The Fresh Food Company (2007) Limited

	Page
Strategic Report	1
Director's Report	2—3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Statement of Cash Flows	12
Notes to the Financial Statements	13—22

The director presents his strategic report for the year ended 31 August 2025.

Review of the Business

The main performance measures used by the Company are sales, profits and cash generation.

Sales have increased on the prior year at £17,187,737 (2024 - £12,529,975) partly due to the addition of two other trading activities. Gross margin increased in absolute terms to £4,316,121 (2024 - £2,958,821) with the effective gross margin increasing to 25.1% (2024: 23.7%).

Selling & distribution costs have increased by £736,094 to £2,214,133 (2024 - £1,478,039), administrative expenses have also increased to £1,143,552 (2024 - £846,218). Pre-tax profits have increased to £929,978 (2024 - £627,976). The business continues to be self-funding and has maintained strong cash balances throughout the year with a cash balance of £660,047 at the year end (2024 - £443,779).

During the year, the Company acquired the entire shareholding of Turriff's (Montrose) Limited under a Share Purchase Agreement, and separately acquired the trade and assets of Les Turriff Limited under an Asset Purchase Agreement, including associated goodwill.

Principal Risks and Uncertainties

The Company's principal financial instruments comprise cash and cash equivalents.

The Company has various other financial assets and liabilities, including trade debtors and trade creditors that arise directly from its operations.

It is, and has been throughout the year under review, the Company's policy that no trading in other financial instruments of a speculative nature shall be undertaken.

The principal risks associated with the Company's financial assets and liabilities are set out below:

Interest rate risk

The Company is predominately self-funded and expects to continue to be so during the coming financial year. The Company's financial assets are therefore not significantly exposed to interest rate risk.

Price risk

There is no significant exposure to changes in the carrying value of financial instruments, assets and liabilities, except short term fluctuations in stock prices due to availability.

Credit risk

The majority of sales transactions to third parties are on credit terms and therefore the Company is exposed to external credit risk. This is managed internally through efficient credit control procedures both on a proactive and reactive basis.

Liquidity risk

The Company aims to mitigate liquidity risk by managing cash generated by its operations. The Company has operated a strongly positive cash-flow position over a number of years.

On behalf of the board

Paul Thompson

Director

3 June 2026

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The Fresh Food Company (2007) Limited

Company No. SC328914

Director's Report For The Year Ended 31 August 2025

Director's Report

The director presents his report and the financial statements for the year ended 31 August 2025.

Principal Activity

The company's principal activity continues to be that of the wholesale distribution of fruit and vegetables.

Future Developments

The Company added two individual operations in the year and whilst incurring significant structural costs is benefiting from the combined activities.

Dividends

The value of dividends paid amounted to £260,000 .

The director does not recommend a final dividend.

Directors

The director who held office during the year was as follows:

Paul Thompson

Post Balance Sheet Events

In October 2025, the shareholding of the Company changed, resulting in Mr Paul Thompson becoming the direct controlling shareholder and person with significany control.

This event is considered non-adjusting and does not impact the amounts recognised in the financial statements.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report 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 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 the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments 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 them 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.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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The Fresh Food Company (2007) Limited

Director's Report (continued)

For The Year Ended 31 August 2025

Independent Auditors

The auditors, Ballantyne & Co, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Paul Thompson

Director

3 June 2026

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Independent Auditor's Report

to the Members of

The Fresh Food Company (2007) Limited

Independent Auditor's Report

Qualified opinion

We have audited the financial statements of The Fresh Food Company (2007) Limited for the year ended 31 August 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion, except for the possible effects of the matter in the Basis for the Qualified Opinion section of our report, the financial statements

give a true and fair view of the state of the company's affairs as at 31 August 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable: and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Qualified Opinion

During the year, the company acquired Turriff's (Montrose) Limited as a wholly owned subsidiary. Under Section 9 of FRS 102, the company is required to prepare consolidated financial statements. The Company has not prepared consolidated financial statements and, accordingly, the accompanying financial statements do not include the assets, liabilities, income, expenses and cash flows of the subsidiary.

Due to limitations in the financial information available in respect of the subsidiary, we were unable to determine the financial effect of the absence of consolidated financial statements on the accompanying financial statements and whether any adjustments to the financial statements were necessary.

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 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 entity's ability to continue as a going concern for a period of at least 12 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 director is 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. 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.

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Independent Auditor's Report (continued)

to the Members of

The Fresh Food Company (2007) Limited

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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report 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 Director's Report.

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 or 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.

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 2—3, 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 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 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

The Fresh Food Company (2007) Limited

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.

