IRIS Accounts Production v26.1.10.61 01730815 Board of Directors 1.1.25 31.12.25 31.12.25 Medium entities manufacture and wholesale of bakery products. true false true true false false false true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 01730815 2024-12-31 01730815 2025-12-31 01730815 2025-01-01 2025-12-31 01730815 2023-12-31 01730815 2024-01-01 2024-12-31 01730815 2024-12-31 01730815 ns15:EnglandWales 2025-01-01 2025-12-31 01730815 ns14:PoundSterling 2025-01-01 2025-12-31 01730815 ns10:Director1 2025-01-01 2025-12-31 01730815 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 01730815 ns10:MediumEntities 2025-01-01 2025-12-31 01730815 ns10:Audited 2025-01-01 2025-12-31 01730815 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 01730815 ns10:Medium-sizedCompaniesRegimeForAccounts 2025-01-01 2025-12-31 01730815 ns10:FullAccounts 2025-01-01 2025-12-31 01730815 1 2025-01-01 2025-12-31 01730815 ns10:OrdinaryShareClass1 2025-01-01 2025-12-31 01730815 1 2025-01-01 2025-12-31 01730815 ns10:Director3 2025-01-01 2025-12-31 01730815 ns10:Director4 2025-01-01 2025-12-31 01730815 ns10:Director5 2025-01-01 2025-12-31 01730815 ns10:Director6 2025-01-01 2025-12-31 01730815 ns10:CompanySecretary1 2025-01-01 2025-12-31 01730815 ns10:RegisteredOffice 2025-01-01 2025-12-31 01730815 ns10:Director2 2025-01-01 2025-12-31 01730815 ns5:CurrentFinancialInstruments 2025-12-31 01730815 ns5:CurrentFinancialInstruments 2024-12-31 01730815 ns5:Non-currentFinancialInstruments 2025-12-31 01730815 ns5:Non-currentFinancialInstruments 2024-12-31 01730815 ns5:ShareCapital 2025-12-31 01730815 ns5:ShareCapital 2024-12-31 01730815 ns5:CapitalRedemptionReserve 2025-12-31 01730815 ns5:CapitalRedemptionReserve 2024-12-31 01730815 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 01730815 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 01730815 ns5:ShareCapital 2023-12-31 01730815 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 01730815 ns5:CapitalRedemptionReserve 2023-12-31 01730815 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01730815 ns5:CapitalRedemptionReserve 2024-01-01 2024-12-31 01730815 ns5:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 01730815 ns5:CapitalRedemptionReserve 2025-01-01 2025-12-31 01730815 ns5:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 01730815 ns5:ComputerSoftware 2025-01-01 2025-12-31 01730815 ns15:UnitedKingdom 2025-01-01 2025-12-31 01730815 ns15:UnitedKingdom 2024-01-01 2024-12-31 01730815 ns15:Europe 2025-01-01 2025-12-31 01730815 ns15:Europe 2024-01-01 2024-12-31 01730815 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2025-01-01 2025-12-31 01730815 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-01-01 2024-12-31 01730815 5 2025-01-01 2025-12-31 01730815 5 2024-01-01 2024-12-31 01730815 ns5:OwnedAssets 2025-01-01 2025-12-31 01730815 ns5:OwnedAssets 2024-01-01 2024-12-31 01730815 ns5:ComputerSoftware 2024-01-01 2024-12-31 01730815 1 2025-01-01 2025-12-31 01730815 1 2024-01-01 2024-12-31 01730815 2 2025-01-01 2025-12-31 01730815 2 2024-01-01 2024-12-31 01730815 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 01730815 ns5:ComputerSoftware 2024-12-31 01730815 ns5:ComputerSoftware 2025-12-31 01730815 ns5:ComputerSoftware 2024-12-31 01730815 ns5:LandBuildings 2024-12-31 01730815 ns5:LeaseholdImprovements 2024-12-31 01730815 ns5:PlantMachinery 2024-12-31 01730815 ns5:LandBuildings 2025-01-01 2025-12-31 01730815 ns5:LeaseholdImprovements 2025-01-01 2025-12-31 01730815 ns5:PlantMachinery 2025-01-01 2025-12-31 01730815 ns5:LandBuildings 2025-12-31 01730815 ns5:LeaseholdImprovements 2025-12-31 01730815 ns5:PlantMachinery 2025-12-31 01730815 ns5:LandBuildings 2024-12-31 01730815 ns5:LeaseholdImprovements 2024-12-31 01730815 ns5:PlantMachinery 2024-12-31 01730815 ns5:FurnitureFittings 2024-12-31 01730815 ns5:MotorVehicles 2024-12-31 01730815 ns5:FurnitureFittings 2025-01-01 2025-12-31 01730815 ns5:MotorVehicles 2025-01-01 2025-12-31 01730815 ns5:FurnitureFittings 2025-12-31 01730815 ns5:MotorVehicles 2025-12-31 01730815 ns5:FurnitureFittings 2024-12-31 01730815 ns5:MotorVehicles 2024-12-31 01730815 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 01730815 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 01730815 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2025-12-31 01730815 ns5:Non-currentFinancialInstruments ns5:BetweenOneTwoYears 2024-12-31 01730815 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2025-12-31 01730815 ns5:Non-currentFinancialInstruments ns5:BetweenTwoFiveYears 2024-12-31 01730815 ns5:WithinOneYear 2025-12-31 01730815 ns5:WithinOneYear 2024-12-31 01730815 ns5:BetweenOneFiveYears 2025-12-31 01730815 ns5:BetweenOneFiveYears 2024-12-31 01730815 ns5:AllPeriods 2025-12-31 01730815 ns5:AllPeriods 2024-12-31 01730815 ns5:Secured 2025-12-31 01730815 ns5:Secured 2024-12-31 01730815 ns5:DeferredTaxation 2024-12-31 01730815 ns5:DeferredTaxation 2025-12-31 01730815 ns10:OrdinaryShareClass1 2025-12-31 01730815 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 01730815 ns5:CapitalRedemptionReserve 2024-12-31

