The Greenfield Food Company Limited

	Page
Strategic Report	1
Directors' Report	2—4
Independent Auditor's Report	5—8
Profit and Loss Account	9
Statement of Comprehensive Income	10
Balance Sheet	11—12
Statement of Changes in Equity	13
Notes to the Financial Statements	14—29

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

Review of the Business

The directors are very pleased with the results for the period.

Sales for the 12 month period are £22,956,394 compared to the 15 month previous period of £26,833,620. The company has continued to expand its customer base. The business has traditionally grown by expanding on the customer base.

The results for the period show a profit on ordinary activities before taxation of £1,447,088485 (2025: £2,158,485 15 month period). After tax and dividends the company retained profits so that shareholders funds have increased by £447,511 (2025: £1,324,162 15 month period) during the period.

Principal Risks and Uncertainties

The directors do not consider that there are currently any principal risks or uncertainties affecting the business. The only potential threat is a change to government procurement policies, as a large percentage of income is generated from the public sector.

Key performance indicators

The directors monitor performance by tracking monthly sales, gross and net profits and operational cash flow. All key performance indicators provide positive results which the directors are happy with.

A key measure of performance is the gross profit ratio which has increased to 26.06% from 25.98% which the directors consider to be a good result.

On behalf of the board

Mr S Sutcliffe

Director

25/08/2026

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The Greenfield Food Company Limited

Company No. 06910931

Directors' Report For The Year Ended 31 March 2026

Directors' Report

The directors present their report and the financial statements for the year ended 31 March 2026.

Principal Activity

The company's principal activity continues to be that of a wholesale food company.

Dividends

The value of dividends paid amounted to £630,235 .

The directors recommended a final dividend of £NIL .

Financial Instruments

The company is subject to a number of financial risks, which are principally as follows:

Interest rate risk - the directors do not consider that the company is particularly exposed to fluctuations in interest rates as we have a low level of borrowings.

Foreign exchange risk - the directors do not consider the company is exposed to fluctuations in exchange rates as our suppliers and customers are UK based.

Credit risk - the company is exposed to credit risk from its customers and banking institutions. This risk is managed through application of the company's credit control policies. Cash balances are only deposited with those institutions that can demonstrate an appropriate level of creditworthiness.

Liquidity risk - the company is exposed to liquidity risk. The company's cash flow forecasting procedures are designed to ensure that the company will retain sufficient liquidity in order to discharge its obligations as they fall due.

Directors

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

Mr G Sutcliffe	Resigned	04/04/2025
Mrs L Sutcliffe	Resigned	04/04/2025
Mr S Sutcliffe
Mr M Sutcliffe	Appointed	04/04/2025

Research and Development

The company does not currently have any Research and Development activities.

Post Balance Sheet Events

There have been no important events occurring since the year end.

Future developments

There are no significant future developments planned.

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The Greenfield Food Company Limited

Directors' Report (continued)

For The Year Ended 31 March 2026

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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The Greenfield Food Company Limited

Directors' Report (continued)

For The Year Ended 31 March 2026

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.

Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium sized companies exemption.

On behalf of the board

Mr S Sutcliffe

Director

25/08/2026

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Independent Auditor's Report

to the Members of

The Greenfield Food Company Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of The Greenfield Food Company Limited for the year ended 31 March 2026 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity 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 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 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

The Greenfield Food Company 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 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 2—4, 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

The Greenfield Food Company Limited

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 and revenue recognition.

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

The Greenfield Food Company Limited

David Evans BA FCA (Senior Statutory Auditor)

for and on behalf of Bishops Audit Limited , Statutory Auditor

25/08/2026

Bishops Audit Limited

1 Croft Court, Plumpton Close

Whtehills Business Park

Blackpool

Lancashire

FY4 5PR

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The Greenfield Food Company Limited

Profit and Loss Account

For The Year Ended 31 March 2026

Profit and Loss Account

		31 March 2026	31 March 2025
	Notes	£	£
TURNOVER	3	22,956,394	26,833,620
Cost of sales		(16,974,101 )	(19,862,037 )

GROSS PROFIT		5,982,293	6,971,583

Administrative expenses		(4,540,906 )	(4,802,133 )
Other operating income		27,519	13,991

OPERATING PROFIT	5	1,468,906	2,183,441
Loss on disposal of fixed assets		-	(7,500 )
Other interest receivable and similar income	10	6,865	7,712
Interest payable and similar charges	11	(28,683 )	(25,168 )

PROFIT BEFORE TAXATION		1,447,088	2,158,485
Tax on Profit	12	(369,341 )	(559,581 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,077,747	1,598,904

The notes on pages 14 to 29 form part of these financial statements.

