Company registration number 11852740 (England and Wales)
ALCOTRA UK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
ALCOTRA UK LIMITED
COMPANY INFORMATION
Directors
T Viatour
M Bouton
C Meeus
(Appointed 13 October 2025)
Company number
11852740
Registered office
Bridgeway House
Mellor Road
Cheadle Hulme
Cheshire
SK8 5AU
Auditor
Cooper Parry Group Limited
St James Building
79 Oxford Street
Manchester
M1 6HT
Bankers
KBC Bank NV
111 Old Broad Street
London
EC2N 1BR
ALCOTRA UK LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 19
ALCOTRA UK LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

Alcotra UK Limited is a reseller of Industrial Ethanol grades to the UK market. The objectives of the company are to retain and grow market share and remain up to date with market changes. The customers rely on the excellent service provided and the availability of product during times of shortage and the company must ensure to continue to meet these expectations.

Financial Performance

|  | 20 25 |  | 20 24
|  | £000 |  | £00 0
Turnover |  | 31,248 |  | 32,326
Net profit before tax | 1,091 |  | 1,117

During the financial year to 31 December 2025, volumes are slightly reduced on prior year due to reduction in overall demand from clients, this is reflected in turnover and net profit. The company continues to grow a number of clients to offset this market downturn. Market prices reduced slightly in 2025 along with cost of product so margins remain similar to previous year. Shipping costs to Europe remain stable now following previous increase and whilst there is some volatility in the USD/EUR exchange rates the EUR/GBP remained quite stable. The UK remains a strategic market for the Alcogroup.

The directors have undertaken a thorough review of the performance of the business over the last twelve months against the KPI’s set, with the main KPI’s being volume and net profit, and the results are in line with budget expectations for 2025.

The directors believe that the business has responded positively during this financial period and is confident, that the business will continue to retain and grow its market share in all areas of operation whilst aiming to keep good profit margins and overall profitability.

The company operates in a highly competitive market, and it is therefore vital that customer expectations are met to ensure that the market share is consolidated and increased going forward.

Principal Risks

Business performance risk

This is the risk that the company may not perform as expected due to internal factors or due to competitive pressures in the market in which it operates. This risk is managed by ensuring the management team continually assess these risks through a number of measures: weekly Global market overview with commercial and logistics teams from Alcogroup; budget and business planning to ensure sufficient product available against commitments; monthly reporting and variance analysis; regular forecasting with customers and suppliers.

Business continuity risk

There is a plan in place with the directors in partnership with the parent company to ensure manufacture and supply can be met in the event of a significant negative impact on the business.

Health and safety risk

The company is committed to ensuring a safe working environment. The risks arising from inadequate management of health and safety matters are the exposure of employees and third parties to the risk of injury potential liability and/or loss of reputation. These risks are managed through the strong promotion of a health and safety culture.

ALCOTRA UK LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

Credit risk

The credit risk to the company comes from third party derived revenues. The company minimises such risk by ensuring customers adhere to payment terms and regular monitoring of credit limits. The company also has credit insurance in place to ensure exposure to bad debts is not significant. During the year ending 31 December 2025 there have been no bad debts.

Liquidity risk

Expenditure outside of debtors is approved at Board level and flexibility is maintained by retaining surplus cash in the bank.

Other information and explanations

The company will continue to take steps to efficiently manage cash flow, reduce costs and plan appropriate commercial actions to ensure the continued success of the business.

The risks related to competitive ethanol produced in Europe versus imports have been assessed and the Directors do not feel that there will be any significant short to medium term impact on the company’s financial performance.

The company has sufficient financial resources together with customers across a number of different industries. The company’s main supplier is its parent company who source product from different geographical areas. Consequently, the Directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The company has sufficient financial resources together with customers across a number of different industries. The company’s main supplier is its parent company who source product from different geographical areas. Consequently, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

On behalf of the board

T Viatour
Director
2 March 2026
ALCOTRA UK LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company continued to be that of the wholesale and distribution of chemical products.

Results and dividends

The results for the year are set out on page 8.

