REGISTERED NUMBER: 00632439 (England and Wales)

Orkla Foods UK PLC

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

9

Statement of Financial Position

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Mr D Woollin

Ms S E Stokke

SECRETARY:

Mr J T Omarstrand

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

00632439 (England and Wales)

AUDITORS:

SMH Jolliffe Cork Audit Ltd

Accountants & Statutory Auditors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

BANKERS:

Handelsbanken

First Floor

2 Red Hall Court

Wakefield

WF1 2UN

The directors present their strategic report for the year ended 31 December 2025.

STRATEGIC REVIEW

The Directors of Orkla Foods UK PLC present their Strategic Review and financial statements for the year ended 31 December 2025.

During the year, the Company achieved a 6.6% increase in net sales value compared with 2024, supported by a 7% increase in sales volumes. This performance reflects continued development with both new and existing UK customers and demonstrates sustained underlying demand across the portfolio.

Gross profit margins were impacted by changes in product mix and lower raw material market pricing. Despite these pressures, the Company delivered a gross profit margin of 15.0%, which was anticipated and aligned with the Directors’ ongoing strategy to eliminate low-margin products and strengthen supply chain management.

As the UK Food Ingredients market has become more stable in terms of raw material pricing and availability, the Company has continued to maintain strong, positive relationships with its key customers while also developing new relationships with strategically identified prospective customers.

The Company reported a profit after taxation of £495,290 for the financial year (2024:£133,511), reflecting improved trading performance and margin recovery compared to the prior year

KEY PERFORMANCE INDICATORS

The Directors monitor the performance of the company in several ways. In conjunction with the management of costs the company uses several KPI’s to monitor its performance as below:

2025

2024

Total turnover

£9.84m

£9.22m

Gross margin

15.0%

10.56%

UK stock levels

£3.91m

£3.67m

The increase in stock levels during the year reflects planned purchasing strategies and the ongoing management of supply chain resilience.

PRINCIPAL RISKS AND UNCERTAINTIES

The Company’s activities expose it to a number of financial and operational risks, including foreign currency exposure, credit risk, competitive pressures, and raw material volatility. The UK Directors and senior management meet regularly to identify, assess, and manage these risks.

Foreign currency risk

The Company is exposed to movements in foreign exchange rates arising from its trading activities. This risk is monitored and managed locally.

UK inflation

UK inflation stood at 3.4% in December 2025, an increase compared with 2024, driven in part by food inflation. Elevated inflation continues to place pressure on suppliers, customers, and consumers.

Liquidity risk

The Company operates with net cash reserves and has access to funding support from its ultimate parent undertaking, Orkla Foods Norge, which mitigates liquidity risk.

Geopolitical risk

The ongoing conflicts in Ukraine and the Middle East have continued to impact global energy prices, production costs, and raw material availability, placing pressure on supply chains and cost structures.

Interest rate risk

The Company has access to an overdraft facility. The Directors continue to monitor the funding structure to limit the impact of potential interest rate fluctuations on the business.

Competitive risk

The Company differentiates itself through innovation, a refreshed visual identity, and a strong focus on customer service and technical support.

Raw material volatility

Volatility in commodity ingredients, particularly yeast extracts, is managed through forward purchasing and contractual pricing arrangements. Supplier pricing continues to be reviewed biannually in response to ongoing volatility in raw material and energy costs.

Future Developments

The Directors’ strategy remains focused on delivering growth through both existing and new customer development, while increasing investment in marketing, product development, and operational efficiency.

While the Company has established a strong foundation to support future growth, it anticipates that trading conditions will remain challenging in the coming years due to ongoing global volatility and geopolitical uncertainty. Despite increasingly difficult conditions within the plant-based sector, customer development during 2025 has been positive.

Orkla Foods UK PLC remains committed to investing in technologies and innovation to ensure it continues to meet the evolving needs of its customers and to strengthen its position as a leading food ingredient and flavour solutions supplier to the food manufacturing industry.

Overall Position

In the opinion of the Directors, the state of the Company’s affairs as of 31 December 2025 was satisfactory.

ON BEHALF OF THE BOARD:

Mr D Woollin - Director

15 June 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the Company is the sales and marketing of flavourings and food ingredients to the UK market. The Company also acts as the exclusive UK distributor for Yeast Extracts produced by Biorigin, Brazil. An autonomous company within the Orkla Group, Orkla Foods UK PLC is responsible for the sales, marketing and development of products for Orkla Savoury Taste, part of Orkla Foods Norge AS, Industrial & Export Division under the direction of Ms Solveig Stokke.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1 January 2025 to the date of this report.

