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REGISTERED NUMBER: 05980205 (England and Wales)

Metcalfe Farms (Haulage) Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31 March 2026

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Contents of the Financial Statements

for the Year Ended 31 March 2026

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Directors | 3 |

| Report of the Independent Auditors | 5 |

| Income Statement | 9 |

| Other Comprehensive Income | 10 |

| Balance Sheet | 11 |

| Statement of Changes in Equity | 12 |

| Cash Flow Statement | 13 |

| Notes to the Cash Flow Statement | 14 |

| Notes to the Financial Statements | 16 |

| Metcalfe Farms (Haulage) Limited |

Company Information

for the Year Ended 31 March 2026

| DIRECTORS: | D J Metcalfe

| B J Metcalfe

| N C Fowler

| B W Raw

| SECRETARY: | D J Metcalfe

| REGISTERED OFFICE: | Washfold Farm

| Leyburn

| North Yorkshire

| DL8 5JZ

| REGISTERED NUMBER: | 05980205 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Penelope Bowden ACA

| AUDITORS: | Riverside Accountancy Lancaster Ltd

| Chartered Accountants & Statutory Auditors

| Suite 2, 2 Mannin Way

| Lancaster Business Park

| Caton Road

| Lancaster

| LA1 3SU

| ACCOUNTANTS: | Addison & Co. Chartered Accountants

| Ebor House

| 91 Galgate

| Barnard Castle

| County Durham

| DL12 8ES

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Strategic Report

for the Year Ended 31 March 2026

The directors present their strategic report for the year ended 31 March 2026.

REVIEW OF BUSINESS & KEY PERFORMANCE INDICATORS

The directors continue to monitor a range of key performance indicators including turnover, gross profit margin and operating profit. There has been an increase in turnover of 4% from £31,662,235 to £32,924,103 with the gross profit percentage increasing to 6.1% from 3.9%. The net profit before taxation of £1,382,332 is a very healthy increase of 91.6% on last year's figure. The significant increase is mainly due to a significant gross profit margin increase.

The balance sheet, as detailed on page 11, shows a very strong position, with shareholders' funds amounting to £3,939,583.

PRINCIPAL RISKS AND UNCERTAINTIES

The company uses various financial instruments which include trade debtors. The main purpose of these financial instruments is to raise finance for the company's operations. The directors agree policies for managing the risks arising from the company's financial trading.

These are as follows:

Credit risk - in order to manage credit risk, the directors only give credit to customers with a good payment record. The company uses a particular reference agency and techniques in order to assess the financial soundness of their potential customers. Outstanding customer balances are reviewed and chased regularly in conjunction with debt ageing and collection history.

Interest rate risk - The company finances its operations through a combination of retained profits and an overdraft facility.

Customer risk - The company operates a policy of diluting this risk by seeking to diversify the number of customers with which it works, this has been particularly effective over recent years. The intention is to reduce the impact on turnover in the event of losing a customer.

Future - Turnover has been maintained in the first two months of the new financial year. Due to increased work, the company is considering expanding the fleet.

DEVELOPMENTS AND FUTURE DEVELOPMENTS

The directors continue to view future developments and widen up their income opportunities. There are no strategic planned developments for the next 12 months at the time of these financial statements.

ON BEHALF OF THE BOARD:

D J Metcalfe - Secretary

30 July 2026

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Report of the Directors

for the Year Ended 31 March 2026

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of haulage contractors.

DIVIDENDS

The total distribution of dividends for the year ended 31 March 2026 will be £ 700,000 .

DIRECTORS

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

Other changes in directors holding office are as follows:

M A Brookes - resigned 31.8.25

The directors shown below were in office at 31 March 2026 but did not hold any interest in the Ordinary shares of £1 each at 1 April 2025 or 31 March 2026.

D J Metcalfe

B J Metcalfe

N C Fowler

B W Raw

STREAMLINED ENERGY AND CARBON REPORTING

The company's principal source of greenhouse gas emissions arises from the diesel consumed by its haulage fleet in carrying out transport operations.Electricity consumption at the company's administrative premises is immaterial and is not considered significant for the purposes of this disclosure.

