REGISTERED NUMBER: 00547564 (England and Wales)

SARIA Limited

Strategic Report, Report of the Directors and

Audited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

6

Report of the Independent Auditors

9

Income Statement

12

Other Comprehensive Income

13

Balance Sheet

14

Statement of Changes in Equity

15

Notes to the Financial Statements

16

DIRECTORS:

T B Versterre

B O Jeewooth

R Poskitt

SECRETARY:

B O Jeewooth

REGISTERED OFFICE:

Ings Road

Doncaster

South Yorkshire

DN5 9TL

REGISTERED NUMBER:

00547564 (England and Wales)

SENIOR STATUTORY AUDITOR:

Ian Parsons FCA

AUDITORS:

Paylings

Unit 2 Silkwood Park

Fryers Way

Ossett

West Yorkshire

WF5 9TJ

BANKERS:

HSBC plc

City Office

33 Park Row

Leeds

West Yorkshire

LS1 1LD

SOLICITORS:

Ramsdens Solicitors

7 King Street

Mirfield

West Yorkshire

WF14 8AW

Business Overview

SARIA Limited (SARIA) operates in a wide range of sectors associated with the food chain, renewable energy, and recycling.

The Group's companies manufacture quality products for use in human and animal foodstuffs, agriculture, aquaculture, and industrial applications. The Group also produces biofuels and renewable energy and provides services for farming and the food industry.

The Group's operations can be split into the following distinct sectors:

Edible food manufacture, trading, and distribution

Pet food ingredient manufacturing

Food waste recycling

Renewable energy generation

High risk animal by-product collection and processing

In addition to the key areas outlined above, the Group also participates in two specialist joint ventures in the pet food sector.

The Group has an active presence as a service provider or product customer at each stage of the food chain - from farm gate to post-consumer plate. The Group operates a variety of processing operations based on a unique range of production platforms tailored to customer needs and achieving the most appropriate balance of environmental efficiency and cost effectiveness.

The Company's incoming resources relate predominantly to management services to other group members, presented as other operating income in these financial statements. A small amount of incoming resources exists for sales to third parties of finished goods produced by other group companies, which is presented as turnover in these financial statements. The accounts are prepared for the company only and do not include subsidiary results.

Section 172(1) Companies Act 2006 Statement

The Directors of SARIA Limited consider both collectively and individually that they have acted in good faith, and in a manner most likely to create and promote the success of the company for the benefit of its members as a whole as defined by s172(1) Companies Act 2006 during the year ended 31st December 2024 supported by delivery of the long-term business plan ("the plan").

In developing and implementing the plan, the directors have considered the following key objectives as defined by s172 of the Companies Act:

a) The likely consequences of any decision in the long term

b) The interests of the company's employees

c) The need to foster the company's business relationships with suppliers, customers and others

d) The impact of the company's operations on the community and the environment

e) The desirability of the company maintaining a reputation for high standards of business conduct, and

f) The need to act fairly as between members of the company.

The implementation of the plan is underpinned by the introduction of the SARIA SE & Co. KG Group global policies on corporate compliance which set out our obligations in the following key areas:

1) Appropriate working conditions

The company respects human rights and employment law, without exception.

The board of directors' respects human rights in strict accordance with the European Convention on Human Rights (ECHR). We reject all forms of forced or compulsory labour. Equally, we are opposed to all forms of child labour. The minimum age for admission to employment shall be as set out in the respective national legislation or collective bargaining agreements - provided these comply with the Minimum Age Convention adopted by the International Labour Organisation (ILO).

The company promotes equal opportunities and equal treatment of employees, rejecting all forms of discrimination on any ground whatsoever, e.g., race, ethnic origin, gender, religion, political or other opinion, disability, age, or sexual identity. The company recruits and promotes employees solely based on professional qualifications and performance.

The company seeks to ensure that every employee, without exception, is treated equally and fairly and that all employees are aware of their responsibilities. Our policies and procedures fully support our disabled colleagues.

