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REGISTERED NUMBER: 10834664 (England and Wales)

| GROUP STRATEGIC REPORT, |

| REPORT OF THE DIRECTORS AND |

| CONSOLIDATED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 30 JUNE 2025 |

| FOR |

| CROP'S & PARTNERS UK LIMITED |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

Page |

Company Information | 1 |

Group Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 7 |

Consolidated Statement of Comprehensive Income | 10 |

Consolidated Balance Sheet | 11 |

Company Balance Sheet | 12 |

Consolidated Statement of Changes in Equity | 13 |

Company Statement of Changes in Equity | 14 |

Consolidated Cash Flow Statement | 15 |

Notes to the Consolidated Cash Flow Statement | 16 |

Notes to the Consolidated Financial Statements | 17 |

CROP'S & PARTNERS UK LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 30 JUNE 2025

| DIRECTORS: | M D Cullinane

| M Delbaere

| P A Weatherby

| I G Weatherby

| SECRETARY: | M D Cullinane

| REGISTERED OFFICE: | 254 Capability Green

| Luton

| Bedfordshire

| LU1 3LU

| REGISTERED NUMBER: | 10834664 (England and Wales)

| AUDITORS: | GBJ Financial Limited

| Statutory Auditor

| Sterling House

| 27 Hatchlands Road

| Redhill

| Surrey

| RH1 6RW

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 JUNE 2025

The directors present their strategic report of the company and the group for the year ended 30 June 2025.

REVIEW OF BUSINESS

The decrease in turnover can be partly attributed to moving sales to an EU platform due to customers' changing needs. Product development will continue to be a key focus, as the company innovates within the different sectors.

PRINCIPAL RISKS AND UNCERTAINTIES

Crop's & Partners UK Limited ('the group') uses various financial instruments including bank guarantees, cash and other items, such as trade debtors and trade creditors, that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the group's operations. The existence of these financial instruments exposes the group to a number of financial risks.

The main risks arising from the group's financial instruments are market risk, currency risk, credit risk and liquidity risk. The directors review and agree policies, which remain unchanged from previous years, for managing each of these risks, summarised below.

Market risk

Market risk encompasses both currency risk and price risk. The group's policies for managing currency risk are considered along with those for managing cash flow.

Currency risk

The group is exposed to transaction foreign exchange risk. Transaction exposures, including those associated with forecast transactions, are monitored with daily market expectations and forecasts and are hedged when known, principally using forward currency contracts or options.

Credit risk

The group's principal financial assets are cash and trade debtors. The principal credit risk arises therefore from its trade debtors.

In order to manage credit risk, the directors set credit limits for customers, based on a combination of payment history and third party credit references. These limits are reviewed by the Financial Director on a regular basis in conjunction with debt aging, collection history and market awareness of the group's customers.

Liquidity risk

The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably.

SECTION 172(1) STATEMENT

This section serves as our S172 statement and should be read in conjunction with the whole Strategic Report. S172 Companies Act 2006 requires directors to take into consideration the interests of stakeholders in their decision making. The directors continue to have regard to the interests of the group's employees and other stakeholders including the impact of its activities on the community, the environment and the group's reputation when making decisions. The directors consider that acting in good faith and fairly between stakeholders is most likely to promote the success of the group. Our principal stakeholders are engaged with on a regular basis.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 JUNE 2025

FINANCIAL KEY PERFORMANCE INDICATORS

Financial

The group reports on a number of key performance indicators and ratios on a monthly basis and measured its financial performance using the following main measures:

i) Turnover is one measure of the company's success in retaining and winning new business. The turnover between 2024 and 2025 decreased, in part due to the movement of sales from UK to EU flow.

ii) Cash collection is an important part of effective capital and treasury measurement. At the financial year end debtor days were 46 days (2024: 56 days).

iii) Operating profit of £4,663,397 (2024: £5,252,958) which includes £100,000 of accrued bad debt.

Non-financial

The group measures its non-financial performance in several areas, as follows:

- The securing of new business within our customer partner profile is a critical area if the group is to continue to grow. The number of new customers won during the year is also closely monitored against targets set by the directors. During the financial year, the market place presented many challenges to possible growth, however progress was made in this area and was therefore considered satisfactory by the directors.

- The level of business loss is also measured. Business loss is categorised into two areas - those under our control and those outside of our control (customers going into receivership, closing site, etc). The level of business loss in both areas was as expected.

- Quality control is a further critical area of the business. A key measurement is the number of customer complaints per packs of produce. The level of customer complaints continued to fall in line with the expectation of directors.

FUTURE DEVELOPMENTS

Product development will continue to be a key focus across all sectors.

POSITION OF THE GROUP AT THE PERIOD END

The results for the year and the financial position at the year end were considered satisfactory by the directors who continue to drive growth and customer partner development.