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The Greenfield Food Company Limited

Statement of Comprehensive Income

For The Year Ended 31 March 2026

Statement of Comprehensive Income

	31 March 2026	31 March 2025
	£	£
PROFIT FOR THE FINANCIAL YEAR	1,077,747	1,598,904
OTHER COMPREHENSIVE INCOME:
Gain on revaluation of property, plant and equipment	-	110,000

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	1,077,747	1,708,904

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The Greenfield Food Company Limited

Balance Sheet

As At 31 March 2026

Balance Sheet

Registered number: 06910931

		31 March 2026		31 March 2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	13		101,250		116,250
Tangible Assets	14		1,713,818		1,901,812

			1,815,068		2,018,062
CURRENT ASSETS
Stocks	15	962,255		957,398
Debtors	16	2,961,363		1,743,002
Cash at bank and in hand		2,328,705		3,281,770

		6,252,323		5,982,170
Creditors: Amounts Falling Due Within One Year	17	(2,739,139 )		(3,026,689 )

NET CURRENT ASSETS (LIABILITIES)			3,513,184		2,955,481

TOTAL ASSETS LESS CURRENT LIABILITIES			5,328,252		4,973,543

Creditors: Amounts Falling Due After More Than One Year	18		(177,591 )		(254,116 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	21		(90,377 )		(106,655 )

NET ASSETS			5,060,284		4,612,772

CAPITAL AND RESERVES
Called up share capital	23		300		300
Revaluation reserve			324,532		324,532
Profit and Loss Account			4,735,452		4,287,940

SHAREHOLDERS' FUNDS			5,060,284		4,612,772

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The Greenfield Food Company Limited

Balance Sheet (continued)

As At 31 March 2026

On behalf of the board

Mr S Sutcliffe

Director

25/08/2026

The notes on pages 14 to 29 form part of these financial statements.

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The Greenfield Food Company Limited

Statement of Changes in Equity

For The Year Ended 31 March 2026

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Profit and Loss Account	Total
	£	£	£	£
As at 1 January 2024	300	214,532	2,963,778	3,178,610
Profit for year	-	-	1,598,904	1,598,904

Surplus on revaluation	-	110,000	-	110,000

Other comprehensive income for the period	-	110,000	-	110,000

Total comprehensive income for the period	-	110,000	1,598,904	1,708,904

Dividends paid	-	-	(274,742)	(274,742)

As at 31 March 2025 and 1 April 2025	300	324,532	4,287,940	4,612,772


Profit for the year and total comprehensive income	-	-	1,077,747	1,077,747

Dividends paid	-	-	(630,235)	(630,235)

As at 31 March 2026	300	324,532	4,735,452	5,060,284

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The Greenfield Food Company Limited

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

The Greenfield Food Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06910931 . The registered office is Huncoat Industrial Estate, Newhouse Road, Accrington, Lancashire, BB5 6NT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and 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 for the 12-month period from 1 April 2025 to 31 March 2026. The comparative figures relate to the 15-month period ended 31 March 2025 and are therefore not directly comparable.

This change was made to better align the Company’s financial reporting period with the timing of its stock count.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

• Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’: Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

• Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

• Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Ewood Foods Holdings Limited. These consolidated financial statements are available from Companies House, Cardiff.

2.2. Going Concern Disclosure

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

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 estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Management review the stock to assess for obsolete or damaged items and will make appropriate provisions to reflect the estimated realisable value. The actual realisable value may be different.

Tangible fixed assets are depreciated over their estimated useful lives taking into account residual values, where appropriate. The actual useful lives and residual values may be different from those assessed by the management.

