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REGISTERED NUMBER: 05635309 (England and Wales)

| Strategic Report, |

| Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 December 2024 |

| for |

| The Roasting Company Limited |

| The Roasting Company Limited (Registered number: 05635309) |

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 4 |

| Income Statement | 6 |

| Other Comprehensive Income | 7 |

| Balance Sheet | 8 |

| Statement of Changes in Equity | 9 |

| Cash Flow Statement | 10 |

| Notes to the Cash Flow Statement | 11 |

| Notes to the Financial Statements | 12 |

| The Roasting Company Limited |

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | J L Priestley

| R J Messenger

| REGISTERED OFFICE: | Melbourne Park House

| Royal Oak Business Park

| East Road

| Sleaford

| Lincolnshire

| NG34 7EQ

| REGISTERED NUMBER: | 05635309 (England and Wales)

| SENIOR STATUTORY AUDITOR: | James Sewell BA (Hons) FCA CTA

| AUDITORS: | Wright Vigar Limited

| Statutory Auditors

| Chartered Accountants & Business Advisers

| 15 Newland

| Lincoln

| Lincolnshire

| LN1 1XG

| The Roasting Company Limited (Registered number: 05635309) |

Strategic Report

for the Year Ended 31 December 2024

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our company 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.

The company continues to roast, package and distribute dried nuts.

We consider that our key performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, profits before tax and net assets.

Turnover has decreased by approximately £1.6m in the year from £15.5m in 2023 to £13.9m in 2024.

The company has achieved a gross profit of £4m (28.9% of turnover) in 2024 compared to £3.1m (20% of turnover) in 2023, as the company continued to monitor both its selling and purchasing prices during the year.

Administrative expenses have increased by £106k, whilst the overall level of interest payable has decreased by £78k. Overall, the company achieved a profit before tax of £2.5m, which is an increase on profit before tax of £1.6m achieved in 2023.

The company's net current assets have increased from £4.5m in 2023 to £4.7m in 2024.

PRINCIPAL RISKS AND UNCERTAINTIES

In our opinion, the company will have sufficient resources available to manage its business risks and we expect to at least maintain the present level of activity for the foreseeable future whilst looking to ways to increase both supply and demand.

FINANCIAL RISK MANAGEMENT OBJECTIVE AND POLICIES

The company holds or issues financial instruments in order to achieve three main objectives, being:

a. To finance its operations

b. To manage its exposure to interest and currency risks arising from its operations and from its sources of finance; and

c. For trading purposes

In addition, various financial instruments (e.g. trade debtors, trade creditors, accruals and prepayments) arise directly from the company's operations.

Transactions in financial instruments result in the company assuming or transferring to another party one or more of the financial risks described below.

CREDIT RISK

The company monitors credit risk closely and considers that its current policies of credit checks meet its objectives of managing exposure to credit risk. The company has no significant concentrations if credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.

CURRENCY RISK

The Directors are aware of the company's exposure to currency risk and consider the company has taken appropriate steps in order to keep these risks to a minimum.

The company continues to face the risks arising from operating in foreign currencies. The company utilises foreign currency banking facilities. We actively monitor the level of resources held in these facilities to manage the risk effectively.

ON BEHALF OF THE BOARD:

J L Priestley - Director

17 November 2025

| The Roasting Company Limited (Registered number: 05635309) |

Report of the Directors

for the Year Ended 31 December 2024

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

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of roasting, packaging and distribution of dried nuts.

DIVIDENDS

Ordinary dividends amounting to £1,800,000 (2023: £3,764,706) were paid in the year. A final dividend of £1,770,000 in relation to 2024 was paid in January 2025.

DIRECTORS

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

J L Priestley

R J Messenger

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.

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

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

ON BEHALF OF THE BOARD:

J L Priestley - Director

17 November 2025

Report of the Independent Auditors to the Members of

The Roasting Company Limited

Opinion

We have audited the financial statements of The Roasting Company Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other 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 31 December 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 qualified 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.

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.

Report of the Independent Auditors to the Members of

The Roasting Company Limited

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, 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.