REGISTERED NUMBER: 01730815 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements for the Year Ended 31 December 2025 |

| for |

| Emmi Desserts Maidenhead Limited |

| Previously known as |

| The Handmade Cake Company Limited |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Contents of the Financial Statements

for the year ended 31 December 2025

| Page |

| Company Information | 1 |

| Strategic Report | 2 |  | to |  | 3

| Report of the Directors | 4 |  | to |  | 5

| Report of the Independent Auditors | 6 |  | to |  | 9

| Statement of Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Notes to the Financial Statements | 13 |  | to |  | 24

| Emmi Desserts Maidenhead Limited |

Company Information

for the year ended 31 December 2025

| DIRECTORS: | Mr D Boudy

| Mrs R Sudhir

| Mr N Taylor

| Mr H G Verdino

| Mr R M Muller

| SECRETARY: | Mr R M Muller

| REGISTERED OFFICE: | The Bakery

| Gardner Road

| Maidenhead

| Berkshire

| SL6 7TU

| REGISTERED NUMBER: | 01730815 (England and Wales)

| AUDITORS: | Clifford Roberts

| Chartered Accountants &

| Statutory Auditors

| Pacioli House

| 9 Brookfield

| Duncan Close

| Northampton

| Northamptonshire

| NN3 6WL

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Strategic Report

for the year ended 31 December 2025

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

PRINCIPAL ACTIVITY

The principal activity of the company is the manufacture and wholesale of bakery products.

BUSINESS REVIEW

The year ended 31 December 2025 generated turnover of £23,719,626 (2024: £22,916,940) and a profit after taxation of £2,617,775 (2024: £2,487,053).

