REGISTERED NUMBER: 04199432 (England and Wales)

WAS VEHICLES (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

8

DIRECTORS:

Mr D Sullivan

Mr R Muller

REGISTERED OFFICE:

Johnson Tidsall

81 Burton Road

Derby

Derbyshire

DE1 1TJ

REGISTERED NUMBER:

04199432 (England and Wales)

AUDITORS:

Johnson Tidsall Limited

Chartered Accountants

& Statutory Auditor

81 Burton Road

Derby

Derbyshire

DE1 1TJ

BANKERS:

Commerzbank

30 Gresham Street

London

EC2P 2XY

FIXED ASSETS

Intangible assets

4

2,358,184

2,455,973

Tangible assets

5

39,032

50,581

Investments

6

1

1

2,397,217

2,506,555

CURRENT ASSETS

Stocks

7

594,988

533,276

Debtors

8

1,041,838

550,690

Cash at bank

435,808

115,620

2,072,634

1,199,586

CREDITORS

Amounts falling due within one year

9

828,389

506,965

NET CURRENT ASSETS

1,244,245

692,621

TOTAL ASSETS LESS CURRENT LIABILITIES

3,641,462

3,199,176

CREDITORS

Amounts falling due after more than one year

10

(2,447,653

)

(2,458,082

)

PROVISIONS FOR LIABILITIES

(8,532

)

(11,319

)

NET ASSETS

1,185,277

729,775

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Retained earnings

1,184,277

728,775

SHAREHOLDERS' FUNDS

1,185,277

729,775

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 22 April 2026 and were signed on its behalf by:

Mr D Sullivan - Director

1.	STATUTORY INFORMATION

WAS Vehicles (UK) 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 (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about WAS Vehicles (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and 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.

The following judgements have been made in the process of applying the company's accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Amortisation - £97,789 (2024: £97,789) management review the policy and determine its appropriateness based on historic experience and the current expectations of useful life

Work in progress - £112,216 (2024: £73,752) recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the costs of work performed to date, including an hourly labour rate.

Carrying value of stock - when calculating the stock provision, management considers the nature and condition of stock, together with the age of stock, and sales activity. The stock provision is £nil.

Recoverability of amounts owed by customers - amounts owed by customers are reviewed weekly for collectability and a reserve is recorded if, in the Directors' judgement, the collectability of the balance is uncertain.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of parts is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Pre-converted vehicles are typically acquired and sold within the same accounting period. Revenue from the sale of a pre-converted vehicle is recognised when the vehicle is invoiced to the customer, reflecting the stage of completion of the conversion process

Turnover from the sale of converted vehicles is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on the delivery of the vehicle to the customer.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from warranty services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the costs of work performed to date, including an hourly labour rate.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The Customer Base intangible asset is being amortised evenly over its useful economic life of 30 years.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Creditors

Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs. They are subsequently measured at amortised cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

2,933,665

AMORTISATION

At 1 January 2025

477,692

Charge for year

97,789

At 31 December 2025

575,481

NET BOOK VALUE

At 31 December 2025

2,358,184

At 31 December 2024

2,455,973

The other intangible assets represent the Customer Base in respect of the purchase of VIA Limited in February 2020.

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

4,850

80,723

22,846

93,275

201,694

Additions

-

2,500

-

-

2,500

At 31 December 2025

4,850

83,223

22,846

93,275

204,194

DEPRECIATION

At 1 January 2025

2,910

77,379

22,846

47,978

151,113

Charge for year

485

2,240

-

11,324

14,049

At 31 December 2025

3,395

79,619

22,846

59,302

165,162

NET BOOK VALUE

At 31 December 2025

1,455

3,604

-

33,973

39,032

At 31 December 2024

1,940

3,344

-

45,297

50,581

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

and 31 December 2025

1

NET BOOK VALUE

At 31 December 2025

1

At 31 December 2024

1

7.

STOCKS

2025

2024

£

£

Finished goods

594,988

533,276

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

429,176

323,388

Amounts owed by group undertakings

532,833

177,687

Other debtors

2,410

8,310

VAT

35,020

-

Prepayments and accrued income

42,399

41,305

1,041,838

550,690

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

10,428

16,198

Trade creditors

501,532

264,938

Amounts owed to group undertakings

3,486

-

Corporation tax

83,515

33,237

Social security and other taxes

13,389

-

VAT

-

34,023

Other creditors

6,575

6,502

Accruals and deferred income

209,464

152,067

828,389

506,965

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

10,616

21,045

Amounts owed to group undertakings

2,437,037

2,437,037

2,447,653

2,458,082

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

21,044

37,243

The hire purchase contracts are secured against the motor vehicles in fixed assets.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

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

The Report of the Auditors was unqualified.

David Mellor FCA (Senior Statutory Auditor)

for and on behalf of Johnson Tidsall Limited

14.	OTHER FINANCIAL COMMITMENTS

As at 31 December 2025 the company had financial commitments under operating leases of £29,262 (2024: £58,524) in relation to property and £nil (2024: £589) in relation to equipment.

As at 31 December 2025 the company had financial commitments under hire purchase agreements of £21,044 (2024: £37,243) in relation to motor vehicles included in fixed assets.

15.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

WAS Vehicles (UK) Limited is a wholly owned subsidiary of Wietmarscher Ambulanz- und Sonderfahrzeug GMBH registered in Germany. Consolidated financial statements, of which WAS Vehicles (UK) Limited forms a part, are publicly available at Darwinstr 11 48488 Emsburen Germany.

The loan owing to Wietmarscher Ambulanz- und Sonderfahrzeug GMBH in note number 10 is repayable by 7 February 2030. Interest is charged at 4% per year.

16.	PARENT ENTITY AND ULTIMATE CONTROLLING PARTY

Fahrzeug-Werke LUEG AG, incorporated in Germany, is regarded by the directors as being the company's ultimate parent company.