Harvest Wildlife Products Ltd (formerly known as Harvest Pet Products Ltd) Company accounts

COMPANY REGISTRATION NUMBER: 05486678

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 July 2025

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	4

Independent auditor's report to the members	6

Statement of comprehensive income	10

Statement of financial position	11

Statement of changes in equity	13

Statement of cash flows	14

Notes to the financial statements	16

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	A Phillips
	M T B Bryant

Company secretary	A Phillips

Registered office	The Granary Stone Pit Lane
	Keelby
	Grimsby
	England
	United Kingdom
	DN41 8NB

Auditor	Streets Audit LLP
	Chartered Accountants & statutory auditor
	Tower House
	Lucy Tower Street
	Lincoln
	LN1 1XW

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

STRATEGIC REPORT

YEAR ENDED 31 JULY 2025

Review of the business

The principal activity of the company during the year was the manufacture and sale of wildlife products. The company has shown a decrease in turnover during the year to £17.1m (2024: £18.4m). Similarly, gross profit has decreased to £3.2m (2024: £4m) from the decrease in sales and the gross profit margin to 18.7% (2024: 21.8%). Turnover and gross margin are the key performance indicators used by the directors in managing the business and are monitored through monthly management accounts. The profit for the year before taxation is £24,193 (2024: profit of £1.2m).

Principal risks and uncertainties

The principal risks and uncertainties faced by the business are: Commodity prices and continuity in supply Some of our main raw materials are commodities traded on markets around the world which means the business can be exposed to volatility in price from fluctuations in supply and demand. The company aims to ethically source widely from multiple suppliers and where possible agree long term supply contracts to agree a fixed price and bring a high degree of certainty. Competitive pressures The marketplace we sell into is competitive. We strive to provide a best-in-class service in availability, quality and value for money in what we offer. We have again invested significantly in new plant and equipment, systems and employees to maintain our USP and become the 'one-stop shop'. We will continue to do this to enable us to stay competitive in the marketplace. Credit risk Credit risk is managed by working closely with customers, suppliers and prospective trading partners in the assessment of risk and the basis of how trade is conducted. Trade credit insurance is obtained to protect against default of amounts owed by customers.

This report was approved by the board of directors on 29 April 2026 and signed on behalf of the board by:

M T B Bryant

Director

Registered office:

The Granary Stone Pit Lane

Keelby

Grimsby

England

United Kingdom

DN41 8NB

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

DIRECTORS' REPORT

YEAR ENDED 31 JULY 2025

The directors present their report and the Financial Statements of the company for the year ended 31 July 2025 .

Directors

The directors who served the company during the year were as follows:

A Phillips
M T B Bryant

Dividends

Particulars of paid dividends are detailed in note 13 to the Financial Statements.

Future developments

There are no important events, future developments or activities in the fields of research and development.

Disclosure of information in the strategic report

The company has chosen in accordance with section 414C(11) of the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 to set out in the company's strategic report information required by schedule 7 of the Large and Medium-sized Companies and Groups (Accountants and Reports) Regulations 2008.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report 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 profit or loss of the company for that period. In preparing these Financial Statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board of directors on 29 April 2026 and signed on behalf of the board by:

M T B Bryant

Director

Registered office:

The Granary Stone Pit Lane

Keelby

Grimsby

England

United Kingdom

DN41 8NB

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

YEAR ENDED 31 JULY 2025

Opinion

We have audited the Financial Statements of Harvest Wildlife Products Ltd (formerly known as Harvest Pet Products Ltd) (the 'company') for the year ended 31 July 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows 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 FRS 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; - 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 auditor's 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 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 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 other information comprises the information included in the annual report, other than the Financial Statements and our auditor’s report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the Financial Statements or a material misstatement of the other information. 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 strategic report and the directors' report for the financial year for which the Financial Statements are prepared is consistent with the Financial Statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' 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 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 directors' responsibilities statement, 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 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 auditor’s 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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company and the manufacturing sector in which it operates; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including health and safety legislation, the Companies Act 2006, taxation legislation, employment and environmental legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; and - enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 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 auditor’s report.

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 auditor's 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.

