THE FIRST MILK CHEESE COMPANY LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-08-16 (in 3mo)
Last made up 2025-08-02
Watchouts
None on the register
Cash
£10M
Latest balance sheet
Net assets
£44M
Equity attributable
Employees
187
Average over period
Profit before tax
£8M
Period ending 2025-03-31
Name history
Renamed 1 time since incorporation
- THE FIRST MILK CHEESE COMPANY LIMITED 2006-10-16 → present
- GRASSFLIP LIMITED 2006-08-02 → 2006-10-16
Net assets
2-year trend · vs Consumer Staples median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £371,984,000 | £374,741,000 | |
| Operating profit | £15,926,000 | £14,491,000 | |
| Profit before tax | £10,011,000 | £8,434,000 | |
| Net profit | £12,742,000 | £7,175,000 | |
| Cash | £708,000 | £10,116,000 | |
| Total assets less current liabilities | £95,123,000 | £119,318,000 | |
| Net assets | £36,417,000 | £43,592,000 | |
| Equity | £36,417,000 | £43,592,000 | |
| Average employees | 173 | 187 | |
| Wages | £7,312,000 | £8,306,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 4.3% | 3.9% | |
| Net margin | 3.4% | 1.9% | |
| Return on capital employed | 16.7% | 12.1% | |
| Gearing (liabilities / total assets) | 74.0% | 73.8% | |
| Current ratio | 2.18x | 2.70x | |
| Interest cover | 2.69x | 2.39x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis. The Board has undertaken a thorough review of the Group's forecasts and associated risks. These forecasts extend for a period beyond one year from the date of approval of these financial statements. The forecasts make key assumptions based on information available to the directors at the time of the approval of these financial statements that”
Group structure
- THE FIRST MILK CHEESE COMPANY LIMITED · parent
- Lake District Biogas Limited 100%
Significant events
- “Exceptional expense in the year to 31 March 2025 of £1,156k (2024 £1,902k) relates to an increase in the provision against the intercompany loan to Lake District Biogas Limited.”
- “The FY25 figures include those for BV Dairy, having acquired the business in February 2024.”
- “We successfully integrated BV Dairy into the First Milk family, expanded our milk pool, and saw a marked increase in the area of land being managed regeneratively by our members.”
- “In 2025, we are recertifying and, in B Corp's spirit of constant improvement, aim to further increase our score BV Dairy will be integrated into the certification, increasing opportunities to fulfil the growing demand for B Corp products.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 19 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| WAUGH, Angus John Somerville | Secretary | 2006-08-03 | — | British |
| HANCOCK, Shelagh | Director | 2017-04-01 | Apr 1967 | British |
| JARDINE, Greg Stewart Iain | Director | 2017-09-30 | Mar 1976 | British |
Show 19 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| SWIFT INCORPORATIONS LIMITED | Corporate Nominee Secretary | 2006-08-02 | 2006-08-03 |
| ALLUM, Kate | Director | 2011-03-09 | 2015-04-01 |
| BAIN, Kenneth | Director | 2015-10-30 | 2017-06-16 |
| FAULKNER, Stephen Paul | Director | 2011-03-08 | 2014-05-07 |
| FAULKNER, Stephen Paul | Director | 2006-09-21 | 2007-08-06 |
| FORGIE, Ian Mackay | Director | 2011-03-08 | 2013-02-13 |
| GALLACHER, Mike | Director | 2015-04-01 | 2017-04-01 |
| HALLIWELL, Jeffrey John | Director | 2006-11-07 | 2008-11-12 |
| HARTMAN, Michael Henry | Director | 2007-12-21 | 2009-05-13 |
| HOLLINGDALE, Richard Norman | Director | 2006-11-21 | 2013-04-02 |
| HUMPHREYS, Peter | Director | 2006-08-03 | 2010-01-14 |
| MACKIE, Brian Robert | Director | 2015-09-30 | 2017-02-24 |
| MAGUIRE, James Anthony | Director | 2006-11-07 | 2010-06-30 |
| PARDY, John | Director | 2007-06-18 | 2008-02-22 |
| ROWE, Paul Andrew | Director | 2011-03-09 | 2015-01-28 |
| SHEARER, Owen Matthew | Director | 2017-02-24 | 2017-09-30 |
| SWEENEY, Gerard | Director | 2013-02-13 | 2015-09-30 |
| YOUDS, Mark | Director | 2006-11-07 | 2008-06-13 |
| INSTANT COMPANIES LIMITED | Corporate Nominee Director | 2006-08-02 | 2006-08-03 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| First Milk Limited | Corporate entity | significant-influence-or-control-as-firm | 2016-04-06 | Active |
Filing timeline
Last 20 of 126 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-01-13 | AA | accounts | Accounts with accounts type full | |
| 2025-11-10 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-25 | AA | accounts | Accounts with accounts type full | |
| 2024-08-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-02-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-11-03 | AA | accounts | Accounts with accounts type full | |
| 2023-08-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-22 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-09-12 | AA | accounts | Accounts with accounts type full | |
| 2022-08-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-05-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-09-21 | AA | accounts | Accounts with accounts type full | |
| 2021-08-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-11-12 | AA | accounts | Accounts with accounts type full | |
| 2020-08-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2019-10-13 | AA | accounts | Accounts with accounts type full | |
| 2019-08-02 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31