Company registration number 01053707 (England and Wales)
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
COMPANY INFORMATION
Directors
Mr B Etherington
Mr T Etherington
Mr M B Etherington
Mr S Etherington
Secretary
Mrs D L Chilton
Company number
01053707
Registered office
Preston Road
Inskip
Preston
PR4 0TT
Auditor
Xeinadin Audit Limited
Dalton House
9 Dalton Square
Lancaster
Lancashire
United Kingdom
LA1 1WD
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Directors' responsibilities statement
3
Independent auditor's report
4 - 6
Statement of income and retained earnings
7
Balance sheet
8
Statement of cash flows
9
Notes to the financial statements
10 - 21
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 1 -

The directors present the strategic report for the year ended 28 February 2026.

Principal activities

The principal activity of the company continued to be that of processing and wholesaling of chilled foods.

Review of the business

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

As a poultry and meat wholesaler the company continues to supply its product to the wholesale sector.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being gross profit and operating profit.

We are satisfied that all divisions of the business have performed satisfactorily and in line with expectations, given the difficult and fluctuating conditions affecting the sector.

Gross profit has increased to £3,658,492 from £3,408,861. The operating profit has increased to £874,271 from £744,361 and profit before tax has increased to £835,744 from £710,527.

The profit for the year, after taxation, amounted to £631,226 compared to £528,790 in the previous year.

Particulars of dividends paid are detailed in note 11 to the financial statements

Principal risks and uncertainties

As for many businesses of our size, the business environment in which we operate continues to be challenging. The fluctuating product prices and distribution costs are having a direct impact on our operating profits and continue to be a major concern.

With these risks and uncertainties in mind, we are aware that any plans for the future development of our business may be affected by unforeseen future events outside of our control.

On behalf of the board

Mr S Etherington
Director
11 May 2026
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 2 -

The directors present their annual report and financial statements for the year ended 28 February 2026.

Results and dividends

The results for the year are set out on page 7.

Ordinary dividends were paid amounting to £529,422. The directors do not recommend payment of a final dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr B Etherington
Mr T Etherington
Mr M B Etherington
Mr S Etherington
Auditor

In accordance with the company's articles, a resolution proposing that Xeinadin Audit Limited be reappointed as auditor of the company will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
Mr S Etherington
Director
11 May 2026
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 3 -

The directors are responsible for preparing the annual 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 of 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 judgements and accounting estimates that are reasonable and prudent; and

- 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.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DIRECT POULTRY SUPPLY (INSKIP) LIMITED
- 4 -
Opinion

We have audited the financial statements of Direct Poultry Supply (Inskip) Limited (the 'company') for the year ended 28 February 2026 which comprise the statement of income and retained earnings, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 28 February 2026 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the 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 contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

- the information given in the strategic report and the directors' r eport 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.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DIRECT POULTRY SUPPLY (INSKIP) LIMITED (CONTINUED)
- 5 -
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 identifie d material misstatements in the strategic report or the directors' r eport.

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' r esponsibilities s tatement, 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:

- Enquiry of management and those charged with governance around actual and potential litigation and claims;

- Reviewing minutes of meetings of those charged with governance;

- 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;

- Analytical reviews are performed on the financial statements at all stages of the audit by comparison to prior years and expectations to ensure the reasonableness of the figures therein;

- Detailed audit testing is undertaken in specific areas to ensure that income and expenditure is correctly recorded and is a genuine income or expense of the company;

- Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations.

The potential effect of these laws and regulations on the financial statements varies considerably.

Firstly, the Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related companies legislation), distributable profits legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF DIRECT POULTRY SUPPLY (INSKIP) LIMITED (CONTINUED)
- 6 -

Secondly, the Company is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the Company’s license to operate. We identified the following areas as those most likely to have such an effect: health and safety including Marine Safety, data protection laws, anti-bribery, money laundering, employment law and Food Hygiene compliance recognising the nature of the Company’s activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.

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.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://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.

Tim Preece FCCA (Senior Statutory Auditor)
For and on behalf of Xeinadin Audit Limited, Statutory Auditor
Chartered Accountants
Dalton House
9 Dalton Square
Lancaster
Lancashire
LA1 1WD
United Kingdom
21 May 2026
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 7 -
2026
2025
Notes
£
£
Turnover
3
29,754,430
26,755,454
Cost of sales
(26,095,938)
(23,346,593)
Gross profit
3,658,492
3,408,861
Administrative expenses
(2,784,821)
(2,665,100)
Other operating income
600
600
Operating profit
4
874,271
744,361
Interest receivable and similar income
8
25,433
30,980
Interest payable and similar expenses
9
(63,960)
(64,814)
Profit before taxation
835,744
710,527
Tax on profit
10
(204,518)
(181,737)
Profit for the financial year
631,226
528,790
Retained earnings brought forward
1,929,200
1,898,029
Dividends
11
(529,422)
(497,619)
Retained earnings carried forward
2,031,004
1,929,200