Robert Anderson

(Senior Statutory Auditor)

For and on behalf of

Streets Audit LLP

Chartered Accountants & statutory auditor

Tower House

Lucy Tower Street

Lincoln

LN1 1XW

30 April 2026

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

STATEMENT OF COMPREHENSIVE INCOME

YEAR ENDED 31 JULY 2025

		2025	2024
Note		£	£
Turnover	4	17,105,463	18,396,701

Cost of sales	13,882,295	14,384,265
	---------------	---------------
Gross profit	3,223,168	4,012,436

Distribution costs		1,083,951	996,035
Administrative expenses		2,026,255	1,637,862
Other operating income	5	9,965	25,018
		--------------	--------------
Operating profit	6	122,927	1,403,557

Other interest receivable and similar income	10	2,685	2,831
Interest payable and similar expenses	11	101,419	189,063
		--------------	--------------
Profit before taxation		24,193	1,217,325

Tax on profit	12	( 75,084)	382,827
		---------	--------------
Profit for the financial year		99,277	834,498
		---------	--------------

Revaluation of tangible assets	583,357	–
Deferred tax movement	( 124,741)	–
	-----------	-----
Other comprehensive income for the year	458,616	–
	-----------	-----------
Total comprehensive income for the year	557,893	834,498
	-----------	-----------

All the activities of the company are from continuing operations.

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

STATEMENT OF FINANCIAL POSITION

31 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	14	86,740	99,281
Tangible assets	15	4,112,126	3,831,489
		--------------	--------------
		4,198,866	3,930,770

Current assets

Stocks	16	926,164	890,317
Debtors	17	3,322,333	3,582,640
Cash at bank and in hand		219,798	449,256
		--------------	--------------
		4,468,295	4,922,213

Creditors: amounts falling due within one year	19	6,153,065		6,163,842
		--------------		--------------
Net current liabilities			1,684,770	1,241,629
			--------------	--------------
Total assets less current liabilities			2,514,096	2,689,141

Creditors: amounts falling due after more than one year	20		226,089	624,052

Provisions	22	669,461	578,632
		--------------	--------------
Net assets		1,618,546	1,486,457
		--------------	--------------

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

STATEMENT OF FINANCIAL POSITION (continued)

31 July 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	26	215	215
Revaluation reserve	27	458,616	–
Capital redemption reserve	27	5	5
Profit and loss account	27	1,159,710	1,486,237
		--------------	--------------
Shareholders funds		1,618,546	1,486,457
		--------------	--------------

These Financial Statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.

These Financial Statements were approved by the board of directors and authorised for issue on 29 April 2026 , and are signed on behalf of the board by:

M T B Bryant

Director

Company registration number: 05486678

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 JULY 2025

			Called up share capital	Revaluation reserve	Capital redemption reserve	Profit and loss account	Total
Note			£	£	£	£	£
At 1 August 2023			215	–	5	1,015,275	1,015,495

Profit for the year						834,498	834,498
			-----	-----	-----	--------------	--------------
Total comprehensive income for the year			–	–	–	834,498	834,498

Dividends paid and payable		13	–	–	–	( 363,536)	( 363,536)
			-----	-----	-----	--------------	--------------
Total investments by and distributions to owners			–	–	–	( 363,536)	( 363,536)

At 31 July 2024			215	–	5	1,486,237	1,486,457

Profit for the year						99,277	99,277
Other comprehensive income for the year:
	Revaluation of tangible assets	15	–	583,357	–	–	583,357
	Deferred tax movement		–	( 124,741)	–	–	( 124,741)
			-----	-----------	-----	--------------	--------------
Total comprehensive income for the year			–	458,616	–	99,277	557,893

Dividends paid and payable		13	–	–	–	( 425,804)	( 425,804)
			-----	-----	-----	-----------	-----------
Total investments by and distributions to owners			–	–	–	( 425,804)	( 425,804)

			-----	-----------	-----	--------------	--------------
At 31 July 2025			215	458,616	5	1,159,710	1,618,546
			-----	-----------	-----	--------------	--------------

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

STATEMENT OF CASH FLOWS

YEAR ENDED 31 JULY 2025

	2025	2024
Note	£	£

Cash flows from operating activities

Profit for the financial year	99,277	834,498

Adjustments for:
Depreciation of tangible assets	349,217	461,202
Impairment of tangible assets	–	64,990
Amortisation of intangible assets	12,541	12,541
Government grant income	( 1,922)	( 2,261)
Other interest receivable and similar income	( 2,685)	( 2,831)
Interest payable and similar expenses	101,419	189,063
(Gains)/loss on disposal of tangible assets	( 2,289)	23,358
Tax on profit	( 75,084)	382,827
Accrued (income)/expenses	( 95,539)	68,968

