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REGISTERED NUMBER: 00104785 (England and Wales)

Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Year Ended 30 June 2025

for

Wherry & Sons,Limited

| Wherry & Sons,Limited (Registered number: 00104785) |

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 | 3 |

| Report of the Independent Auditors | 4 |

| Consolidated Income Statement | 8 |

| Consolidated Other Comprehensive Income | 9 |

| Consolidated Balance Sheet | 10 |

| Company Balance Sheet | 11 |

| Consolidated Statement of Changes in Equity | 12 |

| Company Statement of Changes in Equity | 13 |

| Consolidated Cash Flow Statement | 14 |

| Notes to the Consolidated Cash Flow Statement | 15 |

| Notes to the Consolidated Financial Statements | 17 |

| Wherry & Sons,Limited |

Company Information

for the Year Ended 30 June 2025

| DIRECTORS: | D W Carson

| J Wherry

| D J Wherry

| T J Rose

| REGISTERED OFFICE: | The Old School

| 20 High Street

| Rippingale

| Bourne

| Lincolnshire

| PE10 0SR

| REGISTERED NUMBER: | 00104785 (England and Wales)

| AUDITORS: | Lambert Chapman LLP

| Silks Way

| Braintree

| Essex

| CM7 3GB

| Wherry & Sons,Limited (Registered number: 00104785) |

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.

The principal activity of the group is selling dried pulses for human consumption and plant breeding.

REVIEW OF BUSINESS

Turnover increased from £18.4 million in 2024 to £20.3 million in 2025. This increase reflects the company's product diversification strategy. The industry in which the company operates has faced recent issues including the ongoing conflict in Ukraine, which reduced the supply of chickpeas, lower yields in the UK due to poor weather, and an overhang of customer raw material stocks built up during the challenging COVID-19 period. Despite this landscape, the Company has managed to achieve consistent year on year profits, reporting a profit before tax of £117,000.

In addition, the company streamlined operational costs and invested in a new accounting and trading platform that utilises the latest and most innovative AI software.

The company continues to invest R&D resources into its subsidiary in Kenya, Artisem Limited, which has grown in operations throughout the period.

The company's working capital cycle remained consistent at 61 days in 2025, compared to 58 days in 2024.

The group will continue to pursue growth in the next financial year, with a particular focus in Artisem (Kenya) and the development of our sesame business.

PRINCIPAL RISKS AND UNCERTAINTIES

The group's operations expose it to a variety of financial risks, outlined in more detail below. The group has several risk management strategies in place that aim to reduce the adverse effects on the financial

performance of the group.

Currency risk

As the company imports and exports using a variety of currencies, it is exposed to exchange rate fluctuations. The company policy is to hedge all foreign currency transactions.

Credit risk

A reputable credit insurer covers all accounts receivables from customers where trading is conducted under credit terms.

ON BEHALF OF THE BOARD:

D W Carson - Director

24 March 2026

| Wherry & Sons,Limited (Registered number: 00104785) |

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.

DIVIDENDS

The total distribution of dividends for the year will be £159,284 (2024 - £36,000).

DIRECTORS

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

D W Carson

J Wherry

D J Wherry

T J Rose

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). 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;

- | 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.

AUDITORS

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

ON BEHALF OF THE BOARD:

D W Carson - Director

24 March 2026

Report of the Independent Auditors to the Members of

Wherry & Sons,Limited

Opinion

We have audited the financial statements of Wherry & Sons,Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the Consolidated Income Statement, Consolidated Other 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.

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.

Report of the Independent Auditors to the Members of

Wherry & Sons,Limited

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 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 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

Wherry & Sons,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:

Extent to which the audit was considered capable of detecting irregularities, including fraud

The capability to detect irregularities is based on the auditor identifying and assessing the risks of material misstatement of the financial statements, whether due to fraud or error, and then designing and performing audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

a) Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, the following approach was taken:

- |  | Understanding the nature of the industry and sector, control environment and business performance; |

- |  | Consideration of the results of our enquiries of management and those charged with governance about their own identification and assessment of the risks of irregularities; |

- |  | Understanding the group's policies and procedures on compliance with laws and regulations and management of fraud risk, including documentation of instances of non-compliance of laws and regulations and instances of actual, suspected or alleged fraud; |

- |  | Consideration of matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud; |

- |  | Understanding the legal and regulatory frameworks that the company operates in through enquiry of management and those charged with governance and understanding the group's industry and sector. The key laws and regulations that were considered to have an effect on material amounts and disclosures in the financial statements included the Companies Act and tax legislation. |

b) Audit response to risks identified

Based on this understanding, the following audit procedures were designed and performed to respond to the risks identified:

- |  | Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations described as having a direct effect on the financial statement; |

- |  | Enquiring of management, those charged with governance and, where applicable, the group's solicitors concerning actual and potential litigation and claims; |

- |  | Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |

- |  | Reviewing minutes of meetings of those charged with governance and, where applicable, correspondence with regulators; |

- |  | Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business; |

- |  | Communication of potential fraud risks to all engagement team members and remaining alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. |

