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Registration number: 03585994

Sortimo International Limited
Annual Report and Financial Statements
for the Year Ended 31 December 2025

Sortimo International Limited

Contents

Company Information | 1
Strategic Report | 2
Director's Report | 3
Statement of Director's Responsibilities | 4
Independent Auditor's Report | 5 to 8
Statement of Comprehensive Income | 9
Statement of Financial Position | 10
Statement of Changes in Equity | 11
Statement of Cash Flows | 12
Notes to the Financial Statements | 13 to 25

Sortimo International Limited

Company Information

Director | Mr R Braun

Company secretary | Mr C Jones

Registered office | 26-28 Southernhay East Exeter Devon EX1 1NS

Auditors | Westcotts (SW) LLP Plym House 3 Longbridge Road Plymouth Marsh Mills Devon PL6 8LT

Sortimo International Limited

Strategic Report for the Year Ended 31 December 2025

The director presents his strategic report for the year ended 31 December 2025.

Fair review of the business

In the light of the ongoing challenges associated with the current economic climate the company was pleased with the results for the year and with the financial position at the year end.
The company recorded a 29% decrease in turnover to £17,863,373 (2024 - £25,171,712) due to postponed project business into 2026. The gross profit margin increased to 26,9 % (2024 – 23.5%). Pre-tax net profit decreased to £843,034 (2024 - £2,225,224).

Principal risks and uncertainties

The company faces business risks and uncertainties associated with the competitive market place within which it trades and those inherent in the current economic climate. In view of this the company constantly monitors both existing and potential new markets to maximise sales potential. The company also take advantage of buying opportunities, where appropriate, to obtain the most favourable terms and to minimise costs.

Approved and authorised by the director on 16 February 2026

......................................... Mr R Braun Director

Sortimo International Limited

Director's Report for the Year Ended 31 December 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Director of the company

The director who held office during the year was as follows:

Mr R Braun

Financial instruments
The company's principal financial instruments comprise of a bank current account balance, trade debtors, trade creditors and finance lease contracts. The main purpose of these instruments is to provide funds for the company's operations and to finance the company's trading.

Objectives and policies

The company's continuing key objective is to maximize profits which is in line with the aims of its parent. The main strategies adopted to achieve this objective are the maximization of sales and gross margins, supported by effective cost management.

Financial risk management

The company’s operations are exposed to a variety of financial risks.
There is a general risk that customers will not pay for the products that they have purchased. This risk is managed by company policies concerning the amount of credit offered to customers and then by the regular assessment of amounts outstanding to minimise exposure to potential bad debts.

Future developments

The director is confident in the company's ability to withstand the impact of the challenges associated with the current economic climate.
The company will look to continue its policy of providing the customer with an extensive range of quality products.

Disclosure of information to the auditors

The director has taken 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. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.

Approved and authorised by the director on 16 February 2026

Mr R Braun Director

Sortimo International Limited

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is 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 director is required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Sortimo International Limited

Independent Auditor's Report to the Members of Sortimo International Limited

Opinion

We have audited the financial statements of Sortimo International Limited (the 'company') for the year ended 31 December 2025, which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows, 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 2025 and of its profit 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 auditor 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 director's 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 original financial statements were authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Sortimo International Limited

Independent Auditor's Report to the Members of Sortimo International Limited (continued)

Opinion on other matter 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 Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our 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 and the Director's Report.

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 director's remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the Statement of Directors Responsibilities, the director is 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 director determines 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 director is 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 director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor 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 auditor’s 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 financial statements.

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

• | We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience and through discussion with the directors and other management. We communicated identified laws and regulations throughout our team, and remained alert to any indications of non-compliance throughout the audit.

