Bryan's Salads Ltd.

	Page
Company Information	1
Strategic Report	2—3
Directors' Report	4—7
Independent Auditor's Report	8—11
Profit and Loss Account	12
Statement of Comprehensive Income	13
Balance Sheet	14—15
Statement of Changes in Equity	16
Cash Flow Statement	17
Notes to the Cash Flow Statement	18
Notes to the Financial Statements	19—33

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Bryan's Salads Ltd.

Strategic Report

For The Year Ended 30 November 2025

Strategic Report

The directors present their strategic report for the year ended 30 November 2025.

Review of the Business

The directors were very pleased with the results for 2025.

The trading results are shown on page 12 and show a profit before tax of £2,410,425 (2024: £2,897,200).

Although total sales were down from £56,620,159 to £54,439,457 the gross profit margin remained acceptable despite a decrease from 9.64% to 9.15%.

The reduction in turnover was only 3.9%.

The company continues to have a strong balance sheet with shareholders funds totaling £11,518,748 (2024 - £9,824,956) and a healthy increase in net current assets which stood at £7,582,116 compared with £6,728,655 at the previous year end.

Principal Risks and Uncertainties

The company continues to be aware of the possible impact of a number of global actions which have been out of our control. The main ones being the continuing war in the Ukraine and the war in Iran which continue to place pressures on our electricity costs.

Fertiliser on our farm has also continued to be impacted with prices continuing to be higher than in previous years.

The pressures on other fuel and power costs through agricultural diesel used in the tractors and on the farm, road diesel used by hauliers and gas used by suppliers all continue to be a concern.

Each year we are also impacted by a minimum wage rise which has to be passed on to all staff not just those at the minimum wage level.

As an employer we have no control on any of the above increases which clearly can put a strain on our activities.

Development and performance

As stated above the directors are satisfied with the development and performance of the company during the year. Despite the marginal decline in turnover and slightly reduced margins the directors expect that the policies introduced will enable the margin to be maintained.

Key performance indicators

The directors actively monitor sales and gross margins as the key indicators to enable them to assess the performance of the business. They also have concern for the cash available to the business to meet the demands of the business as they arise. The increase in available cash in the year is a reflection of the improvement in the operation of the business.

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Bryan's Salads Ltd.

Strategic Report (continued)

For The Year Ended 30 November 2025

Section 172(1) Statement

Promoting the success of the company

Employee involvement

The directors recognise that the workforce is the most valuable asset of the business in order to achieve the growth desired and maintain the reputation of the business . They therefore consider that the health and safety of the workforce is a primary concern in the way that the business is managed and encourage safe working practices.

The company has a diverse and inclusive workforce and remains committed to offering opportunities to all staff. In particular, as part of the food manufacturing sector and with a high level of migrant workers the organisation recognises that it has a responsibility to take a robust approach to the possibility of acts of slavery and human trafficking both within the business itself and the supply chain.

With this in mind the company recruits workers directly and is committed to preventing modern slavery and human trafficking in its corporate activities and seeks to ensure that the supply chains are also free from modern slavery human trafficking.

Relationships with suppliers and customers

The directors recognise the importance of good and lasting relations with both customers and suppliers.

The company is keen to offer excellent customer service together with quality products to benefit all within the supply chain and the community in which the company operates.

The company is committed to trading ethically with its supply chain partners.

Community and environment

The directors value the position that the company has in its local community and they seek to ensure that the company's activities do not adversely affect its neighbours. The company operates in a responsible fashion recognising the importance of maintaining good local relationships.

On behalf of the board

Mr Robert Bryan

Director

27/08/2026

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Bryan's Salads Ltd.

Company No. 04093925

Directors' Report For The Year Ended 30 November 2025

Directors' Report

The directors present their report and the financial statements for the year ended 30 November 2025.

Principal Activity

The company's principal activity continues to be that of the growing, packaging and marketing of salad produce.

Directors

The directors who held office during the year were as follows:

Mr Robert Bryan

Mr George Bryan

Mr Joe Bryan

Mr Jonathan Bragg

Mr Samuel Bryan

Mr Matthew Bryan

Mrs Rachel Bryan

Employees

The company's policy is to consult and discuss with employees as appropriate any matters likely to affect employees' interests.