Report of the Independent Auditors to the Members of

Wherry & Sons,Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

Luke Mitchell FCA (Senior Statutory Auditor)

for and on behalf of Lambert Chapman LLP

Silks Way

Braintree

Essex

CM7 3GB

24 March 2026

| Wherry & Sons,Limited (Registered number: 00104785) |

Consolidated

Income Statement

for the Year Ended 30 June 2025

| 30.6.25 |  | 30.6.24

| as | restated |

| Notes | £ | £ |

TURNOVER | 3 | 20,301,008 |  | 18,399,217 |  |

Cost of sales | (17,859,305 | ) | (15,884,616 | ) |

GROSS PROFIT | 2,441,703 |  | 2,514,601 |  |

Administrative expenses | (2,444,971 | ) | (2,484,180 | ) |

(3,268 | ) | 30,421 |  |

Other operating income | 18,077 |  | 14,365 |  |

GROUP OPERATING PROFIT | 5 | 14,809 |  | 44,786 |  |

Share of operating profit in

Joint ventures | 289,465 |  | 283,219 |  |

Interest receivable and similar income | - |  | 530 |  |

304,274 |  | 328,535 |  |

Interest payable and similar expenses | 6 | (187,514 | ) | (209,524 | ) |

PROFIT BEFORE TAXATION | 116,760 |  | 119,011 |  |

Tax on profit | 7 | 45,848 |  | 51,630 |  |

PROFIT FOR THE FINANCIAL YEAR | 162,608 |  | 170,641 |  |

Profit attributable to:

Owners of the parent | 162,608 |  | 170,641 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Consolidated

Other Comprehensive Income

for the Year Ended 30 June 2025

| 30.6.25 |  | 30.6.24

| as | restated |

| Notes | £ | £ |

PROFIT FOR THE YEAR | 162,608 |  | 170,641 |  |

OTHER COMPREHENSIVE INCOME |

Share options | 20,277 |  | (33,069 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 20,277 |  | (33,069 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 182,885 |  | 137,572 |  |

| Note

Prior year adjustment | 10 | 77,732 |  |

TOTAL COMPREHENSIVE INCOME SINCE LAST ANNUAL REPORT | 260,617 |  |

Total comprehensive income attributable to:

Owners of the parent | 260,617 |  | 137,572 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Consolidated Balance Sheet

30 June 2025

| 30.6.25 |  | 30.6.24

| as | restated |

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 11 | 882,137 |  | 896,918 |  |

Tangible assets | 12 | 1,037,700 |  | 930,416 |  |

Investments | 13 |

| Interest in joint venture | 74,467 |  | 85,002 |  |

Investment property | 14 | 638,301 |  | 638,301 |  |

2,632,605 |  | 2,550,637 |  |

CURRENT ASSETS

Stocks | 15 | 3,142,066 |  | 2,608,686 |  |

Debtors | 16 | 1,857,799 |  | 1,901,932 |  |

Cash at bank and in hand | 847,202 |  | 918,810 |  |

5,847,067 |  | 5,429,428 |  |

CREDITORS

Amounts falling due within one year | 17 | (3,894,112 | ) | (3,398,615 | ) |

NET CURRENT ASSETS | 1,952,955 |  | 2,030,813 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,585,560 |  | 4,581,450 |  |

CREDITORS

Amounts falling due after more than one year | 18 | (26,956 | ) | - |  |

PROVISIONS FOR LIABILITIES | 23 | - |  | (46,447 | ) |

NET ASSETS | 4,558,604 |  | 4,535,003 |  |

CAPITAL AND RESERVES

Called up share capital | 24 | 65,280 |  | 65,280 |  |

Share premium | 25 | 193,424 |  | 193,424 |  |

Capital redemption reserve | 25 | 43,850 |  | 43,850 |  |

Share option reserve | 25 | 20,277 |  | - |  |

Retained earnings | 25 | 4,235,773 |  | 4,232,449 |  |

4,558,604 |  | 4,535,003 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2026 and were signed on its behalf by:

D W Carson - Director

| Wherry & Sons,Limited (Registered number: 00104785) |

Company Balance Sheet

30 June 2025

| 30.6.25 |  | 30.6.24

| as | restated |

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 11 | 849,161 |  | 860,883 |  |

Tangible assets | 12 | 1,031,071 |  | 927,242 |  |

Investments | 13 | 31,752 |  | 43,079 |  |

Investment property | 14 | 638,301 |  | 638,301 |  |

2,550,285 |  | 2,469,505 |  |

CURRENT ASSETS

Stocks | 15 | 3,142,066 |  | 2,591,245 |  |

Debtors | 16 | 2,086,720 |  | 2,069,827 |  |

Cash at bank and in hand | 779,642 |  | 805,097 |  |

6,008,428 |  | 5,466,169 |  |

CREDITORS

Amounts falling due within one year | 17 | (3,877,444 | ) | (3,359,143 | ) |

NET CURRENT ASSETS | 2,130,984 |  | 2,107,026 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 4,681,269 |  | 4,576,531 |  |

CREDITORS

Amounts falling due after more than one year | 18 | (26,956 | ) | - |  |

PROVISIONS FOR LIABILITIES | 23 | - |  | (46,447 | ) |

NET ASSETS | 4,654,313 |  | 4,530,084 |  |

CAPITAL AND RESERVES

Called up share capital | 24 | 65,280 |  | 65,280 |  |

Share premium | 25 | 193,424 |  | 193,424 |  |

Capital redemption reserve | 25 | 43,850 |  | 43,850 |  |

Share option reserve | 25 | 20,277 |  | - |  |

Retained earnings | 25 | 4,331,482 |  | 4,227,530 |  |

4,654,313 |  | 4,530,084 |  |

Company's profit for the financial year | 263,236 |  | 285,976 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2026 and were signed on its behalf by:

