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Registered number: 01179907 HEAL EGGS LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
HEAL EGGS LIMITED COMPANY INFORMATION
Director | Mr A C Heal
Registered number | 01179907
Registered office | Hazledene Office
| Shawbury
| Shropshire
| SY4 4ET
Independent auditors | WR Partners
| Chartered Accountants & Statutory Auditors
| Belmont House
| Shrewsbury Business Park
| Shrewsbury
| Shropshire
| SY2 6LG
Bankers | Barclays Bank PLC
| 44/46 Castle Street
| Shrewsbury
| Shropshire
| SY1 2BU
HEAL EGGS LIMITED CONTENTS
| Page
Strategic report | 1 - 2
Director's report | 3 - 4
Independent auditors' report | 5 - 9
Profit and loss account | 10
Balance sheet | 11 - 12
Statement of changes in equity | 13
Notes to the financial statements | 14 - 31
HEAL EGGS LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 31 JULY 2025
Introduction
The Directors present their report in respect of the financial statements for the year ended 31 July 2025.
Business review
The Company’s principle activities during the year were the production of free range and colony eggs and the rearing of point of lay pullets as well as the grading of eggs in shell form. During the year the Company saw a decrease in turnover. This was a result of the loss of a site in the prior period which has led to a reduced production, but also due to the cycle of turnaround in pullets which will vary from year to year. New sheds were acquired in the prior year which has led to an increase in costs resulting in additional overheads. Continued market pressure in some product areas created challenging trading conditions.
Principal risks and uncertainties
The risks facing the Company are constantly monitored. The directors are of the opinion that the principal risks facing the Company relate factors such as the following: National market pressure on pricing The industry and current market conditions which have a direct impact on demand can result in risk to the business of pricing of outputs. Demands from customers and the challenges faced within in the market as a result of Brexit are closely monitored. There is a growing demand for UK egg product. Maintaining cost-effectiveness given volatile commodity pricing Many of the direct costs of running the business are adversely impacted by recent inflation levels and other global events. They are volatile and difficult to predict and therefore the ongoing consideration and planning around the sustainability of the business and management of costs is key to mitigating the impact of this. Maintaining commercial viability and longevity Within the industry the Director’s are aware of the risk of not making technological advancements and as a result, not ensuring the longevity and sustainability of the business. The Director’s undertake activities to maximise the quantity and quality of egg production through advanced gut development and expanding the commercial lifespan of the flock to provide this commercial viability and ensure greater financial rewards are possible. Global factors affecting animal welfare Animal welfare and social responsibility are increasingly important to customers and end consumers. The end of battery cage production in 2012 and move away from intensive egg production meant the Director’s have invested significantly in housing, egg collection and feed systems in a way that is healthier and conducive to hen welfare, as well as maximising commercial efficiencies. Risk of avian influenza is a concern for the egg production industry. The Directors take measures in order to mitigate this risk as much as possible, which include high welfare management systems and investment in housing that meets these requirements.
Financial key performance indicators
The Company measures its financial performance by reference to key performance indicators which include turnover, operating profits, net assets, pricing and cost management. Page 1
HEAL EGGS LIMITED STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Other key performance indicators
The Company uses a number of other non-financial key performance indicators to measure performance on a regular basis. This includes relationships with key contacts, environmental factors, employee experience and involvement with the wider community. This report was approved by the board and signed on its behalf.
Mr A C Heal Director
Date: 16 March 2026
Page 2
HEAL EGGS LIMITED DIRECTOR'S REPORT FOR THE YEAR ENDED 31 JULY 2025 The director presents his report and the financial statements for the year ended 31 July 2025.
Director's responsibilities statement
The director is responsible for preparing the Strategic report, the Director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the director is required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £1,264,701 (2024 - £4,327,691).
Director
The director who served during the year was:
Mr A C Heal
Page 3
HEAL EGGS LIMITED DIRECTOR'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JULY 2025
Disclosure of information to auditors
The director at the time when this Director's report is approved has confirmed that: ∙so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Auditors
The auditors, WR Partners, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. This report was approved by the board and signed on its behalf.