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 as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and knowledge of the Company to identify or recognise non-compliance with applicable laws and regulations;

• we identified the laws and regulations applicable to the company through discussions with directors and other management and review of appropriate industry knowledge. Key laws and regulations we identified during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK health and safety legislation;

• we assessed the extent of compliance with the laws and regulations identified above by making enquiries of management; and

• identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

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 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 as a risk assessment tool to identify any unusual or unexpected relationships;

• tested journal entries recorded on the Company’s finance system to identify unusual transactions that may indicate override of controls;

• reviewed key judgements and estimates for any evidence of management bias; and

• reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.

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; and

• enquiring of management to identify actual and potential litigation and claims.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remains a higher risk of non detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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 that 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.

Dalvir Johal (Senior Statutory Auditor)

for and on behalf of Ballantyne & Co , Statutory Auditor

3 June 2026

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The Fresh Food Company (2007) Limited

Profit and Loss Account

For The Year Ended 31 August 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	17,187,737	12,529,975
Cost of sales		(12,871,616 )	(9,571,154 )

GROSS PROFIT		4,316,121	2,958,821

Distribution costs		(2,214,133 )	(1,478,039 )
Administrative expenses		(1,143,552 )	(846,219 )

OPERATING PROFIT	4	958,436	634,563
Interest payable and similar charges	9	(28,458 )	(6,588 )

PROFIT BEFORE TAXATION		929,978	627,975
Tax on Profit	10	(239,499 )	(157,282 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		690,479	470,693

The notes on pages 12 to 22 form part of these financial statements.

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The Fresh Food Company (2007) Limited

Statement of Comprehensive Income

For The Year Ended 31 August 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	690,479	470,693
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	690,479	470,693

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The Fresh Food Company (2007) Limited

Balance Sheet

As At 31 August 2025

Balance Sheet

Registered number: SC328914

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	11		231,294		-
Tangible Assets	12		570,091		314,485
Investments	13		500,000		-

			1,301,385		314,485
CURRENT ASSETS
Stocks	14	148,859		145,708
Debtors	15	2,790,260		1,954,374
Cash at bank and in hand		660,047		443,779

		3,599,166		2,543,861
Creditors: Amounts Falling Due Within One Year	16	(3,607,026 )		(2,186,912 )

NET CURRENT ASSETS (LIABILITIES)			(7,860 )		356,949

TOTAL ASSETS LESS CURRENT LIABILITIES			1,293,525		671,434

Creditors: Amounts Falling Due After More Than One Year	17		(127,083 )		-

PROVISIONS FOR LIABILITIES
Deferred Taxation	19		(132,685 )		(68,156 )

NET ASSETS			1,033,757		603,278

CAPITAL AND RESERVES
Called up share capital	21		100		100
Profit and Loss Account			1,033,657		603,178

SHAREHOLDERS' FUNDS			1,033,757		603,278

On behalf of the board

Paul Thompson

Director

2 June 2026

The notes on pages 12 to 22 form part of these financial statements.

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The Fresh Food Company (2007) Limited

Statement of Changes in Equity

For The Year Ended 31 August 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 September 2023	100	652,485	652,585
Profit for the year and total comprehensive income	-	470,693	470,693

Dividends paid	-	(520,000)	(520,000)

As at 31 August 2024 and 1 September 2024	100	603,178	603,278


Profit for the year and total comprehensive income	-	690,479	690,479

Dividends paid	-	(260,000)	(260,000)

As at 31 August 2025	100	1,033,657	1,033,757

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The Fresh Food Company (2007) Limited

Statement of Cash Flows

For The Year Ended 31 August 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	1,987,971	978,456
Interest paid		(28,458 )	(6,588 )
Tax paid		(202,898 )	(19,707 )

Net cash generated from operating activities		1,756,615	952,161

Cash flows from investing activities
Purchase of intangible assets		(256,993 )	-
Purchase of tangible assets		(565,377 )	(205,231 )
Proceeds from disposal of tangible assets		9,360	-
Purchase of other fixed asset investments		(500,000 )	-

Net cash used in investing activities		(1,313,010 )	(205,231 )

Cash flows from financing activities
Equity dividends paid		(260,000 )	(520,000 )
Repayment of bank borrowings		(140,625 )	(187,500 )
Repayment of finance leases		169,408	-
Amount introduced by directors		3,880	-

Net cash used in financing activities		(227,337 )	(707,500 )



Increase in cash and cash equivalents		216,268	39,430
Cash and cash equivalents at beginning of year	2	443,779	404,349

Cash and cash equivalents at end of year	2	660,047	443,779

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The Fresh Food Company (2007) Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 August 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	690,479	470,693
Adjustments for:
Tax on profit	239,499	157,282
Interest expense	28,458	6,588
Amortisation of intangible assets	25,699	-
Depreciation of tangible assets	302,886	205,737
Profit on disposal of tangible assets	(2,475)	-
Movements in working capital:
(Increase)/decrease in stocks	(3,151 )	6,862
Increase in trade and other debtors	(835,886 )	(19,278 )
Increase in trade and other creditors	1,542,462	150,572