The profit and loss account has been prepared on the basis that all operations are continuing operations.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2026
28 February 2026
- 8 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
12
467,224
588,241
Current assets
Stocks
13
333,824
253,185
Debtors
14
2,232,711
2,551,075
Cash at bank and in hand
878,969
998,174
3,445,504
3,802,434
Creditors: amounts falling due within one year
15
(1,760,809)
(2,338,601)
Net current assets
1,684,695
1,463,833
Total assets less current liabilities
2,151,919
2,052,074
Provisions for liabilities
Deferred tax liability
16
116,805
118,764
(116,805)
(118,764)
Net assets
2,035,114
1,933,310
Capital and reserves
Called up share capital
18
4,110
4,110
Profit and loss reserves
19
2,031,004
1,929,200
Total equity
2,035,114
1,933,310

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 11 May 2026 and are signed on its behalf by:
Mr M B Etherington
Director
Company registration number 01053707 (England and Wales)
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 9 -
2026
2025
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
23
740,414
990,386
Interest paid
(63,960)
(64,814)
Income taxes paid
(179,769)
(178,613)
Net cash inflow from operating activities
496,685
746,959
Investing activities
Purchase of tangible fixed assets
(142,100)
(140,966)
Proceeds from disposal of tangible fixed assets
4,750
6,500
Interest received
25,433
30,980
Net cash used in investing activities
(111,917)
(103,486)
Financing activities
Dividends paid
(503,973)
(497,619)
Net cash used in financing activities
(503,973)
(497,619)
Net (decrease)/increase in cash and cash equivalents
(119,205)
145,854
Cash and cash equivalents at beginning of year
998,174
852,320
Cash and cash equivalents at end of year
878,969
998,174

The notes on pages 10 to 21 form part of these financial statements.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 10 -
1
Accounting policies
Company information

Direct Poultry Supply (Inskip) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Preston Road, Inskip, Preston, PR4 0TT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

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

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% Straight line, excluding land
Plant and equipment
15% Reducing balance
Fixtures and fittings
15% Reducing balance
Computers
20% Straight line
Motor vehicles
25% Reducing balance
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 11 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

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

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 12 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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

Basic financial assets, which include debtors 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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 13 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
1
Accounting policies
(Continued)
- 14 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
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.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 15 -
3
Turnover and other revenue

The turnover and profit before taxation are attributable to one principal activity of the company, all arising in the United Kingdom.

2026
2025
£
£
Other revenue
Interest income
25,433
30,980
Rent receivable
600
600
4
Operating profit
2026
2025
Operating profit for the year is stated after charging:
£
£
Depreciation of tangible fixed assets
120,515
129,693
Loss on disposal of tangible fixed assets
2,852
5,254
Operating lease charges
12,875
30,900
5
Auditor's remuneration
2026
2025
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
5,755
5,425
For other services
All other non-audit services
20,177
16,978
6
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Production
87
92
Sales and management
16
18
Total
103
110
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
6
Employees
(Continued)
- 16 -

Their aggregate remuneration comprised:

2026
2025
£
£
Wages and salaries
2,889,961
2,943,337
Social security costs
321,730
253,126
Pension costs
265,625
219,901
3,477,316
3,416,364
7
Directors' remuneration
2026
2025
£
£
Remuneration for qualifying services
24,656
25,043
Company pension contributions to defined contribution schemes
80,000
71,000
104,656
96,043

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2025 - 2).

8
Interest receivable and similar income
2026
2025
£
£
Interest income
Interest on bank deposits
25,321
30,980
Other interest income
112
-
0
Total income
25,433
30,980
2026
2025
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
25,321
30,980
9
Interest payable and similar expenses
2026
2025
£
£
Other finance costs:
Other interest
63,960
64,814
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 17 -
10
Taxation
2026
2025
£
£
Current tax
UK corporation tax on profits for the current period
206,477
179,769
Deferred tax
Origination and reversal of timing differences
(1,959)
1,968
Total tax charge
204,518
181,737

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2026
2025
£
£
Profit before taxation
835,744
710,527
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2025: 25.00%)
208,936
177,632
Tax effect of expenses that are not deductible in determining taxable profit
786
2,017
Depreciation on assets not qualifying for tax allowances
-
0
2,088
Assets transferred to parent company
(5,204)
-
0
Taxation charge for the year
204,518
181,737
11
Dividends
2026
2025
£
£
Interim paid
529,422
497,619