Information about matters of concern to employees is provided in ways considered appropriate to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Company

The directors are conscious of the need to establish good working relationships with suppliers and customers alike in order to maintain the good standing of the business. The directors are mindful of the issues affecting the supply chain of which it is a part and endeavour to ensure that where possible all deadlines are met.

Streamlined Energy and Carbon Reporting

As the company has consumed more than 40,000 kWh of energy in this reporting period, it does not qualify as a low energy user under these regulations and is therefore required to report on its emissions, energy consumption or energy efficiency activities.

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Bryan's Salads Ltd.

Directors' Report (continued)

For The Year Ended 30 November 2025

Energy consumption	2025	2024
	kWh	kWh
Electricity purchased	3,224,144	3,196,308
Fuel consumption for transportation		9,294

	3,224,144	3,205,605

	2025	2024
Emission of CO2 equivalent	metric tonnes	metric tonnes
Scope 1 - direct emissions
Fuel consumption for owned transport		270.50
Scope 2 - indirect emissions
Electricity purchased	667.60	1322.35
Scope 3 - other indirect emissions
Fuel consumption for transport not owned by the company
Total gross emissions	667.60	1592.85
Intensity ratio Tonnes CO2e per full- time employee	1.95	4.55

We have followed the 2019 HM Government Environmental Reporting Guidelines. We have also used the GHG Reporting Protocol – Corporate Standard and have used the 2020 UK Government’s Conversion Factors for Company Reporting.

The data quality and completeness is ensured by:

All electricity invoices have been entered into a fully managed energy database covering the reporting period, allowing data quality checks to be carried out for completeness and accuracy.

All transport information has also been entered into this energy database up to the reporting period end. No gas data is required as the company does not consume any gas.

All Scope 1 mobile combustion emissions have been recorded using quantity of fuel consumed by vehicles. This is high quality data for calculating the Scope 1 footprint.

Carbon intensity metrics have been calculated using the 2022-2023 reportable figures for tCO2e per full-time equivalent employee. Total emissions were then divided by this figure to determine the tCO2e metric.

Primary data for Scope 1 was provided as approximate Litres of fuel consumption for red diesel and white derv.

Primary data for Scope 2 emissions was provided by the company as kWh electricity consumption supported by invoices. Despite procuring a 100% renewable tariff, REGO certificates were not available. The disclosure is therefore made using only the Location-Based method.

There was no activity reportable for Scope 3 in the year.

...CONTINUED

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Bryan's Salads Ltd.

Directors' Report (continued)

For The Year Ended 30 November 2025

Streamlined Energy and Carbon Reporting - continued

The company is always seeking ways to minimise energy consumption and the use of energy saving efficiencies was a consideration in the design of the new facilities on the company's main site.

The company has continued to be mindful of energy saving initiatives and new developments are undertaken with energy reducing plans incorporated.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

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Bryan's Salads Ltd.

Directors' Report (continued)

For The Year Ended 30 November 2025

Independent Auditors

The auditors, Bishops Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Robert Bryan

Director

27/08/2026

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Independent Auditor's Report

to the Members of

Bryan's Salads Ltd.

Independent Auditor's Report

Opinion

We have audited the financial statements of Bryan's Salads Ltd. for the year ended 30 November 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement and the related notes, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 November 2025 and of its profit/(loss) 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 Auditor's 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 entity's ability to continue as a going concern for a period of at least 12 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 other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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.

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Independent Auditor's Report (continued)

to the Members of

Bryan's Salads Ltd.

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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report 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 Directors' Report.

We have nothing to report in respect of the following matters in relation to which 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 or 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 Directors' Responsibilities Statement set out on page 4—7, 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 is 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.

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Independent Auditor's Report (continued)

to the Members of

Bryan's Salads Ltd.

Auditor's 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 an auditor's report 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:

Based on our understanding of the company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but was not limited to, the Companies Act 2006 and the UK tax legislation and we considered the extent to which non-compliance might have a material effect on the financial statements.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements, revenue recognition, going concern and the carrying value of the assets.