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 work is performed to include an assessment of the susceptibility of the entity's financial statements to material misstatement, including the risk of fraud. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).

In identifying and assessing risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- |  | We plan our work to gain an understanding of the significant laws and regulations that are of significance to the entity and the sector in which they operate. We perform our work to ensure that the entity is complying with its legal and regulatory framework. |

- |  | We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and people charged with governance. |

We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

- |  | Substantive procedures performed in accordance with the ISAs (UK). |

- |  | Challenging assumptions and judgments made by management in its significant accounting estimates. |

- |  | Identifying and testing journal entries, in particular material journal entries and an assessment of year end journals. |

- |  | Assessing the extent of compliance with the relevant laws and regulations. |

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.

James Sewell BA (Hons) FCA CTA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

17 November 2025

| The Roasting Company Limited (Registered number: 05635309) |

Income Statement

for the Year Ended 31 December 2024

| 2024 | 2023 |

| as restated |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 13,943,484 |  | 15,458,711 |  |

Cost of sales | 9,908,980 |  | 12,352,755 |  |

GROSS PROFIT | 4,034,504 |  | 3,105,956 |  |

Distribution costs | 176,997 |  | 153,270 |  |

Administrative expenses | 1,204,962 |  | 1,099,013 |  |

|  |  | 1,381,959 |  |  |  |  | 1,252,283 |  |

2,652,545 |  | 1,853,673 |  |

Other operating income | 13,006 |  | 43,348 |  |

OPERATING PROFIT | 5 | 2,665,551 |  | 1,897,021 |  |

Interest payable and similar expenses | 6 | 203,940 |  | 281,801 |  |

PROFIT BEFORE TAXATION | 2,461,611 |  | 1,615,220 |  |

Tax on profit | 7 | 618,989 |  | 377,360 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,842,622 |  | 1,237,860 |  |

| The Roasting Company Limited (Registered number: 05635309) |

Other Comprehensive Income

for the Year Ended 31 December 2024

| 2024 |  | 2023

| as restated |

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,842,622 |  | 1,237,860 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,842,622 |  |

Prior year adjustment | (289,634 | ) |

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT | 948,226 |  |

| The Roasting Company Limited (Registered number: 05635309) |

Balance Sheet

31 December 2024

| 2024 | 2023 |

| as restated |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 10 | 1,938,093 |  | 2,061,218 |  |

CURRENT ASSETS

Stocks | 11 | 1,955,018 |  | 2,010,918 |  |

Debtors | 12 | 2,652,644 |  | 4,470,777 |  |

Cash at bank | 3,018,154 |  | 1,660,614 |  |

7,625,816 |  | 8,142,309 |  |

CREDITORS

Amounts falling due within one year | 13 | 2,958,535 |  | 3,601,050 |  |

NET CURRENT ASSETS | 4,667,281 |  | 4,541,259 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,605,374 |  | 6,602,477 |  |

PROVISIONS FOR LIABILITIES | 15 | 467,425 |  | 507,150 |  |

NET ASSETS | 6,137,949 |  | 6,095,327 |  |

CAPITAL AND RESERVES

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

Retained earnings | 17 | 6,137,849 |  | 6,095,227 |  |

SHAREHOLDERS' FUNDS | 6,137,949 |  | 6,095,327 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

J L Priestley - Director

R J Messenger - Director

| The Roasting Company Limited (Registered number: 05635309) |

Statement of Changes in Equity

for the Year Ended 31 December 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2023 | 100 |  | 8,911,707 |  | 8,911,807 |  |

Prior year adjustment | - |  | (289,634 | ) | (289,634 | ) |

As restated | 100 |  | 8,622,073 |  | 8,622,173 |  |

Changes in equity

Dividends | - |  | (3,764,706 | ) | (3,764,706 | ) |

Total comprehensive income | - |  | 1,237,860 |  | 1,237,860 |  |

Balance at 31 December 2023 | 100 |  | 6,095,227 |  | 6,095,327 |  |

Changes in equity

Dividends | - |  | (1,800,000 | ) | (1,800,000 | ) |

Total comprehensive income | - |  | 1,842,622 |  | 1,842,622 |  |

Balance at 31 December 2024 | 100 |  | 6,137,849 |  | 6,137,949 |  |

| The Roasting Company Limited (Registered number: 05635309) |

Cash Flow Statement

for the Year Ended 31 December 2024

| 2024 |  | 2023

| as restated |

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 4,725,672 |  | 3,073,025 |  |