The Company absorbed some increases in raw material and labour costs during the year, resulting in pressure on gross profit margins. A strategic decision was taken not to pass these cost increases fully on to customers, following significant price increases over the preceding two years, in order to support continued growth and strengthen market position.

The level of inflation, especially in food and cost of living has increased the challenge on growing top line sales and profitability in the high street, in restaurants and pubs. The New Product Development team have developed an extended range of products with a focus on the continually growing areas of Gluten Free and Vegan as new listings are needed to bring a freshness back to our customers menus.

PRINCIPAL RISKS AND UNCERTAINTIES

Exposure to price, cash flow and business risk arises in the normal course of Emmi Desserts Maidenhead Limited's business. These risks are limited by the Company's financial management policies described below:

Price Risk

The Company is exposed to commodity price risk due to its operations. The Company looks to mitigate this risk wherever possible by entering into price and volume contracts to support its performance. The volatility of the commodity market as well as increases in the packaging costs due to board costs going up, had an impact in the profit as we did not resort to price increase in 2025. Cost increases were mitigated wherever possible through efficiency improvements.

Cash Flow Risk

The Company is exposed to movements in working capital. To mitigate this the Company operates appropriate credit collection process to minimise overdue debts. Supplier payments are maintained to agreed terms and inventory is monitored regularly.

Business Risk

The Board has established a formal process of identifying, evaluating and managing the business risk faced, with ongoing review of progress against strategic objectives. The business risks reviewed include:

| - |  | external business risk including regulatory and compliance obligations |

| - |  | operational risk arising from supplier dependency, material damage, fire |

| - |  | legal risk arising from contracts with suppliers |  |

| - |  | information risk including integrity of IT systems and security of information. |

KEY PERFORMANCE INDICATORS

The Directors monitor performance of the company by monitoring monthly KPIs which include, but are not limited to:

Net Sales

Gross Profit

EBITDA

Net Working Capital

Cash generation and Manufacturing data

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Strategic Report

for the year ended 31 December 2025

GOING CONCERN

Based on forecasts and projections, together with available market information and the director's knowledge and experience of the industry, the directors have a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the annual financial statements.

With the business' focus being on planning ahead with new product ranges, investment in key new equipment alongside excellent customer contact and communication, it has led to the business strengthen its relationships and build relationships with new potential customers to get a strong start in 2026.

ON BEHALF OF THE BOARD:

Director

29 June 2026

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Report of the Directors

for the year ended 31 December 2025

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

CHANGE OF NAME

The company passed a special resolution on 8 April 2026 changing its name from The Handmade Cake Company Limited to Emmi Desserts Maidenhead Limited.

DIVIDENDS

An interim dividend of £32.58 per share was paid on . The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £ 13,000,000 .

RESEARCH AND DEVELOPMENT

The company continues to develop new products in the areas of frozen desserts and cakes. It continues to actively assess market opportunities in the sector using the extensive product and sector knowledge of its experienced New Product Development team to bring innovative products to the market.

DIRECTORS

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

Mr D Boudy

Mrs R Sudhir

Mr N Taylor

Mr H G Verdino

Other changes in directors holding office are as follows:

Mr E Sabatie-Garat - resigned 15 March 2025

Mr R M Muller - appointed 15 March 2025

EMPLOYEES

The company ensures that employees are made aware of factors that affect the performance of the company and that employees are provided with information on matters which concern them. Employees are also regularly consulted to ensure that their views are taken into account in decisions that affect their interests.

During the year, the company gave full and fair consideration to applications for employment from disabled persons having regard to their particular aptitudes, when related to any suitable opportunities available.

Company policy provides that existing employees who become disabled shall continue employment with the company, if at all possible, subject to any appropriate training.

Training, career development and promotion apply equally to all employees, taking into consideration their aptitudes and abilities.

DISCLOSURE IN THE STRATEGIC REPORT

Principal activity, financial risk management objectives and policies in respect of the exposure to price, credit, cash flow and business risks are set out in the strategic report (as defined by section 414 C (11) of the Companies Act 2006).