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 18 -
12
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 March 2025
768,827
1,460,048
84,026
105,883
890,033
3,308,817
Additions
-
0
56,100
-
0
-
0
86,000
142,100
Disposals
(768,827)
(42,866)
-
0
(39,480)
(69,150)
(920,323)
At 28 February 2026
-
0
1,473,282
84,026
66,403
906,883
2,530,594
Depreciation and impairment
At 1 March 2025
634,825
1,248,422
78,876
98,185
660,266
2,720,574
Depreciation charged in the year
-
0
39,872
778
2,581
77,284
120,515
Eliminated in respect of disposals
(634,825)
(40,912)
-
0
(39,480)
(62,502)
(777,719)
At 28 February 2026
-
0
1,247,382
79,654
61,286
675,048
2,063,370
Carrying amount
At 28 February 2026
-
0
225,900
4,372
5,117
231,835
467,224
At 28 February 2025
134,002
211,624
5,150
7,698
229,767
588,241
13
Stocks
2026
2025
£
£
Raw materials and consumables
233,454
158,727
Finished goods and goods for resale
100,370
94,458
333,824
253,185
14
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
1,887,694
1,716,362
Amounts owed by group undertakings
229,182
-
0
Other debtors
29,131
784,722
Prepayments and accrued income
86,704
49,991
2,232,711
2,551,075
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 19 -
15
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
1,360,470
1,234,941
Corporation tax
206,477
179,769
Other taxation and social security
89,083
79,797
Other creditors
29,434
769,470
Accruals and deferred income
75,345
74,624
1,760,809
2,338,601
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2026
2025
Balances:
£
£
Deferred tax
116,805
118,764
2026
Movements in the year:
£
Liability at 1 March 2025
118,764
Credit to profit or loss
(1,959)
Liability at 28 February 2026
116,805

The deferred tax liability set out above relates to accelerated capital allowances which are expected to reverse out over time.

17
Retirement benefit schemes
2026
2025
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
265,625
219,901

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 20 -
18
Share capital
2026
2025
2026
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary B shares of £1 each
803
803
803
803
Ordinary C shares of £1 each
626
626
626
626
Ordinary D shares of £1 each
626
626
626
626
Ordinary E shares of £1 each
1,233
1,233
1,233
1,233
Ordinary F shares of £1 each
812
812
812
812
Ordinary G shares of £1 each
10
10
10
10
4,110
4,110
4,110
4,110

Each share entitles the holder to vote, to dividends and to capital distribution arising from the winding up of the company.

A group reorganisation took place 12 September 2025. The share capital is 100 percent issued to Direct Poultry Holdings Limited.

19
Profit and loss reserves
2026
2025
£
£
At the beginning of the year
1,929,200
1,898,029
Adjusted balance
1,929,200
1,898,029
Profit for the year
631,226
528,790
Dividends declared and paid in the year
(529,422)
(497,619)
At the end of the year
2,031,004
1,929,200
20
Capital commitments

Amounts contracted for but not provided in the financial statements:

2026
2025
£
£
Acquisition of tangible fixed assets
268,000
-
DIRECT POULTRY SUPPLY (INSKIP) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
- 21 -
21
Related party transactions

During the year, two directors owned part of the property from which the company operates for which they each received a rent of £6,437 (2024 - £15,450 per annum). Under a share reorganisation, this property was transferred to Direct Poultry Holding Limited.

In 2025 the company provided an interest free loan, repayable on demand to Direct Property Services (Inskip) Limited, which was under common control with the company. The balance is £nil (2025 - £758,206).

During the year, the entity paid wages and salaries of £168,896 (2025 - £140,459) to key management personnel.

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 which wholly owned subsidiaries within the group.

22
Ultimate controlling party

Direct Poultry Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The registered office of Direct Poultry Holdings Limited is Preston Road, Inskip, Preston, Lancashire, PR4 0TT.

The parent produces publicly available financial statements. These are available upon request from Companies House, Crown Way, Cardiff, CF14 3UZ.

23
Cash generated from operations
2026
2025
£
£
Profit after taxation
631,226
528,790
Adjustments for:
Taxation charged
204,518
181,737
Finance costs
63,960
64,814
Investment income
(25,433)
(30,980)
Loss on disposal of tangible fixed assets
2,852
5,254
Depreciation and impairment of tangible fixed assets
120,515
129,693
Movements in working capital:
(Increase)/decrease in stocks
(80,641)
17,985
Increase in debtors
(433,879)
(173,044)
Increase in creditors
257,296
266,137
Cash generated from operations
740,414
990,386
24
Analysis of changes in net funds
1 March 2025
Cash flows
28 February 2026
£
£
£
Cash at bank and in hand
998,174
(119,205)
878,969
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