ON BEHALF OF THE BOARD:

P A Weatherby - Director

9 March 2026

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 JUNE 2025

The directors present their report with the financial statements of the company and the group for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the provision of frozen fruit, vegetables and ready meals to the Retail and Manufacturing industry.

DIVIDENDS

The total distribution of dividends for the year ended 30 June 2025 will be £1,900,000.

DIRECTORS

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

M D Cullinane

M Delbaere

P A Weatherby

I G Weatherby

CHARITABLE DONATIONS

The group made charitable contributions of £32,015 in the year (2024: £18,373).

DISABLED EMPLOYEES

The group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. Where existing employees become disabled, it is the company's policy wherever practicable to provide continuing employment under normal terms and conditions and to provide training, career development and promotion to disabled employees wherever appropriate.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

The directors regularly engage with all stakeholders including customers, suppliers and other business partners. This enables the directors to enhance market focus, improve decision making and promote the long-term success of the company more effectively, and includes:

- regular engagement with major customers in support of our key account programme;

- regular meetings with major suppliers to ensure we are supporting their efforts to bring products and services to market at fair prices, with rigorous quality control and high levels of availability;

- regular contact with our bankers and professional advisers to discuss our strategy and performance;

- regular reviews with employees of their role in the business and how it contributes to the overall business performance.

STREAMLINED ENERGY AND CARBON REPORTING

Environmental Matters and Streamlined Energy and Carbon Reporting (SECR)

The company takes environmental matters seriously and continues to improve its impact on the local and wider environment.

From 1 August 2019 we are required to report under the new SECVR regulations which provides increased transparency on our energy efficiency and emissions as a business.

Reporting methodology

The information has been provided using the GHG Protocol Corporate Accounting and Reporting Standard and the 2019 UK Government Environmental Reporting Guidelines.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 JUNE 2025

Intensity Ratio

The intensity ratio chosen was tC02e per full time employee. This was chosen as it was deemed to be the best metric which could be constantly used over time and would best reflect changes in our energy consumption, but also reflect changes in our operations.

| Miles / Staff |  |

| numbers |  | Kwh |  | tC02e |  | % of total |

| 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |

Gas - total KWh Used for the year |  |  | - |  | - |  | - |  | - |  | - |  | - |

Electricity - total KWh Used for the year |  |  | 55,932 |  | 55,892 |  | 9.90 |  | 11.87 |  | 21 |  | 94 |

Transport - Mileage for the year |  |  | 43,637 |  | 25,890 |  |  | 11.74 |  | 6.95 |  | 79 |  | 6 |

Number of staff / total C02 |  |  | 44 |  | 46 |  |  | 0.49 |  | 0.41 |  |

Tonnes of C02e per Employee |  |

Energy Efficiency and Environmental Actions

The company has started to move its motor fleet away from diesel/petrol cars to hybrid models to help cut emissions. The business has been looking at ways to reduce plastic usage with our customers and suppliers during the year and we have made significant progress to date in reducing usage. This is an ongoing project.

The business has also acquired food recycling (compost) bins so we can dispose of certain produce used in our daily food testing and quality control processes as well as utilising various recycling bins.

DISCLOSURE IN THE STRATEGIC REPORT

Details of items required under Schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports Regulations) 2008 are provided in the Strategic Report on pages 2 to 3.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

REPORT OF THE DIRECTORS

FOR THE YEAR ENDED 30 JUNE 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group 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), 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 the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

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

- | make judgements and accounting estimates that are reasonable and prudent;

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- | 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

P A Weatherby - Director

9 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CROP'S & PARTNERS UK LIMITED

Opinion

We have audited the financial statements of Crop's & Partners UK Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated 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 group's and of the parent company affairs as at 30 June 2025 and of the group's 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 group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Group 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CROP'S & PARTNERS UK LIMITED

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 Group 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 Group 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 group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- | the parent company financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page six, 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 group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

CROP'S & PARTNERS UK 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:

- we identified the laws and regulations applicable to the company through discussions with directors and from our knowledge and experience of the frozen food 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 the Companies Act 2006, taxation legislation and data protection, anti-bribery, employments and health and safety legislation;

Additionally assessed the susceptibility of the company's financial statements to material misstatement, including obtaining and understanding how fraud might occur by:

- making enquires 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.

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.

