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REGISTERED NUMBER: 08147391 (England and Wales)

Healan Ingredients Limited

Strategic Report, Report of the Director and

Financial Statements for the Year Ended 30 September 2025

Healan Ingredients Limited (Registered number: 08147391)

Contents of the Financial Statements

for the year ended 30 September 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Director | 3 |

Report of the Independent Auditors | 4 |

Statement of Comprehensive Income | 7 |

Balance Sheet | 8 |

Statement of Changes in Equity | 9 |

Cash Flow Statement | 10 |

Notes to the Cash Flow Statement | 11 |

Notes to the Financial Statements | 12 |

Healan Ingredients Limited

Company Information

for the year ended 30 September 2025

| DIRECTOR: | M Lapi

| REGISTERED OFFICE: | Sands Top

| North Newbald

| York

| YO43 4SW

| REGISTERED NUMBER: | 08147391 (England and Wales)

| AUDITORS: | Smailes Goldie

| Chartered Accountants

| Statutory Auditor

| Regent's Court

| Princess Street

| Hull

| East Yorkshire

| HU2 8BA

Healan Ingredients Limited (Registered number: 08147391)

Strategic Report

for the year ended 30 September 2025

The director presents his strategic report for the year ended 30 September 2025.

PRINCIPAL ACTIVITY

The principal activities of the company in the year under review were that of the processing and sale of gelatine and vegetarian gelling agents.

REVIEW OF BUSINESS

During the year, the company delivered a satisfactory performance and generated a healthy profit, notwithstanding a reduction in sales revenue. Margins remained under pressure in a competitive trading environment, while operating costs continued to be elevated. Interest payable reduced during the year, reflecting lower interest rates and the ongoing repayment of borrowings.

We would like to place on record our appreciation of the company's dedicated workforce. Their commitment and professionalism throughout the year were instrumental in ensuring continued service to our customers, the retention of our Halal Accreditation and the maintenance of our AA grade rating for BRCGS.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks facing the company remain those associated with fluctuations in raw material prices and currency volatility. Although inflation is expected to stabilise, the cost increases already experienced are likely to remain, and operating costs are not expected to reduce materiality in the near term. The company's ability to recover such increases from its principal customers, many of whom operate in price-sensitive sectors and require long-term price certainty, remains uncertain, particularly in the context of a slowing economy. The company will continue to work closely with both customers and suppliers in managing these risks.

The key uncertainties identified are:

- |  | Unexpected fluctuations in demand and product availability. |

- |  | Potential price volatility. |

- |  | Disruption to the workforce and changes in working practices. |

- |  | Exchange rate volatility. |

The company believes that, through the measures adopted, including maintaining an international supplier base and holding substantial stock levels in its UK warehouse, it has put in place a robust framework to mitigate downside risk.

KEY PERFORMANCE INDICATORS

The director monitors performance through regular review of volumes, turnover, gross and net margins and cash headroom. With the exception of volumes, these measures are reflected in the financial statements.

FUTURE DEVELOPMENTS OUR COMMITMENT TO RESEARCH AND DEVELOPMENT

The company will continue its focus on ensuring the safety and quality of its products, while also seeking to expand its range and capacity through investment in new production lines over the coming year. It will further develop its systems to enhance product safety, quality, and traceability, and will continue to invest in order to maintain its AA grade accreditation under the BRC Global Standard for Food Safety. In order to achieve these objectives, the company will continue to rely on the support of its staff and remains committed to their ongoing development.

ON BEHALF OF THE BOARD:

M Lapi - Director

2 June 2026

Healan Ingredients Limited (Registered number: 08147391)

Report of the Director

for the year ended 30 September 2025

The director presents his report with the financial statements of the company for the year ended 30 September 2025.

DIVIDENDS

Interim dividends of £682,594 (2024 £449,950) were paid during the year. No final dividend will be distributed.

DIRECTOR

M Lapi held office during the whole of the period from 1 October 2024 to the date of this report.