During the financial year, the Company consumed 2,587,239 litres of diesel (2025: 3,120,353 litres). Using the UK Government Greenhouse Gas Reporting Conversion Factors, this equates to an estimated 6,520 tonnes of carbon dioxide equivalent (tCO2e) (2025: 7,863 tCO2e).The resulting energy consumption is 25,714,555 kWh (2025: 31,016,309 kWh).

The company travelled 8,057,741 kilometres during the year (2025: 8,981,969 kilometres). Although transport activity reduced by approximately 10.3%, fuel consumption decreased by a greater proportion (17.1%). This resulted in an improvement in emissions intensity from 0.876 kg CO2e per kilometre to 0.809 kg CO2e per kilometre, demonstrating the company's continued focus on improving operational efficiency through route optimisation, driver performance initiatives, fleet utilisation and ongoing investment in newer, more fuel-efficient vehicles.

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Report of the Directors

for the Year Ended 31 March 2026

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 ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Riverside Accountancy Lancaster Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Metcalfe - Secretary

30 July 2026

Report of the Independent Auditors to the Members of

Metcalfe Farms (Haulage) Limited

Opinion

We have audited the financial statements of Metcalfe Farms (Haulage) Limited (the 'company') for the year ended 31 March 2026 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, 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 March 2026 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.

Report of the Independent Auditors to the Members of

Metcalfe Farms (Haulage) 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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

- adequate accounting records have not been kept, or returns adequate for our audit hae 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; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the directors' report and take advantage of the small companies exemption from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Metcalfe Farms (Haulage) 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Review of directors minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that company must follow in the year and to the date of signing the financial statements.

- The assessment of fraud was considered as low due to the segregation of duties seen, the low levels of cash handled and the regular reporting required of the company to its parent. A review of journal entries and consideration of their appropriateness was carried out through the audit.

- During the audit we speak to management, test the systems and speak to various members of the finance function to understand the entity, its processes and the nature of trade to assist in determining if the financial statements are true and fair.

- Challenging assumptions made by management in making their significant accounting estimates.

- Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations.

- Tangible fixed assets - we review and confirm ownership documents, physical verification of assets and carry out an impairment review.

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

Metcalfe Farms (Haulage) 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.

Penelope Bowden ACA (Senior Statutory Auditor)

for and on behalf of Riverside Accountancy Lancaster Ltd

Chartered Accountants & Statutory Auditors

Suite 2, 2 Mannin Way

Lancaster Business Park

Caton Road

Lancaster

LA1 3SU

30 July 2026

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Income Statement

for the Year Ended 31 March 2026

| 31.3.26 |  | 31.3.25

| Notes | £ | £ |

REVENUE | 3 | 32,924,103 |  | 31,662,235 |  |

Cost of sales | 30,914,377 |  | 30,426,489 |  |

GROSS PROFIT | 2,009,726 |  | 1,235,746 |  |

Administrative expenses | 635,622 |  | 518,244 |  |

1,374,104 |  | 717,502 |  |

Other operating income | 2,202 |  | - |  |

OPERATING PROFIT | 5 | 1,376,306 |  | 717,502 |  |

Interest receivable and similar income | 7,214 |  | 8,405 |  |

1,383,520 |  | 725,907 |  |

Interest payable and similar expenses | 6 | 1,188 |  | 4,560 |  |

PROFIT BEFORE TAXATION | 1,382,332 |  | 721,347 |  |

Tax on profit | 7 | 349,360 |  | 631,982 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,032,972 |  | 89,365 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Other Comprehensive Income

for the Year Ended 31 March 2026

| 31.3.26 |  | 31.3.25

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,032,972 |  | 89,365 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,032,972 |  | 89,365 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Balance Sheet

31 March 2026

| 31.3.26 | 31.3.25 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 9 | 1 |  | 3,751 |  |