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Report of the Directors

for the year ended 31 December 2025

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). 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;

- | 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, Clifford Roberts, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Mr N Taylor - Director

29 June 2026

Report of the Independent Auditors to the Members of

Emmi Desserts Maidenhead Limited

Opinion

We have audited the financial statements of Emmi Desserts Maidenhead Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, 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.

Report of the Independent Auditors to the Members of

Emmi Desserts Maidenhead Limited

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 five, 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.

Report of the Independent Auditors to the Members of

Emmi Desserts Maidenhead Limited

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- |  | We obtained an understanding of the legal and regulatory framework applicable to the company and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK Generally Accepted Accounting Practice, UK corporate taxation laws and the BRC Global Standard for Food Safety. |

- |  | We obtained an understanding of how the company is complying with those legal and regulatory frameworks by making inquiries to the management and by observing the oversight of management, the culture of honesty and ethical behaviour and whether strong emphasis is placed on fraud prevention, which may reduce the opportunities for fraud to take place, and fraud deterrence, which could persuade individuals not to commit fraud in the first instance . We corroborated our inquiries through our review of all relevant available audit information. |

- |  | We assessed and understood the susceptibility of the company's financial statements to material misstatement, including how fraud might occur. Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. The audit procedures performed by the engagement team included: |

| > |  | Identifying and assessing the design and effectiveness of controls management has in place to prevent and detect fraud; |

| > |  | Understanding of how senior management considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process; |

| > |  | Challenging assumptions and judgements made by management in its significant accounting estimates; |

| > |  | Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; and, |

| > |  | Assessing the extent of compliance with relevant laws and regulations. |

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Emmi Desserts Maidenhead 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.

Luke Marlow ACA (Senior Statutory Auditor)

for and on behalf of Clifford Roberts

Chartered Accountants &

Statutory Auditors

Pacioli House

9 Brookfield

Duncan Close

Northampton

Northamptonshire

NN3 6WL

30 June 2026

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Statement of Comprehensive

Income

for the year ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 23,719,626 |  | 22,916,940 |  |

Cost of sales | 14,732,681 |  | 13,433,176 |  |

GROSS PROFIT | 8,986,945 |  | 9,483,764 |  |

Administrative expenses | 6,083,448 |  | 6,382,131 |  |

2,903,497 |  | 3,101,633 |  |

Other operating income | 4 | 105,295 |  | - |  |

OPERATING PROFIT | 7 | 3,008,792 |  | 3,101,633 |  |

Restructuring costs | 9 | 4,693 |  | 43,807 |  |

3,004,099 |  | 3,057,826 |  |

Interest receivable and similar income | 10 | 191,604 |  | 303,410 |  |

Interest payable and similar expenses | 11 | (63,118 | ) | (83,602 | ) |

PROFIT BEFORE TAXATION | 3,132,585 |  | 3,277,634 |  |

Tax on profit | 12 | 514,810 |  | 790,581 |  |

PROFIT FOR THE FINANCIAL YEAR | 2,617,775 |  | 2,487,053 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 2,617,775 |  | 2,487,053 |  |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 14 | 168,323 |  | 461,528 |  |

Tangible assets | 15 | 3,004,339 |  | 3,118,512 |  |

3,172,662 |  | 3,580,040 |  |

CURRENT ASSETS

Stocks | 16 | 1,735,171 |  | 1,626,245 |  |

Debtors | 17 | 5,072,584 |  | 12,591,886 |  |

Cash at bank and in hand | 4,240,074 |  | 2,004,799 |  |

11,047,829 |  | 16,222,930 |  |

CREDITORS

Amounts falling due within one year | 18 | 6,508,129 |  | 1,584,654 |  |

NET CURRENT ASSETS | 4,539,700 |  | 14,638,276 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,712,362 |  | 18,218,316 |  |