DISCLOSURE IN THE STRATEGIC REPORT

In accordance with s414(C) (11) of the Companies Act, included in the Strategic Report is information relating to the events occurring in the period and future developments which would otherwise be required by Schedule 7 of the 'large and medium sized companies and groups (accounts and reports) regulation 2008' to be contained in a Director's Report. I also include information on the financial risk management policies within the Strategic Report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is 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 director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he 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 company's auditors are aware of that information.

AUDITORS

The auditors, Smailes Goldie, will be deemed to be re-appointed under s487 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

M Lapi - Director

2 June 2026

Report of the Independent Auditors to the Members of

Healan Ingredients Limited

Opinion

We have audited the financial statements of Healan Ingredients Limited (the 'company') for the year ended 30 September 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the 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 company's affairs as at 30 September 2025 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 Auditors' 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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, 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 Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

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

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, 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 director's remuneration specified by law are not made; or

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

Report of the Independent Auditors to the Members of

Healan Ingredients Limited

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or has 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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,

including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, the Food Safety Act 1990 and applicable food standards, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including

obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were

indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed

procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

Due to 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. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

Report of the Independent Auditors to the Members of

Healan Ingredients Limited

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.

Stephen Bramall BSc FCA (Senior Statutory Auditor)

for and on behalf of Smailes Goldie

Chartered Accountants

Statutory Auditor

Regent's Court

Princess Street

Hull

East Yorkshire

HU2 8BA

2 June 2026

Healan Ingredients Limited (Registered number: 08147391)

Statement of Comprehensive Income

for the year ended 30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 10,633,201 |  | 14,156,683 |  |

Cost of sales | 9,762,544 |  | 12,858,051 |  |

GROSS PROFIT | 870,657 |  | 1,298,632 |  |

Administrative expenses | 440,034 |  | 483,590 |  |

430,623 |  | 815,042 |  |

Other operating income | - |  | 20,000 |  |

OPERATING PROFIT | 5 | 430,623 |  | 835,042 |  |

Interest receivable and similar income | 6,047 |  | - |  |

436,670 |  | 835,042 |  |

Interest payable and similar expenses | 6 | 56,244 |  | 94,405 |  |

PROFIT BEFORE TAXATION | 380,426 |  | 740,637 |  |

Tax on profit | 7 | 104,299 |  | 185,174 |  |

PROFIT FOR THE FINANCIAL YEAR | 276,127 |  | 555,463 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 276,127 |  | 555,463 |  |

Healan Ingredients Limited (Registered number: 08147391)

Balance Sheet

30 September 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | - |  | - |  |

Tangible assets | 10 | 1,657,969 |  | 1,737,352 |  |

1,657,969 |  | 1,737,352 |  |

CURRENT ASSETS

Stocks | 11 | 3,882,789 |  | 3,076,119 |  |

Debtors | 12 | 2,283,075 |  | 2,181,756 |  |

Cash at bank | 452,865 |  | 1,108,379 |  |

6,618,729 |  | 6,366,254 |  |

CREDITORS

Amounts falling due within one year | 13 | 2,891,618 |  | 2,222,728 |  |

NET CURRENT ASSETS | 3,727,111 |  | 4,143,526 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,385,080 |  | 5,880,878 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (633,362 | ) | (716,735 | ) |

PROVISIONS FOR LIABILITIES | 18 | (134,882 | ) | (140,840 | ) |

NET ASSETS | 4,616,836 |  | 5,023,303 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 355,555 |  | 355,555 |  |

Retained earnings | 20 | 4,261,281 |  | 4,667,748 |  |

SHAREHOLDERS' FUNDS | 4,616,836 |  | 5,023,303 |  |

The financial statements were approved by the director and authorised for issue on 2 June 2026 and were signed by:

M Lapi - Director

Healan Ingredients Limited (Registered number: 08147391)

Statement of Changes in Equity

for the year ended 30 September 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 October 2023 | 355,555 |  | 4,562,235 |  | 4,917,790 |  |

Changes in equity

Dividends | - |  | (449,950 | ) | (449,950 | ) |

Total comprehensive income | - |  | 555,463 |  | 555,463 |  |

Balance at 30 September 2024 | 355,555 |  | 4,667,748 |  | 5,023,303 |  |

Changes in equity

Dividends | - |  | (682,594 | ) | (682,594 | ) |

Total comprehensive income | - |  | 276,127 |  | 276,127 |  |

Balance at 30 September 2025 | 355,555 |  | 4,261,281 |  | 4,616,836 |  |

Healan Ingredients Limited (Registered number: 08147391)

Cash Flow Statement

for the year ended 30 September 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 336,413 |  | 3,904,585 |  |

Interest paid | (56,244 | ) | (94,405 | ) |

Tax paid | (185,925 | ) | (297,324 | ) |

Net cash from operating activities | 94,244 |  | 3,512,856 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (29,127 | ) | (85,821 | ) |

Interest received | 6,047 |  | - |  |

Net cash from investing activities | (23,080 | ) | (85,821 | ) |

Cash flows from financing activities

Loan repayments in year | (33,579 | ) | (205,434 | ) |

Movement in other credit facilities | - |  | (1,797,103 | ) |

Capital repayments in year | (6,441 | ) | (5,861 | ) |

Net amount repaid/withdrawn by director | (4,064 | ) | 11,181 |  |

Equity dividends paid | (682,594 | ) | (449,950 | ) |

Net cash from financing activities | (726,678 | ) | (2,447,167 | ) |

(Decrease)/increase in cash and cash equivalents | (655,514 | ) | 979,868 |  |

Cash and cash equivalents at beginning of year | 2 | 1,108,379 |  | 128,511 |  |

Cash and cash equivalents at end of year | 2 | 452,865 |  | 1,108,379 |  |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Cash Flow Statement

for the year ended 30 September 2025

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

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 380,426 |  | 740,637 |  |

| Depreciation charges | 108,510 |  | 98,752 |  |

| Loss on disposal of fixed assets | - |  | 19 |  |

| Finance costs | 56,244 |  | 94,405 |  |

| Finance income | (6,047 | ) | - |  |

539,133 |  | 933,813 |  |

| (Increase)/decrease in stocks | (806,670 | ) | 2,616,911 |  |

| (Increase)/decrease in trade and other debtors | (101,319 | ) | 1,383,620 |  |

| Increase/(decrease) in trade and other creditors | 705,269 |  | (1,029,759 | ) |

| Cash generated from operations | 336,413 |  | 3,904,585 |  |

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 | 452,865 |  | 1,108,379 |  |

| Year ended 30 September 2024

| 30.9.24 |  | 1.10.23

£ | £ |

| Cash and cash equivalents | 1,108,379 |  | 128,511 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

| At 1.10.24 | Cash flow | At 30.9.25

£ | £ | £ |

| Net cash |

| Cash at bank | 1,108,379 |  | (655,514 | ) | 452,865 |  |

1,108,379 |  | (655,514 | ) | 452,865 |  |

| Debt

| Finance leases | (47,199 | ) | 6,441 |  | (40,758 | ) |

| Debts falling due within 1 year | (29,636 | ) | (9,036 | ) | (38,672 | ) |

| Debts falling due after 1 year | (675,977 | ) | 42,615 |  | (633,362 | ) |

(752,812 | ) | 40,020 |  | (712,792 | ) |

| Total | 355,567 |  | (615,494 | ) | (259,927 | ) |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements

for the year ended 30 September 2025

1. | STATUTORY INFORMATION

| Healan Ingredients 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The director, having considered the available information, has a reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the date of approval of these financial statements and therefore has prepared the financial statements on a going concern basis.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

| Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been amortised evenly over its estimated useful life of five years.

| 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.

| Tangible fixed assets

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

| Freehold property - 2% on cost

| Plant and machinery - 10% - 20% straight line

| Fixtures and fittings - 10% - 20% straight line

| Motor vehicles - 33% on cost

| Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements - continued

for the year ended 30 September 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| 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.

| Employee 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.

