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REGISTERED NUMBER: 00492990 (England and Wales)

| FRANK RICHARDSON & SON LIMITED |

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 5 APRIL 2025 |

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

| Page |

Company Information | 1 |

Statement of Financial Position | 2 |  | to |  | 3

Notes to the Financial Statements | 4 |  | to |  | 9

FRANK RICHARDSON & SON LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 5 APRIL 2025

| DIRECTORS: | Mrs J E Richardson

| S W Piccaver

| Mrs C Britton

| REGISTERED OFFICE: | The Estate Office

| Thetford House Farm

| Baston

| Peterborough

| Cambridgeshire

| PE6 9NU

| REGISTERED NUMBER: | 00492990 (England and Wales)

| ACCOUNTANTS: | Duncan & Toplis Limited

| 14 All Saints Street

| Stamford

| Lincolnshire

| PE9 2PA

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

STATEMENT OF FINANCIAL POSITION

5 APRIL 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Property, plant and equipment | 5 | 5,039,058 |  | 5,347,802 |  |

Investments | 6 | 544,524 |  | 544,524 |  |

5,583,582 |  | 5,892,326 |  |

CURRENT ASSETS

Inventories | 730,547 |  | 828,460 |  |

Debtors | 7 | 1,998,598 |  | 1,615,166 |  |

Investments | 8 | 69,848 |  | 98,541 |  |

Cash at bank | 305 |  | 300 |  |

2,799,298 |  | 2,542,467 |  |

CREDITORS

Amounts falling due within one year | 9 | 2,110,438 |  | 1,804,930 |  |

NET CURRENT ASSETS | 688,860 |  | 737,537 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 6,272,442 |  | 6,629,863 |  |

CREDITORS

Amounts falling due after more than one year | 10 | (4,136,554 | ) | (4,332,511 | ) |

PROVISIONS FOR LIABILITIES | (17,961 | ) | (80,147 | ) |

NET ASSETS | 2,117,927 |  | 2,217,205 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 82,020 |  | 82,020 |  |

Retained earnings | 2,035,907 |  | 2,135,185 |  |

SHAREHOLDERS' FUNDS | 2,117,927 |  | 2,217,205 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 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.

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

STATEMENT OF FINANCIAL POSITION - continued

5 APRIL 2025

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 April 2026 and were signed on its behalf by:

Mrs C Britton - Director

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1. | STATUTORY INFORMATION

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

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with 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. The financial statements have been prepared under the historical cost convention.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value

| added tax and other sales taxes.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Entitlements are being amortised evenly over their estimated useful life of four years.

| Intangible assets also include entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property | - | 4% on cost

| Tractors and equipment | - | 25% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment | - | 25% on cost

| The directors perform general impairment reviews in accordance with the requirements of the FRS 102 Section 1A to ensure that the recoverable amount is not lower than the carrying value.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost less impairment.

| Stocks

| Stocks are valued at the lower of cost and fair value less costs to complete and sell after making due allowance for obsolete and slow moving items.

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 5 APRIL 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has chosen to adopt the FRS102 1A in respect of financial instruments.

| Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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

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

| Taxation

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

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

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

| Deferred tax

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

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

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

| 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.

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

| Pension costs and other post-retirement benefits

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

| Basic farm payment

| The Basic Farm Payment is recognised in the financial statements in accordance with current H.M.Revenue & Customs guidance.

| Investments

| Fixed asset investments represent long term investments and are stated at cost less impairment.

| Current asset investments are shown at a year end valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 5 APRIL 2025

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 17 (2024 - 16 ) .