Our procedures to respond to risks identified included the following:

• enquiry of management and those charged with governance around actual and potential litigation and claims.

• reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations.

• performing analytical procedures to identify any unusual or unexplained relationships that may indicate risks of material misstatement due to fraud.

• auditing the risk of management override of controls, including the testing of journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business.

We also communicated relevant laws and regulations and potential fraud risks to all engagement team members including internal specialists and remained alert to any indication of fraud or non-compliance with laws and regulations throughout the audit.

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 www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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 that we are required to state to them in an auditor's report 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.

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Independent Auditor's Report (continued)

to the Members of

Bryan's Salads Ltd.

David Evans BA FCA (Senior Statutory Auditor)

for and on behalf of Bishops Audit Limited , Statutory Auditor

27/08/2026

Bishops Audit Limited

1 Croft Court, Plumpton Close

Whtehills Business Park

Blackpool

Lancashire

FY4 5PR

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Bryan's Salads Ltd.

Profit and Loss Account

For The Year Ended 30 November 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	54,439,457	56,620,159
Cost of sales		(49,461,134 )	(51,163,951 )

GROSS PROFIT		4,978,323	5,456,208

Administrative expenses		(2,819,092 )	(2,704,133 )
Other operating income		272,839	228,599
Fair value gains on investment properties		38,000	8,000

OPERATING PROFIT	5	2,470,070	2,988,674
Profit on disposal of fixed assets		1,099	14,756
Other interest receivable and similar income	10	46,080	26,474
Interest payable and similar charges	11	(106,824 )	(132,704 )

PROFIT BEFORE TAXATION		2,410,425	2,897,200
Tax on Profit	12	(716,273 )	(721,461 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,694,152	2,175,739

The notes on pages 18 to 33 form part of these financial statements.

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Bryan's Salads Ltd.

Statement of Comprehensive Income

For The Year Ended 30 November 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	1,694,152	2,175,739
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	1,694,152	2,175,739

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Bryan's Salads Ltd.

Balance Sheet

As At 30 November 2025

Balance Sheet

Registered number: 04093925

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	14		5,203,153		4,556,765
Investment Properties	15		242,000		204,000
Investments	16		2,969		2,969

			5,448,122		4,763,734
CURRENT ASSETS
Stocks	17	1,729,016		1,569,831
Debtors	18	8,574,853		8,621,911
Cash at bank and in hand		4,157,942		3,543,292

		14,461,811		13,735,034
Creditors: Amounts Falling Due Within One Year	19	(6,880,685 )		(7,007,368 )

NET CURRENT ASSETS (LIABILITIES)			7,581,126		6,727,666

TOTAL ASSETS LESS CURRENT LIABILITIES			13,029,248		11,491,400

Creditors: Amounts Falling Due After More Than One Year	20		(919,150 )		(1,223,355 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	23		(591,350 )		(443,449 )

NET ASSETS			11,518,748		9,824,596

CAPITAL AND RESERVES
Called up share capital	25		1,000		1,000
Fair value reserve			79,244		50,744
Profit and Loss Account			11,438,504		9,772,852

SHAREHOLDERS' FUNDS			11,518,748		9,824,596

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Bryan's Salads Ltd.

Balance Sheet (continued)

As At 30 November 2025

On behalf of the board

Mr Robert Bryan

Director

27/08/2026

The notes on pages 18 to 33 form part of these financial statements.

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Bryan's Salads Ltd.

Statement of Changes in Equity

For The Year Ended 30 November 2025

Statement of Changes in Equity

	Share Capital	Fair value reserve	Profit and Loss Account	Total
	£	£	£	£
As at 1 December 2023	1,000	50,744	7,597,113	7,648,857
Profit for the year and total comprehensive income	-	-	2,175,739	2,175,739

As at 30 November 2024 and 1 December 2024	1,000	50,744	9,772,852	9,824,596


Profit for the year and total comprehensive income	-	-	1,694,152	1,694,152

Movements in fair value reserve	-	28,500	-	28,500
Transfer to/from Fair value reserve	-	-	(28,500)	(28,500)

As at 30 November 2025	1,000	79,244	11,438,504	11,518,748

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Bryan's Salads Ltd.

