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REGISTERED NUMBER: 01871974 (England and Wales)

| SWINKELS U.K. LIMITED |

| AUDITED FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

SWINKELS U.K. LIMITED (REGISTERED NUMBER: 01871974)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

| Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |  | to |  | 6

SWINKELS U.K. LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | Mr C A S Swinkels

| Mr P J M Swinkels

| Mr H J J In der Rieden

| SECRETARY: | Mr S Holland

| REGISTERED OFFICE: | Shire House

| Birmingham Road

| Lichfield

| Staffordshire

| WS14 6BW

| REGISTERED NUMBER: | 01871974 (England and Wales)

| AUDITORS: | Johnson Tidsall Limited

| Chartered Accountants

| & Statutory Auditor

| 81 Burton Road

| Derby

| Derbyshire

| DE1 1TJ

SWINKELS U.K. LIMITED (REGISTERED NUMBER: 01871974)

BALANCE SHEET

31 DECEMBER 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,566 |  | 10,826 |  |

CURRENT ASSETS

Stocks | 5 | 389,898 |  | 297,931 |  |

Debtors | 6 | 5,944,686 |  | 5,589,675 |  |

6,334,584 |  | 5,887,606 |  |

CREDITORS

Amounts falling due within one year | 7 | 3,245,219 |  | 2,935,056 |  |

NET CURRENT ASSETS | 3,089,365 |  | 2,952,550 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,091,931 |  | 2,963,376 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 100 |  | 100 |  |

Retained earnings | 3,091,831 |  | 2,963,276 |  |

SHAREHOLDERS' FUNDS | 3,091,931 |  | 2,963,376 |  |

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2026 and were signed on its behalf by:

Mr H J J In der Rieden - Director

SWINKELS U.K. LIMITED (REGISTERED NUMBER: 01871974)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Swinkels U.K. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| The presentation currency of the financial statements is the Pound Sterling (£).

| On 1st July 2025, the company changed its name from Swinkels Family Brewers UK ;Limited.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Significant judgements and estimates

| Agent versus principal

| The Company is deemed as the agent for all private label sales.

| Swinkels Family Brewers Holdings NV negotiate all sales contracts, provide all products and take on both the credit and stock risks associated with the sale.

| Swinkels U.K Limited provide UK based logistical and invoicing support only.

| Debtor recoverability

| The majority of the trade debtors outstanding at 31 December 2025 relate to its trading activities with its key partners and full recovery is expected, as in previous years. Not all balances outstanding at the date of approval of the financial statements were within the normal commercial terms, these amount to £104,118, however full recovery is expected based on the working relationships with these customers.

| Turnover

| The Company acts as Principal for the sale of branded products. Turnover for these products represents the invoiced amount of goods provided, exclusive of value added tax. Turnover is recognised based on confirmed deliveries to customers, when the risks and rewards associated with the underlying products have been substantially transferred.

| Turnover is recognised net of customer rebates and discounts.

| The Company also acts as sales agent for its parent company with regards to private label product sales. Turnover for these products represents the commission earned on amounts invoiced to customers in the ordinary course of business.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Fixtures and fittings | - | 20% on cost

| Motor vehicles | - | 20% on cost

| Computer equipment | - | 20% on cost

| Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SWINKELS U.K. LIMITED (REGISTERED NUMBER: 01871974)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Payments made under operating leases are recognised in the profit and loss account on a straight line basis over the term of the lease.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Trade debtors

| Trade receivables are initially recognised at fair value and subsequently measured at amortised cost less allowances for situations where recovery is doubtful. Such allowances are based on an individual assessment of each receivable.

| Trade creditors

| The price that the company pays suppliers for goods is determined through negotiations with suppliers regarding both the list price and a variety of rebates and discounts.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 16 (2024 - 16 ) .

SWINKELS U.K. LIMITED (REGISTERED NUMBER: 01871974)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

4. | TANGIBLE FIXED ASSETS

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2025 | 65,070 |  | 21,799 |  | 60,376 |  | 147,245 |  |

| Disposals | (65,070 | ) | - |  | (55,999 | ) | (121,069 | ) |

| At 31 December 2025 | - |  | 21,799 |  | 4,377 |  | 26,176 |  |

| DEPRECIATION

| At 1 January 2025 | 61,833 |  | 15,623 |  | 58,963 |  | 136,419 |  |

| Charge for year | 910 |  | 4,360 |  | 663 |  | 5,933 |  |

| Eliminated on disposal | (62,743 | ) | - |  | (55,999 | ) | (118,742 | ) |

| At 31 December 2025 | - |  | 19,983 |  | 3,627 |  | 23,610 |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  | 1,816 |  | 750 |  | 2,566 |  |

| At 31 December 2024 | 3,237 |  | 6,176 |  | 1,413 |  | 10,826 |  |

5. | STOCKS

2025 | 2024 |

£ | £ |

| Finished goods | 389,898 |  | 297,931 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 3,159,748 |  | 3,568,625 |  |

| Amounts owed by group undertakings | 2,669,970 |  | 952,073 |  |

| Prepayments and accrued income | 114,968 |  | 1,068,977 |  |

5,944,686 |  | 5,589,675 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 632,515 |  | 250,066 |  |

| Amounts owed to group undertakings | 1,563,331 |  | 1,835,408 |  |

| Corporation tax | 29,167 |  | 35,084 |  |

| Social security and other taxes | 6,071 |  | 25,544 |  |

| VAT | 605,797 |  | 492,200 |  |

| Accruals and deferred income | 408,338 |  | 296,754 |  |

3,245,219 |  | 2,935,056 |  |

SWINKELS U.K. LIMITED (REGISTERED NUMBER: 01871974)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

8. | LEASING AGREEMENTS

| Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 | 2024 |

£ | £ |

| Within one year | 21,250 |  | 18,000 |  |

| Between one and five years | - |  | 30,000 |  |

21,250 |  | 48,000 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Richard Minns FCA (Senior Statutory Auditor)

| for and on behalf of Johnson Tidsall Limited

11. | RELATED PARTY DISCLOSURES

| The company has not disclosed any transactions or balances with its holding company, Swinkels Family Brewers Holdings N.V, as they have all been conducted under normal commercial terms.

12. | ULTIMATE CONTROLLING PARTY

| The Company's immediate parent company is Swinkels Family Brewers Holdings N.V and the ultimate controlling party is Stichting Administratiekantoor Ambrig.

| The largest group in which the results of the Company are consolidated is that headed by Swinkels Family Brewers Holdings N.V, incorporated in the Netherlands. No other group financial statements include the results of the Company. The consolidated financial statements of these groups are available to the public and may be obtained from the Chamber of Commerce, PO Box 426, 5600 AK, Eindhoven, The Netherlands.