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REGISTERED NUMBER: 03089071 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

QUORN COUNTRY FOODS LIMITED

QUORN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 03089071) |

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 4 |

| QUORN COUNTRY FOODS LIMITED |

COMPANY INFORMATION

for the year ended 31 December 2025

| DIRECTORS: | G J York

| P R York

| C J Haggis

| D Spray

| SECRETARY: | D Spray

| REGISTERED OFFICE: | Quorn House

| Comet Way

| Hermitage Industrial Estate

| Coalville Leicester

| LE67 3FS

| REGISTERED NUMBER: | 03089071 (England and Wales)

| ACCOUNTANTS: | Magma Audit LLP

| Unit 2 Charnwood Edge Business Park

| Syston Road, Leicester

| LE7 4UZ

| Magma Audit LLP is part

| Of the Dains Group

QUORN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 03089071) |

BALANCE SHEET

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 150 |  | 935 |  |

Tangible assets | 5 | 543,931 |  | 578,339 |  |

544,081 |  | 579,274 |  |

CURRENT ASSETS

Stocks | 715,881 |  | 698,406 |  |

Debtors | 6 | 3,350,516 |  | 3,013,138 |  |

Cash at bank and in hand | 10,605 |  | 18,765 |  |

4,077,002 |  | 3,730,309 |  |

CREDITORS

Amounts falling due within one year | 7 | (1,867,072 | ) | (1,404,699 | ) |

NET CURRENT ASSETS | 2,209,930 |  | 2,325,610 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,754,011 |  | 2,904,884 |  |

CREDITORS

Amounts falling due after more than one year | 8 | (33,333 | ) | (133,336 | ) |

PROVISIONS FOR LIABILITIES | (63,850 | ) | (80,500 | ) |

NET ASSETS | 2,656,828 |  | 2,691,048 |  |

QUORN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 03089071) |

BALANCE SHEET - continued

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

CAPITAL AND RESERVES

Called up share capital | 50,000 |  | 50,000 |  |

Retained earnings | 2,606,828 |  | 2,641,048 |  |

2,656,828 |  | 2,691,048 |  |

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 21 August 2026 and were signed on its behalf by:

C J Haggis - Director

QUORN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 03089071) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2025

1. | STATUTORY INFORMATION

| Quorn Country Foods Limited is a limited company, limited by shares, registered in England and Wales. Its registered office address is Quorn House Comet Way Hermitage Industrial Est, Coalville, Leicester, LE67 3FS and the registered number is 03089071.

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.

| The presentation currency of the financial statements is pound sterling (£) and figures are rounded to the nearest £1.

| 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.

| Related party exemption

| Turnover

| Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised upon despatch.

| Rendering of goods

| Revenue from the sale of bakery products is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| 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.

| Patents and licences are being amortised evenly over their estimated useful life of 4 years.

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Freehold buildings |  | 2% straight line basis |  |

| Leasehold buildings |  | 2% straight line basis |  |

| Plant and machinery |  | 10% / 25% straight line basis |  |

| Fixtures and fittings |  | 10% / 15% straight line basis |  |

| Motor vehicles |  | 25% straight line basis |  |

| Investments in subsidiaries

| Investment in the subsidiary company is held at cost less accumulated impairment losses.

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

QUORN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 03089071) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| (i) Financial assets

| Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

| Such assets are subsequently carried at amortised cost using the effective interest rate method.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

| Taxation

| The tax expense for the year comprises current and deferred tax.

| 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.

| 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.

| Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Operating leases

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| 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.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

| The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 101 (2024 - 109 ) .

QUORN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 03089071) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

4. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 13,568 |  |

| AMORTISATION

| At 1 January 2025 | 12,633 |  |

| Charge for year | 785 |  |

| At 31 December 2025 | 13,418 |  |

| NET BOOK VALUE

| At 31 December 2025 | 150 |  |

| At 31 December 2024 | 935 |  |

5. | TANGIBLE FIXED ASSETS

| Freehold |  | Fixtures |

| land & |  | Plant and |  | and |  | Motor |

| buildings |  | machinery |  | fittings |  | vehicles |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 January 2025 | 186,264 |  | 2,443,523 |  | 302,416 |  | 73,790 |  | 3,005,993 |  |

| Additions | - |  | 27,374 |  | 6,504 |  | 81,410 |  | 115,288 |  |

| Disposals | - |  | - |  | - |  | (73,790 | ) | (73,790 | ) |

| At 31 December 2025 | 186,264 |  | 2,470,897 |  | 308,920 |  | 81,410 |  | 3,047,491 |  |

| DEPRECIATION

| At 1 January 2025 | 9,700 |  | 2,081,420 |  | 287,341 |  | 49,193 |  | 2,427,654 |  |

| Charge for year | 3,620 |  | 91,949 |  | 12,570 |  | 20,035 |  | 128,174 |  |

| Eliminated on disposal | - |  | - |  | - |  | (52,268 | ) | (52,268 | ) |

| At 31 December 2025 | 13,320 |  | 2,173,369 |  | 299,911 |  | 16,960 |  | 2,503,560 |  |

| NET BOOK VALUE

| At 31 December 2025 | 172,944 |  | 297,528 |  | 9,009 |  | 64,450 |  | 543,931 |  |

| At 31 December 2024 | 176,564 |  | 362,103 |  | 15,075 |  | 24,597 |  | 578,339 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | - |  | 4,166 |  |

| Amounts owed by group undertakings | 3,101,394 |  | 2,771,095 |  |

| Other debtors | 17,376 |  | - |  |

| VAT | 128,263 |  | 138,978 |  |

| Prepayments | 103,483 |  | 98,899 |  |

3,350,516 |  | 3,013,138 |  |

QUORN COUNTRY FOODS LIMITED (REGISTERED NUMBER: 03089071) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts | 238,938 |  | 215,098 |  |

| Hire purchase contracts (see note 9) | - |  | 213 |  |

| Trade creditors | 792,432 |  | 737,859 |  |

| Amounts owed to group undertakings | 341,511 |  | 104,579 |  |

| Tax | 127,510 |  | 91,987 |  |

| Social security and other taxes | 53,684 |  | 41,865 |  |

| Other creditors | 23,164 |  | 19,805 |  |

| Accruals and deferred income | 289,833 |  | 176,527 |  |

| Deferred government grants | - |  | 16,766 |  |

1,867,072 |  | 1,404,699 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans - 1-2 years | 33,333 |  | 100,000 |  |

| Bank loans - 2-5 years | - |  | 33,336 |  |

33,333 |  | 133,336 |  |

9. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 213 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 226,868 |  | 244,118 |  |

| Between one and five years | 474,026 |  | 314,936 |  |

| In more than five years | 254,000 |  | 43,125 |  |

954,894 |  | 602,179 |  |

10. | RELATED PARTY DISCLOSURES

| At 31 December 2025, a net balance of £7 (2024 - £7) was due to FQF Holdings Limited. FQF Holdings Limited is a company under common ownership.

| At 31 December 2025. a net balance of £3,101,394 (2024 - £2,771,095) was due from Food Connections Limited. Food Connections Limited is a company under common ownership.

| 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.