D W Carson - Director

| Wherry & Sons,Limited (Registered number: 00104785) |

Consolidated Statement of Changes in Equity

for the Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Share

| capital |  | earnings |  | premium

£ | £ | £ |

Balance at 1 July 2023 | 65,280 |  | 4,097,808 |  | 193,424 |  |

Changes in equity

Dividends | - |  | (36,000 | ) | - |  |

Total comprehensive income | - |  | 92,909 |  | - |  |

Balance at 30 June 2024 | 65,280 |  | 4,154,717 |  | 193,424 |  |

Prior year adjustment | - |  | 77,732 |  | - |  |

As restated | 65,280 |  | 4,232,449 |  | 193,424 |  |

Changes in equity

Dividends | - |  | (159,284 | ) | - |  |

Total comprehensive income | - |  | 162,608 |  | - |  |

Balance at 30 June 2025 | 65,280 |  | 4,235,773 |  | 193,424 |  |

| Capital |  | Share |

| redemption |  | option |  | Total

| reserve |  | reserve |  | equity

£ | £ | £ |

Balance at 1 July 2023 | 43,850 |  | 33,069 |  | 4,433,431 |  |

Changes in equity

Dividends | - |  | - |  | (36,000 | ) |

Total comprehensive income | - |  | (33,069 | ) | 59,840 |  |

Balance at 30 June 2024 | 43,850 |  | - |  | 4,457,271 |  |

Prior year adjustment | - |  | - |  | 77,732 |  |

As restated | 43,850 |  | - |  | 4,535,003 |  |

Changes in equity

Dividends | - |  | - |  | (159,284 | ) |

Total comprehensive income | - |  | 20,277 |  | 182,885 |  |

Balance at 30 June 2025 | 43,850 |  | 20,277 |  | 4,558,604 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Company Statement of Changes in Equity

for the Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Share

| capital |  | earnings |  | premium

£ | £ | £ |

Balance at 1 July 2023 | 65,280 |  | 3,977,554 |  | 193,424 |  |

Changes in equity

Dividends | - |  | (36,000 | ) | - |  |

Total comprehensive income | - |  | 285,976 |  | - |  |

Balance at 30 June 2024 | 65,280 |  | 4,227,530 |  | 193,424 |  |

Changes in equity

Dividends | - |  | (159,284 | ) | - |  |

Total comprehensive income | - |  | 263,236 |  | - |  |

Balance at 30 June 2025 | 65,280 |  | 4,331,482 |  | 193,424 |  |

| Capital |  | Share |

| redemption |  | option |  | Total

| reserve |  | reserve |  | equity

£ | £ | £ |

Balance at 1 July 2023 | 43,850 |  | 33,069 |  | 4,313,177 |  |

Changes in equity

Dividends | - |  | - |  | (36,000 | ) |

Total comprehensive income | - |  | (33,069 | ) | 252,907 |  |

Balance at 30 June 2024 | 43,850 |  | - |  | 4,530,084 |  |

Changes in equity

Dividends | - |  | - |  | (159,284 | ) |

Total comprehensive income | - |  | 20,277 |  | 283,513 |  |

Balance at 30 June 2025 | 43,850 |  | 20,277 |  | 4,654,313 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Consolidated Cash Flow Statement

for the Year Ended 30 June 2025

| 30.6.25 |  | 30.6.24

| as | restated |

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 127,441 |  | 1,582,711 |  |

Tax paid | - |  | (65,036 | ) |

Taxation refund | 5,816 |  | - |  |

Net cash from operating activities | 133,257 |  | 1,517,675 |  |

Cash flows from investing activities

Purchase of intangible fixed assets | (90,379 | ) | (206,737 | ) |

Purchase of tangible fixed assets | (198,576 | ) | (156,156 | ) |

Sale of tangible fixed assets | 22,376 |  | - |  |

Interest received | - |  | 530 |  |

Dividends received | 300,000 |  | 327,800 |  |

Net cash from investing activities | 33,421 |  | (34,563 | ) |

Cash flows from financing activities

Bank borrowing draw downs | 129,043 |  | (1,668,487 | ) |

Interest paid | (187,514 | ) | (209,524 | ) |

Capital repayments in year | (20,531 | ) | (26,557 | ) |

Equity dividends paid | (159,284 | ) | (36,000 | ) |

Net cash from financing activities | (238,286 | ) | (1,940,568 | ) |

Decrease in cash and cash equivalents | (71,608 | ) | (457,456 | ) |

Cash and cash equivalents at beginning of year | 2 | 918,810 |  | 1,376,266 |  |

Cash and cash equivalents at end of year | 2 | 847,202 |  | 918,810 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

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

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Profit before taxation | 116,760 |  | 119,011 |  |

| Depreciation charges | 208,794 |  | 176,590 |  |

| Loss on disposal of fixed assets | 9,983 |  | 908 |  |

| Share options | 20,277 |  | (33,069 | ) |

| Share of profit of joint ventures | (289,465 | ) | (283,219 | ) |

| Finance costs | 187,514 |  | 209,524 |  |

| Finance income | - |  | (530 | ) |

253,863 |  | 189,215 |  |

| (Increase)/decrease in stocks | (533,380 | ) | 1,321,332 |  |

| Decrease in trade and other debtors | 37,718 |  | 640,205 |  |

| Increase/(decrease) in trade and other creditors | 369,240 |  | (568,041 | ) |

| Cash generated from operations | 127,441 |  | 1,582,711 |  |

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 | 847,202 |  | 918,810 |  |

| Year ended 30 June 2024

| 30.6.24 |  | 1.7.23

| as restated |

£ | £ |

| Cash and cash equivalents | 918,810 |  | 1,588,664 |  |

| Bank overdrafts | - |  | (212,398 | ) |

918,810 |  | 1,376,266 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Cash Flow Statement

for the Year Ended 30 June 2025

3. | ANALYSIS OF CHANGES IN NET DEBT

| At 1.7.24 | Cash flow | At 30.6.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 918,810 |  | (71,608 | ) | 847,202 |  |

