WATSON'S DAIRIES LIMITED

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

Registered number: 02822582

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		9,911,240		10,160,007

			9,911,240		10,160,007
CURRENT ASSETS
Debtors	5	583,858		567,714
Cash at bank and in hand		4		45,437

		583,862		613,151
Creditors: Amounts Falling Due Within One Year	6	(8,747,668 )		(8,777,085 )

NET CURRENT ASSETS (LIABILITIES)			(8,163,806 )		(8,163,934 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,747,434		1,996,073

Creditors: Amounts Falling Due After More Than One Year	7		(2,500,000 )		(2,500,000 )

NET LIABILITIES			(752,566 )		(503,927 )

CAPITAL AND RESERVES
Called up share capital	8		90,000		90,000
Share premium account			226		226
Revaluation reserve	9		8,734,042		8,691,144
Income Statement			(9,576,834 )		(9,285,297 )

SHAREHOLDERS' FUNDS			(752,566)		(503,927)

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WATSON'S DAIRIES LIMITED

Statement of Financial Position (continued)

As At 25 October 2025

For the year ending 25 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Sheazad Hussain

Director

30/06/2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

WATSON'S DAIRIES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02822582 . The registered office is Medina House, Shirley Avenue, Windsor, Berkshire, SL4 5LH.

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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The principal accounting policies adopted are described below and have been applied consistently throughout the current and preceding period.

The company has opted to apply section 390 (3) of the Companies Act 2006. This permits the company to end its financial year on 25 October 2025 (2024: 26 October 2024) as it is not more than seven days after or before the end of the year dated 27 October 2025 (2022: 27 October 2024).

The functional currency of the company is considered to be British pounds sterling because that is the currency of the primary economic environment in which the company operates.

Watson's Dairies Limited meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its financial statements.

2.2. Going Concern Disclosure

The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. These could relate to the completion of a merger of the group with Nijjar Group Freshway Holdings Ltd, as approved by the CMA , the outcome of the CVA for one member of the group and alternative actions that may be undertaken by the directors. However, the going concern basis remains appropriateriate.

2.3. 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	4% to 10%
Plant & Machinery	5% to 20%
Fixtures & Fittings	14%
Computer Equipment	33%

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

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WATSON'S DAIRIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 25 October 2025

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 27 October 2024	10,033,874	6,336,056	60,381	16,430,311

As at 25 October 2025	10,033,874	6,336,056	60,381	16,430,311

Depreciation
As at 27 October 2024	378,567	5,831,540	60,197	6,270,304
Provided during the period	110,800	137,780	187	248,767

As at 25 October 2025	489,367	5,969,320	60,384	6,519,071

Net Book Value
As at 25 October 2025	9,544,507	366,736	(3 )	9,911,240

As at 27 October 2024	9,655,307	504,516	184	10,160,007

The factory site including all installations was revalued to £12,000,000 as at 29 April 2021 by Miles Commercial, external chartered surveyors, on an open market basis.

The value under the historical cost convention would be £ 1,273,027 (2024: £1,273,027).

5. Debtors

	2025	2024
	£	£
Due within one year
Amounts owed by group undertakings	231,235	231,235
Other debtors	352,623	336,479

	583,858	567,714

Amounts due from or to other group undertakings are unsecured, interest free and repayable on demand

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WATSON'S DAIRIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 25 October 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,311,213	2,308,430
Amounts owed to group undertakings	440,465	464,724
Amounts owed to participating interests	5,820,889	5,828,831
Other creditors	175,101	175,100

	8,747,668	8,777,085

Amounts due from or to other group undertakings are unsecured, interest free and repayable on demand

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

	2025	2024
	£	£
Other loans	2,500,000	2,500,000

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	90,000	90,000

9. Reserves

	Share Premium	Revaluation reserve	Income Statement
	£	£	£
As at 27 October 2024	226	8,691,144	(9,285,297 )
Loss for the year and total comprehensive income	-	-	(248,639 )

Transfer from revaluation reserve	-	-	(42,898)
Transfer to/from Profit & Loss Account	-	42,898	-

As at 25 October 2025	226	8,734,042	(9,576,834 )

10. Post Balance Sheet Events

Having received Competition and Markets Authority (CMA) approval in 2023, the Medina group is planning to complete the merger later with Nijjar Group Freshway Holdings Ltd, a company operating in the same market

11. Related Party Transactions

In accordance with FRS 102 Section 33 transactions with other Group undertakings within, and investee related parties of, the Medina group of companies have not been disclosed in these financial statements

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WATSON'S DAIRIES LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 25 October 2025

12. Ultimate Controlling Party

The ultimate parent company is Medina Holdings Limited, which is incorporated in Great Britain. Medina Holdings Limited is the only company that consolidates the financial results of this company. Copies of the financial statements of Medina Holdings Limited can be obtained from its registered office at Medina Dairy House, Vale Road, Windsor, Berkshire, SL4 5JL.

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