Net cash generated from operations	1,987,971	978,456

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	660,047	443,779

3. Analysis of changes in net funds

	As at 1 September 2024	Cash flows	As at 31 August 2025
	£	£	£
Cash at bank and in hand	443,779	216,268	660,047
Finance leases	-	(169,408)	(169,408)
Debts falling due within one year	(140,625 )	140,625	-

	303,154	187,485	490,639

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements

For The Year Ended 31 August 2025

Notes to the Financial Statements

1. General Information

The Fresh Food Company (2007) Limited is a private company, limited by shares, incorporated in Scotland, registered number SC328914 . The registered office is 5 Drum Mains Park, Cumbernauld, Glasgow, G68 9LD.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and 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 are prepared in sterling, which is the functional currency of the Company. Monetary amounts in the financial statements are rounded to the nearest £1.

The preparation of the financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2. Significant judgements and estimations

The preparation of financial statements in accordance with FRS 102 requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates. The key source of estimation uncertainty that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities are:

Goodwill amortisation - estimation of the useful economic life of goodwill.

Impairment of trade debtors - assessment of recoverability based on customer credit risk and historical experience.

Stock valuation - estimation of net realisable value, including provisions for slow-moving or obsolete stock.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% straight line
Motor Vehicles	25% straight line
Fixtures & Fittings	25% straight line

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.6. Investments

Investments in subsidiary undertakings are initially recognised at cost. Cost includes the purchase price and directly attributable acquisition costs.

Investments are subsequently measued at cost less any accumulated impairment losses.

At each reporting date, the Company assesses whether there is any indication that an investment may be impaired. If such indicators exist, the recoverable amount is estimated and an impairment loss is recognised where the carrying amount exceeds the recoverable amount.

During the year the company acquired the whole shareholding of Turriff's (Montrose) Limited, which has been recognised as an investment in subsidiary undertakings in accordance with this policy.

Turriff's (Montrose) Limited registered office is 1 Ferry Road, Montrose, DD10 8DY and wholesales fruit and vegetables.

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.9. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.10. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

...CONTINUED

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.10. Taxation - continued

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.11. Provisions and Contingencies

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

2.12. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.13. Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the

balance sheet date and carried forward to future periods.

This is measured at the undiscounted

salary cost of the future holiday entitlement so accrued at the balance sheet date.

2.14. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are

recognised when paid.

Final equity dividends are recognised when approved by the shareholders at

an annual general meeting.

2.15. Impairment of assets (including goodwill)

At each reporting date, the Company reviews the carrying amounts of its assets, including goodwill, 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 to determine the extent of the impairment loss. The recoverable amount is the higher of an assets's fair value less costs to sell and its value in use.

Any impairment loss is recognised immediately in profit or loss to the extent that the carrying amount of the asset exceeds its recoverable amount.

For goodwill, impairment indicators may include declines in financial performance, changes in market conditions, or other factors affecting the value of the acquired business.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but only to the extent that it does not exceed the carrying amount that would have been determined had no impairment loss been recognised in prior periods.

...CONTINUED

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

2.15. Impairment of assets (including goodwill) - continued

Impairment losses relating to goodwill are not reversed.

2.16 Business Combinations

Business combinations are accounted for using the acquistion method.The cost of the acquisition is measured as the fair value of the consideration transferred.

At the acquisition date, the identifiable assets acquired and liabilities assumed are recognised at their fair values.

Goodwill represents the excess of the cost of the acquisition over the fair value of the net identifiable assets acquired. Goodwill is recognised as an intangible asset and amortised in accordance with the Company's accounting policy.

Transaction costs associated with the acquisition are expensed as incurred.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Wholesale	17,187,737	12,529,975

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	17,187,737	12,529,975

	17,187,737	12,529,975

4. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	25,480	(16,305)
Depreciation of tangible fixed assets	302,886	205,737
Amortisation of intangible fixed assets	25,699	-
Profit on disposal of tangible fixed assets	(2,475 )	-

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	24,550	15,500

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	2,991,527	2,403,980
Social security costs	317,264	221,413
Other pension costs	51,881	31,479

	3,360,672	2,656,872

7. Average Number of Employees

Average number of employees, including directors, during the year was: 114 (2024: 83)

8. Director's remuneration

	2025	2024
	£	£
Emoluments	23,131	19,970

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	24,270	6,588
Finance charges payable under finance leases and hire purchase contracts	4,188	-