Mr A C Heal Director
Date: 16 March 2026
Page 4
HEAL EGGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEAL EGGS LIMITED
Opinion
We have audited the financial statements of Heal Eggs Limited (the 'Company') for the year ended 31 July 2025, which comprise the Profit and loss account, the Balance sheet, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 July 2025 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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. Page 5
HEAL EGGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEAL EGGS LIMITED (CONTINUED)
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual Report. 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. 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 course of 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.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Director's report have been prepared in accordance with applicable legal requirements. Page 6
HEAL EGGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEAL EGGS LIMITED (CONTINUED)
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of director's 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 Director's responsibilities statement set out on page 3, the director is 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 director determines is 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 director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Page 7
HEAL EGGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEAL EGGS LIMITED (CONTINUED)
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 an Auditors' report 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: The audit team obtained an understanding of the legal and regulatory frameworks that are applicable to the Company and determined that the most significant are those that relate to the reporting framework (FRS102 and the Companies Act 2006), the relevant tax compliance regulations, employment law, Health and Safety Regulations and the EU General Data Protection Regulation (GDPR). We understood how the Company is complying with these frameworks by making enquiries of management and those responsible for legal and compliance procedures. We also reviewed board minutes to identify any recorded instances of irregularity or non compliance that might have a material impact on the financial statements. We assessed the susceptibility of the Company's financial statements to material misstatement, including how fraud might occur by meeting with key management to understand where they considered there was susceptibility to fraud. Based on this understanding our procedures involved enquiries of management and those charged with governance, manual journal entry testing, cashbook reviews for large and unusual items and the challenge of significant accounting estimates used in preparing the financial statements. 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 Auditors' report. Page 8
HEAL EGGS LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF HEAL EGGS LIMITED (CONTINUED)
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 an Auditors' report 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. Andrew Malpass FCA (Senior statutory auditor) for and on behalf of WR Partners Chartered Accountants Statutory Auditors Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG 20 March 2026 Page 9
HEAL EGGS LIMITED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 JULY 2025
| 2025 | 2024
Note | £ | £
Turnover |  | 23,267,796 | 24,662,565
Cost of sales |  | (14,148,013) | (12,567,653)
Gross profit |  | 9,119,783 | 12,094,912
Administrative expenses |  | (7,410,684) | (6,550,183)
Other operating income | 4 | 103,070 | 59,452
Operating profit |  | 1,812,169 | 5,604,181
Income from other fixed asset investments |  | 170,000 | 340,000
Interest payable and similar expenses | 8 | (469,912) | (547,177)
Profit before tax |  | 1,512,257 | 5,397,004
Tax on profit | 9 | (247,556) | (1,069,313)
Profit for the financial year |  | 1,264,701 | 4,327,691
There are no items of other comprehensive income for 2025 or 2024 other than the profit for the year. As a result, no separate Statement of Comprehensive Income has been presented.
The notes on pages 14 to 31 form part of these financial statements.
There was no other comprehensive income for 2025 (2024 - £NIL)
Page 10
HEAL EGGS LIMITED REGISTERED NUMBER: 01179907 BALANCE SHEET AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 10 |  | 12,588,073 |  | 12,113,346
Investments | 11 |  | 6,561,749 |  | 6,776,042
|  |  | 19,149,822 |  | 18,889,388
Current assets |  |  |  |  |
Stocks | 12 | 2,200,372 |  | 1,470,240 |
Debtors: amounts falling due within one year | 13 | 9,225,281 |  | 8,450,784 |
Current asset investments | 14 | 17,000 |  | 17,000 |
Cash at bank and in hand | 15 | 303,918 |  | 790,937 |
|  | 11,746,571 |  | 10,728,961 |
Creditors: amounts falling due within one year | 16 | (7,050,768) |  | (4,248,217) |
Net current assets |  |  | 4,695,803 |  | 6,480,744
Total assets less current liabilities |  |  | 23,845,625 |  | 25,370,132
Creditors: amounts falling due after more than one year | 17 |  | (5,555,181) |  | (8,329,768)
Provisions for liabilities |  |  |  |  |
Deferred tax | 20 | (1,692,904) |  | (1,707,525) |
Other provisions | 21 | (175,000) |  | (175,000) |
|  |  | (1,867,904) |  | (1,882,525)
Net assets |  |  | 16,422,540 |  | 15,157,839
