ACCOUNTS - Final Accounts

Operating loss

The operating loss is stated after charging:

Registered number: 02853557

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

CONTENTS

	Page
Company Information	1
Group Strategic Report	2 - 4
Directors' Report	5 - 6
Independent Auditors' Report	7 - 10
Consolidated Statement of Comprehensive Income	11 - 12
Consolidated Balance Sheet	12 - 13
Consolidated Statement of Changes in Equity	15
Company Statement of Changes in Equity	16
Consolidated Statement of Cash Flows	17 - 18
Consolidated Analysis of Net Debt	19
Notes to the Financial Statements	20 - 37

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

COMPANY INFORMATION

Directors	M Teperson
	D M Ellman


Company secretary	M Teperson


Registered number	02853557


Registered office	101 New Cavendish Street
	First Floor South
	London
	W1W 6XH


Independent auditors	Harris & Trotter LLP
	101 New Cavendish Street
	First Floor South
	London
	W1W 6XH


Bankers	HSBC UK Bank PLC
	PO Box 68
	130 New Street
	Birmingham
	West Midlands
	B2 4JU

Page 1

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

GROUP STRATEGIC REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Introduction

The Directors present their strategic report together with the audited financial statements for the year ended 30 September 2024.

Business review

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the Company as a whole, these being turnover, profit before tax and shareholder's funds. A summary of these is given in the table below.

		2024	2023	2022	2021	2020	2019
		£	£	£	£	£	£


Turnover	53,660,740	56,614,692	55,796,243	30,000	30,000	30,000
(Loss)/Profit before taxation	(1,303,134)	(1,081,190)	(3,361,620)	721,843	5,744,641	1,233,192
Net Assets	14,473,536	15,456,118	16,709,489	20,538,958	24,988,588	13,983,989

Principal risks and Financial Instruments
The Company’s principal financial instruments comprise bank balances, bank overdrafts, trade creditors and trade debtors. The main purpose of these instruments is to raise funds to finance the Company's operations.
Due to the nature of the financial instruments used by the Company there is no exposure to price risk. The Company's approach to managing other risks applicable to the financial instruments concerned is shown below.
In respect of bank balances the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility through the use of overdrafts at floating rates of interest. The Company makes use of money market facilities when funds are available.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Page 2

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Section 172 Statement

The Directors of the Company strive to act in ways most likely to promote the success of the business for the benefit of its stakeholders having regard to the matters set out in S172 (1) a-f of the Companies Act 2006 when making strategic decisions.
The following Section 172 (1) statement is made on behalf of the Company in Compliance with the Act.

Foster business relationships with suppliers, customers and other stakeholders
Suppliers

The Company works hard to ensure that its suppliers are treated fairly and are valued and that relationships with them can be managed actively.

Customers

The Company is customer focused which is why customer service is essential. The Company is always looking for new ways to strengthen customer services and is continuously engaging with customers to build even deeper relationships.
Community and Environment

Building trust with customers and the communities around them is important. The Company aims to facilitate positive change for the people and communities in which it interacts.

Business conduct

The company seeks to operate with high ethical standards and integrity by conducting business activities in compliance with applicable legal and regulatory requirements. The company also implements internal policies governing behaviour and conduct as well as policies that protect customers and promote better services. The Company undertakes an ongoing review of how evolving legislation, guidelines and best practises should be best reflected on topics including conduct, risk, compliance and the sustainable development of the industry.
Acting fairly between shareholders

The Company is committed to acting fairly with its shareholders and being transparent in its activities and directions.
Likely consequences of any decision in the long term

Each year, a review of the Company’s strategy is carried out for the following year and beyond as part of the budgeting process. This helps to plan ahead and also forms the basis for financial budgets and planning and other strategic plans. The Company considers the long term implications of any decisions made with its stakeholders in mind and its long term reputation.

Employee Involvement

The Company is committed to providing equal opportunity to all employees without discrimination and applied fair and equitable employment policies which ensure entry and progression within the company. Appointments are determined solely by application of job criteria and competency.

Page 3

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

GROUP STRATEGIC REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Environmental Policy

The Group will seek to minimise adverse impacts on the environment from its activities where possible, whilst continuing to address health, safety and economic issues. The group has complied with all applicable legislation and regulations.

This report was approved by the board and signed on its behalf.