	28,458	6,588

10. Tax on Profit

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

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	174,970	156,740
Deferred Tax
Deferred taxation			64,529	542


Total tax charge for the period			239,499	157,282

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

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

	2025	2024
	£	£
Profit before tax	929,978	627,975

Tax on profit at 25% (UK standard rate)	232,494	156,994
Goodwill/depreciation not allowed for tax	6,425	-
Expenses not deductible for tax purposes	580	288

Total tax charge for the period	239,499	157,282

11. Intangible Assets

	Goodwill
	£
Cost
As at 1 September 2024	61,899
Additions	256,993

As at 31 August 2025	318,892

Amortisation
As at 1 September 2024	61,899
Provided during the period	25,699

As at 31 August 2025	87,598

Net Book Value
As at 31 August 2025	231,294

As at 1 September 2024	-

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

12. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 September 2024	799,337	931,310	15,205	1,745,852
Additions	277,602	287,775	-	565,377
Disposals	-	(57,125 )	-	(57,125 )

As at 31 August 2025	1,076,939	1,161,960	15,205	2,254,104

Depreciation
As at 1 September 2024	699,784	716,378	15,205	1,431,367
Provided during the period	118,169	184,717	-	302,886
Disposals	-	(50,240 )	-	(50,240 )

As at 31 August 2025	817,953	850,855	15,205	1,684,013

Net Book Value
As at 31 August 2025	258,986	311,105	-	570,091

As at 1 September 2024	99,553	214,932	-	314,485

13. Investments

	Unlisted
	£
Cost or Valuation
As at 1 September 2024	-
Additions	500,000

As at 31 August 2025	500,000

Provision
As at 1 September 2024	-

As at 31 August 2025	-

Net Book Value
As at 31 August 2025	500,000

As at 1 September 2024	-

During the year The Fresh Food Company (2007) Ltd bought the entire share holding of Turriff's (Montrose) Limited.

The Company was acquired on 15 November 2024 with an initial Completion Payment of £380,000 and a further Deferred Consideration of £120,000, payable over 12 months from the date of acquisition.

14. Stocks

	2025	2024
	£	£
Finished goods	148,859	145,708

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

15. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,599,700	1,784,718
Other debtors	190,560	169,656

	2,790,260	1,954,374

16. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	42,325	-
Trade creditors	2,183,931	1,436,796
Bank loans and overdrafts	-	140,625
Amounts owed to participating interests	630,494	65,769
Other creditors	122,492	25,711
Corporation tax	314,085	342,013
Taxation and social security	84,631	50,461
Accruals and deferred income	229,068	125,537

	3,607,026	2,186,912

17. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	127,083	-

18. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	42,325	-
Later than one year and not later than five years	127,083	-

	169,408	-

	169,408	-

19. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	132,685	68,156

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

20. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 September 2024	68,156	68,156
Additions	64,529	64,529

Balance at 31 August 2025	132,685	132,685

Deferred tax arises primarily from timing differences between the accounting treatment of depreciation and the corresponding capital allowances.

21. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
100 Ordinary Shares of £ 1.00 each	100	100

22. Pension Commitments

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

During the year the charge to profit or loss in respect of defined contribution schemes was £51,881 (2024: £31,479).

At the balance sheet date contributions of £21,645 (2024: £13,604) were due to the fund and are included in creditors.

23. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	260,000	520,000

24. Post Balance Sheet Events

In October 2025, the shareholding of the Company changed, resulting in Mr Paul Thompson becoming the direct controlling shareholder and person with significant control.

This event is considered non-adjusting and does not impact the amounts recognised in the financial statements.

25. Related Party Disclosures

During the year there were related party transactions of £539,172 (2024: £510,739) made by the Company to its Parent Company. Dividends paid during the year were £260,000 (2024: £520,000) to its Parent Company. As at 31 August 2025 there was a balance owed to the Parent Company of £604,941 (2024: £65,769).

As at 31 August 2025 there was a balance owed to the subsidiary Tirriff's (Montrose) Limited by the parent company of £25,553.

During the year rent was paid, per rental agreement, by the Company of £28,181 (2024: £80,000) to Fresh Fruit Company Limited, its Parent Company.

Transactions with directors

During the year transactions with the Director totalled £(3,880) (2024: £nil) with a balance owed to the Director at 31 August 2025 of £(3,880) (2024: £nil).

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The Fresh Food Company (2007) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 August 2025

26. Controlling Parties

At 31 August 2025, the Company was a wholly owned subsidiary of Fresh Fruit Company Limited.

The company's ultimate controlling party is Mr P Thompson by virtue of their interest in the share capital of the company.

Subsequent to the year end, in October 2025, the shareholding of the Company changed and Mr Paul Thompson became the direct controlling shareholder and person with significant control.

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