Sortimo International Limited

Independent Auditor's Report to the Members of Sortimo International Limited (continued)

• | The company is subject to laws and regulations that govern the preparation of the financial statements, including financial reporting legislation, and other companies legislation. The company is also subject to other laws and regulations where the consequences of non-compliance could have a material impact on the amounts or disclosures within the financial statements, including employment, anti-bribery, anti-money laundering and certain aspects of companies legislation.
• | Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In any audit, there remains a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
| As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also:
• | Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• | Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
• | Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.
• | Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.
• | Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
| We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Sortimo International Limited

Independent Auditor's Report to the Members of Sortimo International 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 auditor’s 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.

......................................
Shona Godefroy ACCA (Senior Statutory Auditor)
For and on behalf of Westcotts (SW) LLP, Statutory Auditor
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

23 February 2026

Sortimo International Limited

Statement of Comprehensive Income for the Year Ended 31 December 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 17,863,373 | 25,171,712
Cost of sales |  | (13,066,400) | (19,262,776)
Gross profit |  | 4,796,973 | 5,908,936
Administrative expenses |  | (3,943,841) | (3,700,788)
Other operating income | 4 | 30,138 | 25,074
Operating profit | 6 | 883,270 | 2,233,222
Other interest receivable and similar income | 7 | - | 1,375
Interest payable and similar expenses | 8 | (40,236) | (9,373)
|  | (40,236) | (7,998)
Profit before tax |  | 843,034 | 2,225,224
Tax on profit | 11 | (199,572) | (560,485)
Profit for the financial year |  | 643,462 | 1,664,739

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Sortimo International Limited

(Registration number: 03585994)
Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 12 | 244,645 | 191,336
Current assets |  |  |
Stocks | 14 | 2,050,670 | 2,124,127
Debtors | 15 | 4,675,732 | 3,168,612
Cash at bank and in hand |  | 593,993 | 2,249,138
|  | 7,320,395 | 7,541,877
Creditors: Amounts falling due within one year | 17 | (1,375,593) | (2,249,937)
Net current assets |  | 5,944,802 | 5,291,940
Total assets less current liabilities |  | 6,189,447 | 5,483,276
Creditors: Amounts falling due after more than one year | 17 | (107,889) | (58,293)
Provisions for liabilities | 18 | (58,771) | (45,658)
Net assets |  | 6,022,787 | 5,379,325
Capital and reserves |  |  |
Called up share capital |  | 3,300,000 | 3,300,000
Profit and loss account | 20 | 2,722,787 | 2,079,325
Shareholders' funds |  | 6,022,787 | 5,379,325

Approved and authorised by the director on 16 February 2026

Mr R Braun Director

Sortimo International Limited

Statement of Changes in Equity for the Year Ended 31 December 2025

| Share capital £ | Profit and loss account £ | Total £
At 1 January 2025 | 3,300,000 | 2,079,325 | 5,379,325
Profit for the year | - | 643,462 | 643,462
At 31 December 2025 | 3,300,000 | 2,722,787 | 6,022,787

| Share capital £ | Profit and loss account £ | Total £
At 1 January 2024 | 3,300,000 | 414,586 | 3,714,586
Profit for the year | - | 1,664,739 | 1,664,739
At 31 December 2024 | 3,300,000 | 2,079,325 | 5,379,325