The Group is responsive to the needs of its employees. As such, should any employee of the Group become disabled during their time with us, we will actively retrain that employee and make reasonable adjustments to their working environment where possible, in order to keep the employee with the Group. It is the policy of the Group that the recruitment, training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

SARIA is a 'Disability Confident' registered employer as per Stage 1 of the Disability Confident Scheme - https://disabilityconfident.campaign.gov.uk/ - which is an ongoing commitment to ensuring inclusion and diversity within the workplace.

2) Health and safety

The promotion of high standards of health, safety and welfare at work is a prime objective for the company, its employees and business partners (such as contractors and other service providers). The Board of Directors therefore affirm the company will do all that is reasonably practicable to protect its employees and other people who meet the company or its products from personal injury or hazards to health, arising from any foreseeable risks.

3) Fair competition and integrity in our business dealings

As the board of Directors, our intention is to behave responsibly and ensure that the management operate the business in a responsible and sustainable manner, both financially and environmentally.

Collectively we will continue to operate to the high standards of integrity expected of a business such as ours, and to employ a system of continuous improvement with training and development in line with our commitment to responsible behaviour.

When dealing with all partners, whether they are suppliers, customers, or other stakeholders, we will ensure the relationship is always maintained in a professional and responsible manner. A principal objective from our plan is the delivery of long-term successful returns for the company and our business partners.

4) Cooperation with the authorities

The company is committed to maintaining a constructive relationship with all the relevant authorities while safeguarding its own interests and rights.

5) Correct payment of taxes and duties

The company's immediate parent, SARIA International GmbH has a presence in many countries and is a stakeholder in the local economies in which it operates. The payment of taxes is essential for the stability and infrastructure of an economy, and therefore also has a direct impact on factors that are important for our success.

Declaring and paying taxes and duties in time and in accordance with legal requirements is a social responsibility that we take very seriously.

We aim to fulfil our tax obligations in an accurate and timely manner, to pay the appropriate amount due and always act in good faith in our dealings with the tax authorities in the countries in which we operate. To achieve this aim, we have put in place an internal control system that can prevent or detect material errors.

6) Processing and using our products in accordance with the law

Compliance with legal regulations on the production and use of our products is essential.

The SARIA Group specialises in the recycling of animal by- products and other materials of organic origin. These raw materials are often subject to statutory requirements governing both their processing and future applications.

All processing of materials by the company is carried out in strict compliance with this legislation, without any exceptions. Our company is careful to ensure that the products we supply to our customers are used solely in accordance with their legally defined specific purpose.

The plan involves a fundamental commitment to enhancing our environmental performance in key areas, including but not restricted to - emissions to air, water and land, carbon-intensity of our operations, reductions in our supply chain carbon impact alongside efficiency improvements.

Key Performance Indicators (KPIs)

The market conditions within the category 1 and category 3 animal by-product sector continue to be challenging. As a result, the directors have made an impairment in SARIA Limited. This is in relation to the inter-company loans owing to SARIA by SECANIM and SARVAL (Hartshill). Details of the impairments within SARIA are shown in note 6 on page 20 to the accounts.

As shown in the company's income statement on page 12, the company's result has worsened to a loss of (£46,127,522) (2023 - £18,004,422). At the year end the shareholder's funds were £79,919,699 (2023 - £75,995,471). The increase in shareholders funds in the year is the result of a financing restructure in the period, which has been largely offset by the current year performance following the impairment to the loan receivable from SECANIM and SARVAL (Hartshill).

SARIA manages its operations on a divisional basis. For this reason, the company's directors believe that further key performance indicators for the company are not necessary or appropriate for an understanding of the development, performance, or position of the business.

Risk

With businesses active across a wide variety of sectors and operating large-scale processing operations always entails risk. Beside market developments, we are also affected by global events such as commodity market price changes driven by weather patterns; such events entail risks but also present us with new opportunities.