CREDITORS

Amounts falling due after more than one year | 19 | (849,284 | ) | (954,951 | ) |

PROVISIONS FOR LIABILITIES | 24 | (50,900 | ) | (68,962 | ) |

NET ASSETS | 6,812,178 |  | 17,194,403 |  |

CAPITAL AND RESERVES

Called up share capital | 25 | 399,000 |  | 399,000 |  |

Capital redemption reserve | 26 | 53,025 |  | 53,025 |  |

Retained earnings | 26 | 6,360,153 |  | 16,742,378 |  |

SHAREHOLDERS' FUNDS | 6,812,178 |  | 17,194,403 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 29 June 2026 and were signed on its behalf by:

Mr N Taylor - Director

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Statement of Changes in Equity

for the year ended 31 December 2025

| Called up |  | Capital |

| share |  | Retained |  | redemption |  | Total

| capital |  | earnings |  | reserve |  | equity

£ | £ | £ | £ |

Balance at 1 January 2024 | 399,000 |  | 14,255,325 |  | 53,025 |  | 14,707,350 |  |

Changes in equity

Total comprehensive income | - |  | 2,487,053 |  | - |  | 2,487,053 |  |

Balance at 31 December 2024 | 399,000 |  | 16,742,378 |  | 53,025 |  | 17,194,403 |  |

Changes in equity

Dividends | - |  | (13,000,000 | ) | - |  | (13,000,000 | ) |

Total comprehensive income | - |  | 2,617,775 |  | - |  | 2,617,775 |  |

Balance at 31 December 2025 | 399,000 |  | 6,360,153 |  | 53,025 |  | 6,812,178 |  |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements

for the year ended 31 December 2025

1. | STATUTORY INFORMATION

| Emmi Desserts Maidenhead 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 financial statements are presented in Sterling (£), and are prepared to 31st December each year.

| Going concern

| The financial statements have been prepared on a going concern basis after due consideration of the principal risks and uncertainties disclosed in the strategic report. In reaching their conclusion the directors have considered the financial position of the company and it having sufficient liquidity to enable it to meet its obligations as they fall due for a period of at least twelve months from the date of signing these financial statements.

| Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions 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;

| • | the requirement of paragraph 33.7.

| The company is included within the consolidated accounts of Emmi AG, which are available from their registered address Landenbergstrasse 1, 6002 Lucerne, Switzerland.

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Significant judgements and estimates

| In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

| The items in the financial statements where these judgements and estimates were deemed to be significant include:

| (a) Customer Rebates/Retrospective discounts

| The company enters into arrangements with certain customers to pay rebates and/or retrospective discounts depending on volume achieved. These arrangements are negotiated on an individual customer basis. Accruals are recorded when goods are sold according to the terms of the contract and the expected rate at which these payments will be made.

| (b) Debtors

| Debtors are recorded when a sale is made. A review of the recoverability of debt is undertaken periodically through the year to determine any bad debt provision requirement. This review also considers the level of credit insurance cover in place for the customer.

| (c) Stock valuation

| Stock valuation, in accordance with FRS102, incorporates the cost of raw materials, direct labour costs associated with production and directly attributable overheads. Management reassesses the allocation of these costs at the end of each period.

| (d) The determination of the useful life of assets

| In determining the the useful life of assets, management estimate both the residual value and useful economic lives of assets. Both judgements rely on the experience of management.

| Revenue

| Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

| The Company recognises revenue when:-

| The amount of revenue can be reliably measured;

| It is probable that future economic benefits will follow to the entity and

| Specific criteria have been met for each of the Company's activities.

| 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.

| Computer software is being amortised evenly over its estimated useful life of five years.

| Amortisation is charged to write off the cost of the assets over their useful lives, included within administrative expenses.