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

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

2.5. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 20 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	Revaluation model this year
Plant & Machinery	15% reducing balance basis
Motor Vehicles	25% reducing balance basis
Fixtures & Fittings	15% reducing balance basis
Computer Equipment	Straight line over 3 years

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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 is estimated to be less than its carrying amount, the carrying amount of the asset 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.

2.7. 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.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the weighted average method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.9. 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.

2.10. 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 basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

...CONTINUED

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.10. Financial Instruments - continued

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.11. 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.

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.

2.12. 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 of 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.

2.13. Pensions

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

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.14. 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.

3. Turnover

Analysis of turnover by class of business is as follows:

	31 March 2026	31 March 2025
	£	£
Activities as a wholesale food company	22,956,394	26,833,620

4. Other Operating Income

	31 March 2026	31 March 2025
	£	£
Grant income	3,282	5,549
Other operating income	24,237	8,442

	27,519	13,991

5. Operating Profit

The operating profit is stated after charging:

	31 March 2026	31 March 2025
	£	£
Bad debts	8,889	14,167
Operating lease rentals	52,214	141,407
Depreciation of tangible fixed assets	215,092	230,187
Amortisation of intangible fixed assets	15,000	18,750

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Auditor's Remuneration

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

	31 March 2026	31 March 2025
	£	£
Audit Services
Audit of the company's financial statements	22,000	22,000

7. Staff Costs

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

	31 March 2026	31 March 2025
	£	£
Wages and salaries	2,483,641	2,484,018
Social security costs	286,792	226,275
Other pension costs	46,578	45,059

	2,817,011	2,755,352

8. Average Number of Employees

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

	31 March 2026	31 March 2025
Office and administration	8	8
Sales, marketing and distribution	75	62

	83	70

9. Directors' remuneration

	31 March 2026	31 March 2025
	£	£
Emoluments	61,670	47,862
Company contributions to money purchase pension schemes	1,258	-

	62,928	47,862

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

	31 March 2026		31 March 2025
Money purchase pension schemes	1		-

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Interest Receivable and Similar Income

	31 March 2026	31 March 2025
	£	£
Bank interest receivable	6,865	6,547
Other interest receivable	-	1,165

	6,865	7,712

11. Interest Payable and Similar Charges

	31 March 2026	31 March 2025
	£	£
Bank loans and overdrafts	-	8,520
Finance charges payable under finance leases and hire purchase contracts	27,926	16,648
Late payment tax charges	757	-

	28,683	25,168

12. Tax on Profit

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

	Tax Rate		31 March 2026	31 March 2025
	31 March 2026	31 March 2025	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	385,619	556,795
Deferred Tax
Deferred taxation			(16,278 )	2,786


Total tax charge for the period			369,341	559,581

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:

	31 March 2026	31 March 2025
	£	£
Profit before tax	1,447,088	2,158,485

Tax on profit at 25% (UK standard rate)	361,772	539,621

...CONTINUED

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Goodwill/depreciation not allowed for tax	3,750	4,687
Expenses not deductible for tax purposes	10,742	12,963
Short term timing differences	9,132	2,310
Group relief	(16,055 )	-

Total tax charge for the period	369,341	559,581

13. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	300,000

As at 31 March 2026	300,000

Amortisation
As at 1 April 2025	183,750
Provided during the period	15,000

As at 31 March 2026	198,750

Net Book Value
As at 31 March 2026	101,250

As at 1 April 2025	116,250

14. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2025	860,000	260,557	1,284,617	939,954
Additions	-	6,797	18,048	1,697

As at 31 March 2026	860,000	267,354	1,302,665	941,651

Depreciation
As at 1 April 2025	-	121,177	739,040	589,548
Provided during the period	-	21,448	138,650	52,795

As at 31 March 2026	-	142,625	877,690	642,343

Net Book Value
As at 31 March 2026	860,000	124,729	424,975	299,308

As at 1 April 2025	860,000	139,380	545,577	350,406

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2025	41,793	3,386,921
Additions	556	27,098

As at 31 March 2026	42,349	3,414,019

Depreciation
As at 1 April 2025	35,344	1,485,109
Provided during the period	2,199	215,092