Page 11
HEAL EGGS LIMITED REGISTERED NUMBER: 01179907 BALANCE SHEET (CONTINUED) AS AT 31 JULY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Capital and reserves |  |  |  |  |
Called up share capital | 22 |  | 11 |  | 11
Share premium account | 23 |  | 17,462 |  | 17,462
Capital redemption reserve | 23 |  | 1 |  | 1
Profit and loss account | 23 |  | 16,405,066 |  | 15,140,365
|  |  | 16,422,540 |  | 15,157,839
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
Mr A C Heal
Director
Date: 16 March 2026
The notes on pages 14 to 31 form part of these financial statements. Page 12
HEAL EGGS LIMITED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 JULY 2025
| Called up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total equity
| £ | £ | £ | £ | £
At 1 August 2023 | 11 | 17,462 | 1 | 10,812,674 | 10,830,148
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | - | 4,327,691 | 4,327,691
Total comprehensive income for the year | - | - | - | 4,327,691 | 4,327,691
At 1 August 2024 | 11 | 17,462 | 1 | 15,140,365 | 15,157,839
Comprehensive income for the year |  |  |  |  |
Profit for the year | - | - | - | 1,264,701 | 1,264,701
Total comprehensive income for the year | - | - | - | 1,264,701 | 1,264,701
At 31 July 2025 | 11 | 17,462 | 1 | 16,405,066 | 16,422,540
| The notes on pages 14 to 31 form part of these financial statements.
Page 13
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1. | General information
Heal Eggs Limited (company number 01179907) is a private limited company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Hazeldene Office, Shawbury, Shrewsbury, Shropshire, SY4 4ET. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Heal Eggs Holdings Limited as at 31 July 2025 and these financial statements may be obtained from Companies House.
| 2.3 | Going concern
After making enquiries, the Directors have reasonable expectations the Company has adequate reserves to continue to trade for the foreseeable future. Therefore, the Company continues to adopt the going concern basis in preparing the Accounts. Page 14
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds. Page 15
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both a straight-line and reducing balance method based on the below table. Depreciation is provided on the following basis:
|  |  |  | Land and buildings | - |  | not depreciated
|  |  |  | Plant and machinery | - | 15% | reducing balance
|  |  |  | Motor vehicles | - | 25% | reducing balance
|  |  |  | Fixtures fittings and equipment | - | 2% | - 10% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 16
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.9 | Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.10 | Stocks
The companies stock is made up of the following: - Birds are valued at cost plus attributable overheads. Attributable overheads include feed consumed, vaccinations and labour. Once the birds are 15 weeks old, a weekly depreciation rate is applied. The value at the year end is therefore based on the cost less weekly depreciation depending on the age in weeks of the birds. Birds reach a net realisable value of £0 at the age of 85 weeks. Feed values are split in to two categories, being prepared feed and mill raw materials and both are valued based on the purchase cost. Eggs held in stores at the year end are valued at the lower of cost and net realisable value. Net realisable value represents estimated selling price less costs to sell.
| 2.11 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.13 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 17
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 2.Accounting policies (continued)
| 2.14 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.15 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 18
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Judgements have been made in terms of the valuation of the birds, and these have been considered and cross-checked against industry valuations to provide evidence that these are at current market values. The carrying value of the birds in the financial statements is £1,760,123 for 2025 (2024 - £1,003,299).
4. | Other operating income
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other operating income | 103,070 | 59,452
|  | 103,070 | 59,452
5. | Auditors' remuneration
| During the year, the Company obtained the following services from the Company's auditors:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 11,000 | 10,450
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
Page 19
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
6. | Employees
| Staff costs, including director's remuneration, were as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Wages and salaries | 1,813,350 | 1,774,302
| Social security costs | 144,592 | 170,608
| Staff pension costs - defined contribution schemes | 24,606 | 32,981
|  | 1,982,548 | 1,977,891
| The average monthly number of employees, including the director, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Average employees | 43 | 56
7. | Director's remuneration
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Director's emoluments | 1,833 | 11,000
| Company contributions to defined contribution pension schemes | 24 | 143
|  | 1,857 | 11,143
| During the year retirement benefits were accruing to no directors (2024 - NIL) in respect of defined contribution pension schemes.