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

| Depreciation

| Depreciation is charged to write off the costs of assets, other than land and properties under construction, over their estimated useful lives, as follows:

| Asset Class |  | Depreciation method and rate |  |

| Plant and machinery |  | 10-33% on cost |  |

| Land and buildings |  | over varying amounts |  |

| Motor Vehicles 33% on cost

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using a weighted average cost method.

| The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

| Financial instruments

| The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans and balances to and from related parties.

| Debt instruments (other than those wholly repayable or receivable in one year), including loans and other accounts receivable and payable, are initially measured at the present value of future cash flows and subsequently at amortised cost using the effective interest rate method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective impairment is found, an impairment loss is recognised in the income statement.

| 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.

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

| Non-monetary items measured in terms of historical cost in a foreign currency are not translated.

| Pension costs and other post-retirement benefits

| A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

| Contributions to defined contributions plans are recognised as employees benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

| Cash and cash equivalents

| Cash and cash equivalents comprise cash in hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Trade debtors

| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

| Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

| Trade Creditors

| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities. If the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date, they are presented as non-current liabilities.

| Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

| Interest bearing borrowings

| Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

| Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

| Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

| Dividends

| Dividend distribution to the companys shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 23,719,626 |  | 22,737,747 |  |

| Europe | - |  | 179,193 |  |

23,719,626 |  | 22,916,940 |  |

4. | OTHER OPERATING INCOME

| 2025 |  | 2024

£ | £ |

| R&D credit | 105,295 |  | - |  |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

5. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 5,997,369 |  | 5,349,764 |  |

| Social security costs | 492,710 |  | 446,569 |  |

| Other pension costs | 350,668 |  | 335,056 |  |

6,840,747 |  | 6,131,389 |  |

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

| 2025 |  | 2024

| Production | 162 |  | 151 |  |

| Administration and support | 25 |  | 31 |  |

187 |  | 182 |  |

6. | DIRECTORS' REMUNERATION

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | - |  | 111,316 |  |

| Directors' pension contributions to money purchase schemes | - |  | 6,229 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | - |  | 2 |  |

7. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 506,505 |  | 733,522 |  |

| Profit on disposal of fixed assets | (5,833 | ) | - |  |

| Computer software amortisation | 293,205 |  | 308,237 |  |

| Foreign exchange differences | (1,974 | ) | 874 |  |

| Certain comparative amounts have been reclassified to conform with the current year's presentation. Costs of £194,109 previously included within cost of sales have been reclassified to administrative expenses. This reclassification has no impact on operating profit, profit for the financial year, net assets or shareholders' funds.

8. | AUDITORS' REMUNERATION

| 2025 |  | 2024

£ | £ |

| Fees payable to the company's auditors for the audit of the company's financial statements | 25,532 |  | 18,719 |  |

9. | EXCEPTIONAL ITEMS

| 2025 |  | 2024

£ | £ |

| Restructuring costs | (4,693 | ) | (43,807 | ) |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

10. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 2025 |  | 2024

£ | £ |

| Interest on corporation tax | 47,528 |  | - |  |

| Group interest received | 144,076 |  | 303,410 |  |

191,604 |  | 303,410 |  |

11. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Bank loan interest | 63,118 |  | 83,602 |  |

12. | 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 | 532,872 |  | 795,900 |  |

| Deferred tax | (18,062 | ) | (5,319 | ) |

| Tax on profit | 514,810 |  | 790,581 |  |

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 3,132,585 |  | 3,277,634 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 783,146 |  | 819,409 |  |

| Effects of:

| Expenses not deductible for tax purposes | (1,457 | ) | - |  |

| Capital allowances in excess of depreciation | (76,994 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 72,121 |  |

| Group relief | (145,499 | ) | (95,630 | ) |

| R&D Tax credits | (26,324 | ) | - |  |

| Deferred tax | (18,062 | ) | (5,319 | ) |

| Total tax charge | 514,810 |  | 790,581 |  |

13. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Ordinary shares of £1 each

| Final | 13,000,000 |  | - |  |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

