 1.12.23 | Cash flow | At 30.11.24

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 944,788 |  | 1,036,320 |  | 1,981,108 |  |

944,788 |  | 1,036,320 |  | 1,981,108 |  |

| Total | 944,788 |  | 1,036,320 |  | 1,981,108 |  |

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Financial Statements

for the Year Ended 30 November 2024

1. | Statutory information

| Fountain Frozen 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. | Statement of compliance

| 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.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| 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. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

| Estimation of useful life

| The useful economic life used to amortise intangible assets and depreciate tangible fixed assets relates to the expected future performance of the assets acquired and management's estimate of the period over which economic benefit will be derived from the asset.

| Estimation of residual value

| The residual value of an asset is the estimated fair value of that asset at the end of its useful economic life and therefore is also dependent upon the estimation of that life span.

| 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.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

| 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.

| Negative goodwill are being amortised evenly over their estimated useful life of ten years.

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

3. | Accounting policies - continued

| 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 | - | 10% straight line & 25% reducing balance

| Fixtures and fittings | - | 15% reducing balance

| Computer equipment | - | Straight line over 3 years

| 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

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

| Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

| 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 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.

| Deferred tax has been provided at a rate of 25%.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

3. | Accounting policies - continued

| Hire purchase and leasing commitments

| 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.

| Operating leases - lessee

| 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.

4. | Employees and directors

| 2024 |  | 2023

£ | £ |

| Wages and salaries | 1,420,183 |  | 1,266,045 |  |

| Social security costs | 138,417 |  | 116,586 |  |

| Other pension costs | 22,391 |  | 19,829 |  |

1,580,991 |  | 1,402,460 |  |

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

| 2024 |  | 2023

| Production staff | 60 |  | 63 |  |

| Administrative staff | 11 |  | 7 |  |

| Directors | 3 |  | 3 |  |

74 |  | 73 |  |

| 2024 |  | 2023

£ | £ |

| Directors' remuneration | - |  | - |  |

5. | Operating profit/(loss)

| The operating profit (2023 - operating loss) is stated after charging/(crediting):

| 2024 |  | 2023

£ | £ |

| Hire of plant and machinery | 39,157 |  | 36,962 |  |

| Other operating leases | 110,000 |  | 110,000 |  |

| Depreciation - owned assets | 285,577 |  | 220,909 |  |

| Profit on disposal of fixed assets | (4,898 | ) | - |  |

| Foreign exchange differences | 3,009 |  | (3,196 | ) |

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

6. | Auditors' remuneration

| 2024 |  | 2023

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 10,800 |  | 10,200 |  |

7. | Exceptional items

| 2024 |  | 2023

£ | £ |

| Exceptional items | (305,966 | ) | - |  |

| The balance included within exceptional items relates to a bad debt provision of £305,966.

8. | Taxation

| Analysis of the tax charge/(credit)

| The tax charge/(credit) on the profit for the year was as follows:

| 2024 |  | 2023

£ | £ |

| Current tax:

| UK corporation tax | - |  | (19,002 | ) |

| Deferred tax | 35,322 |  | (75,160 | ) |

| Tax on profit/(loss) | 35,322 |  | (94,162 | ) |

| UK corporation tax was charged at 19%) in 2023.

| Reconciliation of total tax charge/(credit) 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:

| 2024 |  | 2023

£ | £ |

| Profit/(loss) before tax | 140,783 |  | (416,741 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 19%) | 35,196 |  | (79,181 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 34 |  | - |  |

| Capital allowances in excess of depreciation | (36,509 | ) | (57,538 | ) |

| Deferred tax movement | 35,322 |  | (75,160 | ) |

| Losses carried forward | 1,279 |  | 115,470 |  |

| Underprovision in prior year | - |  | 2,247 |  |

| Total tax charge/(credit) | 35,322 |  | (94,162 | ) |

| Deferred tax has been provided at a rate of 25% (2023: 25%)