The directors shown below were in office at 31 December 2025 but did not hold any interest in the Ordinary shares of £1 each at 1 January 2025 or 31 December 2025.

Mr D Woollin

Ms S E Stokke

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

AUDITORS

The auditors, SMH Jolliffe Cork Audit Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr D Woollin - Director

15 June 2026

Opinion

We have audited the financial statements of Orkla Foods UK PLC (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and 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 31 December 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 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the 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 Directors.

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

-	adequate accounting records have not been kept, 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 Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the 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.

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:

-

making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud 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;

-

enquiring of management as to actual and potential litigation and claims and reviewing correspondence with HMRC and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware 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.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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

Use of our report

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

Jane Crossley FCA CTA (Senior Statutory Auditor)

for and on behalf of SMH Jolliffe Cork Audit Ltd

Accountants & Statutory Auditors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

24 June 2026

TURNOVER

3

9,835,750

9,219,264

Cost of sales

8,359,817

8,245,473

GROSS PROFIT

1,475,933

973,791

Administrative expenses

672,578

607,880

OPERATING PROFIT

5

803,355

365,911

Interest receivable and similar income

87,652

45,276

891,007

411,187

Interest payable and similar expenses

6

228,978

233,484

PROFIT BEFORE TAXATION

662,029

177,703

Tax on profit

7

166,739

44,192

PROFIT FOR THE FINANCIAL YEAR

495,290

133,511

FIXED ASSETS

Tangible assets

9

4,196

5,561

CURRENT ASSETS

Stocks

10

3,914,468

3,674,748

Debtors

11

1,774,559

2,327,332

Cash at bank and in hand

1,813,625

1,290,692

7,502,652

7,292,772

CREDITORS

Amounts falling due within one year

12

4,302,336

4,588,770

NET CURRENT ASSETS

3,200,316

2,704,002

TOTAL ASSETS LESS CURRENT LIABILITIES

3,204,512

2,709,563

PROVISIONS FOR LIABILITIES

14

1,049

1,390

NET ASSETS

3,203,463

2,708,173

CAPITAL AND RESERVES

Called up share capital

15

200,000

200,000

Retained earnings

16

3,003,463

2,508,173

SHAREHOLDERS' FUNDS

3,203,463

2,708,173

The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2026 and were signed on its behalf by:

Mr D Woollin - Director

Ms S E Stokke - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

200,000

2,909,662

3,109,662

Changes in equity

Dividends

-

(535,000

)

(535,000

)

Total comprehensive income

-

133,511

133,511

Balance at 31 December 2024

200,000

2,508,173

2,708,173

Changes in equity

Total comprehensive income

-

495,290

495,290

Balance at 31 December 2025

200,000

3,003,463

3,203,463

1.	STATUTORY INFORMATION

Orkla Foods UK PLC is a private company , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's business address is Ground Floor, 15 Mariner Court, Durkar, Wakefield, WF4 3FL.

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 company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition, seldom equal the related actual results.

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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not have any key assumptions concerning the future, or other key sources of estimation uncertainty in the reporting period that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover represents the amounts derived from ordinary activities, and stated after trade discounts, other sales taxes and net of vat.

Tangible fixed assets

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

Leasehold improvements

-

Over the term of the lease

Office equipment

-

33% on cost and 25% on cost

Fixed assets are initially recorded at cost.

Stocks

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

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, 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.

The company has no 'Other financial assets'.

Financial assets are derecognised when (a) the contractual rights to the cashflows from the asset expire or are settled or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including bank overdrafts, trade and other creditors and loans from group companies, 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 receipts discounted at a market rate of interest.

The company has no 'Other financial liabilities'.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

The Company has applied the exception to the requirements of FRS 102 Section 29 under which a company does not recognise or disclose information about deferred tax assets and liabilities related to Pillar Two model rules.

Leases

Where the company does not retain the risks and rewards of ownership of the asset subject to the lease, the applicable rentals paid under these operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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. Refer to note 17 for further details.

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

3.

