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REGISTERED NUMBER: 00697833 (England and Wales)

| Unaudited Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Delamore Farms Limited |

Delamore Farms Limited (Registered number: 00697833)

Contents of the Financial Statements

for the Year Ended 31 March 2025

| Page |

Company information | 1 |

Chartered accountants' report | 2 |

Statement of financial position | 3 |  | to |  | 4

Notes to the financial statements | 5 |  | to |  | 10

Delamore Farms Limited

Company Information

for the Year Ended 31 March 2025

| Directors: | C W Delamore

| Mrs T S Nicholls

| Registered office: | Balsam Fields

| Station Road

| Terrington St Clement

| Kings Lynn

| Norfolk

| PE34 4PL

| Registered number: | 00697833 (England and Wales)

| Accountants: | Moore Thompson

| Monica House

| St Augustines Road

| Wisbech

| Cambridgeshire

| PE13 3AD

Chartered Accountants' Report to the Board of Directors

on the Unaudited Financial Statements of

Delamore Farms Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Delamore Farms Limited for the year ended 31 March 2025 which comprise the Income statement, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Delamore Farms Limited, as a body, in accordance with the terms of our engagement letter dated 6 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Delamore Farms Limited and state those matters that we have agreed to state to the Board of Directors of Delamore Farms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Delamore Farms Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Delamore Farms Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Delamore Farms Limited. You consider that Delamore Farms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Delamore Farms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Monica House

St Augustines Road

Wisbech

Cambridgeshire

PE13 3AD

13 March 2026

Delamore Farms Limited (Registered number: 00697833)

Statement of Financial Position

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

Fixed assets

Tangible assets | 5 | 5,074,846 |  | 5,072,631 |  |

Investments | 6 | 7,521 |  | 7,521 |  |

Investment property | 7 | 200,000 |  | 200,000 |  |

5,282,367 |  | 5,280,152 |  |

Current assets

Stocks | 8 | 514,496 |  | 495,671 |  |

Debtors | 9 | 898,018 |  | 706,216 |  |

1,412,514 |  | 1,201,887 |  |

Creditors

Amounts falling due within one year | 10 | 1,062,030 |  | 1,011,777 |  |

Net current assets | 350,484 |  | 190,110 |  |

Total assets less current liabilities | 5,632,851 |  | 5,470,262 |  |

Creditors

Amounts falling due after more than one year | 11 | (1,051,158 | ) | (1,083,486 | ) |

Provisions for liabilities | (43,936 | ) | (19,811 | ) |

Net assets | 4,537,757 |  | 4,366,965 |  |

Capital and reserves

Called up share capital | 2,675 |  | 2,675 |  |

Capital redemption reserve | 625 |  | 625 |  |

Non-distributable reserve | 97,478 |  | 97,478 |  |

Retained earnings | 4,436,979 |  | 4,266,187 |  |

4,537,757 |  | 4,366,965 |  |

Delamore Farms Limited (Registered number: 00697833)

Statement of Financial Position - continued

31 March 2025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 March 2026 and were signed on its behalf by:

C W Delamore - Director

Delamore Farms Limited (Registered number: 00697833)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | Statutory information

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

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

2. | Statement of compliance

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

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

| Tangible fixed assets

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

| Freehold property | - | 2% on a straight line basis

| Assets under construction | - | Not depreciated

| Plant and machinery | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 33% on cost

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Stocks

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

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Delamore Farms Limited (Registered number: 00697833)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

3. | Accounting policies - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. | Employees and directors

| The average number of employees during the year was 3 (2024 - 4 ) .

5. | Tangible fixed assets

| Assets |  | Improvements

| Freehold |  | under |  | to

| property |  | construction |  | property

£ | £ | £ |

| Cost

| At 1 April 2024 | 4,823,761 |  | 180,432 |  | 39,367 |  |

| Additions | - |  | 241,881 |  | - |  |

| Disposals | (190,218 | ) | - |  | - |  |

| At 31 March 2025 | 4,633,543 |  | 422,313 |  | 39,367 |  |

| Depreciation

| At 1 April 2024 | 134,186 |  | - |  | 2,907 |  |

| Charge for year | 4,695 |  | - |  | 3,937 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 March 2025 | 138,881 |  | - |  | 6,844 |  |

| Net book value

| At 31 March 2025 | 4,494,662 |  | 422,313 |  | 32,523 |  |

| At 31 March 2024 | 4,689,575 |  | 180,432 |  | 36,460 |  |

Delamore Farms Limited (Registered number: 00697833)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | Tangible fixed assets - continued

| Plant and |  | Motor |  | Computer |

| machinery |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| Cost

| At 1 April 2024 | 389,296 |  | 17,080 |  | 12,956 |  | 5,462,892 |  |

| Additions | 4,212 |  | - |  | - |  | 246,093 |  |

| Disposals | (6,250 | ) | - |  | - |  | (196,468 | ) |

| At 31 March 2025 | 387,258 |  | 17,080 |  | 12,956 |  | 5,512,517 |  |

| Depreciation

| At 1 April 2024 | 227,939 |  | 16,361 |  | 8,868 |  | 390,261 |  |

| Charge for year | 41,391 |  | 180 |  | 2,975 |  | 53,178 |  |

| Eliminated on disposal | (5,768 | ) | - |  | - |  | (5,768 | ) |

| At 31 March 2025 | 263,562 |  | 16,541 |  | 11,843 |  | 437,671 |  |

| Net book value

| At 31 March 2025 | 123,696 |  | 539 |  | 1,113 |  | 5,074,846 |  |

| At 31 March 2024 | 161,357 |  | 719 |  | 4,088 |  | 5,072,631 |  |

| Freehold land amounting to £4,609,205 (2024 : £4,609,205) is not depreciated.