Changes in:
Stocks	( 35,847)	165,418
Trade and other debtors	260,307	( 205,359)
Trade and other creditors	( 771,206)	( 1,336,535)
	-----------	--------------
Cash generated from operations	( 161,811)	655,879

Interest paid	( 101,419)	( 189,063)
Interest received	2,685	2,831
Tax received	41,172	–
	-----------	-----------
Net cash (used in)/from operating activities	( 219,373)	469,647
	-----------	-----------

Cash flows from investing activities

Purchase of tangible assets	( 71,995)	( 312,029)
Proceeds from sale of tangible assets	27,787	19,370
	-----------	-----------
Net cash used in investing activities	( 44,208)	( 292,659)
	-----------	-----------

Cash flows from financing activities

Proceeds from borrowings	–	529,882
Repayments of borrowings	( 168,447)	( 178,106)
Government grant income	1,922	2,261
Payments of finance lease liabilities	( 322,692)	( 288,257)
	-----------	-----------
Net cash (used in)/from financing activities	( 489,217)	65,780
	-----------	-----------

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

STATEMENT OF CASH FLOWS (continued)

YEAR ENDED 31 JULY 2025

		2025	2024
Note		£	£
Net (decrease)/increase in cash and cash equivalents		( 752,798)	242,768
Cash and cash equivalents at beginning of year		449,256	206,488
		-----------	-----------
Cash and cash equivalents at end of year	18	( 303,542)	449,256
		-----------	-----------

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JULY 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Granary Stone Pit Lane, Keelby, Grimsby, England, DN41 8NB, United Kingdom.

2. Statement of compliance

These Financial Statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company has net current liabilities, which necessitates the directors to consider whether the financial statements should be prepared on a going concern basis. Following the review of forecasts and current and future funding arrangements the directors are satisfied that the company has sufficient working capital. The directors therefore do not consider there to be any material uncertainty regarding the company's ability to continue as a going concern. Accordingly, the directors have adopted the going concern basis for the preparation of these financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. Significant judgements There are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies which have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial year are as follows: (i) Depreciation charges The annual depreciation charge for tangible assets is sensitive to changes in the useful economic lives and residual values of the assets. These are reviewed periodically by the Directors to ensure that they reflect both external and internal factors. (ii) Stock valuation The company values stock on a standard cost basis therefore it is sensitive to changes in market prices and demand. These costings are reviewed on an annual basis by the directors to ensure that they reflect both external and internal factors.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Goodwill

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	8.33% - 20% straight line
Fixtures, fittings and equipment	-	15% straight line
Motor vehicles	-	25% straight line

	Property alterations	-	15% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and net realisable value. Cost is determined on a standard cost basis and includes all direct costs and an appropriate proportion of fixed and variable overheads. Net realisable value represents the estimated selling price less costs to complete and appropriate selling and distribution costs. Provisions are made, where necessary, for slow moving, obsolete and defective stock.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	17,105,463	18,396,701
	---------------	---------------

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

5. Other operating income

	2025	2024
	£	£
Government grant income	1,922	2,261
Other operating income	8,043	22,757
	--------	---------
	9,965	25,018
	--------	---------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2025	2024
	£	£
Amortisation of intangible assets	12,541	12,541
Depreciation of tangible assets	349,217	461,202

Impairment of tangible assets recognised in:

	Cost of sales	–	64,990
(Gains)/loss on disposal of tangible assets		( 2,289)	23,358
Operating lease payments		218,143	56,249
Research and development expenditure		–	159,193
		-----------	-----------

7. Auditor's remuneration

	2025	2024
	£	£
Fees payable for the audit of the financial statements	8,250	8,000
	--------	--------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	17,163	22,544
	---------	---------

8. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
	No.	No.
Production staff	54	58
Administrative staff	29	24
Management staff	2	2
	-----	-----
	85	84
	-----	-----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2025	2024
	£	£
Wages and salaries	2,944,266	2,613,405
Social security costs	302,501	237,908
Other pension costs	115,469	81,279
	--------------	--------------
	3,362,236	2,932,592
	--------------	--------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	37,972	37,141
Company contributions to defined contribution pension plans	15,600	15,600
	---------	---------
	53,572	52,741
	---------	---------

The number of directors who accrued benefits under company pension plans was as follows:

	2025	2024
	No.	No.
Defined contribution plans	2	2
	-----	-----

10. Other interest receivable and similar income

	2025	2024
	£	£
Interest on bank deposits	2,685	2,831
	--------	--------

11. Interest payable and similar expenses

	2025	2024
	£	£
Interest on banks loans and overdrafts	38,100	109,748
Interest on obligations under finance leases and hire purchase contracts	63,306	79,042
Other interest payable and similar charges	13	273
	-----------	-----------
	101,419	189,063
	-----------	-----------

12. Tax on profit

Major components of tax (income)/expense

	2025	2024
	£	£

Current tax:

Adjustments in respect of prior periods	( 41,172)	–

Deferred tax:

Origination and reversal of timing differences	( 33,912)	382,827
	---------	-----------
Tax on profit	( 75,084)	382,827
	---------	-----------

The company has tax losses available to carry forward, the effect of which is included within the deferred tax provision disclosed in Note 22.