918,810 |  | (71,608 | ) | 847,202 |  |

| Debt

| Finance leases | (17,819 | ) | (24,170 | ) | (41,989 | ) |

| Debts falling due within 1 year | (1,742,249 | ) | (129,043 | ) | (1,871,292 | ) |

(1,760,068 | ) | (153,213 | ) | (1,913,281 | ) |

| Total | (841,258 | ) | (224,821 | ) | (1,066,079 | ) |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Wherry & Sons,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.

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Basis of consolidation

| The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.

| The consolidated financial statements incorporate the results of the business combination using the purchase method. In the Balance Sheet, the acquirees' identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The combined results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.

| Associates and joint ventures

| Associates and joint ventures are accounted for under the equity method. The investment is initially recognised at cost and subsequently adjusted for the Group's share of the associate or joint venture's profit or loss after the date of acquisition. The Group's share of the associate or joint venture's profit or loss is recognised in the consolidated statement of comprehensive income. Distributions received reduce the carrying amount of the investment.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

| Critical accounting judgements and key sources of estimation uncertainty

| The preparation of financial statements requires the group's directors to make judgements,assumptions and estimates that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on a regular basis.

| The group does not have any key assumptions concerning the future, or other key sources of estimation uncertainty in the reporting period that may have a significant risk of causing a material

| adjustment to the carrying amounts of assets and liabilities within the next financial year.

| Turnover

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

| Revenue is recognised at the point of despatch.

| Royalties are recognised at the point of receipt.

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

| Intangible fixed assets relate to the capitalisation of intellectual property rights, seed and know-how. This is being amortised over 15 years on a straight line basis, based on the period of economic benefit that will be derived from the asset in the directors' opinion, based upon their knowledge and experience of the industry.

| Tangible fixed assets

| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and costs directly attributable to bringing the asset to its working condition for its intended use.

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

| Freehold land |  | - not depreciated |  |

| Freehold buildings |  | - 2% on cost |  |

| Plant and machinery |  | - 15% or 20% on cost |  |

| Motor vehicles |  | - 25% on cost |  |

| Computer equipment |  | - 20% on cost |  |

| The expected useful lives of assets are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

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

| Cost includes the cost of processing and haulage inwards.

| At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying

| amount is reduced to its selling price less costs to complete and sell. The impairment loss is

| recognised immediately in profit or loss.

| Taxation

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

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Foreign currencies

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

| Forward contracts

| The group enters into forward foreign currency contracts to manage its exposure to foreign exchange risk.

| Forward foreign currency contracts are initially recognised at fair value on the date the contract is entered into and are subsequently remeasured at fair value at each reporting date. The fair value is determined using observable forward exchange rates at the reporting date.

| Changes in fair value are recognised in profit or loss in the period in which they arise.

| Hire purchase and leasing commitments

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

| The interest element of these obligations is charged to profit or loss over the relevant period. The

| capital element of the future payments is treated as a liability.

| Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance

| sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

| Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The

| capital element of the future payments is treated as a liability.

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

| period of the lease.

| Pension costs and other post-retirement benefits

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

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Share based payments

| The group operates equity-settled share based payment arrangements under which share options are granted to employees.

| The fair value of share options granted is measured at the grant date using an appropriate valuation model, taking into account the terms and conditions upon which the options were granted.

| The fair value of the options is recognised as an expense in profit or loss over the vesting period, with a corresponding increase in equity. The total amount recognised is based on the fair value of the options granted and the number of options expected to vest, taking into account vesting conditions.

| At each reporting date, the group revises its estimate of the number of options expected to vest. The impact of any revision is recognised in profit or loss, with a corresponding adjustment to equity.

| No expense is recognised for options that do not ultimately vest, except where vesting is conditional upon a market condition, which is taken into account in determining fair value.

| When options are exercised, the proceeds received, together with the amount previously recognised in equity, are credited to share capital and share premium. Where options lapse unexercised, amounts previously recognised in equity are retained in equity.

3. | TURNOVER

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

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

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Sale of goods | 19,592,276 |  | 17,702,599 |  |

| Other revenue | 708,732 |  | 696,618 |  |

20,301,008 |  | 18,399,217 |  |

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

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| United Kingdom | 8,950,218 |  | 10,197,122 |  |

| Rest of the World | 11,350,790 |  | 8,202,095 |  |

20,301,008 |  | 18,399,217 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

4. | EMPLOYEES AND DIRECTORS

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Wages and salaries | 1,277,436 |  | 1,146,435 |  |

| Social security costs | 122,585 |  | 132,308 |  |

| Other pension costs | 93,282 |  | 195,332 |  |

1,493,303 |  | 1,474,075 |  |

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

| 30.6.25 |  | 30.6.24

| as | restated |

| Administration | 16 |  | 17 |  |

| Directors | 4 |  | 4 |  |

20 |  | 21 |  |

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Directors' remuneration | 482,260 |  | 501,182 |  |

| Directors' pension contributions to money purchase schemes | 47,934 |  | 142,620 |  |