Interest paid | (203,940 | ) | (281,801 | ) |

Tax paid | (327,795 | ) | (585,684 | ) |

Net cash from operating activities | 4,193,937 |  | 2,205,540 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (160,933 | ) | (216,375 | ) |

Net cash from investing activities | (160,933 | ) | (216,375 | ) |

Cash flows from financing activities

New loans in year | - |  | 3,516,158 |  |

Loan repayments in year | (855,933 | ) | (2,860,299 | ) |

Equity dividends paid | (1,800,000 | ) | (3,764,706 | ) |

Net cash from financing activities | (2,655,933 | ) | (3,108,847 | ) |

Increase/(decrease) in cash and cash equivalents | 1,377,071 |  | (1,119,682 | ) |

Cash and cash equivalents at beginning of year | 2 | 1,641,083 |  | 2,760,765 |  |

Cash and cash equivalents at end of year | 2 | 3,018,154 |  | 1,641,083 |  |

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Cash Flow Statement

for the Year Ended 31 December 2024

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

| 2024 |  | 2023

| as restated |

£ | £ |

| Profit before taxation | 2,461,611 |  | 1,615,220 |  |

| Depreciation charges | 284,058 |  | 300,497 |  |

| Finance costs | 203,940 |  | 281,801 |  |

2,949,609 |  | 2,197,518 |  |

| Decrease/(increase) in stocks | 55,900 |  | (608,599 | ) |

| Decrease in trade and other debtors | 1,818,133 |  | 1,599,982 |  |

| Decrease in trade and other creditors | (97,970 | ) | (115,876 | ) |

| Cash generated from operations | 4,725,672 |  | 3,073,025 |  |

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 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 3,018,154 |  | 1,660,614 |  |

| Bank overdrafts | - |  | (19,531 | ) |

3,018,154 |  | 1,641,083 |  |

| Year ended 31 December 2023

| 31.12.23 |  | 1.1.23

| as restated |

£ | £ |

| Cash and cash equivalents | 1,660,614 |  | 2,760,765 |  |

| Bank overdrafts | (19,531 | ) | - |  |

1,641,083 |  | 2,760,765 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.1.24 | Cash flow | At 31.12.24

£ | £ | £ |

| Net cash |

| Cash at bank | 1,660,614 |  | 1,357,540 |  | 3,018,154 |  |

| Bank overdrafts | (19,531 | ) | 19,531 |  | - |  |

1,641,083 |  | 1,377,071 |  | 3,018,154 |  |

| Total | 1,641,083 |  | 1,377,071 |  | 3,018,154 |  |

4. | MAJOR NON-CASH TRANSACTIONS

| During the year, the company declared dividends of £1,770,000, which were not paid until subsequent to the year end. As such, these dividends are disclosed as non-cash financing activities.

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

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

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

| The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

| Critical accounting judgements and key sources of estimation uncertainty

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Useful economic lives

| Tangible fixed assets are depreciated over the useful lives of the related assets taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

| Turnover

| The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

| Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Plant, machinery and equipment 10-20% Straight Line

| Fixtures and fittings 10% Straight Line

| Equipment 20% Straight Line

| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and. where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

| Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets

| Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

| Other financial assets

| Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

| Impairment of financial assets

| Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

| Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Derecognition of financial assets

| Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

| Classification of financial liabilities

| 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 company after deducting all of its liabilities.

| Basic financial liabilities

| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

2. | ACCOUNTING POLICIES - continued

| Other financial liabilities

| Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

| Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

| Derecognition of financial liabilities

| Financial liabilities are derecognised v/hen the company's contractual obligations expire or are discharged or cancelled.

| Taxation

| The tax expense represents the sum of the tax currently payable and deferred tax.

| Current tax

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, ora right to pay less tax.

| Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

| Deferred tax is measured on an undiscounted basis at the rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Foreign currencies

| Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

| Pension costs and other post-retirement benefits

| Payments to defined contribution benefit schemes are charged as an expense as they fall due.