Sortimo International Limited

Statement of Cash Flows for the Year Ended 31 December 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 643,462 | 1,664,739
Adjustments to cash flows from non-cash items |  |  |
Depreciation and amortisation | 6 | 101,397 | 85,093
Profit on disposal of tangible assets | 5 | (30,263) | (26,046)
Finance income | 7 | - | (1,375)
Finance costs | 8 | 40,236 | 9,373
Income tax expense | 11 | 199,572 | 560,485
|  | 954,404 | 2,292,269
Working capital adjustments |  |  |
Decrease in stocks | 14 | 73,457 | 392,116
Increase in debtors | 15 | (1,323,576) | (1,086,906)
Decrease in creditors | 17 | (524,270) | (54,619)
Cash generated from operations |  | (819,985) | 1,542,860
Income taxes paid | 11 | (736,557) | (345,042)
Net cash flow from operating activities |  | (1,556,542) | 1,197,818
Cash flows from investing activities |  |  |
Interest received | 7 | - | 1,375
Acquisitions of tangible assets |  | (162,644) | (114,919)
Proceeds from sale of tangible assets |  | 38,201 | 28,789
Net cash flows from investing activities |  | (124,443) | (84,755)
Cash flows from financing activities |  |  |
Interest paid | 8 | (40,236) | (9,373)
Payments to finance lease creditors |  | 66,076 | 36,082
Net cash flows from financing activities |  | 25,840 | 26,709
Net (decrease)/increase in cash and cash equivalents |  | (1,655,145) | 1,139,772
Cash and cash equivalents at 1 January |  | 2,249,138 | 1,109,366
Cash and cash equivalents at 31 December |  | 593,993 | 2,249,138

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

The principal place of business is:
11-17 Ravenhurst Court
Birchwood
Warrington
Cheshire
WA3 6PN

Principal activity

The principal activity of the company is the sale and installation of motor vehicle accessories

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 .

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred in respect of the transactions can be measured reliably.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Long leasehold property | 10 years straight line
Plant and machinery | 25% straight line
Fixtures, fittings and equipment | 20% straight line
Motor vehicles | 25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.
Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3 | Turnover

The analysis of the company's turnover for the year by market is as follows:

| 2025 £ | 2024 £
UK | 17,863,373 | 25,108,006
Europe | - | 63,706
| 17,863,373 | 25,171,712

4 | Other operating income

The analysis of the company's other operating income for the year is as follows:

| 2025 £ | 2024 £
Miscellaneous other operating income | 30,138 | 25,074

5 | Other gains and losses

The analysis of the company's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Gain on disposal of tangible assets | 30,263 | 26,046

6 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 101,397 | 85,093
Foreign exchange losses | 1,234 | 9,140
Operating lease expense - property | 1,323,427 | 1,037,763
Operating lease expense - other | 44,409 | 40,599
Profit on disposal of property, plant and equipment | (30,263) | (26,046)

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

7 | Other interest receivable and similar income

| 2025 £ | 2024 £
Other finance income | - | 1,375

8 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest on obligations under finance leases and hire purchase contracts | 9,406 | 5,538
Interest expense on other finance liabilities | 30,830 | 3,835
| 40,236 | 9,373

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

9 | Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 2,636,906 | 2,727,401
Social security costs | 282,958 | 251,235
Other employee expense | 57,352 | 67,537
| 2,977,216 | 3,046,173

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Production | 33 | 29
Administration and support | 6 | 6
Sales | 10 | 10
Other departments | 1 | 1
| 50 | 46

10 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the financial statements | 19,150 | 18,350

11 | Taxation

Tax charged/(credited) in the statement of comprehensive income

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

11 | Taxation (continued)

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 202,928 | 554,618
UK corporation tax adjustment to prior periods | (16,469) | -
| 186,459 | 554,618
Deferred taxation |  |
Arising from origination and reversal of timing differences | 13,113 | 5,867
Tax expense in the income statement | 199,572 | 560,485

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

11 | Taxation (continued)

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2024 - the same as the standard rate of corporation tax in the UK) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 843,034 | 2,225,224
Corporation tax at standard rate | 210,759 | 556,306
Tax decrease from effect of capital allowances and depreciation | (9,837) | (980)
Effect of expense not deductible in determining taxable profit (tax loss) | (1,350) | 5,159
Total tax charge | 199,572 | 560,485