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

| Money purchase schemes | 2 |  | 3 |  |

| Information regarding the highest paid director is as follows:

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Emoluments etc | 200,916 |  | 211,607 |  |

| Pension contributions to money purchase schemes | 26,000 |  | 60,000 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Depreciation - owned assets | 85,335 |  | 66,487 |  |

| Depreciation - assets on hire purchase contracts | 18,299 |  | 25,732 |  |

| Loss on disposal of fixed assets | 9,983 |  | - |  |

| Goodwill amortisation | 1,031 |  | 812 |  |

| Breed, Royalties, Varieties and Rights amortisation | 104,129 |  | 83,559 |  |

| Auditors' remuneration | 12,800 |  | 11,520 |  |

| Foreign exchange differences | 6,227 |  | 13,665 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Bank interest | 184,476 |  | 207,870 |  |

| Hire purchase | 3,038 |  | 1,654 |  |

187,514 |  | 209,524 |  |

7. | TAXATION

| Analysis of the tax credit

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

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Current tax:

| UK corporation tax | - |  | (51,118 | ) |

| Overseas tax | 599 |  | - |  |

| Total current tax | 599 |  | (51,118 | ) |

| Deferred tax | (46,447 | ) | (512 | ) |

| Tax on profit | (45,848 | ) | (51,630 | ) |

| UK corporation tax has been charged at 25 % (2024 - 25 %).

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

7. | TAXATION - continued

| Reconciliation of total tax credit included in profit and loss

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

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Profit before tax | 116,760 |  | 119,011 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2024 - 25 %) | 29,190 |  | 29,753 |  |

| Effects of:

| Expenses not deductible for tax purposes | 27,534 |  | 23,054 |  |

| Adjustments to tax charge in respect of previous periods | (70,324 | ) | (51,118 | ) |

| Unrelieved (profit)/loss on foreign subsidiaries | 26,222 |  | 17,486 |  |

| Deferred tax (credit)/expense from unrecognised tax loss or credit | 13,896 |  | - |  |

| Share of profit of joint venture | (72,366 | ) | (70,805 | ) |

| Total tax credit | (45,848 | ) | (51,630 | ) |

| Tax effects relating to effects of other comprehensive income |

| 30.6.25 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Share options | 20,277 |  | - |  | 20,277 |  |

| 30.6.24 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Share options | (33,069 | ) | - |  | (33,069 | ) |

8. | INDIVIDUAL INCOME STATEMENT

| 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.

9. | DIVIDENDS

|  | 30.6.25 |  |  | 30.6.24 |

|  | £ |  |  | £ |

| Interim |  | 159,284 |  |  | 36,000 |

10. | PRIOR YEAR ADJUSTMENT

| The prior year adjustment relates to accounting for joint ventures and associates under the equity method. Investments in joint ventures and associates increases by £77,732 as at 30 June 2024. Profit for the year ended 30 June 2024 decreases by £44,581. Retained earnings increases by £122,313 as at 30 June 2023 and £77,732 as at 30 June 2024.

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

11. | INTANGIBLE FIXED ASSETS

| Group

| Breed, |

| Royalties, |

| Varieties |

| and |

| Goodwill |  | Rights |  | Totals

£ | £ | £ |

| COST

| At 1 July 2024 | 21,133 |  | 1,424,990 |  | 1,446,123 |  |

| Additions | 2,701 |  | 87,678 |  | 90,379 |  |

| At 30 June 2025 | 23,834 |  | 1,512,668 |  | 1,536,502 |  |

| AMORTISATION

| At 1 July 2024 | 812 |  | 548,393 |  | 549,205 |  |

| Amortisation for year | 1,031 |  | 104,129 |  | 105,160 |  |

| At 30 June 2025 | 1,843 |  | 652,522 |  | 654,365 |  |

| NET BOOK VALUE

| At 30 June 2025 | 21,991 |  | 860,146 |  | 882,137 |  |

| At 30 June 2024 | 20,321 |  | 876,597 |  | 896,918 |  |

| Company

| Breed,

| Royalties,

| Varieties

| and

| Rights

£ |

| COST

| At 1 July 2024 | 1,409,276 |  |

| Additions | 87,678 |  |

| At 30 June 2025 | 1,496,954 |  |

| AMORTISATION

| At 1 July 2024 | 548,393 |  |

| Amortisation for year | 99,400 |  |

| At 30 June 2025 | 647,793 |  |

| NET BOOK VALUE

| At 30 June 2025 | 849,161 |  |

| At 30 June 2024 | 860,883 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

11. | INTANGIBLE FIXED ASSETS - continued

| Company

| Intangible fixed assets includes the following individually material assets:

|  | 30.6.25 |  |  | 30.6.24 |

|  | Carrying amount |  | Remaining amortisation period |  | Carrying amount |  | Remaining amortisation period |

|  | £ |  | (years) |  | £ |  | (years) |

| Plant breeding |  | 245,975 |  | 7 |  | 281,114 |  | 8 |

| Marrow fats |  | 90,596 |  | 7 |  | 103,538 |  | 8 |

| Chick peas |  | 129,920 |  | 7 |  | 148,480 |  | 8 |

| Seed selection and claims tool software |  | 90,053 |  | 9 |  | 100,597 |  | 10 |

12. | TANGIBLE FIXED ASSETS

| Group

| Freehold |  | Plant and |  | Motor |  | Computer |

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

£ | £ | £ | £ | £ |

| COST

| At 1 July 2024 | 855,218 |  | 201,055 |  | 221,676 |  | 300,489 |  | 1,578,438 |  |

| Additions | 18,713 |  | 31,670 |  | 50,567 |  | 142,327 |  | 243,277 |  |

| Disposals | - |  | (23,394 | ) | (169,437 | ) | (243,685 | ) | (436,516 | ) |

| At 30 June 2025 | 873,931 |  | 209,331 |  | 102,806 |  | 199,131 |  | 1,385,199 |  |

| DEPRECIATION

| At 1 July 2024 | 116,425 |  | 118,442 |  | 146,039 |  | 267,116 |  | 648,022 |  |

| Charge for year | 10,564 |  | 28,245 |  | 31,009 |  | 33,816 |  | 103,634 |  |

| Eliminated on disposal | - |  | (23,394 | ) | (138,007 | ) | (242,756 | ) | (404,157 | ) |

| At 30 June 2025 | 126,989 |  | 123,293 |  | 39,041 |  | 58,176 |  | 347,499 |  |

| NET BOOK VALUE

| At 30 June 2025 | 746,942 |  | 86,038 |  | 63,765 |  | 140,955 |  | 1,037,700 |  |

| At 30 June 2024 | 738,793 |  | 82,613 |  | 75,637 |  | 33,373 |  | 930,416 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

12. | TANGIBLE FIXED ASSETS - continued

| Company

| Freehold |  | Plant and |  | Motor |  | Computer |

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

£ | £ | £ | £ | £ |

| COST

| At 1 July 2024 | 855,218 |  | 201,055 |  | 221,676 |  | 296,715 |  | 1,574,664 |  |

| Additions | 15,360 |  | 31,670 |  | 50,567 |  | 141,328 |  | 238,925 |  |

| Disposals | - |  | (23,394 | ) | (169,437 | ) | (243,685 | ) | (436,516 | ) |

| At 30 June 2025 | 870,578 |  | 209,331 |  | 102,806 |  | 194,358 |  | 1,377,073 |  |

| DEPRECIATION

| At 1 July 2024 | 116,425 |  | 118,442 |  | 146,039 |  | 266,516 |  | 647,422 |  |

| Charge for year | 10,564 |  | 28,245 |  | 31,009 |  | 32,919 |  | 102,737 |  |

| Eliminated on disposal | - |  | (23,394 | ) | (138,007 | ) | (242,756 | ) | (404,157 | ) |

| At 30 June 2025 | 126,989 |  | 123,293 |  | 39,041 |  | 56,679 |  | 346,002 |  |

| NET BOOK VALUE

| At 30 June 2025 | 743,589 |  | 86,038 |  | 63,765 |  | 137,679 |  | 1,031,071 |  |

| At 30 June 2024 | 738,793 |  | 82,613 |  | 75,637 |  | 30,199 |  | 927,242 |  |

| Included in cost of land and buildings is freehold land of £ 53,397 (2024 - £ 53,397 ) which is not depreciated.

13. | FIXED ASSET INVESTMENTS

| Group

| Interest |  | Interest |

| in joint |  | in |

| venture |  | associate |  | Totals

£ | £ | £ |

| COST

| At 1 July 2024 | 85,002 |  | 20 |  | 85,022 |  |

| Share of profit/(loss) | 289,465 |  | - |  | 289,465 |  |

| Dividends received | (300,000 | ) | - |  | (300,000 | ) |

| At 30 June 2025 | 74,467 |  | 20 |  | 74,487 |  |

| PROVISIONS

| At 1 July 2024

| and 30 June 2025 | - |  | 20 |  | 20 |  |

| NET BOOK VALUE

| At 30 June 2025 | 74,467 |  | - |  | 74,467 |  |

| At 30 June 2024 | 85,002 |  | - |  | 85,002 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

13. | FIXED ASSET INVESTMENTS - continued

| Company

| Shares in |  | Interest |  | Interest |

| group |  | in joint |  | in |

| undertakings |  | venture |  | associate |  | Totals

£ | £ | £ | £ |

| COST

| At 1 July 2024 | 35,809 |  | 7,250 |  | 20 |  | 43,079 |  |

| Additions | 2,701 |  | - |  | - |  | 2,701 |  |

| At 30 June 2025 | 38,510 |  | 7,250 |  | 20 |  | 45,780 |  |

| PROVISIONS

| Provision for year | 14,028 |  | - |  | - |  | 14,028 |  |

| At 30 June 2025 | 14,028 |  | - |  | - |  | 14,028 |  |

| NET BOOK VALUE

| At 30 June 2025 | 24,482 |  | 7,250 |  | 20 |  | 31,752 |  |

| At 30 June 2024 | 35,809 |  | 7,250 |  | 20 |  | 43,079 |  |

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

| Subsidiaries

| Sprouting Seeds Limited

| Registered office: England and Wales

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Wherry Middle East Trading FZCO