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 2024 |  | 2023

| as restated |

£ | £ |

| Sale of goods | 13,943,484 |  | 15,458,711 |  |

13,943,484 |  | 15,458,711 |  |

| An analysis of turnover by geographical market is given below:

| 2024 |  | 2023

| as restated |

£ | £ |

| United Kingdom | 13,943,484 |  | 15,458,711 |  |

13,943,484 |  | 15,458,711 |  |

4. | EMPLOYEES AND DIRECTORS

| 2024 |  | 2023

| as restated |

£ | £ |

| Wages and salaries | 1,329,535 |  | 1,156,432 |  |

| Social security costs | 138,325 |  | 118,544 |  |

| Other pension costs | 20,998 |  | 9,024 |  |

1,488,858 |  | 1,284,000 |  |

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

| 2024 |  | 2023

| as restated |

| Production staff | 26 |  | 24 |  |

| Administration staff | 8 |  | 9 |  |

| Management staff | 1 |  | 1 |  |

35 |  | 34 |  |

| 2024 |  | 2023

| as restated |

£ | £ |

| Directors' remuneration | 50,000 |  | 50,000 |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2024 |  | 2023

| as restated |

£ | £ |

| Depreciation - owned assets | 284,058 |  | 300,497 |  |

| Auditors' remuneration | 21,117 |  | 28,082 |  |

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2024 |  | 2023

| as restated |

£ | £ |

| Bank interest on loans and

| overdrafts | 16,092 |  | 20,167 |  |

| Interest payable to group

| companies | 187,848 |  | 261,634 |  |

203,940 |  | 281,801 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 2024 |  | 2023

| as restated |

£ | £ |

| Current tax:

| UK corporation tax | 658,714 |  | 397,824 |  |

| Deferred tax | (39,725 | ) | (20,464 | ) |

| Tax on profit | 618,989 |  | 377,360 |  |

| 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:

| 2024 |  | 2023

| as restated |

£ | £ |

| Profit before tax | 2,461,611 |  | 1,615,220 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%) | 615,403 |  | 379,900 |  |

| Effects of:

| Expenses not deductible for tax purposes | 3,555 |  | (29 | ) |

| Depreciation in excess of capital allowances | 39,756 |  | 14,501 |  |

| Effect of change in corporation tax rate | - |  | 3,452 |  |

| Deferred taxation | (39,725 | ) | (20,464 | ) |

| Total tax charge | 618,989 |  | 377,360 |  |

8. | DIVIDENDS

| 2024 |  | 2023

| as restated |

£ | £ |

| Ordinary shares of £1 each

| Interim | 1,800,000 |  | 3,764,706 |  |

9. | PRIOR YEAR ADJUSTMENT

| During the year, the company identified that insurance proceeds relating to the fire back in 2021 had not been accounted for correctly in prior periods. As a result, a prior year adjustment has been made to restate the comparative figures. This has resulted in a reduction to retained earnings in the comparative period of £289,634. Comparative figures for the year ended 31 December 2023 have been restated accordingly. This has also reduced opening equity of the comparative year by £289,634 to £8,622,073.

| The adjustment has been made in accordance with FRS 102 Section 10 - Accounting Policies, Estimates and Errors, which requires retrospective restatement unless impracticable.