TURNOVER

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

An analysis of turnover by geographical market is given below:

31.12.25

31.12.24

£

£

United Kingdom

9,710,528

9,091,658

Europe

44,142

42,039

Rest of the World

81,080

85,567

9,835,750

9,219,264

4.	EMPLOYEES AND DIRECTORS

31.12.25

31.12.24

£

£

Wages and salaries

367,789

337,587

Social security costs

36,966

31,334

Other pension costs

42,589

31,521

447,344

400,442

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

31.12.25

31.12.24

Administration staff

3

3

Sales staff

3

3

6

6

31.12.25

31.12.24

£

£

Directors' remuneration

135,267

126,813

5.	OPERATING PROFIT

The operating profit is stated after charging:

31.12.25

31.12.24

£

£

Hire of plant and machinery

143

310

Depreciation - owned assets

3,471

9,275

Auditors' remuneration

10,000

8,195

Foreign exchange differences

568

66

Auditors' remuneration - tax services

4,010

1,925

Auditors' remuneration - other services

1,438

1,918

Rentals payable under operating leases

33,720

42,101

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

31.12.25

31.12.24

£

£

Bank interest

-

8,195

Interest on intercompany loan

228,978

225,289

228,978

233,484

7.

TAXATION

Analysis of the tax charge

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

31.12.25

31.12.24

£

£

Current tax:

UK corporation tax

167,080

45,027

Deferred tax

(341

)

(835

)

Tax on profit

166,739

44,192

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:

31.12.25

31.12.24

£

£

Profit before tax

662,029

177,703

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

165,507

44,426

Effects of:

Expenses not deductible for tax purposes

183

145

Depreciation in excess of capital allowances

-

666

Other timing difference

1,049

(1,045

)

Total tax charge

166,739

44,192

In July 2023, the UK enacted the Pillar Two income taxes legislation effective for accounting periods beginning on or after 31 December 2023. Other countries in the European Union (EU) and elsewhere have similarly adopted legislation. Under the UK legislation, a parent company would be required to pay, in the UK, a top-up tax on profits of its subsidiaries that have been taxed at an effective rate of less than 15%.

The Company has applied the exception issued by the IASB in May 2023 from the accounting requirements for deferred tax related to Pillar Two income taxes in FRS 102 Section 29. Accordingly, the Company neither recognises nor discloses information about deferred tax assets and liabilities related to Pillar Two income taxes.

8.

DIVIDENDS

31.12.25

31.12.24

£

£

Interim

-

535,000

9.	TANGIBLE FIXED ASSETS

Leasehold

Office

improvements

equipment

Totals

£

£

£

COST

At 1 January 2025

22,768

26,021

48,789

Additions

-

2,106

2,106

At 31 December 2025

22,768

28,127

50,895

DEPRECIATION

At 1 January 2025

22,768

20,460

43,228

Charge for year

-

3,471

3,471

At 31 December 2025

22,768

23,931

46,699

NET BOOK VALUE

At 31 December 2025

-

4,196

4,196

At 31 December 2024

-

5,561

5,561

10.

STOCKS

31.12.25

31.12.24

£

£

Stock

3,914,468

3,674,748

11.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

1,696,813

1,936,562

Tax

41,038

345,547

VAT

25,156

30,142

Prepayments and accrued income

11,552

15,081

1,774,559

2,327,332

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

58,029

72,204

Amounts owed to group undertakings

4,200,471

4,467,233

Social security and other taxes

7,246

7,509

Accruals and deferred income

36,590

41,824

4,302,336

4,588,770

The company is party to a Loan Facility/ Deposit Agreement via its ultimate parent company, Orkla ASA. At 31 December 2025, the balance owed under the terms of this agreement was £4,155,138 (2024: £3,926,160), which is included within amounts owed to group undertakings.

The interest charged during the year amounted to £228,978 (2024: £225,829).

13.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.25

31.12.24

£

£

Within one year

13,047

34,588

Between one and five years

1,334

14,380

14,381

48,968

14.	PROVISIONS FOR LIABILITIES

31.12.25

31.12.24

£

£

Deferred tax

1,049

1,390

Deferred tax

£

Balance at 1 January 2025

1,390

Provided during year

(341

)

Balance at 31 December 2025

1,049

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

200,000

Ordinary

£1

200,000

200,000

16.

RESERVES

Retained

earnings

£

At 1 January 2025

2,508,173

Profit for the year

495,290

At 31 December 2025

3,003,463

17.	PENSION COMMITMENTS

The company operates a personal pension plan in the names of the members. Members contribute to their personal pension plans at a minimum rate of 5% of earnings and the company contributes 3-13% of their salary.

The pension charge for the year was £42,589 (2024: £31,521).

Included in accruals at the year end, is an amount due to the pension scheme of £5,733 (2024: £2,626).