REGISTERED NUMBER: 10001575 (England and Wales)

Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 30 September 2025

for

Fresh Stream Services Limited

Page

Company Information

1

Group Strategic Report

2

to

3

Report of the Directors

4

Report of the Independent Auditors

5

to

8

Consolidated Statement of Comprehensive Income

9

Consolidated Balance Sheet

10

Company Balance Sheet

11

Consolidated Statement of Changes in Equity

12

Company Statement of Changes in Equity

13

Consolidated Cash Flow Statement

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

to

23

DIRECTORS:

Mr J V White

Mr A C Beba

REGISTERED OFFICE:

63 Broad Green

Wellingborough

Northamptonshire

NN8 4LQ

REGISTERED NUMBER:

10001575 (England and Wales)

SENIOR STATUTORY AUDITOR:

Adam Billingham BFP FCA

AUDITORS:

Clifford Roberts

Chartered Accountants &

Statutory Auditors

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

The directors present their strategic report of the company and the group for the year ended 30 September 2025.

REVIEW OF BUSINESS

Principal Activities

The principal activity of the group during the year continued to be the wholesale of fruits and vegetables. The Directors report that the group made a consolidated profit before tax of £1,131,653 (2024: £651,560). Shareholders funds amounted to £1,966,247 (2024: £1,394,889).

Key Performance Indicators ('KPIs')

2025

2024

£

£

Turnover

56,243,058

44,864,902

Profit before taxation

1,131,653

651,560

Shareholders funds

1,966,247

1,394,889

Gross Profit %

5.7%

5.5%

Net Profit %

2.0%

1.5%

The key performance indicators reflect a year of strong growth.

PRINCIPAL RISKS AND UNCERTAINTIES

Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board.

General economic Risk

The company is exposed to general economic risk, including changes in the economic outlook which could have an impact on the fruit and vegetable industry. Increasing levels of inflation and disruption to supply chains caused by various worldwide events and the financial and economic uncertainty that this brings. The company is also exposed to the risk of future government changes in industrial, fiscal, monetary or regulatory policies. The company has an effective revenue strategy by monitoring costs and demand. This reduces, though does not eliminate, the financial impact arising from such adverse conditions.

Price Risk

The company is exposed to price risk due to normal inflationary increases in the purchase price of goods and services in the UK.

Quality risk

Failure to meet customer expectation in terms of quality. The company focuses on maintaining the quality of their fruit and vegetables by ensuring the right conditions are set for storage and display areas by having sufficient ventilation. The Directors work closely with customers and suppliers to ensure that the products meet or exceed expectations as far as possible.

Credit risk

The company seeks to manage its credit risk by establishing clear contractual relationships with customers and by identifying and addressing any credit issues arising in a timely manner. There is also a policy in place to carry out appropriate credit checks on potential customers before sales are made.

Liquidity Risk

Management maintain cash flow in order to ensure the company is able to meet its liabilities as they fall due.

FUTURE DEVELOPMENTS

The management are focused on improving sales of fruits and vegetables and continuing to increase profitability, liquidity and the strength of the consolidated balance sheet.

ON BEHALF OF THE BOARD:

Mr J V White - Director

7 May 2026

The directors present their report with the financial statements of the company and the group for the year ended 30 September 2025.

DIVIDENDS

The total distribution of dividends for the year ended 30 September 2025 will be £285,000 (2024: £159,600).

DIRECTORS

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

Mr J V White

Mr A C Beba

DISCLOSURE IN THE STRATEGIC REPORT

The disclosures relating to events occurring after the year end, likely future developments and research and development activities are disclosed within the strategic report.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, Clifford Roberts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr J V White - Director

7 May 2026

Opinion

We have audited the financial statements of Fresh Stream Services Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 30 September 2025 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

- We obtained an understanding of the legal and regulatory framework applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK Generally Accepted Accounting Practice, UK corporate taxation laws.

- We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and by observing the oversight of management, the culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud prevention, which may reduce the opportunities for fraud to take place, and fraud deterrence, which could persuade individuals not to commit fraud in the first instance.

We corroborated our inquiries through our review of all relevant available audit information.

> identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud;

> understanding of how senior management considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

> challenging assumptions and judgements made by management in its significant accounting estimates;

> performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; and,

> assessing the extent of compliance with relevant laws and regulations.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Adam Billingham BFP FCA (Senior Statutory Auditor)

for and on behalf of Clifford Roberts

Chartered Accountants &

Statutory Auditors

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

7 May 2026

TURNOVER

3

56,243,058

44,864,902

Cost of sales

53,073,944

42,401,863

GROSS PROFIT

3,169,114

2,463,039

Administrative expenses

2,069,581

1,836,841

1,099,533

626,198

Other operating income

9,207

13,890

OPERATING PROFIT

5

1,108,740

640,088

Income from other participating interests

22,913

11,472

PROFIT BEFORE TAXATION

1,131,653

651,560

Tax on profit

6

275,295

167,379

PROFIT FOR THE FINANCIAL YEAR

856,358

484,181

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

856,358

484,181

Profit attributable to:

Owners of the parent

856,358

484,181

Total comprehensive income attributable to:

Owners of the parent

856,358

484,181

FIXED ASSETS

Tangible assets

9

119,559

138,120

Investments

10

Interest in joint venture

Share of gross assets

290,752

284,139

Share of gross liabilities

(256,367

)

(272,667

)