The Group is faced with challenges when conducting analyses and making decisions. If we do not incorporate market developments or if we evaluate them incorrectly, they may pose serious business risks. The risks affecting SARIA are largely dealt with on a group basis, apart from the ones highlighted below:

Business Unit / Area

Risk

Mitigation Factor

Legal and regulatory risks

The granting of operating permits, or the withdrawal or variation of permits already granted, and changes to the legal environment or regulations could adversely affect the Group's operations and development projects.

Political, legal and regulatory developments affecting the Group's operations and projects are monitored closely. The Group is an active member of trade associations in the UK & Europe to gain a clear understanding of regulatory changes.

Health & Safety

Health & safety incidents could result in harm to the Group's employees, contractors or local communities. Ensuring safety and wellbeing is an ethical obligation for the Group. Poor safety records or serious accidents could have a serious impact on the Group's production and reputation.

The Group focuses on identifying, mitigating and managing the safety risks inherent across its operations. The Group's objective is to create a safety culture through regular training and awareness campaigns for employees and contractors. The Group operates a 'best practice' system of in-house training to develop an embedded health & safety culture.

Environment and Employees

SARIA recognises the importance of its environmental responsibilities and implements policies to reduce any damage that might be caused to the environment.

Initiatives designed to minimise the company's impact on the environment include improving our energy use efficiency, reduction in carbon emissions by using only renewable fuel and minimising the consumption of water.

Details of the number of employees and related costs can be found on page 19 of the financial statements.

The company participates in the group's policies and practices regarding Health and Safety at work, pension, and health care schemes.

Future Developments

The directors anticipate that they will continue to develop the company's established activities including providing management facilities for the Group.

ON BEHALF OF THE BOARD:

B O Jeewooth - Director

10 September 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a head office function for the subsidiaries of the Saria UK Group.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTORS

The directors who have held office during the period from 1 January 2024 to the date of this report are as follows:

J G Braide - resigned 31 December 2024

A R Smith - resigned 31 July 2024

R V Ratcliffe - resigned 7 June 2024

P A Simpson - resigned 21 September 2024

F - B Thier - resigned 10 June 2024

T B Versterre - appointed 3 October 2024

P G Hill - appointed 1 March 2024 - resigned 29 May 2024

B O Jeewooth and R Poskitt were appointed as directors after 31 December 2024 but prior to the date of this report.

QUALIFYING THIRD PARTY INDEMNITY PROVISIONS

The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.

STREAMLINED ENERGY AND CARBON REPORTING

Covering energy use and associated greenhouse gas emissions relating to gas, electricity and transport, intensity ratios and information relating to energy efficiency actions. Given that there are several subsidiaries operating from the principal site of SARIA Ltd, it has not been practicable to split the electricity, gas and diesel usage between each entity. Accordingly the numbers presented in the table below are in relation to the principal site operated by SARIA Ltd and a number of its subsidiaries. SARIA Ltd's subsidiaries, T Quality Limited, SARVAL Limited and Refood UK Ltd are all required to report their own SECR data.

Current reporting year (Jan 24 - Dec 24)

Key Performance Indicator (KPI)

Amount '24

Amount '23

Unit

Electricity Usage

661,306

905,098

kWh

Gas Usage

27,098,166

30,947,217

kWh

Diesel Usage

1,742,372

1,552,415

litres

Total emissions generated through use of purchased electricity

137

187

tCO2e

Total emissions generated through combustion of gas

4,956

5,661

tCO2e

Total emissions generated through business travel

4,637

4,128

tCO2e

Total gross emissions

9,731

9,976

tCO2e

Intensity ratio (total gross emissions)

0.0542

0.0544

tCO2e per tonne of material processed

Energy efficiency actions

We are committed to responsible energy management and will practice energy efficiency throughout our organisation, wherever it is cost effective. We recognize that climate change is one of the most serious environmental challenges currently threatening the global community and we understand we have a role to play in reducing greenhouse gas emissions.

We have implemented the policies below for the purpose of increasing the businesses energy efficiency in the relevant financial year.

