ACCOUNTT - 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:

Registered number: 05318228

Allentown UK Limited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2024

Allentown UK Limited

Registered number: 05318228

Balance sheet

As at 31 December 2024

		2024		2023
Note		£		£


Current assets
Stocks		-		28,631
Debtors: amounts falling due within one year	4	59,474		59,385
Cash at bank and in hand		-		27,322
		59,474		115,338
Creditors: amounts falling due within one year	5	(1,736,485)		(1,234,342)
Net current liabilities			(1,677,011)		(1,119,004)
Total assets less current liabilities			(1,677,011)		(1,119,004)

Net liabilities			(1,677,011)		(1,119,004)

Capital and reserves
Called up share capital	44,013	44,013
Profit and loss account	(1,721,024)	(1,163,017)
	(1,677,011)	(1,119,004)

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 income and retained earnings 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:

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

M D Lecher

Director

Date: 22 December 2025

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

Page 1

Allentown UK Limited

Notes to the financial statements

For the year ended 31 December 2024

1.	General information

The company is a private company limited by share capital in England and Wales.
The registered number is 05318228.

The address of the registered office is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex
PO20 7AJ.

The principal place of business in the year was Unit 3 Nimrod Industrial Estate, Nimrod Way, Elgar Road, Reading.

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 following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis. The company's ability to continue to trade is dependant upon the support of the group. If this assumption proves to be inappropriate, adjustments may have to be made to adjust the values of assets to their recoverable amounts and to provide for any further liabilities which might arise.

Page 2

Allentown UK Limited

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.3

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:

Sale of goods

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

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

∙the Company 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 Company 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 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.

2.4

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 weighted average 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.

2.5

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.

2.6

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.

Page 3

Allentown UK Limited

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

2.8

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.

2.9

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.

Page 4

Allentown UK Limited

Notes to the financial statements

For the year ended 31 December 2024

2.Accounting policies (continued)

2.10

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.

2.11

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.12

Interest income

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

2.13

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 balance sheet date in the countries where the Company operates and generates 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; and

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

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.

Employees

The average monthly number of employees, including directors, during the year was 3 (2023: 4).

Page 5

Allentown UK Limited

Notes to the financial statements

For the year ended 31 December 2024

Debtors

					2024	2023
					£	£


Trade debtors	-	7,778
Amounts owed by group undertakings	28,338	8,632
Other debtors	29,747	29,911
Prepayments and accrued income	1,389	13,064
	59,474	59,385

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

Trade creditors	44,725	55,471
Amounts owed to group undertakings	1,503,811	1,139,192
Other creditors	4,513	7,595
Accruals and deferred income	183,436	32,084
	1,736,485	1,234,342

	Not later than 1 year	-	35,120
		-	35,120

7.	Related party transactions
	The Company has taken advantage of the exemption in Section 33 of FRS102 'Related Party Disclosures' from disclosing transactions with wholly owned members of the Group.

8.	Controlling party

Allentown LLC is the parent company of Allentown UK Limited. The registered office of Allentown LLC is 165 Route 526 Allentown, NJ 08501, USA.

The ultimate parent company of Allentown UK Limited is Aterian Investment Partners UGP IV, LLC, based in the USA. The registered address is 550 Fifth Avenue, 8th Floor, New York, NY 10036, USA.

Page 6

Allentown UK Limited

Notes to the financial statements

For the year ended 31 December 2024

9.	Auditor's information

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

The qualification in the audit report was as follows:

Due to a lack of staff in the UK we were unable to observe the counting of physical inventories at the end of 31 December 2023. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2023, which are included in the comparative balance sheet at £28,631 by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount at 31 December 2023 was necessary or whether there was any consequential effect on the cost of sales for the year ended 31 December 2024. Our audit opinion on the financial statements for the year ended 31st December 2024 was modified accordingly.

The audit report was signed on 22 December 2025 by Kelly Goodwin BA(Hons) ACA (Senior statutory auditor) on behalf of Kreston Reeves Audit LLP.

Page 7