Jonathan Hillier (Senior Statutory Auditor)

for and on behalf of GBJ Financial Limited

Statutory Auditor

Sterling House

27 Hatchlands Road

Redhill

Surrey

RH1 6RW

9 March 2026

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 JUNE 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

TURNOVER | 3 | 110,552,152 |  | 121,016,647 |  |

Cost of sales | 101,803,978 |  | 111,408,240 |  |

GROSS PROFIT | 8,748,174 |  | 9,608,407 |  |

Administrative expenses | 4,233,456 |  | 4,211,624 |  |

4,514,718 |  | 5,396,783 |  |

Other operating income | 4 | 148,679 |  | (143,825 | ) |

OPERATING PROFIT | 6 | 4,663,397 |  | 5,252,958 |  |

Income from interest in associated undertakings | 37,268 |  | 77,428 |  |

Interest receivable and similar income | 7 | 408,816 |  | 160,546 |  |

|  |  | 446,084 |  |  |  |  | 237,974 |  |

5,109,481 |  | 5,490,932 |  |

Interest payable and similar expenses | 8 | 432 |  | 244 |  |

PROFIT BEFORE TAXATION | 5,109,049 |  | 5,490,688 |  |

Tax on profit | 9 | 1,342,188 |  | 1,342,370 |  |

PROFIT FOR THE FINANCIAL YEAR | 3,766,861 |  | 4,148,318 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 3,766,861 |  | 4,148,318 |  |

Profit attributable to:

Owners of the parent | 3,766,861 |  | 4,148,318 |  |

Total comprehensive income attributable to:

Owners of the parent | 3,766,861 |  | 4,148,318 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

CONSOLIDATED BALANCE SHEET

30 JUNE 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 12 | 19,035 |  | 29,380 |  |

Investments | 13 |

| Interest in associate | 3,936,890 |  | 3,899,622 |  |

| Other investments | 8,168,649 |  | 2,609,702 |  |

12,124,574 |  | 6,538,704 |  |

CURRENT ASSETS

Stocks | 14 | 2,034,556 |  | 1,398,601 |  |

Debtors | 15 | 15,388,386 |  | 15,470,132 |  |

Cash in hand | 1,890,716 |  | 5,267,312 |  |

19,313,658 |  | 22,136,045 |  |

CREDITORS

Amounts falling due within one year | 16 | 20,025,362 |  | 19,128,740 |  |

NET CURRENT (LIABILITIES)/ASSETS | (711,704 | ) | 3,007,305 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 11,412,870 |  | 9,546,009 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 200 |  | 200 |  |

Share premium | 20 | 3,599,802 |  | 3,599,802 |  |

Retained earnings | 20 | 7,812,868 |  | 5,946,007 |  |

SHAREHOLDERS' FUNDS | 11,412,870 |  | 9,546,009 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 9 March 2026 and were signed on its behalf by:

P A Weatherby - Director

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

COMPANY BALANCE SHEET

30 JUNE 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Tangible assets | 12 | - |  | - |  |

Investments | 13 | 15,590,843 |  | 10,031,896 |  |

15,590,843 |  | 10,031,896 |  |

CURRENT ASSETS

Debtors | 15 | 2,161,917 |  | 2,000,001 |  |

CREDITORS

Amounts falling due within one year | 16 | 2,161,916 |  | 2,000,000 |  |

NET CURRENT ASSETS | 1 |  | 1 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 15,590,844 |  | 10,031,897 |  |

CREDITORS

Amounts falling due after more than one year | 17 | 11,990,843 |  | 6,431,896 |  |

NET ASSETS | 3,600,001 |  | 3,600,001 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 200 |  | 200 |  |

Share premium | 20 | 3,599,801 |  | 3,599,801 |  |

SHAREHOLDERS' FUNDS | 3,600,001 |  | 3,600,001 |  |

Company's profit for the financial year | 1,900,000 |  | 2,000,000 |  |

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

The financial statements were approved by the Board of Directors and authorised for issue on 9 March 2026 and were signed on its behalf by:

P A Weatherby - Director

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2025

Called up |  |

share | Retained | Share | Total |

capital | earnings | premium | equity |

| £ | £ | £ | £

Balance at 1 July 2023 | 200 |  | 3,797,689 |  | 3,599,802 |  | 7,397,691 |  |

Changes in equity

Dividends | - |  | (2,000,000 | ) | - |  | (2,000,000 | ) |

Total comprehensive income | - |  | 4,148,318 |  | - |  | 4,148,318 |  |

Balance at 30 June 2024 | 200 |  | 5,946,007 |  | 3,599,802 |  | 9,546,009 |  |

Changes in equity

Dividends | - |  | (1,900,000 | ) | - |  | (1,900,000 | ) |

Total comprehensive income | - |  | 3,766,861 |  | - |  | 3,766,861 |  |

Balance at 30 June 2025 | 200 |  | 7,812,868 |  | 3,599,802 |  | 11,412,870 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 JUNE 2025