34,385

11,472

Interest in associate

34

34

153,978

149,626

CURRENT ASSETS

Stocks

11

683,008

434,471

Debtors

12

5,702,749

7,612,981

Cash at bank

3,314,744

1,957,414

9,700,501

10,004,866

CREDITORS

Amounts falling due within one year

13

7,858,342

8,725,073

NET CURRENT ASSETS

1,842,159

1,279,793

TOTAL ASSETS LESS CURRENT LIABILITIES

1,996,137

1,429,419

PROVISIONS FOR LIABILITIES

14

29,890

34,530

NET ASSETS

1,966,247

1,394,889

CAPITAL AND RESERVES

Called up share capital

15

10

10

Share premium

16

5,889

5,889

Retained earnings

16

1,960,348

1,388,990

SHAREHOLDERS' FUNDS

1,966,247

1,394,889

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2026 and were signed on its behalf by:

Mr J V White - Director

FIXED ASSETS

Tangible assets

9

16,472

12,058

Investments

10

35

35

16,507

12,093

CURRENT ASSETS

Debtors

12

204,799

169,106

Cash at bank

21,055

11,834

225,854

180,940

CREDITORS

Amounts falling due within one year

13

205,635

123,604

NET CURRENT ASSETS

20,219

57,336

TOTAL ASSETS LESS CURRENT LIABILITIES

36,726

69,429

PROVISIONS FOR LIABILITIES

14

4,118

3,015

NET ASSETS

32,608

66,414

CAPITAL AND RESERVES

Called up share capital

15

10

10

Share premium

16

5,889

5,889

Retained earnings

16

26,709

60,515

SHAREHOLDERS' FUNDS

32,608

66,414

Company's profit for the financial year

251,194

62,484

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2026 and were signed on its behalf by:

Mr J V White - Director

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 October 2023

10

1,064,409

5,889

1,070,308

Changes in equity

Dividends

-

(159,600

)

-

(159,600

)

Total comprehensive income

-

484,181

-

484,181

Balance at 30 September 2024

10

1,388,990

5,889

1,394,889

Changes in equity

Dividends

-

(285,000

)

-

(285,000

)

Total comprehensive income

-

856,358

-

856,358

Balance at 30 September 2025

10

1,960,348

5,889

1,966,247

Called up

share

Retained

Share

Total

capital

earnings

premium

equity

£

£

£

£

Balance at 1 October 2023

10

157,631

5,889

163,530

Changes in equity

Dividends

-

(159,600

)

-

(159,600

)

Total comprehensive income

-

62,484

-

62,484

Balance at 30 September 2024

10

60,515

5,889

66,414

Changes in equity

Dividends

-

(285,000

)

-

(285,000

)

Total comprehensive income

-

251,194

-

251,194

Balance at 30 September 2025

10

26,709

5,889

32,608

Cash flows from operating activities

Cash generated from operations

1

1,786,661

1,166,838

Tax paid

(134,530

)

(146,898

)

Net cash from operating activities

1,652,131

1,019,940

Cash flows from investing activities

Purchase of tangible fixed assets

(9,801

)

(120,037

)

Net cash from investing activities

(9,801

)

(120,037

)

Cash flows from financing activities

Equity dividends paid

(285,000

)

(159,600

)

Net cash from financing activities

(285,000

)

(159,600

)

Increase in cash and cash equivalents

1,357,330

740,303

Cash and cash equivalents at beginning of year

2

1,957,414

1,217,111

Cash and cash equivalents at end of year

2

3,314,744

1,957,414

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

1,131,653

651,560

Depreciation charges

28,362

22,297

Finance income

(22,913

)

(11,472

)

1,137,102

662,385

Increase in stocks

(248,537

)

(156,179

)

Decrease/(increase) in trade and other debtors

1,910,232

(2,529,301

)

(Decrease)/increase in trade and other creditors

(1,012,136

)

3,189,933

Cash generated from operations

1,786,661

1,166,838

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 September 2025

30.9.25

1.10.24

£

£

Cash and cash equivalents

3,314,744

1,957,414

Year ended 30 September 2024

30.9.24

1.10.23

£

£

Cash and cash equivalents

1,957,414

1,217,111

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.10.24

Cash flow

At 30.9.25

£

£

£

Net cash

Cash at bank

1,957,414

1,357,330

3,314,744

1,957,414

1,357,330

3,314,744

Total

1,957,414

1,357,330

3,314,744

1.	STATUTORY INFORMATION

Fresh Stream Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are presented in Sterling (£) and are made up to 30th September each year.

Basis of consolidation

The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31st March each year. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.

Investment in subsidiaries

In the parent company financial statements, investment in subsidiaries are accounted for at cost less impairment. Impairment losses are recognised immediately in the income statement.

Associate undertaking and joint ventures

The group has associated undertakings and joint ventures, the details of which are shown in the 'Fixed Asset Investment' note. The group includes the associated undertakings and joint ventures using the equity method in line withe requirements of FRS102.

Significant judgements and estimates

In the application of the group's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The company does not believe it has any significant accounting estimates but continually reviews this annually.

Revenue

Turnover represents net invoices sale of goods and services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

20% on cost

Computer equipment

-

33% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts, where applicable, are shown within borrowings in current liabilities.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.

TURNOVER

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

The company classifies its revenue as all generated from one class of business, being the sale of fresh produce.

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

806,236

858,831

Social security costs

93,956

47,794

Other pension costs

80,485

37,118

980,677

943,743

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

2025

2024

Officers

2

2

Administration

12

9

14

11

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2024 - NIL).

2025

2024

£

£

Directors' remuneration

142,958

59,500

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Other operating leases

14,716

14,716

Depreciation - owned assets

28,362

22,296

Auditors' remuneration

25,000

25,000

Foreign exchange differences

2,209

(264

)

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

279,935

134,530

Deferred tax

(4,640

)

32,849

Tax on profit

275,295

167,379