As at 31 March 2026	37,543	1,700,201

Net Book Value
As at 31 March 2026	4,806	1,713,818

As at 1 April 2025	6,449	1,901,812

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

	31 March 2026	31 March 2025
	£	£
Fixtures & Fittings	-	95,645
Motor Vehicles	305,511	430,252

	305,511	525,897

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Cost or valuation as at 31 March 2026 represented by:

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
At cost	676,916	267,354	1,302,665	941,651
At valuation	183,084	-	-	-

	860,000	267,354	1,302,665	941,651


	Computer Equipment	Total
	£	£
At cost	42,349	3,230,935
At valuation	-	183,084

	42,349	3,414,019

Land and buildings with a carrying amount of £860,000 were revalued in September 2024 by Duxburys Commercial, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The revaluation surplus is disclosed in the accounts.

If the following tangible fixed assets had been accounted for under historical cost accounting rules, the amounts would be:

	Land & Property
	Freehold
	£
Cost	676,916
Accumulated depreciation and impairment	188,830

Carrying amount	488,086

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

15. Stocks

	31 March 2026	31 March 2025
	£	£
Finished goods	962,255	957,398

16. Debtors

	31 March 2026	31 March 2025
	£	£
Due within one year
Trade debtors	1,462,752	1,431,115
Prepayments and accrued income	123,821	81,929
Other debtors	200	206,252
VAT	63,050	23,706
Amounts owed by group undertakings	1,311,540	-

	2,961,363	1,743,002

17. Creditors: Amounts Falling Due Within One Year

	31 March 2026	31 March 2025
	£	£
Net obligations under finance lease and hire purchase contracts	99,737	200,385
Trade creditors	2,026,959	1,781,718
Bank loans and overdrafts	-	58,334
Other creditors	86,989	3,095
Corporation tax	85,619	556,795
Taxation and social security	84,152	43,750
Accruals and deferred income	355,683	382,612

	2,739,139	3,026,689

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

	31 March 2026	31 March 2025
	£	£
Net obligations under finance lease and hire purchase contracts	177,591	254,116

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

Of the creditors the following amounts are secured.

	31 March 2026	31 March 2025
	£	£
Net obligations under finance lease and hire purchase contracts	277,328	454,501
Bank loans and overdrafts	-	58,334

Hire purchase liabilities are secured against the assets that they relate to.

19. Loans

An analysis of the maturity of loans is given below:

	31 March 2026	31 March 2025
	£	£
Amounts falling due within one year or on demand:
Bank loans	-	58,334

20. Obligations Under Finance Leases and Hire Purchase

	31 March 2026	31 March 2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	99,737	200,385
Later than one year and not later than five years	177,591	254,116

	277,328	454,501

	277,328	454,501

21. Deferred Taxation

The provision for deferred tax is made up as follows:

	31 March 2026	31 March 2025
	£	£
Accelerated capital allowances	90,377	106,655

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

22. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2025	106,655	106,655
Utilised	(16,278 )	(16,278)

Balance at 31 March 2026	90,377	90,377

23. Share Capital

	31 March 2026	31 March 2025
Allotted, called up and fully paid	£	£
300 Ordinary Shares of £ 1.00 each	300	300

24. Other Commitments

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

	31 March 2026	31 March 2025
	£	£
Not later than one year	84,400	84,400
Later than one year and not later than five years	253,200	337,600

	337,600	422,000

25. 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 £46,578 (2025: £45,059).

At the balance sheet date contributions of £4,820 (2025: £0) were due to the fund and are included in creditors.

26. Dividends

	31 March 2026	31 March 2025
	£	£
On equity shares:
Interim dividend paid	630,235	274,742

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The Greenfield Food Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

27. Controlling Parties

The company's immediate parent undertaking is Ewood Foods Holdings Limited .

The ultimate parent undertaking is Ewood Foods Holdings Limited (incorporated in England & Wales). Its registered office is Huncoat Industrial Estate, Newhouse Road, Accrington, Lancashire, BB56NT .

Copies of the group accounts may be obtained from the company's registered office.

Page 29