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REGISTERED NUMBER: 06340270 (England and Wales)

| UNAUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31ST AUGUST 2025 |

| FOR |

| SIMEON MORGAN FARMING LIMITED |

SIMEON MORGAN FARMING LIMITED (REGISTERED NUMBER: 06340270)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

SIMEON MORGAN FARMING LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31ST AUGUST 2025

| DIRECTORS: | S J Morgan

| Mrs L M Morgan

| SECRETARY: | Martin and Company (Company Secretaries) Limited

| REGISTERED OFFICE: | 25 St Thomas Street

| Winchester

| Hampshire

| SO23 9HJ

| REGISTERED NUMBER: | 06340270 (England and Wales)

| ACCOUNTANTS: | Martin and Company

| Two Brewers House

| 50 North Street

| Thame

| Oxfordshire

| OX9 3BH

SIMEON MORGAN FARMING LIMITED (REGISTERED NUMBER: 06340270)

BALANCE SHEET

31ST AUGUST 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 1,291,527 |  | 1,466,721 |  |

1,291,527 |  | 1,466,721 |  |

CURRENT ASSETS

Stocks | 349,077 |  | 545,926 |  |

Debtors | 6 | 269,679 |  | 94,634 |  |

618,756 |  | 640,560 |  |

CREDITORS

Amounts falling due within one year | 7 | 745,972 |  | 747,540 |  |

NET CURRENT LIABILITIES | (127,216 | ) | (106,980 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,164,311 |  | 1,359,741 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (187,100 | ) | (333,819 | ) |

PROVISIONS FOR LIABILITIES | (318,521 | ) | (366,680 | ) |

NET ASSETS | 658,690 |  | 659,242 |  |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | 658,590 |  | 659,142 |  |

SHAREHOLDERS' FUNDS | 658,690 |  | 659,242 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SIMEON MORGAN FARMING LIMITED (REGISTERED NUMBER: 06340270)

BALANCE SHEET - continued

31ST AUGUST 2025

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th May 2026 and were signed on its behalf by:

S J Morgan - Director

SIMEON MORGAN FARMING LIMITED (REGISTERED NUMBER: 06340270)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2025

1. | STATUTORY INFORMATION

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

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

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

| 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 | - | 12.5% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Tractors and combines | - | 12.5% on reducing balance

| Office equipment | - | 20% on 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 Statement of Income and Retained Earnings, 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.

SIMEON MORGAN FARMING LIMITED (REGISTERED NUMBER: 06340270)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST 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.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 7 (2024 - 6 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1st September 2024

| and 31st August 2025 | 1,502 |  |

| AMORTISATION

| At 1st September 2024

| and 31st August 2025 | 1,502 |  |

| NET BOOK VALUE

| At 31st August 2025 | - |  |

| At 31st August 2024 | - |  |

SIMEON MORGAN FARMING LIMITED (REGISTERED NUMBER: 06340270)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

5. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Plant and |  | Motor

| property |  | machinery |  | vehicles

£ | £ | £ |

| COST

| At 1st September 2024 | - |  | 716,989 |  | 9,495 |  |

| Additions | 17,753 |  | 124,200 |  | - |  |

| Disposals | - |  | (34,795 | ) | - |  |

| At 31st August 2025 | 17,753 |  | 806,394 |  | 9,495 |  |

| DEPRECIATION

| At 1st September 2024 | - |  | 363,057 |  | 1,353 |  |

| Charge for year | - |  | 51,606 |  | 2,035 |  |

| Eliminated on disposal | - |  | (27,744 | ) | - |  |

| At 31st August 2025 | - |  | 386,919 |  | 3,388 |  |

| NET BOOK VALUE

| At 31st August 2025 | 17,753 |  | 419,475 |  | 6,107 |  |

| At 31st August 2024 | - |  | 353,932 |  | 8,142 |  |

| Tractors |

| and |  | Office |

| combines |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1st September 2024 | 1,726,406 |  | 5,110 |  | 2,458,000 |  |

| Additions | - |  | 800 |  | 142,753 |  |

| Disposals | (215,554 | ) | - |  | (250,349 | ) |

| At 31st August 2025 | 1,510,852 |  | 5,910 |  | 2,350,404 |  |

| DEPRECIATION

| At 1st September 2024 | 623,888 |  | 2,981 |  | 991,279 |  |

| Charge for year | 118,030 |  | 804 |  | 172,475 |  |

| Eliminated on disposal | (77,133 | ) | - |  | (104,877 | ) |

| At 31st August 2025 | 664,785 |  | 3,785 |  | 1,058,877 |  |

| NET BOOK VALUE

| At 31st August 2025 | 846,067 |  | 2,125 |  | 1,291,527 |  |

| At 31st August 2024 | 1,102,518 |  | 2,129 |  | 1,466,721 |  |

| Of the plant and machinery and tractors and combines assets shown above £895,230 of the net book value (2024: £1,203,551) relates to assets held under hire purchase contracts and £150,623 of the depreciation charge for year (2024: £141,216) relates to assets held under hire purchase contracts.

SIMEON MORGAN FARMING LIMITED (REGISTERED NUMBER: 06340270)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31ST AUGUST 2025

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

2025 | 2024 |

£ | £ |

| Trade debtors | 258,452 |  | 61,148 |  |

| Other debtors | 1,500 |  | - |  |

| VAT | - |  | 26,034 |  |

| Prepayments and accrued income | 9,727 |  | 7,452 |  |

269,679 |  | 94,634 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 134,603 |  | 184,338 |  |

| Hire purchase contracts | 191,416 |  | 253,581 |  |

| Trade creditors | 40,177 |  | 77,121 |  |

| Corporation tax | 20,153 |  | - |  |

| Social security and other taxes | 2,747 |  | 2,946 |  |

| VAT | 30,083 |  | - |  |

| Other creditors | 719 |  | 154 |  |

| Directors' current accounts | 313,019 |  | 153,550 |  |

| Accruals and deferred income | 13,055 |  | 75,850 |  |

745,972 |  | 747,540 |  |

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

2025 | 2024 |

£ | £ |

| Bounce Back loan | - |  | 9,145 |  |

| Hire purchase contracts | 187,100 |  | 324,674 |  |

187,100 |  | 333,819 |  |