REGISTERED NUMBER: 11317830 (England and Wales)

JEPCO (Glebe) Limited

Unaudited Financial Statements

for the Year Ended 31 January 2026

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

Notes to the financial statements

5

Directors:

S Goddard

S W Piccaver

Registered office:

Norfolk House Farm

Gedney Marsh

Holbeach

Spalding

Lincolnshire

PE12 9PB

Registered number:

11317830 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JEPCO (Glebe) Limited for the year ended 31 January 2026 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of JEPCO (Glebe) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JEPCO (Glebe) Limited and state those matters that we have agreed to state to the Board of Directors of JEPCO (Glebe) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JEPCO (Glebe) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JEPCO (Glebe) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of JEPCO (Glebe) Limited. You consider that JEPCO (Glebe) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JEPCO (Glebe) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

2 October 2026

Fixed assets

Tangible assets

5

3,016,171

3,462,149

Current assets

Stocks

205,577

204,199

Debtors

6

423,903

671,094

Cash at bank

9,028

20,344

638,508

895,637

Creditors

Amounts falling due within one year

7

4,970,323

5,152,811

Net current liabilities

(4,331,815

)

(4,257,174

)

Total assets less current liabilities

(1,315,644

)

(795,025

)

Creditors

Amounts falling due after more than one year

8

2,359,927

2,649,745

Net liabilities

(3,675,571

)

(3,444,770

)

Capital and reserves

Called up share capital

10

100

100

Retained earnings

(3,675,671

)

(3,444,870

)

Shareholders' funds

(3,675,571

)

(3,444,770

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 October 2026 and were signed on its behalf by:

S W Piccaver - Director

1.	Statutory information

JEPCO (Glebe) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Going concern

At the balance sheet date total liabilities exceed total assets by £3,675,571. This deficit is due to liabilities to connected parties, however these creditors have indicated that they will not demand repayment of these liabilities in preference to other creditors.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Buildings - 5% & 10% straight line

Irrigation equipment - 10% straight line

Plant and machinery - 8%,10% & 20% straight line

Office equipment - 25% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Government grants are recognised using the accrual model and the performance model.

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.

Under the performance model, where the grant does not impose specified future performance related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4.	Employees and directors

The average number of employees during the year was 37 (2025 - 32 ) .

5.	Tangible fixed assets

Leasehold

Irrigation

Plant and

buildings

equipment

machinery

£

£

£

Cost

At 1 February 2025

1,288,344

150,706

5,186,568

Additions

50,047

-

39,483

Disposals

-

-

-

At 31 January 2026

1,338,391

150,706

5,226,051

Depreciation

At 1 February 2025

356,844

80,882

2,730,087

Charge for year

68,493

15,842

452,967

Eliminated on disposal

-

-

-

At 31 January 2026

425,337

96,724

3,183,054

Net book value

At 31 January 2026

913,054

53,982

2,042,997

At 31 January 2025

931,500

69,824

2,456,481

Assets

Office

under

equipment

construction

Totals

£

£

£

Cost

At 1 February 2025

10,007

2,460

6,638,085

Additions

-

2,250

91,780

Disposals

(6,778

)

-

(6,778

)

At 31 January 2026

3,229

4,710

6,723,087

Depreciation

At 1 February 2025

8,123

-

3,175,936

Charge for year

442

-

537,744

Eliminated on disposal

(6,764

)

-

(6,764

)

At 31 January 2026

1,801

-

3,706,916

Net book value

At 31 January 2026

1,428

4,710

3,016,171

At 31 January 2025

1,884

2,460

3,462,149

6.

Debtors: amounts falling due within one year

2026

2025

£

£

Trade debtors

1,541

2,223

Amounts owed by group undertakings

224,439

423,610

VAT

36,247

28,419

Prepayments

161,676

216,842

423,903

671,094

7.

Creditors: amounts falling due within one year

2026

2025

£

£

Trade creditors

302,495

383,482

Amounts owed to related companies

3,917,641

4,023,321

Social security and other taxes

27,770

20,789

Wages control account

11,514

13,247

Pensions creditor

2,415

2,035

Bank loans

230,834

219,400

Hire purchase liabilities

46,955

48,438

Other creditors

80,071

110,071

Accruals and deferred income

350,628

332,028

4,970,323

5,152,811

8.

Creditors: amounts falling due after more than one year

2026

2025

£

£

Bank loans

2,328,517

2,588,632

Hire purchase liabilities

31,410

61,113

2,359,927

2,649,745

Included within bank loans are liabilities totalling £1,586,017 (2025 - £1,857,699) falling due after more than five years.

9.	Secured debts

Bank loans are secured by a legal charge over the lease of land and a fixed and floating debenture over the undertakings and assets of the company. Hire purchase liabilities are secured on the asset acquired. A director has given a personal guarantee of £500,000.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

100

Ordinary shares

£1

100

100

11.	Ultimate controlling party

The company is a wholly owned subsidiary of JEPCO (Soiless Systems) Limited, which is a wholly owned subsidiary of Anglia Salads Limited.