Page 20
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
8. | Interest payable and similar expenses
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Mortgage interest payable | 453,292 | 529,367
| Finance leases and hire purchase contracts | 16,620 | 17,810
|  | 469,912 | 547,177
Page 21
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
9. | Taxation
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 558,239 | 510,619
| Adjustments in respect of previous periods | (296,062) | (4,484)
|  | 262,177 | 506,135
| Total current tax | 262,177 | 506,135
| Deferred tax |  |
| Origination and reversal of timing differences | (14,621) | 563,178
| Total deferred tax | (14,621) | 563,178
|  | 247,556 | 1,069,313
Page 22
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 9.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is lower than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%).
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 1,512,258 | 5,397,004
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%) | 579,921 | 1,349,251
| Effects of: |  |
| Capital allowances for year in excess of depreciation | 17,994 | (414,536)
| Adjustments to tax charge in respect of prior periods | (296,062) | (439,424)
| Dividends from UK companies | (42,500) | -
| Other differences leading to an increase (decrease) in the tax charge | 2,824 | 10,844
| Deferred tax | (14,621) | 563,178
| Total tax charge for the year | 247,556 | 1,069,313
| Factors that may affect future tax charges
The Company has Corporation Tax losses of £Nil available to offset against future trading profits Page 23
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
10. | Tangible fixed assets
|  | Freehold property | Plant and machinery | Motor vehicles | Other fixed assets | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 August 2024 | 791,402 | 1,724,018 | 405,841 | 18,163,152 | 21,084,413
| Additions | 27,464 | 120,418 | 104,000 | 1,415,215 | 1,667,097
| Disposals | - | (28,667) | (41,800) | (11,000) | (81,467)
| At 31 July 2025 | 818,866 | 1,815,769 | 468,041 | 19,567,367 | 22,670,043
| Depreciation |  |  |  |  |
| At 1 August 2024 | - | 675,728 | 188,835 | 8,106,504 | 8,971,067
| Charge for the year on owned assets | - | 173,420 | 29,770 | 901,291 | 1,104,481
| Charge for the year on financed assets | - | - | 15,600 | 31,250 | 46,850
| Disposals | - | (16,074) | (23,254) | (1,100) | (40,428)
| At 31 July 2025 | - | 833,074 | 210,951 | 9,037,945 | 10,081,970
| Net book value |  |  |  |  |
| At 31 July 2025 | 818,866 | 982,695 | 257,090 | 10,529,422 | 12,588,073
| At 31 July 2024 | 791,402 | 1,048,290 | 217,006 | 10,056,648 | 12,113,346
| The net book value of land and buildings may be further analysed as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Freehold | 818,865 | 791,402
|  | 818,865 | 791,402
Page 24
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025 10.Tangible fixed assets (continued)
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Plant and machinery | - | 172,561
| Motor vehicles | 88,400 | -
| Furniture, fittings and equipment | 156,250 | 201,900
|  | 244,650 | 374,461
11. | Fixed asset investments
|  | Investments in associates
|  | £
| Cost or valuation |
| At 1 August 2024 | 6,776,042
| Disposals | (214,294)
| At 31 July 2025 | 6,561,748
| Participating interests
| The investment in Heal Farms Partnership entitles Heal Eggs Limited to share in the capital and profits/losses of Heal Farms Partnership.