M Teperson

Director

Date: 30 September 2025

Page 4

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

The directors present their report and the financial statements for the year ended 30 September 2024.

Directors

The directors who served during the year were:

M Teperson

D M Ellman

Directors' responsibilities statement

The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 the Group and of the profit or loss of the Group for that period.

In preparing these financial statements, the directors are required to:

∙select suitable accounting policies for the Group's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK 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 Group 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 the Group and to 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 the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activity of the group in the year under review has remained that of worldwide dealing in garment and textile products, in particular the wholesale distribution of protective clothing, safety wear and related equipment.

Results and dividends

The loss for the year, after taxation, amounted to £982,582 (2023 - loss £1,253,371).

A dividend of £nil (2023: £nil) was paid in the year.

Page 5

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Greenhouse gas emissions and energy consumption

Under the Companies (Directors' Report) and Limited Liability Partnership (Energy and Carbon Report) Regulations 2018, we are mandated to disclose our UK energy use and associated greenhouse gas (GHG) emissions.

The Company have assessed their GHG emissions using the 2022 emissions conversion factors, developed by Detra and BEIS, using the supplier provided meter readings for both Gas and Electricity usage and business miles have also been calculated as a cumulative for the Company. Data has been compiled at our Head Office by our Compliance and Ethics manager.

The level of greenhouse gas emission for the period, relating to activities that the business is responsible for was 179,941 kg (2023: 197,369kg) CO2e. This is the equivalent of 1,250kg (2023: 1,272kg) CO2e per employee. In line with reporting guidance the Gross CO2e has been further categorised 64,938kg (2023: 67,516kg) of CO2e from combustion of fuel for transport purposes, 10,202kg (2023: 19,570kg) of CO2e from the combustion of gas 103,094kg (2023: 111 ,913kg) of CO2e from purchased electricity.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditors, Harris & Trotter LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 30 September 2025 and signed on its behalf.

M Teperson

Director

Page 6

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GERBER GOLDSCHMIDT GROUP (UK) LIMITED

Opinion

We have audited the financial statements of Gerber Goldschmidt Group (UK) Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 30 September 2024, which comprise the Group Statement of Comprehensive Income, the Group and Company Balance Sheets, the Group Statement of Cash Flows, the Group and Company Statement of Changes in Equity and the related notes, 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 Group's and of the parent Company's affairs as at 30 September 2024 and of the Group's 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 Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council'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 Group's or the parent 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.

Page 7

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GERBER GOLDSCHMIDT GROUP (UK) LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.

Opinion 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 Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Group Strategic Report and the Directors' Report 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 Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.

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

∙adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or

∙the parent Company 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.

Page 8

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GERBER GOLDSCHMIDT GROUP (UK) LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page 5, 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 is 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 Group's and the parent 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 Group or the parent 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 an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with 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 Group financial statements.

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

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud.
The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks. Owing to the inherent limitations of an audit, there is an unavoidable risk that material misstatements in the financial statements may not be detected, even though the audit is properly planned and performed in accordance with the ISAs (UK).
• We obtained an understanding of the legal and regulatory frameworks applicable to the Group and the industry in which it operates. We determined that the following laws and regulations were most significant: FRS 102 and the Companies Act 2006.
• We obtained an understanding of how the Group is complying with those legal and regulatory frameworks by making enquiries of management.
• We challenged assumptions and judgments made by management in its significant accounting estimates;
We did not identify any key audit matters relating to irregularities, including fraud.

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 our Auditors' Report.

Page 9

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GERBER GOLDSCHMIDT GROUP (UK) LIMITED (CONTINUED)

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 an Auditors' Report 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.

Stephen Haffner (Senior Statutory Auditor)

for and on behalf of

Harris & Trotter LLP

Statutory Auditors

101 New Cavendish Street

First Floor South

London

W1W 6XH

30 September 2025

Page 10

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 30 SEPTEMBER 2024

	2024	2023
Note	£	£


Turnover	4	53,660,740	56,614,692
Cost of sales		(40,135,440)	(43,531,854)
Gross profit		13,525,300	13,082,838
Distribution costs		(4,928,886)	(1,907,050)
Administrative expenses		(9,236,521)	(11,441,009)
Other operating income	5	181,164	50,186
Operating loss	6	(458,943)	(215,035)
Interest receivable and similar income	9	25,897	40,396
Interest payable and similar expenses	10	(870,088)	(906,551)
Loss before taxation		(1,303,134)	(1,081,190)
Tax on loss	11	320,552	(172,181)
Loss for the financial year		(982,582)	(1,253,371)


Total comprehensive income for the year		(982,582)	(1,253,371)

(Loss) for the year attributable to:
Owners of the parent Company	(982,582)	(1,253,371)
	(982,582)	(1,253,371)

There were no recognised gains and losses for 2024 or 2023 other than those included in the consolidated statement of comprehensive income.