- Upgrade vehicles to more energy efficient models where possible

- Introduction of hybrid/fully electric vehicles into the car portfolio

- Upgrade plant & machinery to improve on energy performance where possible

- Servicing and adjustment to existing plant & machinery to improve on energy performance where possible

- Increased availability and encouraged use of video conferencing.

- Reduced travel costs by reducing number of face to face meetings with clients and suppliers

The following energy efficiency measures are being implemented or are under consideration for implementation during 2025

- Carbon reduction by biomass combustion

- Continued investment in low energy processes and techniques

- Continue to replace/upgrade vehicles and plant & machinery for more energy efficient options

Methodology used in the calculation of disclosures

ESOS methodology (as specified in Complying with the Energy Savings Opportunity Scheme version 6, published by the Environment Agency 28/10/2019) used in conjunction with Government GHG reporting conversion factors.

DISCLOSURE IN THE STRATEGIC REPORT

The directors have chosen to include details of engagement with suppliers, customers and others in business relationships with the company in their strategic report, as this is deemed to be of strategic importance to the company.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Paylings, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

B O Jeewooth - Director

10 September 2025

Opinion

We have audited the financial statements of SARIA Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not

visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page seven, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditor's that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach to identifying and assessing the risks of material misstatements in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to

identify or recognise non-compliance with applicable laws and regulations;

- We identified the laws and regulations applicable to the company through discussions with directors and other management, and

from our commercial knowledge and experience of the industry;

- We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements

or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery,

employment and health and safety legislation;

- We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management

and inspecting legal correspondence; and

- We remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- Making enquiries of management as to where they considered there was susceptibility to fraud and their knowledge of actual,

suspected and alleged fraud; and

- Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- Performed analytical procedures to identify any unusual or unexpected relationships;

- Tested journal entries to identify unusual transactions;

- Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

and

- Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we identified procedures which included, but were not limited to:

- Agreeing financial statements disclosures to underlying supporting documentation;

- Reading the minutes of meetings of those charged with governance;

- Enquiring of management as to actual and potential litigation and claims; and

- Reviewing correspondence with HMRC, relevant regulators and the Company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulation s are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of your Report of the Auditor's.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ian Parsons FCA (Senior Statutory Auditor)

for and on behalf of Paylings

Unit 2 Silkwood Park

Fryers Way

Ossett

West Yorkshire

WF5 9TJ

10 September 2025

TURNOVER

3

3,384,905

982,420

Other operating income

24,367,130

24,352,017

27,752,035

25,334,437

Raw materials and consumables

8,431,071

7,429,443

Other external expenses

390,009

274,903

8,821,080

7,704,346

18,930,955

17,630,091

Staff costs

4

15,500,822

8,953,588

Depreciation

3,070,718

2,706,267

Other operating expenses

49,648,256

24,768,740

68,219,796

36,428,595

OPERATING LOSS

5

(49,288,841

)

(18,798,504

)

Income from participating interests

2,650,000

500,000

Interest receivable and similar income

7

10,544,813

6,891,647

Other finance income

23

144,000

173,000

13,338,813

7,564,647

(35,950,028

)

(11,233,857

)

Interest payable and similar expenses

8

11,712,192

6,920,214

LOSS BEFORE TAXATION

(47,662,220

)

(18,154,071

)

Tax on loss

9

(1,534,698

)

(149,649

)

LOSS FOR THE FINANCIAL YEAR

(46,127,522

)

(18,004,422

)

LOSS FOR THE YEAR

(46,127,522

)

(18,004,422

)

OTHER COMPREHENSIVE INCOME

Revaluation of properties

Return on plan assets

(5,272,000

)

1,773,000

Changes in assumptions

5,769,000

(1,138,000

)

Experience gains & losses arising on

(428,000

)

(964,000

)

pension scheme liabilities

Income tax relating to components of other comprehensive income

(17,250

)

82,250

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

51,750

(246,750

)

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(46,075,772

)

(18,251,172

)