Property, plant and equipment | 10 | 9,427,134 |  | 10,807,328 |  |

9,427,135 |  | 10,811,079 |  |

CURRENT ASSETS

Inventories | 11 | 80,763 |  | 62,853 |  |

Debtors | 12 | 6,352,333 |  | 5,259,382 |  |

Cash at bank and in hand | 2,197 |  | 218,448 |  |

6,435,293 |  | 5,540,683 |  |

CREDITORS

Amounts falling due within one year | 13 | 6,033,757 |  | 5,262,428 |  |

NET CURRENT ASSETS | 401,536 |  | 278,255 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 9,828,671 |  | 11,089,334 |  |

CREDITORS

Amounts falling due after more than one year | 14 | (3,885,000 | ) | (5,680,000 | ) |

PROVISIONS FOR LIABILITIES | 18 | (2,004,088 | ) | (1,802,723 | ) |

NET ASSETS | 3,939,583 |  | 3,606,611 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 90 |  | 90 |  |

Retained earnings | 20 | 3,939,493 |  | 3,606,521 |  |

SHAREHOLDERS' FUNDS | 3,939,583 |  | 3,606,611 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2026 and were signed on its behalf by:

B J Metcalfe - Director

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Statement of Changes in Equity

for the Year Ended 31 March 2026

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 April 2024 | 90 |  | 3,517,156 |  | 3,517,246 |  |

Changes in equity

Total comprehensive income | - |  | 89,365 |  | 89,365 |  |

Balance at 31 March 2025 | 90 |  | 3,606,521 |  | 3,606,611 |  |

Changes in equity

Dividends | - |  | (700,000 | ) | (700,000 | ) |

Total comprehensive income | - |  | 1,032,972 |  | 1,032,972 |  |

Balance at 31 March 2026 | 90 |  | 3,939,493 |  | 3,939,583 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Cash Flow Statement

for the Year Ended 31 March 2026

| 31.3.26 |  | 31.3.25

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 2,850,749 |  | 3,530,686 |  |

Interest paid | (1,188 | ) | (4,560 | ) |

Tax paid | (295,875 | ) | (192,314 | ) |

Net cash from operating activities | 2,553,686 |  | 3,333,812 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (1,106,451 | ) | (4,137,276 | ) |

Sale of tangible fixed assets | 614,052 |  | 825,193 |  |

Interest received | 7,214 |  | 8,405 |  |

Net cash from investing activities | (485,185 | ) | (3,303,678 | ) |

Cash flows from financing activities

New loans in year | - |  | 680,000 |  |

Loan repayments in year | (1,795,000 | ) | - |  |

Equity dividends paid | (700,000 | ) | - |  |

Net cash from financing activities | (2,495,000 | ) | 680,000 |  |

(Decrease)/increase in cash and cash equivalents | (426,499 | ) | 710,134 |  |

Cash and cash equivalents at beginning of year | 2 | 218,448 |  | (491,686 | ) |

Cash and cash equivalents at end of year | 2 | (208,051 | ) | 218,448 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Cash Flow Statement

for the Year Ended 31 March 2026

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 31.3.26 |  | 31.3.25

£ | £ |

| Profit before taxation | 1,382,332 |  | 721,347 |  |

| Depreciation charges | 2,142,237 |  | 2,447,906 |  |

| Profit on disposal of fixed assets | (265,894 | ) | (193,723 | ) |

| Finance costs | 1,188 |  | 4,560 |  |

| Finance income | (7,214 | ) | (8,405 | ) |

3,252,649 |  | 2,971,685 |  |

| (Increase)/decrease in inventories | (17,910 | ) | 5,418 |  |

| (Increase)/decrease in trade and other debtors | (945,071 | ) | 105,766 |  |

| Increase in trade and other creditors | 561,081 |  | 447,817 |  |

| Cash generated from operations | 2,850,749 |  | 3,530,686 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 March 2026

| 31.3.26 |  | 1.4.25

£ | £ |

| Cash and cash equivalents | 2,197 |  | 218,448 |  |

| Bank overdrafts | (210,248 | ) | - |  |

(208,051 | ) | 218,448 |  |

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 218,448 |  | 92,205 |  |

| Bank overdrafts | - |  | (583,891 | ) |

218,448 |  | (491,686 | ) |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Cash Flow Statement

for the Year Ended 31 March 2026

3. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)

| At 1.4.25 | Cash flow | At 31.3.26

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 218,448 |  | (216,251 | ) | 2,197 |  |

| Bank overdrafts | - |  | (210,248 | ) | (210,248 | ) |

218,448 |  | (426,499 | ) | (208,051 | ) |

| Total | 218,448 |  | (426,499 | ) | (208,051 | ) |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements

for the Year Ended 31 March 2026

1. | STATUTORY INFORMATION

| Metcalfe Farms (Haulage) 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.