4. | INTANGIBLE FIXED ASSETS

| Entitlements

£ |

| COST

| At 6 April 2024 | 209,447 |  |

| Disposals | (209,447 | ) |

| At 5 April 2025 | - |  |

| AMORTISATION

| At 6 April 2024 | 209,447 |  |

| Eliminated on disposal | (209,447 | ) |

| At 5 April 2025 | - |  |

| NET BOOK VALUE

| At 5 April 2025 | - |  |

| At 5 April 2024 | - |  |

5. | PROPERTY, PLANT AND EQUIPMENT

| Tractors |  | Fixtures

| Freehold |  | and |  | and

| property |  | equipment |  | fittings

£ | £ | £ |

| COST

| At 6 April 2024 | 5,843,502 |  | 2,135,801 |  | 117,885 |  |

| Additions | - |  | 15,055 |  | - |  |

| Disposals | (75,000 | ) | (26,000 | ) | - |  |

| At 5 April 2025 | 5,768,502 |  | 2,124,856 |  | 117,885 |  |

| DEPRECIATION

| At 6 April 2024 | 1,195,566 |  | 1,493,060 |  | 93,116 |  |

| Charge for year | 120,401 |  | 118,257 |  | 3,715 |  |

| Eliminated on disposal | - |  | (23,029 | ) | - |  |

| At 5 April 2025 | 1,315,967 |  | 1,588,288 |  | 96,831 |  |

| NET BOOK VALUE

| At 5 April 2025 | 4,452,535 |  | 536,568 |  | 21,054 |  |

| At 5 April 2024 | 4,647,936 |  | 642,741 |  | 24,769 |  |

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 5 APRIL 2025

5. | PROPERTY, PLANT AND EQUIPMENT - continued

| Motor |  | Computer |

| vehicles |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 6 April 2024 | 88,254 |  | 22,976 |  | 8,208,418 |  |

| Additions | - |  | 1,026 |  | 16,081 |  |

| Disposals | - |  | - |  | (101,000 | ) |

| At 5 April 2025 | 88,254 |  | 24,002 |  | 8,123,499 |  |

| DEPRECIATION

| At 6 April 2024 | 56,945 |  | 21,929 |  | 2,860,616 |  |

| Charge for year | 4,185 |  | 296 |  | 246,854 |  |

| Eliminated on disposal | - |  | - |  | (23,029 | ) |

| At 5 April 2025 | 61,130 |  | 22,225 |  | 3,084,441 |  |

| NET BOOK VALUE

| At 5 April 2025 | 27,124 |  | 1,777 |  | 5,039,058 |  |

| At 5 April 2024 | 31,309 |  | 1,047 |  | 5,347,802 |  |

6. | FIXED ASSET INVESTMENTS

| Shares in |

| group |  | Other |

| undertakings |  | investments |  | Totals

£ | £ | £ |

| COST

| At 6 April 2024

| and 5 April 2025 | 544,056 |  | 468 |  | 544,524 |  |

| NET BOOK VALUE

| At 5 April 2025 | 544,056 |  | 468 |  | 544,524 |  |

| At 5 April 2024 | 544,056 |  | 468 |  | 544,524 |  |

7. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 190,896 |  | 297,965 |  |

| Amounts owed by group undertakings | 1,504,763 |  | 801,357 |  |

| Other debtors | 94,167 |  | 95,767 |  |

| Corporation tax recoverable | 8,949 |  | - |  |

| Prepayments and accrued income | 56,823 |  | 264,077 |  |

1,855,598 |  | 1,459,166 |  |

| Amounts falling due after more than one year:

| Other debtors | 143,000 |  | 156,000 |  |

| Aggregate amounts | 1,998,598 |  | 1,615,166 |  |

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 5 APRIL 2025

8. | CURRENT ASSET INVESTMENTS

2025 | 2024 |

£ | £ |

| Listed investments | 69,848 |  | 98,541 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 1,647,182 |  | 941,678 |  |

| Hire purchase contracts | 70,153 |  | 96,164 |  |

| Trade creditors | 183,458 |  | 98,237 |  |

| Corporation tax | - |  | 180 |  |

| Other taxes and social security | 10,548 |  | 17,498 |  |

| Other creditors | 41,246 |  | 494,602 |  |

| Directors' loan accounts | 110,130 |  | 103,300 |  |

| Accruals and deferred income | 47,721 |  | 53,271 |  |

2,110,438 |  | 1,804,930 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | 91,025 |  | 125,948 |  |

| Bank loans - 2-5 years | 253,345 |  | 276,850 |  |

| Bank loans - more than 5 years | 1,598,288 |  | 1,665,663 |  |

| Bank loans - more than 5 years | 1,898,130 |  | 1,898,130 |  |

| Hire purchase contracts | 295,766 |  | 365,920 |  |

4,136,554 |  | 4,332,511 |  |

| Amounts falling due in more than five years:

| Repayable otherwise than by instalments

| Bank loans - more than 5 years | 1,898,130 |  | 1,898,130 |  |

| Repayable by instalments

| Bank loans - more than 5 years | 1,598,288 |  | 1,665,663 |  |

11. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | 782,384 |  | 76,730 |  |

| Bank loans | 4,705,586 |  | 4,831,539 |  |

| Hire purchase contracts | 365,919 |  | 462,084 |  |

5,853,889 |  | 5,370,353 |  |

| The bank loans and overdraft are secured on the company's freehold property. The hire purchase liabilities are secured on the assets to which they relate.

FRANK RICHARDSON & SON LIMITED (REGISTERED NUMBER: 00492990)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 5 APRIL 2025

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 82,020 | Ordinary | £1 | 82,020 |  | 82,020 |  |