The notes on pages 20 to 37 form part of these financial statements.

Page 11

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

CONSOLIDATED BALANCE SHEET

AS AT 30 SEPTEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Intangible assets	13		97,466		123,937
Tangible assets	14		3,733,477		3,974,077
			3,830,943		4,098,014
Current assets
Stocks	16	18,088,899		19,545,019
Debtors: amounts falling due within one year	17	12,707,152		12,175,908
Cash at bank and in hand	18	524,113		548,326
		31,320,164		32,269,253
Creditors: amounts falling due within one year		(20,383,871)		(20,355,349)
Net current assets			10,936,293		11,913,904
Total assets less current liabilities			14,767,236		16,011,918
Provisions for liabilities
Deferred tax	12	(73,700)		(395,800)
Other provisions	21	(220,000)		(160,000)
			(293,700)		(555,800)
Net assets			14,473,536		15,456,118

Capital and reserves
Called up share capital	22	1,500,000	1,500,000
Revaluation reserves	23	-	347,694
Profit and loss account	23	12,973,536	13,608,424
		14,473,536	15,456,118

Page 12

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

REGISTERED NUMBER: 02853557

CONSOLIDATED BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2024

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

M Teperson

Director

Date: 30 September 2025

The notes on pages 20 to 37 form part of these financial statements.

Page 13

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

REGISTERED NUMBER: 02853557

COMPANY BALANCE SHEET

AS AT 30 SEPTEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Investments	15		18,571,053		19,652,336
			18,571,053		19,652,336
Current assets
Debtors: amounts falling due within one year	17	228,542		236,569
Cash at bank and in hand	18	268,861		206,397
		497,403		442,966
Creditors: amounts falling due within one year	19	(243,187)		(193,395)
Net current assets			254,216		249,571
Total assets less current liabilities			18,825,269		19,901,907


Net assets			18,825,269		19,901,907

Capital and reserves
Called up share capital	22	1,500,000	1,500,000
Revaluation reserves	23	17,279,626	18,360,909
Profit and loss account	23	45,643	40,998
		18,825,269	19,901,907

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

M Teperson

Director

Date: 30 September 2025

The notes on pages 20 to 37 form part of these financial statements.

Page 14

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2024

	Called up share capital	Revaluation Reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 October 2022	1,500,000	347,694	14,861,795	16,709,489

Loss for the year	-	-	(1,253,371)	(1,253,371)

At 1 October 2023	1,500,000	347,694	13,608,424	15,456,118

Loss for the year	-	-	(982,582)	(982,582)
Reclassification	-	(347,694)	347,694	-
At 30 September 2024	1,500,000	-	12,973,536	14,473,536

The notes on pages 20 to 37 form part of these financial statements.

Page 15

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

COMPANY STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 30 SEPTEMBER 2024

	Called up share capital	Revaluation reserve	Profit and loss account	Total equity
	£	£	£	£
At 1 October 2022	1,500,000	18,003,502	27,360	19,530,862

Profit for the year	-	-	13,638	13,638
Gain on revaluation of investments	-	357,407	-	357,407

At 1 October 2023	1,500,000	18,360,909	40,998	19,901,907

Profit for the year	-	-	4,645	4,645
Loss on revaluation of investments	-	(1,081,283)	-	(1,081,283)
At 30 September 2024	1,500,000	17,279,626	45,643	18,825,269

The notes on pages 20 to 37 form part of these financial statements.

