The cheese factory was singled out because of its success in making locally produced cheese reach markets in countries from the Lebanon to Korea.
Bill Riding, who jointly runs the firm with sister Tilly Carefoot, gave the Queen a guided tour of the factory to explain the process, before Her Majesty met the sales team, dairy farmers and other local dignitaries.
Mr Riding said: "I am so proud and honoured that she chose to come... And she said she would never look at Sage Derby in quite the same way again."
Mrs Carefoot, said she was "overcome by emotion but held it together".
She said: "She is so charming, and she asked such pertinent questions. We talked a lot about international trade and she was very interested to discover just how far flung our cheeses are."
"I am very proud to share this with my staff without everybody we couldn't have got this award."
The younger family members Jessica, 16, and Rebecca Riding, 14 and Olivia Carefoot, 16, presented the Queen with a basket of cheeses while Jack Carefoot, Mrs Carefoot's eldest son, told the Queen about his studies.
21-year-old Jack a "massive royalist" who plans to go to Sandhurst on finishing his Law degree in Preston said: "I think they are so important for the country. And they set us apart from other countries. It is a great honour for the firm and to meet her personally."
William Slinger, a dairy farmer from Pendleton which is one a 30 supplying Bowland Fresh Milk to the Longridge cheese company, admits that Singleton's has helped keep many local dairy farms in business.
He said: "(The Queen) was very supportive of what we do. She was very interested to know the area we supply milk from and also how many farmers are involved."
Singleton's is the only business in the county to have won the Queen's award for enterprise twice, in 2001 and 2005.

* For more pictures and reports from Longridge's Royal day, see a special souvenir pull-out in this week's Longridge News