Called up |  |

share | Retained | Share | Total |

capital | earnings | premium | equity |

| £ | £ | £ | £

Balance at 1 July 2023 | 200 |  | - |  | 3,599,801 |  | 3,600,001 |  |

Changes in equity

Dividends | - |  | (2,000,000 | ) | - |  | (2,000,000 | ) |

Total comprehensive income | - |  | 2,000,000 |  | - |  | 2,000,000 |  |

Balance at 30 June 2024 | 200 |  | - |  | 3,599,801 |  | 3,600,001 |  |

Changes in equity

Dividends | - |  | (1,900,000 | ) | - |  | (1,900,000 | ) |

Total comprehensive income | - |  | 1,900,000 |  | - |  | 1,900,000 |  |

Balance at 30 June 2025 | 200 |  | - |  | 3,599,801 |  | 3,600,001 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

2025 | 2024 |

| Notes | £ | £

Cash flows from operating activities

Cash generated from operations | 1 | 5,182,672 |  | 12,311,980 |  |

Interest paid | (432 | ) | (244 | ) |

Tax paid | (1,507,257 | ) | (1,463,592 | ) |

Net cash from operating activities | 3,674,983 |  | 10,848,144 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (1,448 | ) | (18,986 | ) |

Purchase of fixed asset investments | - |  | (3,822,194 | ) |

Loan to associate | (5,558,947 | ) | (2,609,702 | ) |

Interest received | 408,816 |  | 160,546 |  |

Net cash from investing activities | (5,151,579 | ) | (6,290,336 | ) |

Cash flows from financing activities

Equity dividends paid | (1,900,000 | ) | (2,000,000 | ) |

Net cash from financing activities | (1,900,000 | ) | (2,000,000 | ) |

(Decrease)/increase in cash and cash equivalents | (3,376,596 | ) | 2,557,808 |  |

Cash and cash equivalents at beginning of year | 2 | 5,267,312 |  | 2,709,504 |  |

Cash and cash equivalents at end of year | 2 | 1,890,716 |  | 5,267,312 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

FOR THE YEAR ENDED 30 JUNE 2025

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

2025 | 2024 |

| £ | £

| Profit before taxation | 5,109,049 |  | 5,490,688 |  |

| Depreciation charges | 11,782 |  | 8,503 |  |

| Share of profit of associate | (37,268 | ) | (77,428 | ) |

| Finance costs | 432 |  | 244 |  |

| Finance income | (446,084 | ) | (237,974 | ) |

4,637,911 |  | 5,184,033 |  |

| (Increase)/decrease in stocks | (635,955 | ) | 1,218,464 |  |

| Decrease in trade and other debtors | 92,446 |  | 8,025,262 |  |

| Increase/(decrease) in trade and other creditors | 1,088,270 |  | (2,115,779 | ) |

| Cash generated from operations | 5,182,672 |  | 12,311,980 |  |

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 30 June 2025

| 30.6.25 |  | 1.7.24

| £ | £

| Cash and cash equivalents | 1,890,716 |  | 5,267,312 |  |

| Year ended 30 June 2024

| 30.6.24 |  | 1.7.23

| £ | £

| Cash and cash equivalents | 5,267,312 |  | 2,709,504 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.7.24 | Cash flow | At 30.6.25

| £ | £ | £

| Net cash |

| Cash at bank and in hand | 5,267,312 |  | (3,376,596 | ) | 1,890,716 |  |

5,267,312 |  | (3,376,596 | ) | 1,890,716 |  |

| Total | 5,267,312 |  | (3,376,596 | ) | 1,890,716 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2025

1. | STATUTORY INFORMATION

| Crop's & Partners UK 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 General Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| specified within these accounting policies and in accordance with Financial Reporting Standard 102,

| the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the

| Companies Act 2006.

| The preparation of financial statements in compliance with FRS 102 requires the use of certain

| critical accounting estimates. It also requires management to exercise judgment in applying the

| company's accounting policies.

| The figures in the accounts are rounded to the nearest £.

| The following principal accounting policies have been applied:

| Basis of consolidation

| The consolidated profit and loss account and balance sheet include the financial statements of the company and its subsidiary undertakings made up to 30 June 2025 using the purchase method. The results of subsidiaries sold or acquired are included in the profit and loss account up to, or from, the date control passes. Intra-group sales and profits are eliminated fully on consolidation.

| Critical accounting judgements and key sources of estimation uncertainty

| In preparing these financial statements, the directors have made the following judgements:

| - Determine whether leases entered into by the group as a lessor are operating or finance leases.

| These decisions depend on an assessment of whether the risks and rewards of ownership have

| been transferred from the lessor to the lessee on a lease by lease basis.

| - Determine whether there are indicators of impairment of the group's tangible assets. Factors

| taken into consideration in reaching such a decision include the economic viability and expected

| future financial performance of the asset and where it is a component of a larger cash-generating

| unit, the viability and expected future performance of that unit.

| Other key sources of estimation uncertainty:

| - Trade debtors (see note 15)

| Determine the recoverability of trade receivables via regular review in the light of the available

| economic information specific to each receivable with specific provisions recognised for balances

| considered to be irrecoverable.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Turnover and revenue recognition

| Turnover represents amounts receivable for the sale of frozen foods, excluding discounts, rebates, value added tax and other sales taxes.

| Revenue is recognised as and when the company satisfies a performance obligation and the significant risks and rewards of ownership have been transferred to the customer, which may be upon shipment, acceptance of the goods by the customer, or the product being ready for delivery, based on specific contract terms.

