ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

Company registration number: 10765048

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	NPSG UK LIMITED


NPSG UK LIMITED

COMPANY INFORMATION

Directors	P N Grum
	E D Obrokta
	W T Selby


Registered number	10765048


Registered office	8 Devonshire Square
	London
	EC2M 4PL


Independent auditor	Menzies LLP
	Chartered Accountants & Statutory Auditor
	95 Gresham Street
	London
	EC2V 7AB


NPSG UK LIMITED

CONTENTS

	Page
Statement of financial position	1
Notes to the financial statements	2 - 7


NPSG UK LIMITED REGISTERED NUMBER:10765048

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	5		3,952		-
			3,952		-
Current assets
Debtors: amounts falling due within one year	6	1,532,047		1,302,910
Cash at bank and in hand		215,412		467,642
		1,747,459		1,770,552
Creditors: amounts falling due within one year	7	(268,363)		(418,737)
Net current assets			1,479,096		1,351,815
Total assets less current liabilities			1,483,048		1,351,815

Net assets			1,483,048		1,351,815

Capital and reserves
Called up share capital	1	1
Profit and loss account	1,483,047	1,351,814
	1,483,048	1,351,815

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

P N Grum

Director

Date: 16 September 2025

The notes on pages 2 to 7 form part of these financial statements.

Page 1


NPSG UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

NPSG UK Limited ("the Company") is a private company limited by shares and is incorporated and domiciled in England. The address of its registered office is 8 Devonshire Square, London, United Kingdom, EC2M 4PL.
The principal activity of the Company is the delivery of e-fulfillment warehouse implementation services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

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

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of NPSG Global, LLC a company incorporated in the USA as at 31 December 2024 and these financial statements may be obtained from NPSG Global, 1850 Parkway Place STE 500, Marietta, GA 30067, USA.

2.3

Going concern

The Directors confirm that the ultimate parent undertaking NPSG Global, LLC will continue to provide financial support for a period of at least 12 months from the date of signing of these financial statements. The Directors are satisfied that the support of the ultimate parent undertaking will enable the Company to meet its financial obligations as they fall due.

Page 2


NPSG UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


NPSG UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

				Plant and machinery	-	2-5 years
				Fixtures and fittings	-	2 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

In the process of applying the entity's accounting policies, management makes estimates and assumptions that have an effect on the amounts recognised in the financial information. Although these estimates are based on management's best knowledge of current events and actions, actual results may ultimately differ from those estimates. The Directors do not consider there to be any critical accounting estimates or judgements made in the preparation of these financial statements.

Page 4


NPSG UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Employees

The average monthly number of employees, including directors, during the year was 37 (2023 - 46).

5.	Tangible fixed assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 January 2024	86,345	199,871	286,216
Additions	4,590	-	4,590
At 31 December 2024	90,935	199,871	290,806
Depreciation
At 1 January 2024	86,345	199,871	286,216
Charge for the year on owned assets	638	-	638
At 31 December 2024	86,983	199,871	286,854
Net book value
At 31 December 2024	3,952	-	3,952
At 31 December 2023	-	-	-

Page 5


NPSG UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	119,721	106,939
Amounts owed by group undertakings	1,342,893	1,104,254
Other debtors	3,064	291
Prepayments and accrued income	66,369	91,426
	1,532,047	1,302,910

Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment, and are repayable on demand.

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	41,660	18,304
Corporation tax	17,494	26,608
Other taxation and social security	132,421	104,191
Other creditors	25,855	22,462
Accruals and deferred income	50,933	247,172
	268,363	418,737

Not later than 1 year	70,644	75,368
Later than 1 year and not later than 5 years	11,774	11,774
	82,418	87,142

9.	Controlling party

The immediate parent undertaking is NPSG Europe B.V, a company incorporated in the Netherlands. The ultimate parent undertaking and the smallest and largest group to consolidate these financial statements is NPSG Global, LLC, a company incorporated in the US. The registered office of NPSG Global, LLC is 1850 Parkway Place Ste 500, Marietta, GA 30067, United States.
The Directors do not consider there to be an ultimate controlling party.

Page 6


NPSG UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

10.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 22 September 2025 by Robin Hopkins FCA (Senior statutory auditor) on behalf of Menzies LLP.

Page 7