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

10. | TANGIBLE FIXED ASSETS

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2024 | 3,242,668 |  | 69,616 |  | 36,287 |  | 3,348,571 |  |

| Additions | 120,980 |  | 17,218 |  | 22,735 |  | 160,933 |  |

| At 31 December 2024 | 3,363,648 |  | 86,834 |  | 59,022 |  | 3,509,504 |  |

| DEPRECIATION

| At 1 January 2024 | 1,232,363 |  | 32,767 |  | 22,223 |  | 1,287,353 |  |

| Charge for year | 265,391 |  | 9,957 |  | 8,710 |  | 284,058 |  |

| At 31 December 2024 | 1,497,754 |  | 42,724 |  | 30,933 |  | 1,571,411 |  |

| NET BOOK VALUE

| At 31 December 2024 | 1,865,894 |  | 44,110 |  | 28,089 |  | 1,938,093 |  |

| At 31 December 2023 | 2,010,305 |  | 36,849 |  | 14,064 |  | 2,061,218 |  |

11. | STOCKS

2024 | 2023 |

| as restated |

£ | £ |

| Raw materials | 1,808,013 |  | 1,854,252 |  |

| Finished goods | 147,005 |  | 156,666 |  |

1,955,018 |  | 2,010,918 |  |

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

2024 | 2023 |

| as restated |

£ | £ |

| Trade debtors | 2,587,656 |  | 3,193,679 |  |

| Prepayments and accrued income | 64,988 |  | 1,277,098 |  |

2,652,644 |  | 4,470,777 |  |

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

2024 | 2023 |

| as restated |

£ | £ |

| Bank loans and overdrafts (see note 14) | - |  | 19,531 |  |

| Trade creditors | 1,169,567 |  | 1,097,928 |  |

| Amounts owed to group undertakings | 605,484 |  | 1,461,417 |  |

| Tax | 479,467 |  | 148,548 |  |

| Social security and other taxes | 33,543 |  | 34,250 |  |

| VAT | 185,151 |  | 714,886 |  |

| Other creditors | - |  | 21,446 |  |

| Accruals and deferred income | 485,323 |  | 103,044 |  |

2,958,535 |  | 3,601,050 |  |

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

14. | LOANS

| An analysis of the maturity of loans is given below:

2024 | 2023 |

| as restated |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | - |  | 19,531 |  |

15. | PROVISIONS FOR LIABILITIES

2024 | 2023 |

| as restated |

£ | £ |

| Deferred tax | 467,425 |  | 507,150 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 507,150 |  |

| Credit to Income Statement during year | (39,725 | ) |

| Balance at 31 December 2024 | 467,425 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: |  | as restated |

£ | £ |

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

17. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2024 | 6,095,227 |  |

| Profit for the year | 1,842,622 |  |

| Dividends | (1,800,000 | ) |

| At 31 December 2024 | 6,137,849 |  |

18. | CONTINGENT LIABILITIES

| The company has entered into an intercompany guarantee to secure the borrowings of the Melbourne Holdings Limited Group.

19. | RELATED PARTY DISCLOSURES

| Entities with control, joint control or significant influence over the entity

2024 | 2023 |

| as restated |

£ | £ |

| Sales | 42 |  | 70 |  |

| Purchases | 344,685 |  | 519,552 |  |

| Interest charged | 187,848 |  | 261,634 |  |

| Amount due to related party | 605,720 |  | 1,179,486 |  |

| The Roasting Company Limited (Registered number: 05635309) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

19. | RELATED PARTY DISCLOSURES - continued

| Other related parties

2024 | 2023 |

| as restated |

£ | £ |

| Sales | 5,570 |  | 28,431 |  |

| Purchases | 4,437,147 |  | 4,714,543 |  |

| Amount due from related party | 1,522 |  | - |  |

| Amount due to related party | 615,408 |  | 13,461 |  |

20. | ULTIMATE CONTROLLING PARTY

| The company is 85% owned subsidiary of Melbourne Food Group Limited. Melbourne Food Group Limited is a 100% owned subsidiary of Melbourne Holdings Limited, which is the ultimate holding company.

| Melbourne Holdings Limited's registered office is:

| Melbourne Park House

| Royal Oak Business Park

| East Road

| Sleaford

| Lincolnshire

| NG34 7EQ

| Consolidated financial statements for the ultimate holding company are filed with the Registrar of Companies where copies may be obtained.

| Melbourne Holdings Limited is ultimately controlled by J L Priestley.