Cash Flow Statement

For The Year Ended 30 November 2025

Cash Flow Statement

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	3,004,415	2,416,371
Interest paid		(106,824 )	(132,704 )
Tax paid		(636,276 )	(4,697 )

Net cash generated from operating activities		2,261,315	2,278,970

Cash flows from investing activities
Purchase of tangible assets		(1,167,449 )	(465,583 )
Proceeds from disposal of tangible assets		3,000	75,185
Grants received		6,153	-
Interest received		46,080	26,474

Net cash used in investing activities		(1,112,216 )	(363,924 )

Cash flows from financing activities
Repayment of bank borrowings		(290,411 )	(287,047 )
Repayment of finance leases		(66,501 )	(52,655 )
Amount withdrawn by directors		(177,537)	(108,469)

Net cash used in financing activities		(534,449 )	(448,171 )



Increase in cash and cash equivalents		614,650	1,466,875
Cash and cash equivalents at beginning of year	2	3,543,292	2,076,417

Cash and cash equivalents at end of year	2	4,157,942	3,543,292

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Bryan's Salads Ltd.

Notes to the Cash Flow Statement

For The Year Ended 30 November 2025

Notes to the Cash Flow Statement

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	1,694,152	2,175,739
Adjustments for:
Tax on profit	716,273	721,461
Interest expense	106,824	132,704
Interest income	(46,080 )	(26,474 )
Depreciation of tangible assets	594,993	566,085
Profit on disposal of tangible assets	(1,099)	(14,756)
Net fair value gains recognised in profit or loss	(38,000)	(8,000)
Grant income	(6,153)	-
Movements in working capital:
Increase in stocks	(159,185 )	(39,126 )
Decrease/(increase) in trade and other debtors	256,001	(530,823 )
Decrease in trade and other creditors	(113,311 )	(560,439 )

Net cash generated from operations	3,004,415	2,416,371

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	4,157,942	3,543,292

3. Analysis of changes in net funds

	As at 1 December 2024	Cash flows	New finance leases	As at 30 November 2025
	£	£	£	£
Cash at bank and in hand	3,543,292	614,650	-	4,157,942
Finance leases	(97,223)	66,501	(75,833)	(106,555)
Debts falling due within one year	(291,446 )	2,874	-	(288,572 )
Debts falling due after more than one year	(1,169,788)	287,537	-	(882,251)

	1,984,835	971,562	(75,833)	2,880,564

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Bryan's Salads Ltd.

Notes to the Financial Statements

For The Year Ended 30 November 2025

Notes to the Financial Statements

1. General Information

Bryan's Salads Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 04093925 . The registered office is Poplars, Gorse Lane, Tarleton, Preston, Lancashire, PR4 6LJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The 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 are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting poliicies are set out below.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. The key estimate relates to the residual value and useful lives of fixed assets.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Revenue from the sale of goods 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.

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the costs or valuation of assets less their residual values over the useful lives on the followiing bases:

Software 5 years

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Land and Property	1% on cost
Leasehold Improvements	10% on cost
Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Fixtures & Fittings	33% on cost
Glasshouses and Access Road	10% reducing balance

Included in the cost of freehold and land and property is freehold land of £295,290 (2024 : £295,290) that is not depreciated.

2.7. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.8. Investments

Other investments are initially recognised at cost and subsequently measured at fair value at the reporting end date. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

2.9. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.10. Stocks and Work in Progress

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell on a first in first out basis. 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 the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

2.11. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.12. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net

2.13. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.14. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.14. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.15. 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.

2.16. Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.17. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.18. Trust

The company has created a trust whose beneficiaries will include employees of the company and their dependants. Assets held under this trust will be controlled by trustees who will be acting independently and entirely at their own discretion. Where assets are held in the trust and these are considered by the company to be in respect of services already provided by the employees to the company, the company will account for these as assets of the company until the earlier of it no longer having de facto control of these assets and it not obtaining future economic benefits from these assets. The value transferred will be charges in the company's income statement for the year to which it relates.