Reconciliation of tax (income)/expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	24,193	1,217,325
	---------	--------------
Profit on ordinary activities by rate of tax	812	304,331
Adjustment to tax charge in respect of prior periods	( 41,172)	–
Effect of expenses not deductible for tax purposes	1,119	–
Effect of capital allowances and depreciation	( 74)	442,565
Utilisation of tax losses	( 35,769)	( 364,069)
	---------	--------------
Tax on profit	( 75,084)	382,827
	---------	--------------

13. Dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )	425,804	363,536
	-----------	-----------

14. Intangible assets

	Goodwill
	£
Cost
At 1 August 2024 and 31 July 2025	300,408
	-----------
Amortisation
At 1 August 2024	201,127
Charge for the year	12,541
	-----------
At 31 July 2025	213,668
	-----------
Carrying amount
At 31 July 2025	86,740
	-----------
At 31 July 2024	99,281
	-----------

15. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Property alterations	Total
	£	£	£	£	£	£
Cost or valuation
At 1 Aug 2024	1,129,672	4,680,218	245,268	94,489	418,268	6,567,915
Additions	–	40,407	7,426	–	24,162	71,995
Disposals	–	–	–	( 35,997)	–	( 35,997)
Revaluations	498,965	–	–	–	–	498,965
	--------------	--------------	-----------	---------	-----------	--------------
At 31 Jul 2025	1,628,637	4,720,625	252,694	58,492	442,430	7,102,878
	--------------	--------------	-----------	---------	-----------	--------------
Depreciation
At 1 Aug 2024	160,806	2,196,020	153,363	28,496	197,741	2,736,426
Charge for the year	19,535	231,857	34,526	16,123	47,176	349,217
Disposals	–	–	–	( 10,499)	–	( 10,499)
Revaluations	( 84,392)	–	–	–	–	( 84,392)
	--------------	--------------	-----------	---------	-----------	--------------
At 31 Jul 2025	95,949	2,427,877	187,889	34,120	244,917	2,990,752
	--------------	--------------	-----------	---------	-----------	--------------
Carrying amount
At 31 Jul 2025	1,532,688	2,292,748	64,805	24,372	197,513	4,112,126
	--------------	--------------	-----------	---------	-----------	--------------
At 31 Jul 2024	968,866	2,484,198	91,905	65,993	220,527	3,831,489
	--------------	--------------	-----------	---------	-----------	--------------

Tangible assets held at valuation

During the year the directors have reviewed accounting estimates in relation to the depreciation rates used and residual values. The directors have changed the depreciation policy for plant and machinery to reflect revised residual values and a change in useful life from 10 to 12 years on certain assets, which they believe more fairly reflects the consumption of economic benefit of the assets. The effect of this change in accounting estimate has increased profits before tax during the year by £118,043. During the year the directors adopted the revaluation model for Freehold property under FRS 102 Section 17. This has been applied prospectively from the date of revaluation as no historical valuations were available. Freehold property was revalued as at 29 May 2025 by the directors, based on information and market evidence provided by external commercial property specialists. The revaluation resulted in an uplift of £583,357, which has been recognised in the revaluation reserve. Had the property continued to be measured at historical cost, the carrying amount would have been £916,643, including accumulated depreciation.

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery
	£
At 31 July 2025	915,486
	-----------
At 31 July 2024	1,133,498
	--------------

16. Stocks

	2025	2024
	£	£
Raw materials and consumables	724,364	584,095
Finished goods and goods for resale	201,800	306,222
	-----------	-----------
	926,164	890,317
	-----------	-----------

17. Debtors

	2025	2024
	£	£
Trade debtors	2,420,974	2,942,447
Prepayments and accrued income	288,363	180,691
Directors loan account	459,102	331,369
Other debtors	153,894	128,133
	--------------	--------------
	3,322,333	3,582,640
	--------------	--------------

Trade debtors have been given as security in an invoice discounting agreement.

