ACCOUNTS - Final Accounts preparation

Unaudited Financial Statements

Almonry Limited

For the year ended 31 October 2025

Registered number: NI027666


Almonry Limited

Company Information

Directors	Andrew Lynas
	Lynda Lynas
	Hannah Lynas


Company secretary	Lynda Lynas


Registered number	NI027666


Registered office	At the Offices of Lynas Foodservice
	Loughanhill Industrial Estate
	Coleraine
	Northern Ireland
	BT52 2NR


Accountants	Grant Thornton Advisors (NI) LLP
	Chartered Accountants
	12 - 15 Donegall Square West
	Belfast
	BT1 6JH


Bankers	Bank of Ireland
	2 The Diamond
	Coleraine
	Londonderry
	BT52 1DE


Almonry Limited

Contents

	Page
Accountants' report	1
Balance sheet	2 - 3
Notes to the financial statements	4 - 8

Independent Accountant's Report to the directors of the unaudited financial statements of Almonry Limited for the year ended 31 October 2025

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Almonry Limited for the year ended 31 October 2025, which comprise the Profit and loss account, the Balance sheet and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Almonry Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Almonry Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Almonry Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410 (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 31 October 2025 and you have acknowledged on the Balance sheet as at 31 October 2025 your duty to ensure that Almonry Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Almonry Limited is exempt from the statutory audit requirement for the year ended 31 October 2025.

We have not been instructed to carry out an audit or review the financial statements of Almonry Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Maeve Hunt FCA
for and on behalf of
Grant Thornton Advisors (NI) LLP
Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH

Date: 31 July 2026

Page 1


Almonry Limited Registered number:NI027666

Balance sheet

As at 31 October 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	5		4,331,875		4,350,000
			4,331,875		4,350,000
Current assets
Debtors: amounts falling due within one year	6	90,220		9,507
Cash at bank and in hand	7	5,145		6,481
		95,365		15,988
Creditors: amounts falling due within one year	8	(4,401,022)		(4,382,674)
Net current liabilities			(4,305,657)		(4,366,686)
Total assets less current liabilities			26,218		(16,686)

Net assets/(liabilities)			26,218		(16,686)

Capital and reserves
Called up share capital	9	1,200	1,200
Capital redemption reserve	10	2,802	2,802
Profit and loss account	10	22,216	(20,688)
		26,218	(16,686)

Page 2


Almonry Limited Registered number:NI027666

Balance sheet (continued)

As at 31 October 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 July 2026.

Andrew Lynas

Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3


Almonry Limited

Notes to the financial statements

For the year ended 31 October 2025

1.	General information

Almonry Limited is a company limited by shares and incorporated in Northern Ireland. The registered office is At The Offices Of Lynas Foodservice, Loughanhill Industrial Estate, Coleraine, Northern Ireland, BT52 2NR.
The principal activity of the Company is the generation and sale of electricity.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of 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 (see note 3).

The financial statements are presented in Sterling (£).

The following principal accounting policies have been applied:

2.2

Going concern

The directors have assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4


Almonry Limited

Notes to the financial statements

For the year ended 31 October 2025

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery

20 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5


Almonry Limited

Notes to the financial statements

For the year ended 31 October 2025

2.Accounting policies (continued)

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Useful economic lives of tangible assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the assets.

Employees

The average monthly number of employees, including directors, during the year was 3 (2024 - 3).

Page 6


Almonry Limited

Notes to the financial statements

For the year ended 31 October 2025

5.	Tangible fixed assets

		Plant and machinery
		£
	Cost or valuation
	At 1 November 2024	4,350,000
	At 31 October 2025	4,350,000
	Depreciation
	Charge for the year	18,125
	At 31 October 2025	18,125
	Net book value
	At 31 October 2025	4,331,875
	At 31 October 2024	4,350,000

Debtors

					2025	2024
					£	£


Other debtors	220	216
Prepayments and accrued income	90,000	9,291
	90,220	9,507

7.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	5,145	6,481
	5,145	6,481

Page 7


Almonry Limited

Notes to the financial statements

For the year ended 31 October 2025

8.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to related parties	41,115	31,174
Corporation tax	8,407	-
Accruals and deferred income	4,351,500	4,351,500
	4,401,022	4,382,674

9.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1,200 (2024 - 1,200) Ordinary shares of £1.00 each	1,200	1,200

10.

Reserves

Capital redemption reserve

Includes the nominal value of shares repurchased by the company.

Profit and loss account

Includes all current and prior period retained profits and losses.

11.

Related party transactions

The Company is related to Lynas Foodservice by virtue of common control.
During the year, the related party paid expenses on behalf of the Company totalling £9,941 (2024: £23,131). At the balance sheet date, the amount owed by the Company to the related party was £41,115 (2024: £31,174). The balance is unsecured, interest free and repayable on demand.
During the year, the Company recognised revenue of £90,000 (2024: £nil) from the related party. This amount remained unpaid at the balance sheet date and has been recognised within accrued income.

12.	Controlling party

The company is controlled by the directors.

Page 8