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historic cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

| Depreciation is provided on the following basis:

| Plant & machinery - between 25% - 33.3% on cost

| The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the the carrying amount and are recognised in the Statement of Comprehensive Income.

| Investments in associates

| Investments in associate undertakings are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.

| Stocks

| Stock is stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

| At each reporting date, stock is assessed for obsolescence. If stock is impaired or slow moving, the

| carrying amount is reduced to its selling price less costs to sell. The impairment loss is recognised

| immediately in profit or loss.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| 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 losses relating to financial liabilities are included in the Statement of Comprehensive Income. Finance presented as such in the Statement of Financial Position. Finance costs and gains or 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 directly to equity.

| Financial instruments that are derivatives are valued at each period end, and the movement in value is taken to the Statement of Comprehensive Income.

| Current taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Foreign currency translation

| The group's functional and presentational currency is GBP.

| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

| At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and when fair value was determined. non-monetary items measured at fair value are measured using the exchange rate

| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

| Operating leases

| Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit and loss on a straight-line basis over the period of the lease.

| Pension costs and other post-retirement benefits

| Defined contribution pension plan

| The group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the group has no further payment obligations.

| The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the group in independently administered funds.

| Invoice discounting

| Trade Debtors are subject to an invoice discounting facility whereby an advance is received based upon, and secured upon, trade debtors. The group has retained significant risks and rewards relating to the discounted debts and separate presentation has been adopted whereby the gross debt and a corresponding liability in respect of the advance received is shown separately on the Balance Sheet. The interest element of the invoice discounter's charge is recognised as it accrues and is included in the Profit and Loss Account.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Going concern

| In preparing the financial statements the directors are required to assess the group's ability to continue to trade as a going concern for the foreseeable future.

| In undertaking this assessment, the directors have given due consideration to the group's banking facilities, historical and current trading, together with the forward-looking projections. The group has prepared detailed cashflow forecasts and undertaken scenario modelling.

| The group have reviewed the cash flow forecasts and based on their best assessment therefore believe that the group will have sufficient financing in place to ensure cash flow requirements are satisfied and that there are no material uncertainties. As such, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

| The group have also considered the impact of events in Ukraine and the wider economy, including the impact of inflation, in making this assessment.

| Impairment of fixed assets

| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

| Business combinations

| Business combinations are accounted for using the purchase method.

| The cost of a business combination is measured as the aggregate of the fair values, at the acquisition date, of assets given, liabilities incurred or assumed, and equity instruments issued plus any costs directly attributable to the busines combination.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

2. | ACCOUNTING POLICIES - continued

| Borrowing costs

| All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.

| Cash and cash equivalents

| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

| Finance costs

| Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised when approved by the shareholders at an annual general meeting.

| Dividends

| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

| Debtors

| Short-term debtors are measured at the transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

| Creditors

| Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

| Provisions for liabilities

| Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

| Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure to settle the obligation, taking into account relevant risk and uncertainties.

| When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

3. | TURNOVER

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

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

2025 | 2024 |

| £ | £

| United Kingdom | 109,919,135 |  | 120,252,587 |  |

| Rest of the world | 633,017 |  | 764,060 |  |

110,552,152 |  | 121,016,647 |  |

4. | OTHER OPERATING INCOME

2025 | 2024 |

| £ | £

| Exchange gains | 148,679 |  | (143,825 | ) |

5. | EMPLOYEES AND DIRECTORS

2025 | 2024 |

| £ | £

| Wages and salaries | 2,409,243 |  | 2,471,629 |  |

| Social security costs | 300,826 |  | 298,283 |  |

| Other pension costs | 74,653 |  | 71,042 |  |

2,784,722 |  | 2,840,954 |  |

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

2025 | 2024 |

| Directors | 2 |  | 2 |  |

| Administration | 29 |  | 31 |  |

| Sales | 12 |  | 12 |  |

43 |  | 45 |  |

2025 | 2024 |

| £ | £

| Directors' remuneration | 216,798 |  | 209,703 |  |

| Information regarding the highest paid director is as follows:

2025 | 2024 |

| £ | £

| Emoluments etc | 198,258 |  | 191,343 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

6. | OPERATING PROFIT

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

2025 | 2024 |

| £ | £

| Other operating leases | 160,100 |  | 154,165 |  |

| Depreciation - owned assets | 11,783 |  | 8,502 |  |

| Auditors' remuneration | 29,660 |  | 21,971 |  |

| Other non- audit services | 1,650 |  | 1,500 |  |

| Foreign exchange differences | (148,679 | ) | 143,825 |  |

7. | INTEREST RECEIVABLE AND SIMILAR INCOME |

2025 | 2024 |

| £ | £

| Deposit account interest | 169,079 |  | 44,186 |  |

| Intercompany interest received | 239,737 |  | 116,360 |  |

408,816 |  | 160,546 |  |

8. | INTEREST PAYABLE AND SIMILAR EXPENSES |

2025 | 2024 |

| £ | £

| Bank interest | 432 |  | 244 |  |

9. | 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 | 1,342,188 |  | 1,342,370 |  |

| Tax on profit | 1,342,188 |  | 1,342,370 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

9. | TAXATION - continued

| 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 | 5,109,049 |  | 5,490,688 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 1,277,262 |  | 1,372,672 |  |

| Effects of:

| Expenses not deductible for tax purposes | 30,063 |  | 4,297 |  |

| Capital allowances in excess of depreciation | - |  | (222 | ) |

| Depreciation in excess of capital allowances | 1,994 |  | - |  |

| Corporation tax under provision | 32,869 |  | (34,377 | ) |

| Total tax charge | 1,342,188 |  | 1,342,370 |  |

10. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.

11. | DIVIDENDS

2025 | 2024 |

| £ | £

| Ordinary shares of £1 each

| Interim | 1,900,000 |  | 2,000,000 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

12. | TANGIBLE FIXED ASSETS

| Group

Office |

equipment |

and | Motor | Computer |

furniture | vehicles | equipment | Totals |

| £ | £ | £ | £

| COST

| At 1 July 2024 | 36,564 |  | 12,180 |  | 74,939 |  | 123,683 |  |

| Additions | - |  | - |  | 1,448 |  | 1,448 |  |

| Disposals | (14,474 | ) | - |  | (30,188 | ) | (44,662 | ) |

| At 30 June 2025 | 22,090 |  | 12,180 |  | 46,199 |  | 80,469 |  |

| DEPRECIATION

| At 1 July 2024 | 29,654 |  | 1,373 |  | 63,276 |  | 94,303 |  |

| Charge for year | 2,902 |  | 3,045 |  | 5,836 |  | 11,783 |  |

| Eliminated on disposal | (14,474 | ) | - |  | (30,178 | ) | (44,652 | ) |

| At 30 June 2025 | 18,082 |  | 4,418 |  | 38,934 |  | 61,434 |  |

| NET BOOK VALUE

| At 30 June 2025 | 4,008 |  | 7,762 |  | 7,265 |  | 19,035 |  |

| At 30 June 2024 | 6,910 |  | 10,807 |  | 11,663 |  | 29,380 |  |

13. | FIXED ASSET INVESTMENTS

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

| £ | £ | £ | £

| Shares in group undertakings | - |  | - |  | 3,600,000 |  | 3,600,000 |  |

| Participating interests | 3,936,890 |  | 3,899,622 |  | 3,822,194 |  | 3,822,194 |  |

| Loans to undertakings in which the company has a participating interest | 8,168,649 |  | 2,609,702 |  | 8,168,649 |  | 2,609,702 |  |

12,105,539 |  | 6,509,324 |  | 15,590,843 |  | 10,031,896 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

13. | FIXED ASSET INVESTMENTS - continued

| Additional information is as follows:

| Group

Interest in |

associate |

| £

| COST

| At 1 July 2024 | 3,899,622 |  |

| Share of profit/(loss) | 37,268 |  |

| At 30 June 2025 | 3,936,890 |  |

| NET BOOK VALUE

| At 30 June 2025 | 3,936,890 |  |

| At 30 June 2024 | 3,899,622 |  |

| Company

Shares in |

group | Interest in |

undertakings | associate | Totals |

| £ | £ | £

| COST

| At 1 July 2024

| and 30 June 2025 | 3,600,000 |  | 3,822,194 |  | 7,422,194 |  |

| NET BOOK VALUE

| At 30 June 2025 | 3,600,000 |  | 3,822,194 |  | 7,422,194 |  |

| At 30 June 2024 | 3,600,000 |  | 3,822,194 |  | 7,422,194 |  |

| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

| Subsidiaries

| Crop's Foods Limited

| Registered office: 254 Capability Green, Luton, Beds, LU1 3LU UK

| Nature of business: Provision of wholesale frozen foods

% |

| Class of shares: | holding |

| Ordinary | 100.00 |

| Homestead Foods Limited

| Registered office: 254 Capability Green, Luton, Beds, LU1 3LU UK

| Nature of business: Importers and exporters of frozen foods

% |

| Class of shares: | holding |

| Ordinary A | 100.00 |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

13. | FIXED ASSET INVESTMENTS - continued

| Associated company

| Agri Po BV

| Registered office: Oostrozebeeksestraat 148, 8710 Wielsbeke, Belgium

| Nature of business: Holding company

% |

| Class of shares: | holding |

| Ordinary | 45.00 |

| Group

Loans to |

associates |

| £

| At 1 July 2024 | 2,609,702 |  |

| New in year | 5,558,947 |  |

| At 30 June 2025 | 8,168,649 |  |

| Company

Loans to |

associates |

| £

| At 1 July 2024 | 2,609,702 |  |

| New in year | 5,558,947 |  |

| At 30 June 2025 | 8,168,649 |  |

| In the opinion of the directors the valuation of the unlisted investments is not less than the amount shown in the balance sheet.

14. | STOCKS

| Group |

2025 | 2024 |

| £ | £

| Finished goods | 2,034,556 |  | 1,398,601 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

| £ | £ | £ | £

| Trade debtors | 13,903,933 |  | 15,125,702 |  | - |  | - |  |

| Amounts owed by group undertakings | 200,602 |  | 72,327 |  | 1,900,001 |  | 2,000,001 |  |

| Tax | 10,700 |  | - |  | - |  | - |  |

| VAT | 118,792 |  | 85,219 |  | - |  | - |  |

| Prepayments | 1,154,359 |  | 186,884 |  | 261,916 |  | - |  |

15,388,386 |  | 15,470,132 |  | 2,161,917 |  | 2,000,001 |  |

| Trade debtors at 30 June 2025 include £13,903,933 (2024: £14,882,678) pledged as security against amounts advanced in respect of the 'with recourse' Invoice Discounting Agreement.

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

| Group |  | Company |

2025 | 2024 | 2025 | 2024 |

| £ | £ | £ | £

| Trade creditors | 8,465,738 |  | 7,393,806 |  | - |  | - |  |

| Amounts owed to group undertakings | 8,058,601 |  | 8,434,815 |  | 950,000 |  | 1,000,000 |  |

| Tax | - |  | 154,369 |  | - |  | - |  |

| Social security and other taxes | 75,138 |  | 74,123 |  | - |  | - |  |

| Directors' current accounts | 950,000 |  | 1,000,000 |  | 950,000 |  | 1,000,000 |  |

| Accruals and deferred income | 2,475,885 |  | 2,071,627 |  | 261,916 |  | - |  |

20,025,362 |  | 19,128,740 |  | 2,161,916 |  | 2,000,000 |  |

17. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| Company |

2025 | 2024 |

| £ | £

| Amounts owed to group undertakings | 11,990,843 |  | 6,431,896 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

18. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| At the 30 June 2025 the company had future minimum lease payments under non-cancellable operating leases as follows:

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Land and buildings |  |

| Within 1 year |  | 26,175 |  | 78,526 |  |

| Between 2 and 5 years |  | - |  | 6,175 |  |

|  | 26,175 |  | 104,701 |  |

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Other |  |

| Within 1 year |  | 43,313 |  | 48,460 |  |

| Between 2 and 5 years |  | 41,225 |  | 21,048 |  |

|  | 84,538 |  | 69,508 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

value: |  | £ | £

| 200 | Ordinary | £1 | 200 |  | 200 |  |

20. | RESERVES

| Group

Retained | Share |

earnings | premium | Totals |

| £ | £ | £

| At 1 July 2024 | 5,946,007 |  | 3,599,802 |  | 9,545,809 |  |

| Profit for the year | 3,766,861 |  | - |  | 3,766,861 |  |

| Dividends | (1,900,000 | ) | - |  | (1,900,000 | ) |

| At 30 June 2025 | 7,812,868 |  | 3,599,802 |  | 11,412,670 |  |

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

20. | RESERVES - continued

| Company

Retained | Share |

earnings | premium | Totals |

| £ | £ | £

| At 1 July 2024 | - |  | 3,599,801 |  | 3,599,801 |  |

| Profit for the year | 1,900,000 |  | 1,900,000 |  |

| Dividends | (1,900,000 | ) | (1,900,000 | ) |

| At 30 June 2025 | - |  | 3,599,801 |  | 3,599,801 |  |

| All reserves in the current and previous year are distributable.

21. | ULTIMATE PARENT COMPANY

| Crop's Holding NV (incorporated in Belgium ) is regarded by the directors as being the company's ultimate parent company.

| The immediate and ultimate parent company is Crop's NV, a company incorporated in Belgium, that is beneficially owned by M Delbaere.

| The smallest group of undertakings for which group accounts are drawn up is Crop's & Partners UK Limited in the United Kingdom. The largest group of undertakings for which group accounts are drawn up is Crop's NV Group in Belgium.