18. Cash and cash equivalents

Cash and cash equivalents comprise the following:

	2025	2024
	£	£
Cash at bank and in hand	219,798	449,256
Bank overdrafts	( 523,340)	–
	-----------	-----------
	( 303,542)	449,256
	-----------	-----------

19. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	607,519	168,448
Trade creditors	2,429,237	2,246,297
Accruals and deferred income	215,686	313,147
Social security and other taxes	498,668	637,878
Obligations under finance leases and hire purchase contracts	293,965	302,872
Other creditors - invoice discounting	2,076,319	2,440,187
Other creditors	31,671	55,013
	--------------	--------------
	6,153,065	6,163,842
	--------------	--------------

Bank overdrafts and loans are secured against the assets of the company. Invoice discounting is secured against trade debtors. Hire purchase and finance lease liabilities are secured against the individual fixed assets.

20. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	84,178
Obligations under finance leases and hire purchase contracts	226,089	539,874
	-----------	-----------
	226,089	624,052
	-----------	-----------

Bank overdrafts and loans are secured against the assets of the company. Hire purchase and finance lease liabilities are secured against the individual fixed assets.

21. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	293,965	338,204
Later than 1 year and not later than 5 years	226,089	504,542
	-----------	-----------
	520,054	842,746
	-----------	-----------

22. Provisions

	Deferred tax (note 23)
	£
At 1 August 2024	578,632
Additions	90,829
	-----------
At 31 July 2025	669,461
	-----------

23. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 22)	669,461	578,632
	-----------	-----------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	580,764	650,439
Revaluation of tangible assets	124,742	–
Unused tax losses	( 36,045)	( 71,807)
	-----------	-----------
	669,461	578,632
	-----------	-----------

24. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 115,469 (2024: £ 81,279 ).

25. Government grants

The amounts recognised in the Financial Statements for government grants are as follows:

	2025	2024
	£	£

Recognised in creditors:

Deferred government grants due within one year	10,891	12,813
	---------	---------

Recognised in other operating income:

Government grants released to profit or loss	1,922	2,261
	--------	--------

26. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 0.01 each	7,300	73	7,300	73
Ordinary A shares of £ 0.01 each	2,700	27	2,700	27
Ordinary B shares of £ 0.01 each	4,400	44	4,400	44
Ordinary D shares of £ 0.01 each	2,700	27	2,700	27
Ordinary E shares of £ 0.01 each	4,400	44	4,400	44
	---------	-----	---------	-----
	21,500	215	21,500	215
	---------	-----	---------	-----

All shares hold full voting rights, right to a dividend and repayment of capital bar ordinary D & E shares which hold no voting rights but right to a dividend and repayment of capital. Subsequent to the year-end 235 Ordinary C shares were issued.

27. Reserves

Revaluation reserve - This reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company. Profit and loss account - This reserve records retained earnings and accumulated losses.

28. Analysis of changes in net debt

	At 1 Aug 2024	Cash flows	At 31 Jul 2025
	£	£	£
Cash at bank and in hand	449,256	(229,458)	219,798
Bank overdrafts	–	(523,340)	(523,340)
Debt due within one year	(471,320)	93,176	(378,144)
Debt due after one year	(624,052)	397,963	(226,089)
	-----------	-----------	-----------
	( 646,116)	( 261,659)	( 907,775)
	-----------	-----------	-----------

29. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	251,513	218,143
Later than 1 year and not later than 5 years	575,207	687,677
	-----------	-----------
	826,720	905,820
	-----------	-----------

30. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
A Phillips	149,603	187,825	( 149,603)	187,825
M T B Bryant	181,766	271,277	( 181,766)	271,277
	-----------	-----------	-----------	-----------
	331,369	459,102	( 331,369)	459,102
	-----------	-----------	-----------	-----------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
A Phillips	74,744	191,656	( 116,797)	149,603
M T B Bryant	94,303	240,969	( 153,506)	181,766
	-----------	-----------	-----------	-----------
	169,047	432,625	( 270,303)	331,369
	-----------	-----------	-----------	-----------

HARVEST WILDLIFE PRODUCTS LTD (FORMERLY KNOWN AS HARVEST PET PRODUCTS LTD)

NOTES TO THE FINANCIAL STATEMENTS (continued)

YEAR ENDED 31 JULY 2025

31. Related party transactions

The company is controlled by the directors.

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the company. The total compensation paid to key management personnel for services provided to the company was £ 641,328 (2024: £ 476,865 ).