6. | Fixed asset investments

| Other

| investments

£ |

| Cost

| At 1 April 2024

| and 31 March 2025 | 7,521 |  |

| Net book value

| At 31 March 2025 | 7,521 |  |

| At 31 March 2024 | 7,521 |  |

7. | Investment property

| Total

£ |

| Fair value

| At 1 April 2024

| and 31 March 2025 | 200,000 |  |

| Net book value

| At 31 March 2025 | 200,000 |  |

| At 31 March 2024 | 200,000 |  |

Delamore Farms Limited (Registered number: 00697833)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | Investment property - continued

| Fair value at 31 March 2025 is represented by:

£ |

| Valuation in 2003 | 79,545 |  |

| Valuation in 2019 | 50,455 |  |

| Valuation in 2023 | 70,000 |  |

200,000 |  |

| If investment property had not been revalued it would have been included at the following historical cost:

2025 | 2024 |

£ | £ |

| Cost | 84,782 |  | 84,782 |  |

| Investment property was valued on an open market basis on 31 March 2025 by the directors of the company .

8. | Stocks

2025 | 2024 |

£ | £ |

| Cultivations | 463,676 |  | 452,951 |  |

| Livestock | 50,820 |  | 42,720 |  |

514,496 |  | 495,671 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 49,814 |  | 9,556 |  |

| Amounts owed by associates | 48,179 |  | 72,365 |  |

| Other debtors | 21,342 |  | 138,453 |  |

| Loan to trust - Dunbridge Farm | 118,038 |  | - |  |

| Directors' loan accounts | 501,324 |  | 364,588 |  |

| Tax | 153,882 |  | 107,733 |  |

| Prepayments | 5,439 |  | 13,521 |  |

898,018 |  | 706,216 |  |

Delamore Farms Limited (Registered number: 00697833)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 12) | 10,320 |  | 29,572 |  |

| Other loans (see note 12) | 120,790 |  | 231,462 |  |

| Hire purchase contracts | 22,204 |  | 20,632 |  |

| Trade creditors | 209,813 |  | 538,863 |  |

| Tax | 22,755 |  | 2,986 |  |

| Social security and other taxes | 3,016 |  | 1,743 |  |

| Other creditors | 356,883 |  | 1,909 |  |

| Accruals and deferred income | 316,249 |  | 184,610 |  |

1,062,030 |  | 1,011,777 |  |

11. | Creditors: amounts falling due after more than one year |

2025 | 2024 |

£ | £ |

| Bank loans (see note 12) | 1,005,652 |  | 1,015,776 |  |

| Hire purchase contracts | 45,506 |  | 67,710 |  |

1,051,158 |  | 1,083,486 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans | 1,000,000 |  | 1,000,000 |  |

12. | Loans

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

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 320 |  | 19,572 |  |

| Bank loans | 10,000 |  | 10,000 |  |

| Other loans | - |  | 231,462 |  |

| Loan from trust | 120,790 |  | - |  |

131,110 |  | 261,034 |  |

| Amounts falling due between one and two years:

| Bank loans - 1-2 years | 5,652 |  | 10,000 |  |

| Amounts falling due between two and five years:

| Bank loans - 2-5 years | - |  | 5,776 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans | 1,000,000 |  | 1,000,000 |  |

Delamore Farms Limited (Registered number: 00697833)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

13. | Secured debts

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 1,015,652 |  | 1,025,776 |  |

| Freehold 1st legal charges are held over the following assets of the company by Natwest Bank PLC:

| 161.55 acres of land at Dovecote Farm, Terrington St Clement.

14. | Directors' advances, credits and guarantees

| During the year the company made an unsecured, interest free loan to a former director and shareholder. Amounts loaned to the former director in the year were £121,083 (2024: £73,826). Amounts repaid by the director in the year were £Nil (2024: £Nil). The amount outstanding at the balance sheet date, due to the company, was £459,716 (2024: £338,633).

| During the year the company made an unsecured, interest free loan to one of the directors. Amounts loaned to the director in the year were £15,653 (2024: £4,334). Amounts repaid by the director in the year were £Nil (2024: £Nil). The amount outstanding at the balance sheet date, due to the company, was £36,013 (2024: £20,360).

| During the year the company made an unsecured, interest free loan to a second director. Amounts loaned to the director in the year were £558 (2024: £Nil). Amounts repaid by the director in the year were £Nil (2024: £Nil). The amount outstanding at the balance sheet date, due to the company, was £6,154 (2024: £5,596).

15. | Related party disclosures

| During the year the company operated a loan account with Delamore Properties Limited, a company with common directors . At the year end the company was owed £48,179 (2024: £72,365) from Delamore Properties Limited, this loan has no fixed repayment date.

| During the year the company operated a loan account with Nicholls & Sons Developments Limited, a company with common directors . At the year end the company was owed £4,329 (2024: £4,329) from Nicholls & Sons Developments Limited. This loan has no fixed repayment date.