12. | Stocks
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Raw materials and consumables | 399,930 | 399,601
| Finished goods and goods for resale | 1,800,442 | 1,070,639
|  | 2,200,372 | 1,470,240
Page 25
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
13. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,999,349 | 2,018,966
| Amounts owed by group undertakings | 30,691 | 28,350
| Other debtors | 7,158,450 | 6,389,086
| Prepayments and accrued income | 36,791 | 14,382
|  | 9,225,281 | 8,450,784
14. | Current asset investments
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Unlisted investments | 17,000 | 17,000
|  | 17,000 | 17,000
| Heal Eggs Ltd owns 17 of 100 shares in Mercian Ltd and during the year received dividends of £170,000. (2024: £340,000)
15. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 303,918 | 790,937
|  | 303,918 | 790,937
Page 26
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
16. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 3,787,722 | 691,737
| Trade creditors | 2,707,060 | 2,476,606
| Corporation tax | 234,144 | 510,619
| Other taxation and social security | 36,052 | 37,367
| Obligations under finance lease and hire purchase contracts | 29,000 | 182,519
| Other creditors | 28,728 | 28,729
| Accruals and deferred income | 228,062 | 320,640
|  | 7,050,768 | 4,248,217
17. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,536,181 | 8,319,768
| Net obligations under finance leases and hire purchase contracts | 19,000 | 10,000
|  | 5,555,181 | 8,329,768
| Bank loans totalling £9,323,903 (2024 - £9,011,505) are secured and have been personally guaranteed by Mr A C Heal - Director.
Page 27
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
18. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 3,787,722 | 691,737
|  | 3,787,722 | 691,737
| Amounts falling due 1-2 years |  |
| Bank loans | 488,518 | 3,785,299
|  | 488,518 | 3,785,299
| Amounts falling due 2-5 years |  |
| Bank loans | 4,247,881 | 3,414,322
|  | 4,247,881 | 3,414,322
| Amounts falling due after more than 5 years |  |
| Bank loans | 799,782 | 1,120,147
|  | 799,782 | 1,120,147
|  | 9,323,903 | 9,011,505
| Included within bank loans are loans issued by Barclays Bank UK PLC totalling £9,323,903 outstanding at year end. Interest is charged at rates from 2.36% to 7.03% per annum. The various final repayment dates range from 2025 to 2030 based on the current terms.
Page 28
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
19. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | 29,000 | -
| Between 1-5 years | 19,000 | -
|  | 48,000 | -
20. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (1,707,525)
| Charged to profit or loss | 14,621
| At end of year | (1,692,904)
| The deferred tax balance is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (1,692,904) | (1,707,525)
|  | (1,692,904) | (1,707,525)
| Comprising: |  |
| Liability | (1,692,904) | (1,707,525)
|  | (1,692,904) | (1,707,525)
Page 29
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
21. | Provisions
|  | Dilapidation provision
|  | £
| At 1 August 2024 | 175,000
| At 31 July 2025 | 175,000
22. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 22 (2024 - 22) Ordinary shares of £0.50 each | 11 | 11
23. | Reserves
Profit and loss account This reserve represents the value of the cumulative retained profits and losses of the Company since incorporation, less distribution made to shareholders.
24. | Capital commitments
The company had no capital commitments at the year end. Page 30
HEAL EGGS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
25. | Related party transactions
| Transactions and year end balances with Group companies taken as exemption per reduced disclosure note at 2.2 above. During the year the company operated a loan account with its parent company, Heal Eggs Holdings Limited. Shown within debtors due within one year is the outstanding balance as at 31 July 2025, which totalled £30,690 (2024 - £28,350). The company also operated a loan account with its directors during the year. Shown within creditors due within one year is the outstanding balance owed to the directors as at 31 July 2025, which totalled £28,729 (2024 - £28,729). At no point in the year did this balance become overdrawn. The company also made purchases from companies with shared directors totalling £1,642,409 (2024: £1,733,341) and sales of £5,036,767 (2024: £2,052,520). During the year, the company recharged costs to these related parties on a cost recovery basis totalling £1,164,976, and charged interest of £100,198 on related party balances. A net balance of £6,332,374 (2024: 5,933,675) after a provision of £825,838 (2024: £Nil) has been included within other debtors. Also present at the year end is a creditor balance of £861,832 (2024: £114,822) included within trade creditors. During the year the year the company traded with Heal Farms partnership, an entity in which the company holds a participating interest. Recharges were made to Heal Farms partnership totalling £52,241 and purchases from Heal Farms partnership amounted to £621,030 with £281,114 outstanding at year end. Transactions were undertaken at arms length.
26. | Controlling party
The company is under the control of its parent company, Heal Eggs Holdings Limited. The registered office of the parent company is Astley House, Astley, Shrewsbury, Shropshire, United Kingdom, SY4 4BP.
Page 31