| The company is part of a group and the consolidated accounts are available at the registered office. Details are:

| Parent company: |  | Metcalfe Farms (Holdings) Ltd |  |

| Registered office: |  | Washfold Farm |  |

| Leyburn |  |

| North Yorkshire |  |

| DL8 5JZ |  |

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, which is the functional currency of the company, and are rounded to the nearest pound.

| Significant judgements and estimates

| The preparation of the financial statements requires management to make judgements,

| estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Significant judgements

| The judgements (apart from those involving estimations) that management has made in the

| process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

| Useful economic life of tangible assets: the annual depreciation charge is sensitive to changes in the estimated economic lives and residual value of tangible fixed assets. Management re-assess these annually and amend them where necessary to reflect current estimates.

| Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are impairment of assets and WIP and recoverability of debtors, all of which directors review and make judgement of each year.

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

2. | ACCOUNTING POLICIES - continued

| Turnover

| Turnover represents net invoiced work done, excluding value added tax. Invoices are raised on either collection or delivery to follow on from the work completed.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

| Goodwill purchased in 2012 is being amortised evenly at 15% per year on cost.

| 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.

| Tangible fixed assets

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

| Plant and machinery - 15% on reducing balance

| Wagons - 25% on reducing balance

| Motor vehicles - 25% on reducing balance

| Trailers - 15% on reducing balance

| Stocks

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

| Financial instruments

| A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the

| arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Debt instruments are subsequently measured at amortised cost.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are

| individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the

| reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

2. | ACCOUNTING POLICIES - continued

| Taxation

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

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

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

| 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

| Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and depreciated over their estimated useful lives.

| The interest element of these obligations is charged to the profit and loss account 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 profit and loss account on a straight line basis over the period of the lease.

| Operating leases

| Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

2. | ACCOUNTING POLICIES - continued

| Management charges policy

| Management charges have been charged as an expense to cost of sales to reflect the work carried out by directors and management who are not otherwise remunerated for this work. The charge is determined each year based on time spent, and sales driven on similar lines such as a commission basis, the directors believe this cost is directly related to the turnover of the company and therefore have reflected it within cost of sales accordingly.

3. | REVENUE

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

| An analysis of revenue by geographical market is given below:

| 31.3.26 |  | 31.3.25

£ | £ |

| United Kingdom | 31,887,844 |  | 26,582,001 |  |

| Europe | 1,036,259 |  | 5,080,234 |  |

32,924,103 |  | 31,662,235 |  |

4. | EMPLOYEES AND DIRECTORS

| 31.3.26 |  | 31.3.25

£ | £ |

| Wages and salaries | 5,053,546 |  | 5,486,954 |  |

| Social security costs | 641,250 |  | 568,453 |  |

| Other pension costs | 224,909 |  | 245,607 |  |

5,919,705 |  | 6,301,014 |  |

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

| 31.3.26 |  | 31.3.25

| Directors | 4 |  | 5 |  |

| Drivers | 97 |  | 106 |  |

| Admin | 26 |  | 24 |  |

127 |  | 135 |  |

| 31.3.26 |  | 31.3.25

£ | £ |

| Directors' remuneration | 159,074 |  | 221,150 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

5. | OPERATING PROFIT

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Hire charge | 187,516 |  | 5,054 |  |

| Depreciation - owned assets | 2,138,487 |  | 2,444,158 |  |

| Profit on disposal of fixed assets | (265,894 | ) | (193,723 | ) |

| Goodwill amortisation | 3,750 |  | 3,750 |  |

| Auditors' remuneration | 8,400 |  | 7,925 |  |

| Foreign exchange differences | (844 | ) | 10,285 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 31.3.26 |  | 31.3.25