14. | INTANGIBLE FIXED ASSETS

| Computer

| software

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 1,579,022 |  |

| AMORTISATION

| At 1 January 2025 | 1,117,494 |  |

| Amortisation for year | 293,205 |  |

| At 31 December 2025 | 1,410,699 |  |

| NET BOOK VALUE

| At 31 December 2025 | 168,323 |  |

| At 31 December 2024 | 461,528 |  |

15. | TANGIBLE FIXED ASSETS

| Assets |

| Freehold |  | under |  | Plant and

| property |  | construction |  | machinery

£ | £ | £ |

| COST

| At 1 January 2025 | 4,682,880 |  | 410,465 |  | 4,053,231 |  |

| Additions | - |  | 249,661 |  | 73,751 |  |

| Disposals | - |  | - |  | - |  |

| Reclassification/transfer | - |  | (92,285 | ) | 74,788 |  |

| At 31 December 2025 | 4,682,880 |  | 567,841 |  | 4,201,770 |  |

| DEPRECIATION

| At 1 January 2025 | 2,891,018 |  | - |  | 3,555,450 |  |

| Charge for year | 220,006 |  | - |  | 113,899 |  |

| Eliminated on disposal | - |  | - |  | - |  |

| At 31 December 2025 | 3,111,024 |  | - |  | 3,669,349 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,571,856 |  | 567,841 |  | 532,421 |  |

| At 31 December 2024 | 1,791,862 |  | 410,465 |  | 497,781 |  |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

15. | TANGIBLE FIXED ASSETS - continued

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 2,798,156 |  | 56,785 |  | 12,001,517 |  |

| Additions | 68,920 |  | - |  | 392,332 |  |

| Disposals | - |  | (36,890 | ) | (36,890 | ) |

| Reclassification/transfer | 17,497 |  | - |  | - |  |

| At 31 December 2025 | 2,884,573 |  | 19,895 |  | 12,356,959 |  |

| DEPRECIATION

| At 1 January 2025 | 2,379,752 |  | 56,785 |  | 8,883,005 |  |

| Charge for year | 172,600 |  | - |  | 506,505 |  |

| Eliminated on disposal | - |  | (36,890 | ) | (36,890 | ) |

| At 31 December 2025 | 2,552,352 |  | 19,895 |  | 9,352,620 |  |

| NET BOOK VALUE

| At 31 December 2025 | 332,221 |  | - |  | 3,004,339 |  |

| At 31 December 2024 | 418,404 |  | - |  | 3,118,512 |  |

| The company's freehold property has been pledged as security for the company's bank loans.

16. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 774,339 |  | 855,709 |  |

| Work-in-progress | 7,784 |  | 10,684 |  |

| Finished goods | 953,048 |  | 759,852 |  |

1,735,171 |  | 1,626,245 |  |

| The replacement cost of the above stock would not be significantly different from the values stated.

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

2025 | 2024 |

£ | £ |

| Trade debtors | 1,350 |  | 24,080 |  |

| Amounts owed by group undertakings | 4,924,436 |  | 12,377,340 |  |

| VAT | 64,036 |  | 91,602 |  |

| Prepayments | 82,762 |  | 98,864 |  |

5,072,584 |  | 12,591,886 |  |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 20) | 171,888 |  | 142,224 |  |

| Trade creditors | 1,524,973 |  | 764,287 |  |

| Amounts owed to group undertakings | 4,657,105 |  | - |  |

| Tax | (563,066 | ) | (454,090 | ) |

| Social security and other taxes | 171,090 |  | 107,547 |  |

| Other creditors | 78,211 |  | 103,538 |  |

| Accruals and deferred income | 467,928 |  | 921,148 |  |

6,508,129 |  | 1,584,654 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans (see note 20) | 849,284 |  | 954,951 |  |

20. | LOANS

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

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank loans | 171,888 |  | 142,224 |  |

| Amounts falling due between one and two years:

| Bank loans | 181,132 |  | 152,051 |  |

| Amounts falling due between two and five years:

| Bank loans | 585,879 |  | 522,143 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans | 82,273 |  | 280,757 |  |

21. | HIRE PURCHASE AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 9,260 |  | 10,824 |  |

| Between one and five years | 4,340 |  | 13,600 |  |

13,600 |  | 24,424 |  |

| The operating leases represent leases of vehicles from third parties.

