Today, I'Ansons exports products to 27 different countries and boasts a turnover of £25m.

Now the company has achieved Royal approval after being presented with a Queen's Award for Enterprise: Innovation.

The firm received the award from the Lord Lieutenant of North Yorkshire, Lord Crathorne, in a ceremony at its plant in Masham, where it employs 75 people.

Founded in 1900 by the great grand-father of the present managing director Chris I'Anson , the company is best known for its British Horse Feeds division.

I'Ansons received the award in recognition of its having developed a revolutionary quick-soaking sugar beet feed for horses and ponies called Speedi-Beet.

The feed turns sugar beet into a quick-soak flake, which can absorb up to five times its weight of water in less than 10 minutes. It is one of the most recent innovations from a company that prides itself on high quality feedstuffs supplied to livestock owners.

The product is now exported around the world, including to the USA, Middle East and Australia.

Chris I'Anson said: "The Queen's Award is the most prestigious event in the long history of the company and is testimony to the commitment, hard work and dedication of our employees and the continued loyalty of our customers in the UK and around the world. Over the century and more of our existence, agriculture has been subject to enormous changes and it is only because we have continually invested in developing products to meet the needs of farmers that we are able to maintain our position at the forefront of the industry.

"We are proud that our business is still independent and family owned and are committed to ensuring its future growth and development."

The Queen's Awards are awarded by the Queen, on the advice of the Prime Minister, assisted by an advisory committee that includes representatives of Government, industry and commerce and the trade unions.

I'Ansons' success follows closely on another major achievement which saw it defeat the likes of BMW and Toyota to claim Microsoft's Overall Excellence Award for the Europe, Middle East and Africa (EMEA) region.

Mr I'Anson's brother, Will, who is the company's sales and marketing director, led the development of Speedi-Beet, said: "Following so soon after our success in the Microsoft Awards, the Queen's Award illustrates how relatively small companies can compete on the world stage by using ideas and innovation to develop new products and win new markets. We've been delighted at the response to Speedi-Beet at home and abroad."

Both of the brothers said that they are determined to develop the business and help to support farmers as they come under renewed pressure to produce more to help make the UK more self-sustaining in food output.