| Registered office: United Arab Emirates

| Nature of business: Trading in grains, cereals and legumes

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Rift Valley Exports Limited

| Registered office: Tanzania

| Nature of business: Dormant

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Artisem Limited

| Registered office: Kenya

| Nature of business: Trading in grains, cereals and legumes

| %

| Class of shares: | holding |

| Ordinary | 100.00 |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

13. | FIXED ASSET INVESTMENTS - continued

| Joint ventures

| Yorkshire Pulses Limited

| Registered office: England and Wales

| Nature of business: Processing of dried pulses

| %

| Class of shares: | holding |

| Ordinary | 50.00 |

| 30.6.25 |  | 30.6.24

£ | £ |

| Aggregate capital and reserves | 14,377 |  | 729 |  |

| Profit/(loss) for the year | 13,648 |  | (7,049 | ) |

| UK Pulses Limited

| Registered office: England and Wales

| Nature of business: Pulses plant breeding and marketing

| %

| Class of shares: | holding |

| Ordinary | 50.00 |

| 30.6.25 |  | 30.6.24

£ | £ |

| Aggregate capital and reserves | 134,555 |  | 169,274 |  |

| Profit for the year | 565,281 |  | 573,486 |  |

| Associated company

| BIPO Limited

| Registered office: England and Wales

| Nature of business: Collection of royalties

| %

| Class of shares: | holding |

| Ordinary | 33.00 |

| 31.3.25 |  | 31.3.24

£ | £ |

| Aggregate capital and reserves | (110,778 | ) | (102,051 | ) |

| (Loss)/profit for the year | (8,727 | ) | 3,735 |  |

14. | INVESTMENT PROPERTY

| Group

| Total

£ |

| FAIR VALUE

| At 1 July 2024

| and 30 June 2025 | 638,301 |  |

| NET BOOK VALUE

| At 30 June 2025 | 638,301 |  |

| At 30 June 2024 | 638,301 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

14. | INVESTMENT PROPERTY - continued

| Group

| Fair value at 30 June 2025 is represented by:

£ |

| Valuation in 2021 | 109,396 |  |

| Cost | 528,905 |  |

638,301 |  |

| Company

| Total

£ |

| FAIR VALUE

| At 1 July 2024

| and 30 June 2025 | 638,301 |  |

| NET BOOK VALUE

| At 30 June 2025 | 638,301 |  |

| At 30 June 2024 | 638,301 |  |

| Fair value at 30 June 2025 is represented by:

£ |

| Valuation in 2021 | 109,396 |  |

| Cost | 528,905 |  |

638,301 |  |

| Valuations of investment property have been made by the directors, on an open market value for existing use basis.

15. | STOCKS

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

| as restated |  | as restated |

£ | £ | £ | £ |

| Raw materials | 1,103,261 |  | 837,287 |  | 1,103,261 |  | 837,287 |  |

| Finished goods | 2,038,805 |  | 1,771,399 |  | 2,038,805 |  | 1,753,958 |  |

3,142,066 |  | 2,608,686 |  | 3,142,066 |  | 2,591,245 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

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

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

| as restated |  | as restated |

£ | £ | £ | £ |

| Trade debtors | 1,506,343 |  | 1,522,762 |  | 1,506,343 |  | 1,499,231 |  |

| Amounts owed by group undertakings | - |  | - |  | 230,656 |  | 197,281 |  |

| Other debtors | 245,814 |  | 281,867 |  | 244,687 |  | 280,884 |  |

| Corporation tax | - |  | 6,415 |  | - |  | 6,415 |  |

| Prepayments and accrued income | 105,642 |  | 90,888 |  | 105,034 |  | 86,016 |  |

1,857,799 |  | 1,901,932 |  | 2,086,720 |  | 2,069,827 |  |

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

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

| as restated |  | as restated |

£ | £ | £ | £ |

| Bank loans and overdrafts (see note 19) | 1,871,292 |  | 1,742,249 |  | 1,871,292 |  | 1,742,249 |  |

| Hire purchase contracts (see note 20) | 15,033 |  | 17,819 |  | 15,033 |  | 17,819 |  |

| Trade creditors | 1,489,979 |  | 1,346,888 |  | 1,489,790 |  | 1,321,562 |  |

| Social security and other taxes | 42,279 |  | 43,736 |  | 42,279 |  | 43,736 |  |

| Other creditors | 118,178 |  | 2,843 |  | 116,184 |  | 2,831 |  |

| Accruals and deferred income | 357,351 |  | 245,080 |  | 342,866 |  | 230,946 |  |

3,894,112 |  | 3,398,615 |  | 3,877,444 |  | 3,359,143 |  |

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

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

| as restated |  | as restated |

£ | £ | £ | £ |

| Hire purchase contracts (see note 20) | 26,956 |  | - |  | 26,956 |  | - |  |

19. | LOANS

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

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

| as restated |  | as restated |

£ | £ | £ | £ |

| Amounts falling due within one year or | on demand: |

| Bank loans | 1,871,292 |  | 1,742,249 |  | 1,871,292 |  | 1,742,249 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

20. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Group

| Hire purchase |

| contracts |

| 30.6.25 |  | 30.6.24 |

| as | restated |

£ | £ |

| Net obligations repayable:

| Within one year | 15,033 |  | 17,819 |  |

| Between one and five years | 26,956 |  | - |  |

41,989 |  | 17,819 |  |

| Company

| Hire purchase |

| contracts |

| 30.6.25 |  | 30.6.24 |

£ | £ |

| Net obligations repayable:

| Within one year | 15,033 |  | 17,819 |  |

| Between one and five years | 26,956 |  | - |  |

41,989 |  | 17,819 |  |

21. | SECURED DEBTS

| The following secured debts are included within creditors:

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

| as restated |  | as restated |

£ | £ | £ | £ |

| Bank loans | 1,871,292 |  | 1,742,249 |  | 1,871,292 |  | 1,742,249 |  |

| Hire purchase contracts | 41,989 |  | 17,819 |  | 41,989 |  | 17,819 |  |

1,913,281 |  | 1,760,068 |  | 1,913,281 |  | 1,760,068 |  |

| Hire purchase liabilities are repayable monthly over 3-5 years at interest rates from 2-5% per annum and are secured on the assets acquired.

| The bank loans and overdraft are secured by first legal charges over the freehold property and investment property, and by a debenture comprising fixed and floating charges over all the assets and undertakings of the company.

