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REGISTERED NUMBER: 12727165 (England and Wales)

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 AUGUST 2025 |

| FOR |

| DODSON & HORRELL LIMITED |

DODSON & HORRELL LIMITED (REGISTERED NUMBER: 12727165)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 2 |

DODSON & HORRELL LIMITED (REGISTERED NUMBER: 12727165)

BALANCE SHEET

31 AUGUST 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 10,362 |  | 9,967 |  |

CURRENT ASSETS

Debtors | 5 | 2,552,384 |  | 2,426,279 |  |

Cash at bank | 21,856 |  | 2,853 |  |

2,574,240 |  | 2,429,132 |  |

CREDITORS

Amounts falling due within one year | 6 | 2,149,344 |  | 2,353,789 |  |

NET CURRENT ASSETS | 424,896 |  | 75,343 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 435,258 |  | 85,310 |  |

PROVISIONS FOR LIABILITIES | 1,796 |  | 1,523 |  |

NET ASSETS | 433,462 |  | 83,787 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 433,461 |  | 83,786 |  |

433,462 |  | 83,787 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 January 2026 and were signed on its behalf by:

E P Lea - Director

DODSON & HORRELL LIMITED (REGISTERED NUMBER: 12727165)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1. | STATUTORY INFORMATION

| Dodson & Horrell Limited is a private company limited by shares, incorporated in England and Wales. The company's registered number is 12727165 and registered office is Aston Mill, Aston, Nr Nantwich, Cheshire, CW5 8DH.

| The principal activity of the company is that of equine merchanting and distribution.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| The financial statements represent the results of the individual entity. The presentation and functional currency is £ sterling.

| Critical accounting judgements and key sources of estimation uncertainty

| In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

| Trade debtors recoverability

| Amounts recoverable on trade debtors are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. The directors make estimates as to the recoverability of these debts and provide for them accordingly.

| From a completeness perspective, the directors are not aware of any other critical judgements within the company that give rise to a significant risk of material adjustment within the next financial year.

| Turnover

| Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax and trade discounts. Turnover is recognised on the despatch of goods.

DODSON & HORRELL LIMITED (REGISTERED NUMBER: 12727165)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives and is provided on the following basis:

| Plant and machinery |  | 25% on cost |  |

| 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 the income statement.

| At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

| If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

| Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

DODSON & HORRELL LIMITED (REGISTERED NUMBER: 12727165)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Basic financial assets, which include trade debtors, other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

| 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 deducting all of its liabilities.

| Basic financial liabilities, including trade creditors, other creditors and amounts owed to group undertakings, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

| Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

| Taxation

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

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

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

| Deferred tax

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

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

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

| Foreign currencies

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

DODSON & HORRELL LIMITED (REGISTERED NUMBER: 12727165)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

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

| Going concern

| At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 21 (2024 - 17 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| At 1 September 2024 | 17,590 |  |

| Additions | 5,000 |  |

| At 31 August 2025 | 22,590 |  |

| DEPRECIATION

| At 1 September 2024 | 7,623 |  |

| Charge for year | 4,605 |  |

| At 31 August 2025 | 12,228 |  |

| NET BOOK VALUE

| At 31 August 2025 | 10,362 |  |

| At 31 August 2024 | 9,967 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 2,034,775 |  | 2,369,582 |  |

| Amounts owed by group undertakings | 408,535 |  | - |  |

| Other debtors | 109,074 |  | 56,697 |  |

2,552,384 |  | 2,426,279 |  |

| Amounts owed by group undertakings are non-interest bearing and repayable on demand.

DODSON & HORRELL LIMITED (REGISTERED NUMBER: 12727165)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 AUGUST 2025

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

2025 | 2024 |

£ | £ |

| Trade creditors | 103,080 |  | 138,066 |  |

| Amounts owed to group undertakings | 1,789,824 |  | 2,062,913 |  |

| Taxation and social security | 157,155 |  | 47,250 |  |

| Other creditors | 99,285 |  | 105,560 |  |

2,149,344 |  | 2,353,789 |  |

| Amounts owed to group undertakings are non-interest bearing and repayable on demand.

7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Karen Dent (Senior Statutory Auditor)

| for and on behalf of Harold Sharp Limited

8. | RELATED PARTY DISCLOSURES

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

9. | ULTIMATE PARENT COMPANY

| The parent company and ultimate parent company is Agri Feed Holdings Limited, a company registered in England and Wales, whose registered office is Aston Mill, Aston, Near Nantwich, Cheshire, CW5 8DH. Copies of the consolidated financial statements are available from Companies House.

| In the opinion of the directors the group does not have an individual ultimate controlling party.