The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Bestplate Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 6, Junction 6 Industrial Estate, Electric Avenue, Birmingham, United Kingdom, B6 7JJ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The accounting period spans over 18 months, with the period commencing on 1st July 2023 and concluding on 31st December 2024.

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of services is recognised by reference to the period of service being provided.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

The average monthly number of persons (including directors) employed by the company during the period was:

The company's freehold land and buildings were distributed at net book value via a dividend in specie to Zell-Em Group Limited, the parent company until 27 February 2024.

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

A deferred tax asset of £222,969 has not been recognised given the existence of losses in the current year.

On 27 February 5,000 Deferred shares of £1 each were redesignated as 5,000 Ordinary shares of £1 each.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The prior period has been restated to better present the underlying nature of the sales rebate balances. The restatement has resulted in an increase in both trade debtors and other creditors of £499,898.

The prior period reported profit and net assets remains unchanged.

A 15-year lease was entered into during the year, which includes break clauses at five-year intervals.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

During the year, the company issued a 15-year lease as lessor, which includes break clauses at five-year intervals.

The company is a wholly owned subsidiary of the group headed by Erich Utsch AG and has taken advantage of the exemption conferred by section 33.1A of FRS 102 not to disclose transactions with Erich Utsch AG or other wholly owned subsidiaries within the group.

At the balance sheet date the company was owed £2,095,332 (2023: £Nil) by UGroup UK Numberplates Limited (previously Hills Group International Limited), the immediate parent company. The balance is presented within amounts due from fellow group undertakings and is interest free and repayable on demand.

At the balance sheet date the company owed £43,440 (2023: £Nil) to Hills Numberplates Limited, a fellow subsidiary undertaking. The company also had trading balances with Hills Numberplates Limited of £10,186 and £3,814 (2023: £nil and £nil) within trade debtors and trade creditors, respectively. The balances are interest free and repayable on demand.

During the year the company wrote off a loan totalling £2,860,715 which was due to Zell-Em Group Limited, the previous immediate and ultimate parent company. This is presented within movements in the statement of changes in equity.

The immediate and ultimate parent undertaking of the company was Zell-Em Group Limited, a company incorporated in England & Wales, until 27 February 2024.

On 27 February 2024, a demerger occured such that 100% of the share capital of the company was transferred to Bestplate Holdings Limited, a company registered in England and Wales.

Immediately following the demerger, the shares of Bestplate Limited were purchased by UGroup UK Numberplates Limited (previously Hills Group lnternational Limited), a company registered In England & Wales.

At the balance sheet date the immediate parent company was UGroup UK Numberplates Limited and the ultimate parent company was Polaris Holdings GmbH. The smallest and largest companies of which the Company is a member and for which Group accounts are drawn up is that of Erich Utsch AG and Polaris Holdings GmbH, respectively. Copies of these accounts are available from Marienhütte 49, 57080 Siegen, Germany.