FIXED ASSETS

Intangible assets

10

11,590

-

Tangible assets

11

55,951,500

57,239,871

Investments

12

15,089,135

15,234,135

Investment property

13

807,949

750,000

71,860,174

73,224,006

CURRENT ASSETS

Stocks

14

85,340

66,827

Debtors

15

94,929,049

106,984,957

Cash at bank and in hand

4,507

4,375

95,018,896

107,056,159

CREDITORS

Amounts falling due within one year

16

10,436,896

58,287,677

NET CURRENT ASSETS

84,582,000

48,768,482

TOTAL ASSETS LESS CURRENT LIABILITIES

156,442,174

121,992,488

CREDITORS

Amounts falling due after more than one year

17

(74,776,649

)

(47,000,000

)

PROVISIONS FOR LIABILITIES

20

(604,153

)

(2,122,592

)

PENSION (LIABILITY)/ASSET

23

(1,141,673

)

3,125,575

NET ASSETS

79,919,699

75,995,471

CAPITAL AND RESERVES

Called up share capital

21

50,211,188

211,188

Share premium

22

62,449,110

62,449,110

Revaluation reserve

22

7,573,093

7,622,746

Capital redemption reserve

22

50,000

50,000

Investment revaluation reserve

22

419,148

419,148

Retained earnings

22

(40,782,840

)

5,243,279

SHAREHOLDERS' FUNDS

79,919,699

75,995,471

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

B O Jeewooth - Director

Called up

share

Retained

Share

capital

earnings

premium

£

£

£

Balance at 1 January 2023

211,188

22,579,283

62,449,110

Changes in equity

Total comprehensive income

-

(17,336,004

)

-

Balance at 31 December 2023

211,188

5,243,279

62,449,110

Changes in equity

Issue of share capital

50,000,000

-

-

Total comprehensive income

-

(46,026,119

)

-

Balance at 31 December 2024

50,211,188

(40,782,840

)

62,449,110

Capital

Investment

Revaluation

redemption

revaluation

Total

reserve

reserve

reserve

equity

£

£

£

£

Balance at 1 January 2023

8,537,914

50,000

419,148

94,246,643

Changes in equity

Total comprehensive income

(915,168

)

-

-

(18,251,172

)

Balance at 31 December 2023

7,622,746

50,000

419,148

75,995,471

Changes in equity

Issue of share capital

-

-

-

50,000,000

Total comprehensive income

(49,653

)

-

-

(46,075,772

)

Balance at 31 December 2024

7,573,093

50,000

419,148

79,919,699

1.	STATUTORY INFORMATION

SARIA 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The presentational currency is GBP and the financial statements are rounded to the nearest pound.

Going concern

Whilst the entity has suffered from a loss in the current year, this is due to exceptional write downs in the period and after considering all impairments realised to date and the improved trading performance of the group after the reporting date there is no expectation of further impairments. The role of the entity is that of a head office function for the group, therefore all running costs outside of these exceptional items are recouped via the various non trading income streams. Management anticipate this to continue to be the case moving forward. The entity maintains a strong positive reserves position and is financially supported by its German parent. The going concern basis of preparation is therefore deemed appropriate.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

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the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements

The financial statements contain information about SARIA Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Rethmann SE & Co. KG, Norbert-Rethmann-Platz 1 59379 Selm, Germany.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In respect of depreciation, the entity is largely governed by the Rethmann accounting policies (issued by the parent group). These policies/rates are followed, to the extent that they are reflective of the average economic consumption of the asset type. Where the actual consumption of a class of asset differs materially from this policy, a more appropriate rate is applied.

In the current year the Directors have further assessed the recoverability of a loan receivable balance in respect of one of it's subsidiary entities. Due to current performance of the subsidiary, it was deemed necessary to make a further provision against the balance.

The Rethmann policy of bad debt provision is applied, being 100% for debts over 365 days old, 50% for debts over 180 days old and 1% against all other debts.

Stock ageing is reviewed regularly by management to assess the requirement for a slow moving/obsolescence provision, however any such provision is not currently deemed necessary.