Curated Beverages UK Ltd

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—6

1. General Information

Curated Beverages UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12902921 . The registered office is Unit 3 Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.

The principal activity of the company during the period under review was the wholesale of non-alcoholic beverages.

The company has no single principal place of business.

The functional and presentational currency of the company is Pound Sterling (£). The accounts are rounded to the nearest £.

The financial statements have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

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.

2.2. Going Concern Disclosure

The directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the financial statements have been prepared on a going concern basis. The directors have satisfied themselves that the company is in a sound financial position by preparing forecasts covering the period up to and including December 2027 which indicate a positive cash position for company and that it meets foreseeable cash requirements. It is important to highlight that forecasts are based on the current information available and the directors' best estimates so have an inherent uncertainty.

Furthermore, as dislosed in the Directors' Report, the directors expect a proposed group restructure to be finalised by June 2026. The directors believe that this proposed structure should improve the group’s ability to raise capital in the short term and, accordingly, this has been considered as part of their assessment of the company’s going concern position.

The directors are not aware of any new material changes that may adversely impact the company. The directors are also not aware of any material non-compliance with statutory or regulatory requirements or any pending changes to legislation which may affect the company.

2.3. Significant judgements and estimations

The directors believe that there are no significant judgements or estimates in the preparation of these financial statements.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover is reported net of VAT. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

2.5. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets comprise computer software which has been fully amortised to the income statement over its estimated economic life of four years.

2.6. Leasing and Hire Purchase Contracts

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

2.7. Financial Instruments

The company has basic financial instruments which are stated at amortised cost.

2.8. Foreign Currencies

Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the Income Statement.

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Curated Beverages UK Ltd

Notes to the Financial Statements (continued)

For the Period 1 March 2025 to 31 December 2025

2.9. 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 Income Statement 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 temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary 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.

Current or deferred tax for the year is recognised in the Income Statement, except when they relate to items that are recognised in Other Comprehensive Income or directly in Equity, in which case, the current and deferred tax is also recognised in Other Comprehensive Income or directly in Equity respectively.

2.10. Consolidation

As the company and its subsidiary and associated undertakings form a small group, the company is exempt from the requirement to prepare group financial statements. These financial statements present information about the company as a standalone entity and not its group.

2.11. Fixed asset investments

Fixed asset investments are stated at cost less any provision for impairment.

3. Average Number of Employees

Average number of employees during the period was: NIL (2025: NIL)

4. Intangible Assets

	Other
	£
Cost
As at 1 March 2025	1,249

As at 31 December 2025	1,249

Amortisation
As at 1 March 2025	1,249

As at 31 December 2025	1,249

Net Book Value
As at 31 December 2025	-

As at 1 March 2025	-

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Curated Beverages UK Ltd

Notes to the Financial Statements (continued)

For the Period 1 March 2025 to 31 December 2025

5. Investments

	Subsidiaries	Associates	Joint Ventures	Total
	£	£	£	£
Cost
As at 1 March 2025	215,887	103,090	10,586	329,563

As at 31 December 2025	215,887	103,090	10,586	329,563

Provision
As at 1 March 2025	69,000	60,455	-	129,455
Added in period	73,443	-	10,586	84,029

As at 31 December 2025	142,443	60,455	10,586	213,484

Net Book Value
As at 31 December 2025	73,444	42,635	-	116,079

As at 1 March 2025	146,887	42,635	10,586	200,108

The investment in subsidiaries represents a 100% holding in the ordinary shares of Curated Beverages (Proprietary) Limited, a company which is incorporated in South Africa.

The subsidiary made a loss of £86,232 (Year ended February 2025: £90,563) for the period ended 31 December 2025 and had closing negative capital and reserves of £34,145 (February 2025: £52,351 positive) at that date, because of this additional impairment has been provided for at £73,443.

The investment in associates represents 41% of the issued share capital of Curated Beverages USA Inc.

The associate made a loss of £135,820 (February 2025: £258,052) for the reporting year ended 31 December 2025 and had closing positive capital and reserves of £83,390 (February 2025: £14,809) at that date.

The joint venture represents a 50% shareholding in Kolisi Beverage Brands Limited, a company incorporated in England and Wales. The joint venture was discontinued after the period end and so has been be fully provided for at £10,586.

6. Debtors

	31 December 2025	28 February 2025
	£	£
Due within one year
Trade debtors	21,463	12,990
Amounts owed by group undertakings	42,438	-
Amounts owed by participating interests	57,595	43,878
Other debtors	4,539	16,376

	126,035	73,244

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Curated Beverages UK Ltd

Notes to the Financial Statements (continued)

For the Period 1 March 2025 to 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	28 February 2025
	£	£
Trade creditors	8,141	271
Bank loans and overdrafts	33,283	11,616
Amounts owed to group undertakings	-	45,922
Amounts owed to participating interests	4,725	-
Other creditors	9,467	10,795

	55,616	68,604

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

	31 December 2025	28 February 2025
	£	£
Bank loans	12,376	23,544

9. Share Capital

	31 December 2025	28 February 2025
Allotted, called up and fully paid	£	£
3,704 Ordinary Shares of £ 0.10 each	371	353


Shares issued during the period:	£
175 Ordinary Shares of £ 0.10 each	18

During the period 175 ordinary shares of £0.10 each were issued for a consideration of £687.99 each.

10. Reserves

	Share Premium	Income Statement
	£	£
As at 1 March 2025	793,080	(604,728 )
Loss for the period and total comprehensive income	-	(129,882 )

Arising on shares issued during the period	120,382	-
Expenses on shares issued during the period	(4,500)	-

As at 31 December 2025	908,962	(734,610 )

Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.

Profit and loss account - includes all current and prior period retained profits and losses.

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Curated Beverages UK Ltd

Notes to the Financial Statements (continued)

For the Period 1 March 2025 to 31 December 2025

11. Related Party Transactions

Curated Beverages (Proprietary) Limited is a subsidiary of the company. During the period the company purchased goods amounting to £211,224 (year ended February 2025: £178,525) from Curated Beverages (Proprietary) Limited. At the reporting date the company was owed £42,438 by (February 2025: owed £45,922 to) Curated Beverages (Proprietary) Limited.

Il Consigliere (Pty) Limited is a company in which GK Stevens, a director of the company, has an interest. During the period the company paid Il Consigliere (Pty) Limited £44,093 (year ended February 2025: £43,386) in respect of services provided. There was no balance with Il Consigliere (Pty) Limited at either period end.

GK Stevens has provided a personal guarantee in respect of the bank loan and overdraft of the company. At the reporting date these amounted to £24,804 and £20,855 respectively (February 2025: £35,160 and £nil respectively).

Pivot Financial Partners (Pty) Limited is a company in which MA Croudace, a director of the company, has an interest. During the period the company paid Pivot Financial Partners (Pty) Limited £40,093 (year ended February 2025: £61,765) in respect of services provided. The company had no balances with Pivot Financial Partners (Pty) Limited at either year end.

Curated Beverages USA Inc is a company in which the company has a 41% interest. During the period the company made sales to Curated Beverages USA Inc of £176,688 (year ended February 2025: £140,618) and made purchases from Curated Beverages USA Inc of £1,097 (Year ended February 2025: £13,415). At the reporting date the company was owed £57,595 (February 2025: £43,103) by Curated Beverages USA Inc.

Kolisi Beverage Brands Limited is a company in which the company has a 50% interest. At the reporting date the company owed £4,725 (February 2025 was owed £775 by) to Kolisi Beverage Brands Limited.

12. Audit Information

The auditor's report on the accounts of Curated Beverages UK Ltd for the period ended 31 December 2025 was unqualified but included the paragraph below:-

"We draw attention to note 2.2 in the financial statements, which indicates that the directors have based their conclusions on the going concern status of the company on forecasts for the period up to and including 28 December 2027 and a proposed

group restructure expected to complete in June 2026. Forecasts are inherently uncertain by their nature and the restructure

has not yet been approved, and therefore these facts create a material uncertainty which may cast doubt on the company’s

ability to continue as a going concern. Our opinion is not modified in this matter."

The auditor's report was signed by Paul Allan Byrne BA (Double Hons) FCA (Senior Statutory Auditor) for and on behalf of Ascendis Audit Limited , Statutory Auditor.

Ascendis Audit Limited

Unit 3, Building 2

The Colony, Altrincham Road

Wilmslow

Cheshire

SK9 4LY

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		31 December 2025		28 February 2025
	Notes	£	£	£	£
FIXED ASSETS
Investments	5		116,079		200,108

			116,079		200,108
CURRENT ASSETS
Debtors	6	126,035		73,244
Cash at bank and in hand		601		7,501

		126,636		80,745
Creditors: Amounts Falling Due Within One Year	7	(55,616 )		(68,604 )

NET CURRENT ASSETS (LIABILITIES)			71,020		12,141

TOTAL ASSETS LESS CURRENT LIABILITIES			187,099		212,249

Creditors: Amounts Falling Due After More Than One Year	8		(12,376 )		(23,544 )

NET ASSETS			174,723		188,705

CAPITAL AND RESERVES
Called up share capital	9		371		353
Share premium account			908,962		793,080
Income Statement			(734,610 )		(604,728 )

SHAREHOLDERS' FUNDS			174,723		188,705