£ | £ |

| Bank interest | 1,188 |  | 4,560 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Current tax:

| UK corporation tax | 147,995 |  | - |  |

| Deferred tax | 201,365 |  | 631,982 |  |

| Tax on profit | 349,360 |  | 631,982 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

7. | TAXATION - continued

| Reconciliation of total tax charge included in profit and loss

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Profit before tax | 1,382,332 |  | 721,347 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2025 - 25%) | 345,583 |  | 180,337 |  |

| Effects of:

| Expenses not deductible for tax purposes | 2,841 |  | 2,234 |  |

| Capital allowances in excess of depreciation | - |  | (540,419 | ) |

| Depreciation in excess of capital allowances | 145,202 |  | - |  |

| Utilisation of tax losses | (348,781 | ) | - |  |

| Chargeable gains | 3,150 |  | 9,021 |  |

| Deferred tax | 201,365 |  | 631,982 |  |

| Losses carried forward | - |  | 348,827 |  |

| Total tax charge | 349,360 |  | 631,982 |  |

8. | DIVIDENDS

| 31.3.26 |  | 31.3.25

£ | £ |

| Interim | 700,000 |  | - |  |

| Since the year end dividends paid before the approval of the accounts amounted to £nil (2025 - £nil).

9. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 April 2025

| and 31 March 2026 | 155,001 |  |

| AMORTISATION

| At 1 April 2025 | 151,250 |  |

| Amortisation for year | 3,750 |  |

| At 31 March 2026 | 155,000 |  |

| NET BOOK VALUE

| At 31 March 2026 | 1 |  |

| At 31 March 2025 | 3,751 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

10. | PROPERTY, PLANT AND EQUIPMENT

| Plant and |  | Motor |

| machinery |  | Wagons |  | vehicles |  | Trailers |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2025 | 436,042 |  | 8,688,591 |  | 300,326 |  | 11,787,336 |  | 21,212,295 |  |

| Additions | - |  | 642,178 |  | - |  | 464,273 |  | 1,106,451 |  |

| Disposals | (51,050 | ) | (366,400 | ) | (43,424 | ) | (576,860 | ) | (1,037,734 | ) |

| At 31 March 2026 | 384,992 |  | 8,964,369 |  | 256,902 |  | 11,674,749 |  | 21,281,012 |  |

| DEPRECIATION

| At 1 April 2025 | 242,626 |  | 4,578,344 |  | 167,032 |  | 5,416,965 |  | 10,404,967 |  |

| Charge for year | 25,622 |  | 1,106,785 |  | 31,013 |  | 975,067 |  | 2,138,487 |  |

| Eliminated on disposal | (19,712 | ) | (291,031 | ) | (32,800 | ) | (346,033 | ) | (689,576 | ) |

| At 31 March 2026 | 248,536 |  | 5,394,098 |  | 165,245 |  | 6,045,999 |  | 11,853,878 |  |

| NET BOOK VALUE

| At 31 March 2026 | 136,456 |  | 3,570,271 |  | 91,657 |  | 5,628,750 |  | 9,427,134 |  |

| At 31 March 2025 | 193,416 |  | 4,110,247 |  | 133,294 |  | 6,370,371 |  | 10,807,328 |  |

11. | INVENTORIES

| 31.3.26 |  | 31.3.25

£ | £ |

| Stocks | 80,763 |  | 62,853 |  |

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Trade debtors | 5,905,315 |  | 4,915,397 |  |

| Other debtors | 7,759 |  | 2,605 |  |

| Corporation tax | 341,809 |  | 193,929 |  |

| Prepayments | 97,450 |  | 147,451 |  |

6,352,333 |  | 5,259,382 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Bank loans and overdrafts (see note 15) | 210,248 |  | - |  |

| Trade creditors | 5,256,138 |  | 4,674,562 |  |

| VAT | 179,801 |  | 170,153 |  |

| Loan from connected party | 224,557 |  | 273,263 |  |

| Accruals and deferred income | 163,013 |  | 144,450 |  |

6,033,757 |  | 5,262,428 |  |

| The directors have given personal guarantees in respect of the company’s bank overdrafts limited to £650,000 supported by a legal charge over Washfold Farm, Leyburn, North Yorkshire. It also has a debenture in form and substance satisfactory to the bank.