12 | Tangible assets

| Long leasehold property £ | Fixtures and fittings and equipment £ | Plant and machinery £ | Motor vehicles £ | Total £
Cost or valuation
At 1 January 2025 | 265,501 | 245,912 | 77,567 | 384,156 | 973,136
Additions | - | 6,310 | - | 156,334 | 162,644
Disposals | - | - | (30,762) | (92,352) | (123,114)
At 31 December 2025 | 265,501 | 252,222 | 46,805 | 448,138 | 1,012,666
Depreciation
At 1 January 2025 | 238,256 | 232,197 | 77,567 | 233,780 | 781,800
Charge for the year | 8,956 | 9,187 | - | 83,254 | 101,397
Eliminated on disposal | - | - | (30,762) | (84,414) | (115,176)
At 31 December 2025 | 247,212 | 241,384 | 46,805 | 232,620 | 768,021
Carrying amount
At 31 December 2025 | 18,289 | 10,838 | - | 215,518 | 244,645
At 31 December 2024 | 27,245 | 13,715 | - | 150,376 | 191,336

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

12 | Tangible assets (continued)

Contractual commitments for the acquisition of tangible assets

Contractual commitments for the acquisition of tangible assets were as follows:

| 2025 £ | 2024 £
Motor vehicles | 215,518 | 150,376

13 | Investment properties

| 2025 £

There has been no valuation of investment property by an independent valuer.

14 | Stocks

| 2025 £ | 2024 £
Raw materials and consumables | 5,862 | 2,751
Finished goods and goods for resale | 2,044,808 | 2,121,376
| 2,050,670 | 2,124,127

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

15 | Debtors

Current | Note | 2025 £ | 2024 £
Trade debtors |  | 2,685,094 | 2,767,115
Amounts owed by related parties | 23 | 1,444,949 | 63,706
Prepayments |  | 362,145 | 337,791
Income tax asset | 11 | 183,544 | -
|  | 4,675,732 | 3,168,612

16 | Cash and cash equivalents

| 2025 £ | 2024 £
Cash at bank | 593,993 | 2,249,138

17 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 21 | 49,189 | 32,709
Trade creditors |  | 936,853 | 778,011
Amounts due to related parties | 23 | - | 106,348
Social security and other taxes |  | 155,258 | 682,160
Other payables |  | 16,950 | 16,623
Accruals |  | 217,343 | 267,532
Corporation tax liability | 11 | - | 366,554
|  | 1,375,593 | 2,249,937
Due after one year |  |  |
Loans and borrowings | 21 | 107,889 | 58,293

18 | Provisions for liabilities

| Deferred tax £ | Total £
At 1 January 2025 | 45,658 | 45,658
Additional provisions | 13,113 | 13,113
At 31 December 2025 | 58,771 | 58,771

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

19 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary share class 1 of £1 each | 3,300,000 | 3,300,000 | 3,300,000 | 3,300,000

20 | Reserves

Profit and loss account

This reserve records retained earnings and accumulated losses.

21 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Finance lease liabilities | 107,889 | 58,293

Current loans and borrowings

| 2025 £ | 2024 £
Finance lease liabilities | 49,189 | 32,709

22 | Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 241,750 | 308,142
Later than one year and not later than five years | 577,462 | 843,649
| 819,212 | 1,151,791

The amount of non-cancellable operating lease payments recognised as an expense during the year was £1,323,427 (2024 - £1,037,762).

Sortimo International Limited

Notes to the Financial Statements for the Year Ended 31 December 2025 (continued)

23 | Related party transactions

Summary of transactions with parent

The company has taken advantage of the related party disclosure exemptions within FRS102 due to the fact that it is a wholly owned subsidiary of Sortimo Grundstücks und Beteiligungs GmbH.

24 | Parent and ultimate parent undertaking

The company's immediate parent is Sortimo International GmbH, incorporated in Germany.
The ultimate parent is Sortimo Grundstücks und Beteiligungs GmbH, incorporated in Germany.
The most senior parent entity producing publicly available financial statements is Sortimo Grundstücks und Beteiligungs GmbH. These financial statements are available upon request from Dreilindenstrasse 5, 86441, Zusmarshausen, Germany
The ultimate controlling party is Mr R Braun.