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

22. | FINANCIAL INSTRUMENTS

| The group takes out foreign exchange contracts to hedge against foreign currency fluctuations.

|  | 30.6.25 |  |  | 30.6.24 |  |

| Outstanding forward foreign currency contracts ($) |  | 856,050 |  |  | 1,707,625 |  |

| Outstanding forward foreign currency contracts (€) |  | 53,567 |  |  | 49,137 |  |

|  | £ |  |  | £ |  |

| Sterling equivalent of forward contracts |  | 696,796 |  |  | 1,418,303 |  |

| Fair value of forward contracts |  | 669,842 |  |  | 1,392,084 |  |

| Gain/(loss) on forward contracts |  | 26,954 |  |  | 26,219 |  |

23. | PROVISIONS FOR LIABILITIES

| Group |  | Company |

| 30.6.25 |  | 30.6.24 |  | 30.6.25 |  | 30.6.24 |

| as restated |  | as restated |

£ | £ | £ | £ |

| Deferred tax

| Accelerated capital allowances | - |  | 31,009 |  | - |  | 31,009 |  |

| Other timing differences | - |  | 15,438 |  | - |  | 15,438 |  |

- |  | 46,447 |  | - |  | 46,447 |  |

| Group

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 46,447 |  |

| Credit to Income Statement during year | (46,447 | ) |

| Balance at 30 June 2025 | - |  |

| Company

| Deferred |

| tax |

£ |

| Balance at 1 July 2024 | 46,447 |  |

| Credit to Income Statement during year | (46,447 | ) |

| Balance at 30 June 2025 | - |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

24. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

|  | Nominal |  | 30.6.25 |  |  | 30.6.24 |

| as |  |

| restated |  |

| Number: |  | Class: |  | value: |  | £ |  |  | £ |

| 2,771 |  | Ordinary 'A' |  | £10 |  | 27,710 |  |  | 27,710 |

| 1,000 |  | Ordinary 'B' |  | £1 |  | 1,000 |  |  | 1,000 |

| 1,566 |  | Ordinary 'C' |  | £10 |  | 15,660 |  |  | 15,660 |

| 2,091 |  | Ordinary 'D' |  | £10 |  | 20,910 |  |  | 20,910 |

|  | 65,280 |  |  | 65,280 |

| All share classes carry full voting rights with no restrictions and have no restrictions on the repayment of capital. The directors are entitled to vote an individual dividend on one class of share without the same dividend being voted to any other type of share.

| Ordinary 'A', 'C' and 'D' shares carry 10 votes per share. Ordinary 'B' shares carry 1 vote per share.

25. | RESERVES

| Called up share capital

| This represents the nominal value of shares that have been issued.

| Share premium

| This reserve represents the premium paid for new shares in excess of the nominal value.

| Capital redemption reserve

| This represents the nominal value of shares that have been redeemed by the company.

| Share option reserve

| This reserve represents the fair value of share options granted by not exercised at the balance sheet date.

| Retained earnings

| This includes all current and prior period retained profits and losses.

26. | RELATED PARTY DISCLOSURES

| Entities over which the entity has control, joint control or significant influence

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Receipt of services | 1,855 |  | 5,589 |  |

| Transfers under licence agreements (expense) | 829,153 |  | 823,275 |  |

| Purchases of goods | 115,867 |  | 66,850 |  |

| Dividends received | 300,000 |  | 327,800 |  |

| Amount due from related party | 111,486 |  | 91,146 |  |

| Amount due to related party | 24,022 |  | 66,277 |  |

| Wherry & Sons,Limited (Registered number: 00104785) |

Notes to the Consolidated Financial Statements - continued

for the Year Ended 30 June 2025

26. | RELATED PARTY DISCLOSURES - continued

| Key management personnel of the entity or its parent (in the aggregate)

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Salaries and other short term employee benefits | 472,916 |  | 517,716 |  |

| Post employment benefits | 21,935 |  | 142,620 |  |

| Share options | 9,364 |  | (16,534 | ) |

| Amount due to related party | 75,511 |  | - |  |

| Key management personnel are considered to be the directors of the group.

| Entities that provide key management personnel services to the entity

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Purchase of services | 8,640 |  | 52,512 |  |

| Other related parties

| 30.6.25 |  | 30.6.24

| as | restated |

£ | £ |

| Purchases | - |  | 74,633 |  |

| Rent payable | - |  | 20,000 |  |

| Other related parties are those with common key management personnel.

27. | SHARE-BASED PAYMENT TRANSACTIONS

| A new share option scheme was set up during a prior year.

| A total of 645 equity settled share options were granted to three employees with a vesting period from 3 to 10 years and an exercise price of £733 per share. One of the employees resigned from employment during the prior year and as a result only two of the three share option agreements (430 shares) are now outstanding.

| The directors consider that Black Scholes method of measuring the share options to be the most appropriate.

| Expense of £20,277 (2024 - income of £33,069) has been recognised in the Income Statement in relation to the movement in the fair value of the share options granted but not exercised at the balance sheet date.

| The carrying amount of the share options at the balance sheet date was £20,277 (2024 - £nil).