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REGISTERED NUMBER: 08928249 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

FOR

ASHCOURT FARMS LIMITED

| ASHCOURT FARMS LIMITED (REGISTERED NUMBER: 08928249) |

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

Page |

| Company Information | 1 |

| Statement of Financial Position | 2 |

| Notes to the Financial Statements | 4 |

| ASHCOURT FARMS LIMITED |

COMPANY INFORMATION

FOR THE YEAR ENDED 31 OCTOBER 2025

| DIRECTORS: | D M Boak

| A J K Bousfield

| K J Bousfield

| REGISTERED OFFICE: | Ashcourt Group

| Halifax Way

| Pocklington

| East Yorkshire

| YO42 1NR

| REGISTERED NUMBER: | 08928249 (England and Wales)

| ACCOUNTANTS: | Lloyd Dowson Limited

| Medina House

| 2 Station Avenue

| Bridlington

| East Yorkshire

| YO16 4LZ

| ASHCOURT FARMS LIMITED (REGISTERED NUMBER: 08928249) |

STATEMENT OF FINANCIAL POSITION

31 OCTOBER 2025

| 31.10.25 | 31.10.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | - |  | - |  |

Property, plant and equipment | 5 | 18,412,700 |  | 15,863,557 |  |

Investment property | 6 | 1,056,614 |  | 1,056,614 |  |

19,469,314 |  | 16,920,171 |  |

CURRENT ASSETS

Inventories | 517,248 |  | 455,770 |  |

Debtors | 7 | 17,542,583 |  | 10,280,458 |  |

Cash at bank | 194,140 |  | 141,764 |  |

18,253,971 |  | 10,877,992 |  |

CREDITORS

Amounts falling due within one year | 8 | 22,689,501 |  | 14,266,745 |  |

NET CURRENT LIABILITIES | (4,435,530 | ) | (3,388,753 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 15,033,784 |  | 13,531,418 |  |

CREDITORS

Amounts falling due after more than one year | 9 | (11,023,366 | ) | (9,742,226 | ) |

PROVISIONS FOR LIABILITIES | (505,090 | ) | (427,860 | ) |

NET ASSETS | 3,505,328 |  | 3,361,332 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 1 |  | 1 |  |

Retained earnings | 3,505,327 |  | 3,361,331 |  |

SHAREHOLDERS' FUNDS | 3,505,328 |  | 3,361,332 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

| ASHCOURT FARMS LIMITED (REGISTERED NUMBER: 08928249) |

STATEMENT OF FINANCIAL POSITION - continued

31 OCTOBER 2025

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 July 2026 and were signed on its behalf by:

K J Bousfield - Director

| ASHCOURT FARMS LIMITED (REGISTERED NUMBER: 08928249) |

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2025

1. | STATUTORY INFORMATION

| Ashcourt Farms 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Related party exemption

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

| Revenue

| Turnover represents contracting income, livestock and crop sales excluding discounts, rebates, value added tax and other taxes. Turnover is generated from farming activities and recognised on the exchange of goods and services.

| Entitlements

| Payments made in respect of future rights to receive entitlement payments are capitalised as intangible fixed assets and amortised over 5 years on a straight line basis.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Freehold property | - | 2% on cost, excluding land element

| Plant and machinery | - | 15% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the statement of income and retained earnings.

| Inventories

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

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| ASHCOURT FARMS LIMITED (REGISTERED NUMBER: 08928249) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 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 statement of financial position date.

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

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

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to the statement of income and retained earnings over the period to which they relate.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions are charged to the statement of income and retained earnings in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2024 - 3 ) .

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 November 2024

| and 31 October 2025 | 50,000 |  |

| AMORTISATION

| At 1 November 2024

| and 31 October 2025 | 50,000 |  |

| NET BOOK VALUE

| At 31 October 2025 | - |  |

| At 31 October 2024 | - |  |

| ASHCOURT FARMS LIMITED (REGISTERED NUMBER: 08928249) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

5. | PROPERTY, PLANT AND EQUIPMENT

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 November 2024 | 14,478,629 |  | 3,247,528 |  | 17,726,157 |  |

| Additions | 2,197,519 |  | 1,237,014 |  | 3,434,533 |  |

| Disposals | - |  | (806,607 | ) | (806,607 | ) |

| At 31 October 2025 | 16,676,148 |  | 3,677,935 |  | 20,354,083 |  |

| DEPRECIATION

| At 1 November 2024 | 540,869 |  | 1,321,731 |  | 1,862,600 |  |

| Charge for year | 87,692 |  | 317,808 |  | 405,500 |  |

| Eliminated on disposal | - |  | (326,717 | ) | (326,717 | ) |

| At 31 October 2025 | 628,561 |  | 1,312,822 |  | 1,941,383 |  |

| NET BOOK VALUE

| At 31 October 2025 | 16,047,587 |  | 2,365,113 |  | 18,412,700 |  |

| At 31 October 2024 | 13,937,760 |  | 1,925,797 |  | 15,863,557 |  |

| The net book value of property, plant and equipment includes £ 1,451,068 (2024 - £ 1,429,284 ) in respect of assets held under hire purchase contracts.

6. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 November 2024

| and 31 October 2025 | 1,056,614 |  |

| NET BOOK VALUE

| At 31 October 2025 | 1,056,614 |  |

| At 31 October 2024 | 1,056,614 |  |

| Investment property was valued on a fair value basis on 31 October 2025 by the directors.

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Trade debtors | 125,811 |  | 293,343 |  |

| Amounts owed by group undertakings | 2,183,934 |  | 2,418,934 |  |

| Amounts owed by associated companies | 14,339,098 |  | 6,894,160 |  |

| Other debtors | 893,740 |  | 674,021 |  |

17,542,583 |  | 10,280,458 |  |

| ASHCOURT FARMS LIMITED (REGISTERED NUMBER: 08928249) |

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 OCTOBER 2025

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Bank loans and overdrafts | 4,451,928 |  | 60,000 |  |

| Hire purchase contracts | 398,041 |  | 491,954 |  |

| Trade creditors | 88,161 |  | 26,011 |  |

| Amounts owed to group undertakings | 8,147,940 |  | 8,037,617 |  |

| Amounts owed to associates | 8,537,671 |  | 5,287,571 |  |

| Taxation and social security | 1,338 |  | 4,171 |  |

| Other creditors | 1,064,422 |  | 359,421 |  |

22,689,501 |  | 14,266,745 |  |

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

| 31.10.25 |  | 31.10.24

£ | £ |

| Bank loans | 10,504,000 |  | 9,137,501 |  |

| Hire purchase contracts | 519,366 |  | 604,725 |  |

11,023,366 |  | 9,742,226 |  |

| Amounts falling due in more than five years:

| Repayable by instalments

| Bank loans due after 5 years | 10,504,000 |  | 9,090,000 |  |

10. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31.10.25 |  | 31.10.24

£ | £ |

| Bank loans | 14,955,928 |  | 9,197,501 |  |

| Hire purchase contracts | 917,407 |  | 1,096,679 |  |

15,873,335 |  | 10,294,180 |  |

| Bank loans are secured by legal charges against the company's freehold property. Hire purchase liabilities are secured against the individual assets being financed.

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.10.25 |  | 31.10.24

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |