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Registered number: 03202078
ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2025
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
REGISTERED NUMBER: 03202078
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
REGISTERED NUMBER: 03202078
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
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 comprehensive income 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 on 6 May 2026.
The notes on pages 3 to 12 form part of these financial statements.
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Altios International UK Limited (formerly known as Frenger Business Services Limited) is a company limited by shares, incorporated in England and Wales. The address of the registered office is Wilberforce House, Station Road, London, NW4 4QE.
The principal activity of the company is that of business services.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and 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:
The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the approval of these financial statements. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore has prepared the accounts on a going concern basis.
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:
Rendering of services
Revenue from a contract to provide services is recognised in the year 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 reporting date can be measured reliably; and
• the costs incurred and the costs to complete the contract can be measured reliably.
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
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Impairment of fixed assets and goodwill
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Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
Investments in subsidiaries are measured at cost less accumulated impairment.
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.
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Cash and cash equivalents
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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.
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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.
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Foreign currency translation
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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 year 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 year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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 the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to the Statement of comprehensive income.
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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 reporting 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 reporting 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 reporting date.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
The average monthly number of employees, including directors, during the year was 10 (unaudited period ended 31 December 2024 - 9).
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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At 1 January 2025 (unaudited)
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At 1 January 2025 (unaudited)
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At 31 December 2024 (unaudited)
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Investments in subsidiary companies
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At 31 December 2024 (unaudited)
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Amounts owed by group undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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At beginning of year (unaudited)
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Charged to the Statement of comprehensive income
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charged to the Statement of comprehensive income
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £25,643 (unaudited period ended 31 December 2024 - £21,725). Contributions totalling £Nil (unaudited 2024 - £Nil) were payable as at the reporting date.
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ALTIOS INTERNATIONAL UK LIMITED (FORMERLY KNOWN AS FRENGER BUSINESS SERVICES LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Related party transactions
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During the year, the company received services from Frenger International Limited, a shareholder, and was charged management fees amounting to £140,250 (unaudited period ended 31 December 2024 - £159,375). At the reporting date, a balance of £Nil (unaudited 2024 - £5,804) was due from that company.
During the year, the company paid dividends to Frenger International Limited, a shareholder, amounting to £55,000 (unaudited 2024 - £156,220).
During the year, the company paid dividends to Altios Consulting Limited, a shareholder, amounting to £45,000 (unaudited 2024 - £49,333).
Included within other creditors is an amount of £Nil (unaudited 2024 - £724) due to Frenger Consulting Services Limited, a company with a common director.
During the year, the company made sales to group undertakings totaling of £14,417 (unaudited 2024 - £Nil) and made purchases from those entities of £102,850 (unaudited 2024 - £Nil).
At the year end, the amounts owed by group undertakings was £19,726 (unaudited 2024 - £Nil) and the amounts owed to group undertakings was £68,237 (unaudited 2024 - £Nil).
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Post balance sheet events
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There are no subsequent events that require disclosure or adjustments to the financial statements.
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Ultimate parent undertaking and controlling party
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The immediate and ultimate parent undertaking is Altios International SAS which has registered at 22 Rue de la Pepiniere, 75008 Paris, France. This is the only company in the group which prepares consolidated accounts, they are available from the registered office address.
In the opinion of the directors, there is no ultimate controlling party.
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 11 May 2026 by Elliot S J Arwas (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.
Other matters
The year ended 31 December 2025 was the first year in which the financial statements were audited. The comparative figures are therefore unaudited.
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