REGISTERED NUMBER: 11116748 (England and Wales)

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2025 TO 31 MARCH 2026

FOR

MONTYREDMAN HOLDINGS LIMITED

Page

Company Information

1

Group Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Consolidated Statement of Comprehensive Income

9

Consolidated Balance Sheet

11

Company Balance Sheet

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Consolidated Cash Flow Statement

15

Notes to the Consolidated Cash Flow Statement

16

Notes to the Consolidated Financial Statements

18

DIRECTORS:

C D Johnson

Mrs G Johnson

R D Johnson

Mrs E Johnson

SECRETARY:

Mrs G Johnson

REGISTERED OFFICE:

Water Mill Lodge

Priestgate

Nafferton

Driffield

East Yorkshire

YO25 4LR

REGISTERED NUMBER:

11116748 (England and Wales)

AUDITORS:

BCO Accountants LLP

Chartered Certified Accountants

and Statutory Auditors

Driffield

The directors present their strategic report of the company and the group for the period 1 January 2025 to 31 March 2026.

REVIEW OF BUSINESS

The key financial highlights are as follows:

2026

2024

2023

2022

£

£

£

£

Turnover

12,596

16,884

15,971

13,427

Profit before tax

5,959

2,076

1,620

1,215

Net assets

16,354

11,174

9,849

8,761

The directors consider the Group results for the period to be satisfactory, taking into consideration the disposal of the subsidiary undertaking during the period.

PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks for the group are raw material supplies and costs, compliance with food safety standards and competition in the retail market and food service sectors.

KEY PERFORMANCE INDICATORS

2026

2024

2023

2022

Growth in Revenue

(25)%

6%

19%

26%

Gross Profit Margin

28%

29%

27%

25%

Net Profit Margin

9%

12%

10%

9%

FUTURE DEVELOPMENTS

Following the disposal of its subsidiary undertaking, the parent company will continue to grow its investments in both property and listed investments.

FINANCIAL INSTRUMENTS

The group's principal financial instruments comprise of bank balances, bank overdrafts and trade creditors. The main purpose of these instruments is to raise funds and finance for the group's operations.

Due to the nature of the financial instruments used by the group there is limited exposure to price risk. The group's approach to managing other risks applicable to the financial instruments is shown below.

In respect of bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet the amounts due.

ON BEHALF OF THE BOARD:

R D Johnson - Director

24 August 2026

The directors present their report with the financial statements of the company and the group for the period 1 January 2025 to 31 March 2026.

PRINCIPAL ACTIVITY

The principal activity of the group in the period under review was that of speciality food wholesaler.

DIVIDENDS

Interim dividends of £263,628 were paid on the ordinary £1 shares. The directors recommend that no final dividend be paid on these shares.

The total distribution of dividends for the period ended 31 March 2026 will be £263,628 (31 December 2024 - £236,096).

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

C D Johnson

Mrs G Johnson

R D Johnson

Other changes in directors holding office are as follows:

Mrs E Johnson - appointed 1 July 2025

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Schedule 7 of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 to be contained in the directors' report. It has done so in respect of future developments and financial instruments.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors, BCO Accountants LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

R D Johnson - Director

24 August 2026

Opinion

We have audited the financial statements of Montyredman Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 March 2026 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2026 and of the group's profit for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

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

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

Matters on which we are required to report by exception

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

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

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

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

In preparing the financial statements, the directors are responsible for assessing the group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

We obtained an understanding of the legal and regulatory frameworks that are applicable to the group and determined that the most significant are those that relate to:

- Financial Reporting Standard 102

- Companies Act 2006

- health and safety

- food hygiene

We assessed the risks of material misstatement in respect of fraud through discussions with directors.

Based on the results of our risk assessment we designed our audit procedures to identify non-compliance with such laws and regulations identified above. Enquiries were made of management and we corroborated our enquiries by reviewing the company's health and safety manual and external food hygiene audit reports.

We considered the risk of fraud through management override and, in response, we incorporated testing of manual journal entries throughout the year into our audit approach.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud. We considered the risk of fraud to be low. Accounting policies were reviewed and an element of unpredictability was included in our audit procedures.

We consider that the nature, timing and extent of audit procedures performed increases the likelihood of detection of any irregularities.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Jayne Lyon FCCA (Senior Statutory Auditor)

for and on behalf of BCO Accountants LLP

Chartered Certified Accountants

and Statutory Auditors

Driffield

9 September 2026

TURNOVER

3

-

12,596,145

12,596,145

Cost of sales

-

(9,026,480

)

(9,026,480

)

GROSS PROFIT

-

3,569,665

3,569,665

Administrative expenses

(370,284

)

(2,537,907

)

(2,908,191

)

(370,284

)

1,031,758

661,474

Other operating income

4

126,928

7,340

134,268

OPERATING (LOSS)/PROFIT

6

(243,356

)

1,039,098

795,742

Profit on disposal of subsidiary undertaking

7

4,783,405

-

4,783,405

4,540,049

1,039,098

5,579,147

Income from fixed asset investments

18,446

-

18,446

Interest receivable and similar income

311,213

62,066

373,279

Gain/loss on revaluation of assets

(11,534

)

-

(11,534

)

PROFIT BEFORE TAXATION

4,858,174

1,101,164

5,959,338

Tax on profit

8

(117,887

)

(253,286

)

(371,173

)

PROFIT FOR THE FINANCIAL PERIOD

4,740,287

847,878

5,588,165

OTHER COMPREHENSIVE INCOME

Gain/(loss) on revaluation of investment

(144,784

)

Income tax relating to other comprehensive income

-

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

(144,784

)

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

5,443,381

Profit attributable to:

Owners of the parent

5,588,165

Total comprehensive income attributable to:

Owners of the parent

5,443,381

TURNOVER

3

16,884,020

-

16,884,020

Cost of sales

(11,928,490

)

-

(11,928,490

)

GROSS PROFIT

4,955,530

-

4,955,530

Administrative expenses

(3,278,989

)

-

(3,278,989

)

1,676,541

-

1,676,541

Other operating income

4

81,831

-

81,831

OPERATING PROFIT

6

1,758,372

-

1,758,372

Interest receivable and similar income

190,357

-

190,357

Gain/loss on revaluation of assets

126,774

-

126,774

PROFIT BEFORE TAXATION

2,075,503

-

2,075,503

Tax on profit

8

(514,008

)

-

(514,008

)

PROFIT FOR THE FINANCIAL PERIOD

1,561,495

-

1,561,495

OTHER COMPREHENSIVE INCOME

Income tax relating to other comprehensive income

-

OTHER COMPREHENSIVE INCOME FOR THE PERIOD, NET OF INCOME TAX

847,878

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

2,409,373

Profit attributable to:

Owners of the parent

1,561,495

Total comprehensive income attributable to:

Owners of the parent

2,409,373

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

17,512

3,674,268

Investments

13

4,557,566

-

Investment property

14

2,589,000

2,424,000

7,164,078

6,098,268

CURRENT ASSETS

Stocks

15

-

551,608

Debtors

16

4,007,415

1,236,140

Cash at bank and in hand

5,520,007

5,048,403

9,527,422

6,836,151

CREDITORS

Amounts falling due within one year

17

(229,822

)

(1,298,053

)

NET CURRENT ASSETS

9,297,600

5,538,098

TOTAL ASSETS LESS CURRENT LIABILITIES

16,461,678

11,636,366

PROVISIONS FOR LIABILITIES

20

(107,452

)

(461,893

)

NET ASSETS

16,354,226

11,174,473

CAPITAL AND RESERVES

Called up share capital

21

750

750

Fair value reserve

22

(144,784

)

-

Retained earnings

22

16,498,260

11,173,723

SHAREHOLDERS' FUNDS

16,354,226

11,174,473

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2026 and were signed on its behalf by:

R D Johnson - Director

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

17,512

1,756,040

Investments

13

4,557,566

5,000,000

Investment property

14

2,589,000

2,424,000

7,164,078

9,180,040

CURRENT ASSETS

Debtors

16

4,007,415

499

Cash at bank

5,520,007

2,864,199

9,527,422

2,864,698

CREDITORS

Amounts falling due within one year

17

(229,822

)

(127,148

)

NET CURRENT ASSETS

9,297,600

2,737,550

TOTAL ASSETS LESS CURRENT LIABILITIES

16,461,678

11,917,590

PROVISIONS FOR LIABILITIES

20

(107,452

)

(106,887

)

NET ASSETS

16,354,226

11,810,703

CAPITAL AND RESERVES

Called up share capital

21

750

750

Merger reserve

22

-

4,999,250

Fair value reserve

22

(144,784

)

-

Retained earnings

22

16,498,260

6,810,703

SHAREHOLDERS' FUNDS

16,354,226

11,810,703

Company's profit for the financial year

4,951,935

1,199,948

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2026 and were signed on its behalf by:

R D Johnson - Director

Called up

Fair

share

Retained

value

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2024

750

9,848,324

-

9,849,074

Changes in equity

Dividends

-

(236,096

)

-

(236,096

)

Total comprehensive income

-

1,561,495

-

1,561,495

Balance at 31 December 2024

750

11,173,723

-

11,174,473

Changes in equity

Dividends

-

(263,628

)

-

(263,628

)

Total comprehensive income

-

5,588,165

(144,784

)

5,443,381

Balance at 31 March 2026

750

16,498,260

(144,784

)

16,354,226

Called up

Fair

share

Retained

Merger

value

Total

capital

earnings

reserve

reserve

equity

£

£

£

£

£

Balance at 1 January 2024

750

5,846,851

4,999,250

-

10,846,851

Changes in equity

Dividends

-

(236,096

)

-

-

(236,096

)

Total comprehensive income

-

1,199,948

-

-

1,199,948

Balance at 31 December 2024

750

6,810,703

4,999,250

-

11,810,703

Changes in equity

Dividends

-

(263,628

)

-

-

(263,628

)

Total comprehensive income

-

9,951,185

(4,999,250

)

(144,784

)

4,807,151

Balance at 31 March 2026

750

16,498,260

-

(144,784

)

16,354,226

Cash flows from operating activities

Cash generated from operations

1

(595,159

)

1,870,691

Tax paid

(362,722

)

(585,801

)

Net cash from operating activities

(957,881

)

1,284,890

Cash flows from investing activities

Purchase of tangible fixed assets

(187,748

)

(99,486

)

Purchase of fixed asset investments

(4,702,350

)

-

Purchase of investment property

(176,534

)

(492,226

)

Sale of tangible fixed assets

1,950,000

4,000

Sale of fixed asset investments

5,433,301

-

Disposal of subsidiary bank balances

(884,920

)

-

Interest received

373,279

190,357

Dividends received

18,446

-

Net cash from investing activities

1,823,474

(397,355

)

Cash flows from financing activities

Amount introduced by directors

75,000

-

Equity dividends paid

(263,628

)

(236,096

)

Net cash from financing activities

(188,628

)

(236,096

)

Increase in cash and cash equivalents

676,965

651,439

Cash and cash equivalents at beginning of period

2

4,843,042

4,191,603

Cash and cash equivalents at end of period

2

5,520,007

4,843,042