Page 16

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

			2024	2023
			£	£

Cash flows from operating activities
Loss for the financial year	(982,582)	(1,253,371)
Adjustments for:
Amortisation of intangible assets	41,765	44,980
Depreciation of tangible assets	771,279	714,001
Loss on disposal of tangible assets	(41,847)	-
Interest paid	870,088	906,551
Interest received	(25,897)	(40,396)
Taxation charge	(320,552)	172,181
Decrease in stocks	1,456,121	9,466,260
(Increase)/decrease in debtors	(753,527)	49,511
Increase/(decrease) in creditors	2,249,299	(5,824,491)
Increase/(decrease) in provisions	60,000	(45,522)
Corporation tax (paid)/received	(8,365)	66,135
Net cash generated from operating activities	3,315,782	4,255,839

Cash flows from investing activities
Purchase of intangible fixed assets	(15,295)	(1,667)
Purchase of tangible fixed assets	(530,681)	(350,609)
Sale of tangible fixed assets	41,850	26,832
Interest received	25,897	40,396
Tax received	222,281	-
Net cash from investing activities	(255,948)	(285,048)
Cash flows from financing activities
Interest paid	(870,088)	(906,551)
Net cash used in financing activities	(870,088)	(906,551)
Net increase in cash and cash equivalents	2,189,746	3,064,240
Cash and cash equivalents at beginning of year	(14,283,715)	(17,347,956)
Cash and cash equivalents at the end of year	(12,093,969)	(14,283,716)

Cash and cash equivalents at the end of year comprise:
Cash at bank and in hand	524,113	548,326
Bank overdrafts	(12,618,082)	(14,832,042)

Page 17

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

		2024	2023
		£	£

	(12,093,969)	(14,283,716)

The notes on pages 20 to 37 form part of these financial statements.

Page 18

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

CONSOLIDATED ANALYSIS OF NET DEBT

FOR THE YEAR ENDED 30 SEPTEMBER 2024


At 1 October 2023	Cash flows	At 30 September 2024
£	£	£

Cash at bank and in hand	548,326	(24,213)	524,113
Bank overdrafts	(14,832,042)	2,213,960	(12,618,082)
	(14,283,716)	2,189,747	(12,093,969)

The notes on pages 20 to 37 form part of these financial statements.

Page 19

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.	General information

Gerber Goldschmidt Group (UK) Limited is a private company limited by shares, and is incorporated in England and Wales (company number: 02853557).
Its registered office is 101 New Cavendish Street, First Floor South, London, United Kingdom, W1W 6XH.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.

The following principal accounting policies have been applied:

2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 May 2015.

2.3

Going concern

The Group's business activities, together with the factors likely to affect its future development and performance are set out in the strategic report.
Having reviewed future forecasts, allowing for reasonable effects of current and future market conditions, the directors have a reasonable expectation that the company has adequate resources to continue operational existence for at least 12 months from the date of approval of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the annual financial statements.

Page 20

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Group has transferred the significant risks and rewards of ownership to the buyer;

∙the Group retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Group will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 Group 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.

2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of the Group's share of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Consolidated Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 21

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.6

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.

Depreciation is provided on the following basis:

Leasehold improvements	-	Straight line over period from acquisition until date of the next rent review
Motor vehicles	-	33% straight line
Fixtures and fittings	-	25% straight line
I.T. and office equipment	-	25% - 50% straight line
Computer equipment	-	25% straight line

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 profit or loss.

2.7

Valuation of investments

Investments in subsidiary undertakings are remeasured to their Net Asset Value at each balance sheet date.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.9

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.

Page 22

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

2.11

Financial instruments

The Group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Group would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.12

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.

Page 23

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.13

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Consolidated Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

2.14

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.15

Operating leases: the Group 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.

Page 24

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.16

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Balance Sheet. The assets of the plan are held separately from the Group in independently administered funds.

2.17

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.18

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.19

Provisions for liabilities

Provisions are made where an event has taken place that gives the Group a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Group becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 25

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

2.20

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and

∙Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.21

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 26

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

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

In the application of the Company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revisions and future periods if the revision affects both current and future periods.