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

9. | Intangible fixed assets

| Negative |

| Goodwill |  | goodwill |  | Totals

£ | £ | £ |

| Cost

| At 1 December 2023

| and 30 November 2024 | 1 |  | (546,852 | ) | (546,851 | ) |

| Amortisation

| At 1 December 2023

| and 30 November 2024 | 1 |  | (546,852 | ) | (546,851 | ) |

| Net book value

| At 30 November 2024 | - |  | - |  | - |  |

| At 30 November 2023 | - |  | - |  | - |  |

10. | Tangible fixed assets

| Improvements |  | Fixtures |

| to |  | Plant and |  | and |  | Computer |

| property |  | machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| Cost

| At 1 December 2023 | 505,178 |  | 3,848,766 |  | 36,736 |  | 122,944 |  | 4,513,624 |  |

| Additions | 1,017 |  | 387,428 |  | 6,531 |  | 8,148 |  | 403,124 |  |

| Disposals | - |  | (15,859 | ) | - |  | - |  | (15,859 | ) |

| At 30 November 2024 | 506,195 |  | 4,220,335 |  | 43,267 |  | 131,092 |  | 4,900,889 |  |

| Depreciation

| At 1 December 2023 | 350,468 |  | 2,587,023 |  | 31,438 |  | 112,786 |  | 3,081,715 |  |

| Charge for year | 22,477 |  | 255,610 |  | 1,162 |  | 6,328 |  | 285,577 |  |

| Eliminated on disposal | - |  | (14,007 | ) | - |  | - |  | (14,007 | ) |

| At 30 November 2024 | 372,945 |  | 2,828,626 |  | 32,600 |  | 119,114 |  | 3,353,285 |  |

| Net book value

| At 30 November 2024 | 133,250 |  | 1,391,709 |  | 10,667 |  | 11,978 |  | 1,547,604 |  |

| At 30 November 2023 | 154,710 |  | 1,261,743 |  | 5,298 |  | 10,158 |  | 1,431,909 |  |

11. | Stocks

2024 | 2023 |

£ | £ |

| Raw materials | 514,557 |  | 600,774 |  |

| Finished goods | 787,430 |  | 1,029,224 |  |

1,301,987 |  | 1,629,998 |  |

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

12. | Debtors: amounts falling due within one year |

2024 | 2023 |

£ | £ |

| Trade debtors | 2,303,318 |  | 2,640,986 |  |

| Other debtors | 14,101 |  | 14,909 |  |

| Tax | 21,273 |  | 21,273 |  |

| VAT | 70,488 |  | 59,948 |  |

| Prepayments and accrued income | 224,855 |  | 501,195 |  |

2,634,035 |  | 3,238,311 |  |

13. | Creditors: amounts falling due within one year |

2024 | 2023 |

£ | £ |

| Trade creditors | 1,705,486 |  | 1,783,029 |  |

| Social security and other taxes | 110,749 |  | 107,765 |  |

| Other creditors | 169,793 |  | 9,759 |  |

| Accruals and deferred income | 191,028 |  | 197,558 |  |

2,177,056 |  | 2,098,111 |  |

14. | Leasing agreements

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

2024 | 2023 |

£ | £ |

| Within one year | 102,987 |  | 91,666 |  |

| Between one and five years | 67,318 |  | - |  |

170,305 |  | 91,666 |  |

15. | Secured debts

| Barclays Bank holds a fixed and floating charge over the assets of the company.

16. | Provisions for liabilities

2024 | 2023 |

£ | £ |

| Deferred tax | 187,120 |  | 151,798 |  |

| Deferred |

| tax |

£ |

| Balance at 1 December 2023 | 151,798 |  |

| Provided during year | 35,322 |  |

| Balance at 30 November 2024 | 187,120 |  |

Fountain Frozen Limited (Registered number: 06430068)

Notes to the Financial Statements - continued

for the Year Ended 30 November 2024

17. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 3 | Ordinary | £1 | 3 |  | 3 |  |

18. | Reserves

| Retained

| earnings

£ |

| At 1 December 2023 | 4,995,094 |  |

| Profit for the year | 105,461 |  |

| At 30 November 2024 | 5,100,555 |  |

| Profit and loss account - This reserve records retained earnings and accumulated losses.