22. | OTHER FINANCIAL COMMITMENTS

| At 30 June 2025 Crop's Foods Limited, a wholly owned subsidiary, had a commitment to purchase foreign currency amounting to £21,498,971 (2024: £32,953,497)

23. | RELATED PARTY DISCLOSURES

| Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

| During the year, total dividends of £950,000 were paid to the directors (2024: £1,000,000).

| During the year Crop's & Partners UK Limited (CPUK) loaned £4,953,778 to Agri Po BV, a company in which CPUK has a 45% interest. CPUK also loaned £605,169 to Nordleg Immo SASU, a company in which Agri Po BV indirectly has a 45% interest. The loans are long term with interest charged at Euribor 3M rate + 1%. During the year the interest received by the group amounted to £239,737.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

23. | RELATED PARTY DISCLOSURES - continued

| Related party transactions in connection with Crop's Foods Limited (the company), a wholly owned subsidiary, were as follows:

| During the year the company purchased goods to the value of £14,799,299 from Crop's Vegetables NV (Crop's VEG), and sold goods to the value of £312,735, a company in which Crop's NV has a 100% interest, on normal commercial terms. At the year end, in respect of trading balances, the company owed £1,456,205 to Crop's VEG and Crop's VEG owed the company £84,252.

| During the year the company purchased goods to the value of £5,478,165 from Crop's Fruits NV (Crop's Fruits), and sold goods to the value of £51,140, a company in which Crop's NV has a 100% interest, on normal commercial terms. At the year end, in respect of trading balances, the company owed £570,186 to Crop's Fruits and Crop's Fruits owed the company £1,707.

| During the year the company purchased goods to the value of £21,327,678 from Crop's Ready Meals NV (Crop's RM), and sold goods to the value of £156,532, a company in which Crop's NV has a 100% interest, on normal commercial terms. At the year end, in respect of trading balances, the company owed £2,720,621 to Crop's RM and Crop's RM owed the company £114,547.

| During the year the company purchased goods to the value of £17,009 from Crop's NV, and sold goods to the value of £Nil on normal commercial terms. At the year end, in respect of trading balances, the company owed £302 to Crop's NV.

| At the year end the company's immediate parent, Crop's & Partners UK Limited (CPUK), owed the company £11,990,843 in respect of a long term loan.The loan is interest free. CPUK has a 100% interest in the company.

| During the year the company purchased goods to the value of £Nil from Crop's Cold Store and sold goods to the value of £1,164, a company in which Crop's NV has a 100% interest, on normal commercial terms.

| During the year the company purchased goods to the value of £63,711 from Monliz Spain SLU, and sold goods to the value of £1,876 on normal commercial terms, a company in which Monliz Portugal SA has a 100% interest. Crop's VEG has a 50% interest in Monliz Portugal SA. At the year end, in respect of trading balances, the company was owed £95 from Monliz Spain SLU.

| During the year the company purchased goods to the value of £1,862,275 from Monliz Portugal SA, and sold goods to the value of £13,681 on normal commercial terms. At the year end, in respect of trading balances, the company owed £218,361 to Monliz Portugal SA and Monliz Portugal SA owed the company £47.

| As at 30 June 2025, Crop's VEG had a 50% interest in SA Hesbayefrost NV from which the company purchased goods to the value of £7,945,527 and sold goods to the value of £18,412 under normal commercial terms. At the year end the company owed £1,760,320 to SA Hesbayefrost NV and SA Hesbayefrost NV owed the company £139.

| During the year the company purchased goods to the value of £271,360 from Agram and sold goods to the value of £49,821, a company in which Crops NV has a 100% interest, on normal commercial terms. At the year end the company owed £77,900 to Agram.

CROP'S & PARTNERS UK LIMITED (REGISTERED NUMBER: 10834664)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 JUNE 2025

23. | RELATED PARTY DISCLOSURES - continued

| During the year the company purchased goods to the value of £2,525,071 from TriNature France, and sold goods to the value of £316, on normal commercial terms, a company in which Agri Po BV Belgium has a 100% interest. Crop's VEG and CPUK have a 45% interest each in Agri Po BV. At the year end, in respect of trading balances, the company owed £197,984 to TriNature France.

| During the year the company received interest of £239,737 in connection with loans from CPUK to Agri Po BV. The loans are long term with interest charged at Euribor 3M rate + 1%

| During the year the company purchased goods to the value of £5,489, on normal commercial terms, from De Potterie BVBA, a company of which M Delbaere is a director.

| Key management personnel includes all persons, who are not directors, who have authority and responsibility for planning,directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the company was £356,556 (2024: £290,725).