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.19. Impairment of Fixed Assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

3. Turnover

Analysis of turnover by class of business is as follows:

	2025	2024
	£	£
Sale of goods	54,439,457	56,620,159

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	54,439,457	56,620,159

	54,439,457	56,620,159

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

4. Other Operating Income

	2025	2024
	£	£
Grant income	2,145	699
Rental income	254,452	227,900
Other operating income	16,242	-

	272,839	228,599

5. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Bad debts	-	32,694
Operating lease rentals	199,063	164,770
Exchange differences	186,730	46,456
Depreciation of tangible fixed assets - owned	537,782	543,474
Depreciation of tangible fixed assets - finance leases and hire purchase contracts	57,211	22,611

6. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	18,000	17,787

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	10,523,187	10,096,934
Social security costs	1,193,039	934,941
Other pension costs	165,138	137,698

	11,881,364	11,169,573

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

8. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	6	6
Manufacturing	327	337

	333	343

9. Directors' remuneration

	2025	2024
	£	£
Emoluments	414,175	389,898
Company contributions to money purchase pension schemes	81,041	48,156

	495,216	438,054

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

	2025		2024
Money purchase pension schemes	6		6

Information regarding the highest paid director was as follows:

	2025	2024
	£	£
Emoluments	120,140	119,736
Company contributions to money purchase pension schemes	73,334	40,000

	193,474	159,736

10. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	34,511	21,842
Other interest receivable	11,569	4,632

	46,080	26,474

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

11. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	95,154	130,356
Finance charges payable under finance leases and hire purchase contracts	989	2,348
Other finance charges	10,681	-

	106,824	132,704

12. Tax on Profit

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

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	475,571	736,234
Prior period adjustment			92,801	-

			568,372	736,234
Deferred Tax
Deferred taxation			147,901	(14,773 )


Total tax charge for the period			716,273	721,461

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2025	2024
	£	£
Profit before tax	2,410,425	2,897,200

Tax on profit at 25% (UK standard rate)	602,606	724,300
Goodwill/depreciation not allowed for tax	5,780	8,721
Expenses not deductible for tax purposes	4,669	4,510
Short term timing differences	10,417	(9,365 )
Prior period adjustment	92,801	-
Deferred tax from unrecognised timing difference from a prior period	-	(6,705 )

Total tax charge for the period	716,273	721,461

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

13. Intangible Assets

	Software
	£
Cost
As at 1 December 2024	14,085

As at 30 November 2025	14,085

Amortisation
As at 1 December 2024	14,085

As at 30 November 2025	14,085

Net Book Value
As at 30 November 2025	-

As at 1 December 2024	-

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

14. Tangible Assets

	Land & Property
	Freehold Land and Property	Leasehold Improvements	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost or Valuation
As at 1 December 2024	2,593,118	121,900	8,290,019	302,790
Additions	203,507	-	995,201	10,500
Disposals	-	-	(11,800 )	-

As at 30 November 2025	2,796,625	121,900	9,273,420	313,290

Depreciation
As at 1 December 2024	203,869	117,457	6,283,860	160,505
Provided during the period	24,151	4,443	514,869	38,195
Disposals	-	-	(9,899 )	-

As at 30 November 2025	228,020	121,900	6,788,830	198,700

Net Book Value
As at 30 November 2025	2,568,605	-	2,484,590	114,590

As at 1 December 2024	2,389,249	4,443	2,006,159	142,285


	Fixtures & Fittings	Glasshouses and Access Road	Total
	£	£	£
Cost or Valuation
As at 1 December 2024	282,930	48,775	11,639,532
Additions	34,074	-	1,243,282
Disposals	-	-	(11,800 )

As at 30 November 2025	317,004	48,775	12,871,014

Depreciation
As at 1 December 2024	273,447	43,629	7,082,767
Provided during the period	12,819	516	594,993
Disposals	-	-	(9,899 )

As at 30 November 2025	286,266	44,145	7,667,861

Net Book Value
As at 30 November 2025	30,738	4,630	5,203,153

As at 1 December 2024	9,483	5,146	4,556,765

Page 28

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Plant & Machinery	161,012	216,435
Motor Vehicles	50,875	67,834