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

22. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank loans | 1,021,172 |  | 1,097,175 |  |

| At the year end the company held a charge containing negative pledges, with HSBC Bank Plc, in the form of a mortgage over the freehold property and land situated at the south of Gardner Road, Maidenhead. This charge was satisfied post year on 21st January 2026.

| Interest is charged on the facility at 1.5% over the prevailing Bank of England base rate. The final instalment is due in August 2030.

23. | FINANCIAL INSTRUMENTS

| The Company has exposure to interest rate, price and cash flow risks, these are limited by the company's financial management policies and practices described below:

| Interest rate risk

| The company is exposed to interest rate risk on interest bearing credit facilities.

| Price Risk

| The Company is exposed to commodity price risk due to its operations. The Company looks to mitigate this risk wherever possible by entering into price and volume contracts to support its performance. The volatility of the commodity market as well as an increase in the packaging costs due to board costs going up, forced the company to go for a price increase and thereby rebalance the product margins.

| Cash Flow Risk

| The Company is exposed to movements in working capital. To mitigate this the company operates appropriate credit collection process to minimise over due debts. Supplier payments are maintained to agreed terms and inventory is monitored regularly.

24. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 50,900 |  | 68,962 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 68,962 |  |

| Accelerated Capital Allowances | (18,062 | ) |

| Balance at 31 December 2025 | 50,900 |  |

| Deferred tax has been computed at the rate of 25% (2024: 25%).

25. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 399,000 | Ordinary | £1 | 399,000 |  | 399,000 |  |

| Emmi Desserts Maidenhead Limited (Registered number: 01730815) |

Notes to the Financial Statements - continued

for the year ended 31 December 2025

25. | CALLED UP SHARE CAPITAL - continued

| Called up share capital

| Called up share capital represents the nominal value of shares that have been issued.

26. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 January 2025 | 16,742,378 |  | 53,025 |  | 16,795,403 |  |

| Profit for the year | 2,617,775 |  | - |  | 2,617,775 |  |

| Dividends | (13,000,000 | ) | - |  | (13,000,000 | ) |

| At 31 December 2025 | 6,360,153 |  | 53,025 |  | 6,413,178 |  |

| Retained earnings

| Includes all current and prior year retained profit and losses.

| Capital redemption reserve

| This non-distributable reserve represents the nominal value of the company's own shares brought back from shareholders.

27. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The pension cost for the period represents contributions payable by the company to the scheme of £350,669 (2024: £335,056). The amount owed to the pension schemes at the year end was £13,232 (2024: £40,476).

28. | CONTINGENT LIABILITIES

| As at both 31 December 2025 and 31 December 2024 there were no contingent liabilities.

29. | CAPITAL COMMITMENTS

2025 | 2024 |

£ | £ |

| Contracted but not provided for in the

| financial statements | 177,579 |  | 397,148 |  |

30. | RELATED PARTY DISCLOSURES

| The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

31. | ULTIMATE CONTROLLING PARTY

| The immediate parent company is Holding Mademoiselle Desserts, a company incorporated in France, which is a subsidiary of Emmi AG, a company registered in Switzerland and listed at the Swiss Stock Exchange.

| The directors of the company consider the publicly listed Emmi AG to be its ultimate controlling party. The company is included within the consolidated accounts of Emmi AG, which are available from their registered address Landenbergstrasse 1, 6002 Lucerne, Switzerland.