Andermatt Biocontrol UK Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Andermatt Biocontrol UK Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10852467 . The registered office is Unit 30, Mackley Industrial Estate, Henfield, Small Dole, BN5 9XR.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements are prepared in sterling, which is the functional currency of the entity. All the amounts in these financial statements have been rounded to the nearest pound unless stated otherwise.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The net position in the balance sheet is currently showing net liabilities of £1,232,023 (2024: £2,058,991). The company is supported by the parent company Andermatt Group AG, who are owed a balance of £1,585,000 (£1,810,000) at the year-end.

Andermatt Group AG have indicated their continued support of Andermatt Biocontrol UK Limited and will not recall the debt in the immediate future. Andermatt Group AG have the resources to continue to support Andermatt Biocontrol UK Limited.

2.3. Significant judgements and estimations

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported. These estimates and judgments 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.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are Trade Marks which are amortised to profit and loss account over its estimated economic life of 10 years. The Company amortises goodwill over a period of 10 years. This period has been selected as the directors consider that it reflects the expected period over which the economic benefits of the asset will be realised. Due to the nature of the business and the absence of a reliable method to estimate a shorter useful economic life, the directors consider a 10-year period to be a reasonable estimate.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets due to the nature of the business are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25% Reducing Balance
Fixtures & Fittings	25% Reducing Balance
Computer Equipment	25% Reducing Balance

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Andermatt Biocontrol UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. - Leases in which substantially all the risk and rewards of ownership are retained by the lessor are classified as operating leases, payments made under operating leases are charged to the profit or loss on a straight-line basis over the period of the lease.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.8. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. Cost is determined using the First in and First Out Method.

2.9. Financial Instruments

Financial instruments - Classification - the company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Share Capital - Ordinary shares are classified as equity. Equity Instruments are measured at fair value of the cashother resources received or receivable, net of the direct costs of issuing the equity instruments. If payments aredeferred and the time value of money is material, the initial measurement is on a present value basis.

2.10. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.11. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Andermatt Biocontrol UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.12. Pensions

Defined contribution pension obligation - A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a a prepayment.

2.13. Debtors

Trade and other debtors are recognised initially at transaction price and subsequently measured at amortised cost less any

provision for impairment. A provision is recognised where there is objective evidence that the Company will not be able to

collect amounts due.

2.14. Creditors

Trade and other creditors are recognised initially at transaction price and subsequently measured at amortised cost.

2.15. Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 9 (2024: 9)

4. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	22,002	7,045
Prepayments and accrued income	6,901	5,709
Other debtors	9,170	7,500
Corporation tax recoverable assets	23,468	9,820
VAT	-	9,142

	61,541	39,216
Due after more than one year
Other debtors	7,500	-

	69,041	39,216

Trade and other debtors are recognised initially at transaction price and subsequently measured at amortised cost less any provision for impairment. A provision is recognised where there is objective evidence that the Company will not be able to collect amounts due.

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Andermatt Biocontrol UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	87,790	133,293
VAT	2,270	-
Taxation and Social Security	14,440	11,743
Other creditors	4,769	4,510
Accruals and deferred income	9,340	4,904
Directors' loan accounts	322	-

	118,931	154,450

Trade and other creditors are recognised initially at transaction price and subsequently measured at amortised cost.

6. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Directors loan account	-	400,370
Amounts owed to other participating interests	1,585,000	1,810,000

	1,585,000	2,210,370

The loan of £1,585,000 (2024: £1,810,000) is from the parent company Andermatt Group AG. Interest is being charged at 3%. The total amount of interest charged in the year was £59,313 (2024: £48,527).

8. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	25,000	25,000
Later than one year and not later than five years	100,000	100,000
Later than five years	15,411	40,411

	140,411	165,411

9. Related Party Transactions

'The company has taken advantage of the exemption in FRS 102 paragraph 33.1A from disclosing transactions with other members of the group

10. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Andermatt AG . Andermatt AG was incorporated in Switzerland. Copies of the group accounts may be obtained from the secretary, Stahlermatten 6, 6146 Grossdietwil, Switzerland . The ultimate controlling party is Andermatt AG who controls 100% of the shares of Andermatt Biocontrol UK Limited .

11. Directors Loan and Shares

During the year Andermatt Group AG agreed to convert £1,200,000 in loans (see note 6) to equity. 1,200,000 Ordinary A shares were issued of value £1 each. This brings the total called up share value to £1,300,000. 1,280,000 £1 Ordinary A shares and 20,000 £1 Ordinary B Shares.

...CONTINUED

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Andermatt Biocontrol UK Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

At the beginning of the year the company had a loan due to A Brown, a director of £400,370 (see note 6). on which interest of 3% was being charged. In December the parent company paid £400,000 of the loan in exchange for 20,000 £1 Ordinary B Shares held by A Brown. There were further transactions of a debit of £360 and a credit of £312. The total amounts due to A Brown at the year-end was £322.00

12. Audit Information

The auditor's report on the accounts of Andermatt Biocontrol UK Limited for the year ended 31 December 2025 was qualified.

The basis of qualification in the auditor's report was as follows:

We were appointed as auditors of the company on 19 January 2026 and thus did not observe the counting of the physical inventories at the beginning of the year. We were unable to satisfy ourselves by alternative means concerning inventory quantities held at 31 December 2024. Since opening inventories enter into the determination of the financial performance, we were unable to determine whether adjustments might have been necessary in respect of the profit for the year reported in the income statement.

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 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 qualified opinion.

The auditor's report was signed by Matthew Hodson BSc FCA (Senior Statutory Auditor) for and on behalf of Hodson & Co , Statutory Auditor.

Hodson & Co

1 Wiston Avenue

Worthing

West Sussex

BN14 7QL

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets			830		1,228
Tangible Assets			4,568		5,450

			5,398		6,678
CURRENT ASSETS
Stocks		292,728		244,785
Debtors	4	69,041		39,216
Cash at bank and in hand		98,491		15,150

		460,260		299,151
Creditors: Amounts Falling Due Within One Year	5	(118,931 )		(154,450 )

NET CURRENT ASSETS (LIABILITIES)			341,329		144,701

TOTAL ASSETS LESS CURRENT LIABILITIES			346,727		151,379

Creditors: Amounts Falling Due After More Than One Year	6		(1,585,000 )		(2,210,370 )

NET LIABILITIES			(1,238,273 )		(2,058,991 )

CAPITAL AND RESERVES
Called up share capital			1,300,000		100,000
Profit and Loss Account			(2,538,273 )		(2,158,991 )

SHAREHOLDERS' FUNDS			(1,238,273)		(2,058,991)