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Amounts owed to group undertakings | 3,885,000 |  | 5,680,000 |  |

15. | LOANS

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | 210,248 |  | - |  |

16. | LEASING AGREEMENTS

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

| 31.3.26 |  | 31.3.25

£ | £ |

| Within one year | 112,600 |  | 112,600 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

17. | FINANCIAL INSTRUMENTS

| The carrying amount of the company's financial instruments are as follows:

| Financial assets |  | 2026 |  | 2025 |  |

| Debt instruments measured at amortised cost: |  |

| - Trade debtors (note 12) |  | 5,905,315 |  | 4,915,397 |  |

| - Other debtors (note 12) |  | 7,759 |  | 2,605 |  |

| TOTAL |  | 5,913,074 |  | 4,918,002 |  |

| Financial liabilities |  |

| Measured at amortised cost: |  |

| - Trade creditors (note 13) |  | 5,256,138 |  | 4,674,562 |  |

| - Amounts owing to undertakings in which the company has |  | 224,557 |  | 273,263 |  |

| a participating interest (note 13) |  |

| TOTAL |  | 5,480,695 |  | 4,947,825 |  |

18. | PROVISIONS FOR LIABILITIES

| 31.3.26 |  | 31.3.25

£ | £ |

| Deferred tax | 2,004,088 |  | 1,802,723 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2025 | 1,802,723 |  |

| Charge to Income Statement during year | 201,365 |  |

| Balance at 31 March 2026 | 2,004,088 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted and issued:

| Number: | Class: | Nominal | 31.3.26 |  | 31.3.25

| value: | £ | £ |

| 90 | Ordinary | £1 | 90 |  | 90 |  |

20. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2025 | 3,606,521 |  |

| Profit for the year | 1,032,972 |  |

| Dividends | (700,000 | ) |

| At 31 March 2026 | 3,939,493 |  |

| Metcalfe Farms (Haulage) Limited (Registered number: 05980205) |

Notes to the Financial Statements - continued

for the Year Ended 31 March 2026

21. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The contributions to the scheme in the year were £224,909 (2025 £245,607).

22. | CAPITAL COMMITMENTS

| 31.3.26 |  | 31.3.25

£ | £ |

| Contracted but not provided for in the

| financial statements | 309,850 |  | 138,712 |  |

23. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The directors have given personal guarantees to the bank in respect of company borrowings.

| At the year end, the company owed a partnership, where all directors are partners, £119,702 (2025 £119,702).

| By way of inter entity trading at 31 March 2026 the actual amount owing by the partnership to the company was £11,404 (2025 £24,009) and the amount owed by the company to the partnership was £116,259 (2025 £177,570).

| In accordance with the company's memorandum and articles and the offsetting agreement between the company and the partnership, these amounts are offset. The result of this is that the company owes the partnership £224,557 (2025 £273,263).

24. | RELATED PARTY DISCLOSURES

| The company operates rent free from premises owned by a connected party.

| During the year there have been various transactions at market value with connected parties, which are not subsidiaries of the group.

| Metcalfe Farms (Haulage) Limited made sales and recharges to connected parties of £95,324 (2025

| - £440,963) during the year. Payments of £214,211 (2025 - £621,711) were received leaving a trade debtor balance due to the company of £101,642 (2025 - £220,529).

| Metcalfe Farms (Haulage) Limited made purchases from connected parties of £2,806,057 (2025 - £2,504,518) during the year. Payments of £2,653,424 (2025 - £4,606,371) were made leaving a trade creditor balance due to the connected parties of £603,048 (2025 - £450,415).

| During the year Metcalfe Farms (Haulage) Limited paid key management personnel for services plus pension £3,600,000 (2025 - £3,000,000).

25. | ULTIMATE CONTROLLING PARTY

| It is considered that the company is controlled by the directors.