	211,887	284,269

15. Investment Property

	2025
	£
Fair Value
As at 1 December 2024	204,000
Revaluations	38,000

As at 30 November 2025	242,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2025	2024
	£	£
Cost	143,686	143,686

Investment property comprises £242,000. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 30 November 2025 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

16. Investments

	Other
	£
Cost or Valuation
As at 1 December 2024	2,969

As at 30 November 2025	2,969

Provision
As at 1 December 2024	-

As at 30 November 2025	-

Net Book Value
As at 30 November 2025	2,969

As at 1 December 2024	2,969

Page 29

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

17. Stocks

	2025	2024
	£	£
Raw materials and consumables	1,729,016	1,569,831

18. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	7,012,777	7,113,052
Prepayments and accrued income	463,247	407,934
Other debtors	388,922	364,745
Corporation tax recoverable assets	192,758	126,753
VAT	228,959	464,175
Directors' loan accounts	288,190	145,252

	8,574,853	8,621,911

19. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	69,656	43,656
Trade creditors	4,909,978	4,998,434
Bank loans and overdrafts	288,572	291,446
Other creditors	241,607	265,731
Corporation tax	556,478	558,377
Taxation and social security	294,475	241,497
Accruals and deferred income	519,919	608,227

	6,880,685	7,007,368

20. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	36,899	53,567
Bank loans	882,251	1,169,788

	919,150	1,223,355

Of the creditors falling due after more than one year the following amounts are due after more than five years.

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

	2025		2024
	£		£
Bank loans	577,965		599,006

Of the creditors the following amounts are secured.

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	106,556	97,223
Bank loans and overdrafts	1,170,823	1,461,234

21. Loans

The bank loans are repayable monthly by instalments. At the balance sheet date there were 3 bank loans with different repayment dates and interest rates as follows:

£71,796 - repayment date March 2031 (interest rate base plus 1.95%)

£674,026 - repayment date March 2041 (interest rate base plus 1.95%)

£425,000 - repayment date July 2027 (interest rate 3.62%)

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	288,572	291,446

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	304,286	570,782

	2025	2024
	£	£
Amounts falling due after more than five years:
Bank loans	577,965	599,006

22. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	69,656	43,656
Later than one year and not later than five years	38,383	56,040

	108,039	99,696
Less: Finance charges allocated to future periods	1,484	2,473

	106,555	97,223

Page 31

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

23. Deferred Taxation

	2025	2024
	£	£
Other timing differences	591,350	443,449

24. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 December 2024	443,449	443,449
Additions	147,901	147,901

Balance at 30 November 2025	591,350	591,350

25. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1,000 Ordinary Shares of £ 1.00 each	1,000	1,000

26. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	24,270	42,667
Later than one year and not later than five years	13,758	54,556

	38,028	97,223

27. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £165,138 (2024: £137,698).

At the balance sheet date contributions of £19,640 (2024: £17,830) were due to the fund and are included in creditors.

Page 32

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Bryan's Salads Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

28. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

During the year advances of £142,937 were made to the directors of the company. Director's overdrawn loans are unsecured and repayable on demand. Interest is charged at the beneficial loan rate % in force up to 5 April 2025 and are interest free thereafter. The balance outstanding at the year end was £288,190 (2024 - £145,253).

29. Post Balance Sheet Events

In April 2026, a share redesignation has taken place to split the ordinary shares into more categories of ordinary shares. The total number of shares and the value of called up share capital remains unchanged.

30. Related Party Disclosures

During the year rent of £164,770 (2024 - £164,770) was paid to Bryan's Salads Ltd (2001) Pension Fund. Mr and Mrs Bryan, directors of the company, are trustees of the Pension Fund. There was an amount owing to the Pension Fund at the year end of £74,012 (2024 - £90,022).

Included in debtors is an an amount of £101,193 owed by Mrs A Leadbetter at 30 November 2025 (2024: £96,250). Mrs Leadbetter is a shareholder of the company.

Page 33