| Debtors and creditors receivable/payable within one year

| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

| Loans and borrowings

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 688,164 |  | 762,406 |  |

| Social security costs | 71,783 |  | 66,957 |  |

| Other pension costs | 54,560 |  | 54,467 |  |

814,507 |  | 883,830 |  |

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

| 2025 |  | 2024

| Production | 12 |  | 13 |  |

| Quality control | 5 |  | 6 |  |

| Sales and logistics | 6 |  | 5 |  |

| Management and administration | 5 |  | 6 |  |

28 |  | 30 |  |

4. | DIRECTORS' EMOLUMENTS

| 2025 |  | 2024

£ | £ |

| Director's remuneration | - |  | 7,580 |  |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements - continued

for the year ended 30 September 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 108,510 |  | 98,752 |  |

| Loss on disposal of fixed assets | - |  | 19 |  |

| Auditors' remuneration - for audit services | 10,850 |  | 10,075 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank interest | 4,198 |  | 4,800 |  |

| Bank loan interest | - |  | 665 |  |

| Mortgage interest | 51,476 |  | 59,158 |  |

| Loan interest | - |  | 1,534 |  |

| Other interest | 570 |  | 28,248 |  |

56,244 |  | 94,405 |  |

7. | 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 | 110,258 |  | 185,926 |  |

| Prior year over provision | - |  | (163 | ) |

| Total current tax | 110,258 |  | 185,763 |  |

| Deferred tax:

| Deferred tax:

| Origination and reversal of

| timing differences | (10,871 | ) | (589 | ) |

| Prior year under provision | 4,912 |  | - |  |

| Total deferred tax | (5,959 | ) | (589 | ) |

| Tax on profit | 104,299 |  | 185,174 |  |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements - continued

for the year ended 30 September 2025

7. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 380,426 |  | 740,637 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 95,107 |  | 185,159 |  |

| Effects of:

| Expenses not deductible for tax purposes | 696 |  | 1,431 |  |

| Income not taxable for tax purposes | - |  | (5,000 | ) |

| Depreciation on non qualifying assets | 3,585 |  | 3,747 |  |

| Prior year under/(over) provision | 4,911 |  | (163 | ) |

| Total tax charge | 104,299 |  | 185,174 |  |

| UK corporation tax has been charged at 25% (2024 25%).

| The expected net reversal of deferred tax liabilities in the next financial year is £3,232. This is due to the reversal of accelerated capital allowances.

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary A shares of £1 each

| Interim | 605,052 |  | 398,103 |  |

| Ordinary B shares of £1 each

| Interim | 77,542 |  | 51,847 |  |

682,594 |  | 449,950 |  |

9. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 October 2024

| and 30 September 2025 | 325,870 |  |

| AMORTISATION

| At 1 October 2024

| and 30 September 2025 | 325,870 |  |

| NET BOOK VALUE

| At 30 September 2025 | - |  |

| At 30 September 2024 | - |  |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements - continued

for the year ended 30 September 2025

10. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | Plant and |  | and |  | Motor |

| property |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 October 2024 | 1,473,588 |  | 839,988 |  | 84,053 |  | 61,490 |  | 2,459,119 |  |

| Additions | - |  | 16,320 |  | 12,807 |  | - |  | 29,127 |  |

| At 30 September 2025 | 1,473,588 |  | 856,308 |  | 96,860 |  | 61,490 |  | 2,488,246 |  |

| DEPRECIATION

| At 1 October 2024 | 139,315 |  | 500,953 |  | 69,361 |  | 12,138 |  | 721,767 |  |

| Charge for year | 24,072 |  | 69,662 |  | 6,208 |  | 8,568 |  | 108,510 |  |

| At 30 September 2025 | 163,387 |  | 570,615 |  | 75,569 |  | 20,706 |  | 830,277 |  |

| NET BOOK VALUE

| At 30 September 2025 | 1,310,201 |  | 285,693 |  | 21,291 |  | 40,784 |  | 1,657,969 |  |

| At 30 September 2024 | 1,334,273 |  | 339,035 |  | 14,692 |  | 49,352 |  | 1,737,352 |  |

| Included in cost of land and buildings is freehold land of £ 270,000 (2024 - £ 270,000 ) which is not depreciated.

11. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 3,882,789 |  | 3,076,119 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 2,234,523 |  | 2,111,516 |  |

| Other debtors | - |  | 20,000 |  |

| Prepayments | 48,552 |  | 50,240 |  |

2,283,075 |  | 2,181,756 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 15) | 38,672 |  | 29,636 |  |

| Hire purchase contracts (see note 16) | 40,758 |  | 6,441 |  |

| Trade creditors | 2,418,796 |  | 1,743,738 |  |

| Corporation tax | 110,258 |  | 185,926 |  |

| Social security and other taxes | 77,171 |  | 59,112 |  |

| Other creditors | 8,556 |  | 8,884 |  |

| Directors' current accounts | 2,273 |  | 6,337 |  |

| Accrued expenses | 195,134 |  | 182,654 |  |

2,891,618 |  | 2,222,728 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans (see note 15) | 633,362 |  | 675,977 |  |

| Hire purchase contracts (see note 16) | - |  | 40,758 |  |

633,362 |  | 716,735 |  |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements - continued

for the year ended 30 September 2025

15. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 38,672 |  | 29,636 |  |

| Amounts falling due between one and two years:

| Bank loans | 41,379 |  | 32,007 |  |

| Amounts falling due between two and five years:

| Bank loans | 142,340 |  | 112,219 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans | 449,643 |  | 531,751 |  |

16. | LEASING AGREEMENTS

| Minimum lease payments under hire purchase fall due as follows:

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | 40,758 |  | 6,441 |  |

| Between one and five years | - |  | 40,758 |  |

40,758 |  | 47,199 |  |

17. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 672,034 |  | 705,613 |  |

| Hire purchase contracts | 40,758 |  | 47,199 |  |

712,792 |  | 752,812 |  |

| The bank loans and other creditors are secured via a fixed charge over the land and buildings, a floating charge over the remaining assets, and a debenture granted in favour of the bank.

| The director has also given a personal guarantee of £12,500.

18. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 135,156 |  | 142,075 |  |

| Other timing differences | (274 | ) | (1,235 | ) |

134,882 |  | 140,840 |  |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements - continued

for the year ended 30 September 2025

18. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 October 2024 | 140,840 |  |

| Credit to Statement of Comprehensive Income during year | (5,958 | ) |

| Balance at 30 September 2025 | 134,882 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid: |  |

| Number: |  | Class: |  | Nominal |  | 2025 |  | 2024 |  |

|  | value: |  | £ |  | £ |  |

| 320,000 |  | Ordinary A |  | £1 |  | 320,000 |  | 320,000 |  |

| 35,555 |  | Ordinary B |  | £1 |  | 35,555 |  | 35,555 |  |

|  | 355,555 |  | 355,555 |  |

| The Ordinary A and Ordinary B shares rank pari passu in all material respects save as for dividends. The directors may at any time resolve to declare a dividend on one or both of the respective classes of shares or to declare a dividend on each of them at different rates.

20. | RESERVES

| Retained

| earnings

£ |

| At 1 October 2024 | 4,667,748 |  |

| Profit for the year | 276,127 |  |

| Dividends | (682,594 | ) |

| At 30 September 2025 | 4,261,281 |  |

| The retained earnings reserve represents cumulative profits and losses net of dividends and other adjustments.

21. | PENSION COMMITMENTS

| The company operates a money purchase pension scheme for its employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost charge represents contributions of £54,560 (2024 £54,467) payable to the pension scheme during the year. The amounts payable at the year end were £3,045 (2024 £8,843).

22. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the years ended 30 September 2025 and 30 September 2024:

2025 | 2024 |

£ | £ |

| M Lapi

| Balance outstanding at start of year | - |  | 4,844 |  |

| Amounts advanced | - |  | 11,080 |  |

| Amounts repaid | - |  | (15,924 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | - |  | - |  |

Healan Ingredients Limited (Registered number: 08147391)

Notes to the Financial Statements - continued

for the year ended 30 September 2025

23. | RELATED PARTY DISCLOSURES

| During the year, total dividends of £276,691 (2024 £238,862) were paid to the director and his close family members.

| During the year, sales of £115,166 and purchases of £24,973 were transacted with a company owned by a close relative of the director. At the year end, the related party owed the company £Nil (2024 £52,361).

| During the year total dividends of £328,361 (2024 £159,241) were paid to a shareholder holding significant influence.