Turnover

Analysis of turnover by country of destination:

					2024	2023
					£	£

United Kingdom	40,434,036	48,293,309
Rest of Europe	10,482,654	6,090,150
Rest of the world	2,744,050	2,231,233
	53,660,740	56,614,692

5.	Other operating income
		2024	2023
		£	£

Other operating income	181,164	50,186
	181,164	50,186

Amortisation of intangible assets	41,765	44,980
Depreciation of tangible assets	771,279	714,028
Gain on disposal of tangible assets	(41,846)	(91,168)
Impairment of trade debtors	78,078	112,973

Page 27

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.	Auditors' remuneration
		2024	2023
		£	£

Fees payable to the Company's auditors and their associates for the audit of the consolidated financial statements

65,000

50,000

8.	Employees
	Staff costs, including directors' remuneration, were as follows:

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Wages and salaries	5,447,605	7,348,688	-	-
Social security costs	270,212	519,865	-	-
Other pension costs	516,069	443,176	-	-
	6,233,886	8,311,729	-	-

The average monthly number of employees, including the directors, during the year was as follows:

	Group	Group	Company	Company
	2024	2023	2024	2023
	No.	No.	No.	No.

Average number of employees	152	159	2	2

9.	Interest receivable
		2024	2023
		£	£

	Other interest receivable	25,897	40,396
		25,897	40,396

Page 28

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.	Interest payable and similar expenses
		2024	2023
		£	£

	Interest on bank loans and overdrafts	870,088	906,551
		870,088	906,551

Corporation tax
Current tax on profits for the year	1,548	(223,619)
	1,548	(223,619)

Total current tax	1,548	(223,619)

Deferred tax
Origination and reversal of timing differences	(322,100)	395,800
Total deferred tax	(322,100)	395,800


	Tax on (loss)/profit	(320,552)	172,181

Page 29

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

11.Taxation (continued)

Loss on ordinary activities before tax

(1,303,134)

(1,081,190)

Loss on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 25%)	(325,784)	(270,298)
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	18,584	2,964
Capital allowances for year in excess of depreciation	-	3,440
Adjustments to tax charge in respect of prior periods	(17,666)	(123,112)
Short-term timing difference leading to an increase (decrease) in taxation	-	291,444
Unrelieved tax losses carried forward	-	151,799
Adjustment in respect of prior periods	-	112,860
Movement in amount unprovided	4,314	3,084
Total tax charge for the year	(320,552)	172,181

12.	Deferred taxation
	Group

	2024	2023
	£	£

At beginning of year	(395,800)	-
Charged to profit or loss	322,100	(395,800)
At end of year	(73,700)	(395,800)

Page 30

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

12.Deferred taxation (continued)

		Group	Group
		2024	2023
		£	£

Accelerated capital allowances	(513,800)	(555,100)
Short-term timing differences	2,200	17,100
Unrelieved losses carried forward	437,900	142,200
	(73,700)	(395,800)

13.	Intangible assets
	Group

	Product Certification	Trademarks	Goodwill	Total
	£	£	£	£
Cost
At 1 October 2023	128,200	17,625	200,911	346,736
Additions	15,295	-	-	15,295
At 30 September 2024	143,495	17,625	200,911	362,031
Amortisation
At 1 October 2023	102,253	-	120,547	222,800
Charge for the year on owned assets	21,674	-	20,091	41,765
At 30 September 2024	123,927	-	140,638	264,565
Net book value
At 30 September 2024	19,568	17,625	60,273	97,466
At 30 September 2023	25,947	17,625	80,364	123,936

Page 31

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.	Tangible fixed assets
	Group

	Leasehold improvements	Plant and equipment	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 October 2023	3,846,361	2,194,174	389,033	6,429,568
Additions	210,626	243,120	76,935	530,681
Disposals	-	(100,751)	(52,969)	(153,720)
At 30 September 2024	4,056,987	2,336,543	412,999	6,806,529
Depreciation
At 1 October 2023	1,073,884	1,201,972	179,634	2,455,490
Charge for the year on owned assets	420,027	241,801	109,451	771,279
Disposals	-	(100,750)	(52,967)	(153,717)
At 30 September 2024	1,493,911	1,343,023	236,118	3,073,052
Net book value
At 30 September 2024	2,563,076	993,520	176,881	3,733,477
At 30 September 2023	2,772,477	992,202	209,399	3,974,078

The net book value of land and buildings may be further analysed as follows:
	2024	2023
	£	£

Long leasehold	2,563,076	2,772,477
	2,563,076	2,772,477

Page 32

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

15.	Fixed asset investments

	Company

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 October 2023	19,652,336
	Revaluations	(1,081,283)
	At 30 September 2024	18,571,053

Direct subsidiary undertakings
The following were direct subsidiary undertakings of the Company:
Name	Registered office	Principal activity	Class of shares	Holding

J Gerber (Trading) Limited	101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH -	Dormant -	Ordinary -	100% -
Beeswift Limited	Unit 1 The Hub, Nobel Way, Birmingham, England, B6 7EU -	Distribution of protective clothing -	Ordinary -	100% -
J Gerber & Company Limited	101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH -	Dormant -	Ordinary -	100% -
GGG Investments Limited	101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH -	Dormant -	Ordinary -	100% -
Gerber Goldschmidt Group International Limited	101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH -	Dormant -	Ordinary -	100% -

Page 33

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Indirect subsidiary undertaking
The following was an indirect subsidiary undertaking of the Company:
Name	Registered office	Principal activity	Class of shares	Holding

Beeswift B.V.

Twekkeler ES 32, 7547 SM, Enschede, Netherlands

Distribution of protective clothing

Ordinary

100%

16.	Stocks
		Group	Group
		2024	2023
		£	£

Finished goods and goods for resale	18,088,899	19,545,019
	18,088,899	19,545,019

The difference between purchase price or production cost of stocks and their replacement cost is not material.

17.

Debtors

Group	Group	Company	Company
2024	2023	2024	2023
£	£	£	£


Trade debtors	11,230,277	10,002,474	-	-
Amounts owed by group undertakings	-	-	12,075	24,150
Other debtors	966,207	921,220	216,467	212,419
Prepayments and accrued income	510,668	1,252,214	-	-
	12,707,152	12,175,908	228,542	236,569

18.	Cash and cash equivalents
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Cash at bank and in hand	524,113	548,326	268,861	206,397
Less: bank overdrafts	(12,618,082)	(14,832,042)	-	-
	(12,093,969)	(14,283,716)	268,861	206,397

Page 34

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

19.	Creditors: Amounts falling due within one year
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Bank overdrafts	12,618,082	14,832,042	-	-
Trade creditors	6,295,236	3,850,001	79,854	23,244
Amounts owed to group undertakings	-	-	152,126	152,126
Corporation tax	1,548	8,365	1,548	8,365
Other taxation and social security	476,514	453,945	-	-
Accruals and deferred income	992,491	1,210,996	9,659	9,660
	20,383,871	20,355,349	243,187	193,395

The bank overdraft is secured by a fixed and floating charge over the Group's assets and undertakings dated 26th May 2022.

20.	Financial instruments
		Group	Group	Company	Company
		2024	2023	2024	2023
		£	£	£	£

Financial assets
Financial assets measured at fair value through profit or loss	524,113	548,326	268,861	206,397
Financial assets that are debt instruments measured at amortised cost	12,189,914	11,497,363	228,542	236,569
	12,714,027	12,045,689	497,403	442,966

	Financial liabilities
	Financial liabilities measured at amortised cost	(20,383,871)	(20,355,349)	(243,187)	(189,546)

	Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.
	Financial assets that are debt instruments measured at amortised cost comprise trade and other debtors and amounts owed by group undertakings.
	Financial liabilities measured at amortised cost comprise trade creditors, other creditors, bank overdrafts, amounts owed to group undertakings, tax liabilities and accruals.

Page 35

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

21.	Provisions
	Group

		Dilapidations
		£

	At 1 October 2023	160,000
	Charged to profit or loss	60,000
	At 30 September 2024	220,000

Page 36

GERBER GOLDSCHMIDT GROUP (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

22.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

1,500,000 (2023 - 1,500,000) Ordinary shares of £1.00 each	1,500,000	1,500,000

23.

Reserves

Revaluation reserve

Includes non-distributable profits, which relate to unrealised gains, net of related tax, on revalued investments.

Profit and loss account

Includes all current and prior period retained profits and losses.

24.	Commitments under operating leases
	At 30 September 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		Group	Group
		2024	2023
		£	£

Not later than 1 year	931,964	795,879
Later than 1 year and not later than 5 years	3,952,419	3,441,377
Later than 5 years	1,189,487	2,081,603
	6,073,870	6,318,859

25.	Ultimate Parent Undertaking & Controlling party

The ultimate parent undertaking and controlling party is Gerber Global Capital LLC incorporated in the United States of America.
The largest group of undertakings for which Group accounts are drawn up is GGG Holdings Cooperatief U.A. incorporated in the Netherlands and copies of the group accounts can be obtained from Postbox 29718, 2502 LS, The Hague, Netherlands.

Page 37