Ordinary dividends were paid amounting to £1,000,000. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

T Viatour
M Bouton
C Maurissen
(Resigned 13 October 2025)
C Meeus
(Appointed 13 October 2025)
Future developments

Alcotra UK Limited envisages no change to the direction of its strategy.

Auditor

Cooper Parry Group Limited were appointed as auditor to the company and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

ALCOTRA UK LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -
On behalf of the board
T Viatour
M Bouton
Director
Director
2 March 2026
ALCOTRA UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF ALCOTRA UK LIMITED
- 5 -
Opinion

We have audited the financial statements of Alcotra UK Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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 Auditor's 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 opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

ALCOTRA UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF ALCOTRA UK LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Identifying and assessing potential risks related to irregularities

- the nature of the industry and sector, control environment and business performance.

- any matters we identified having obtained and reviewed the company’s documentation of their policies and procedures relating to:

  - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance,

  - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and

- the matters discussed among the audit engagement team and involving relevant internal specialists, including tax, and industry specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks the company operates in, focussing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and tax legislation.

ALCOTRA UK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF ALCOTRA UK LIMITED (CONTINUED)
- 7 -

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

- enquiring of management and those charged with governance concerning actual and potential litigation claims;

- In assessing the risk of fraud through management override of controls, testing the appropriateness of journal entries and assessing whether judgements made in making accounting estimates are indicative of potential bias.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Zoë Duffy BFP FCA
Senior Statutory Auditor
For and on behalf of Cooper Parry Group Limited
2 March 2026
Statutory Auditor
St James Building
79 Oxford Street
Manchester
M1 6HT
ALCOTRA UK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
31,248,446
32,326,306
Cost of sales
(29,582,538)
(30,591,851)
Gross profit
1,665,908
1,734,455
Administrative expenses
(578,042)
(616,294)
Operating profit
4
1,087,866
1,118,161
Interest receivable and similar income
6
2,943
-
0
Interest payable and similar expenses
7
-
0
(1,420)
Profit before taxation
1,090,809
1,116,741
Tax on profit
8
(272,689)
(279,636)
Profit for the financial year
818,120
837,105

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ALCOTRA UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,242
1,337
Current assets
Stocks
11
923,271
2,060,989
Debtors
12
8,484,312
9,660,606
Cash at bank and in hand
3,140,175
3,226,078
12,547,758
14,947,673
Creditors: amounts falling due within one year
13
(11,121,577)
(13,339,679)
Net current assets
1,426,181
1,607,994
Total assets less current liabilities
1,427,423
1,609,331
Provisions for liabilities
Deferred tax liability
14
294
322
(294)
(322)
Net assets
1,427,129
1,609,009
Capital and reserves
Called up share capital
16
100,000
100,000
Profit and loss reserves
1,327,129
1,509,009
Total equity
1,427,129
1,609,009

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 2 March 2026 and are signed on its behalf by:
T Viatour
M Bouton
Director
Director
Company registration number 11852740 (England and Wales)
ALCOTRA UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2024
100,000
1,471,904
1,571,904
Year ended 31 December 2024:
Profit and total comprehensive income
-
837,105
837,105
Dividends
9
-
(800,000)
(800,000)
Balance at 31 December 2024
100,000
1,509,009
1,609,009
Year ended 31 December 2025:
Profit and total comprehensive income
-
818,120
818,120
Dividends
9
-
(1,000,000)
(1,000,000)
Balance at 31 December 2025
100,000
1,327,129
1,427,129
ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

Alcotra UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Alcotra UK Limited, Bridgeway House, Mellor Road, Cheadle Hulme, Cheshire, SK8 5AU.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Alcotra Holdings SA. These consolidated financial statements are available from its registered office, Boulevard du Soverain 100, 1170, Brussels, Belgium.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% reducing balance
Computers
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 13 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors deem that there are no judgements or estimates that are considered critical or key.

3
Turnover and other revenue

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Sale of goods
31,248,443
32,326,306
2025
2024
£
£
Other revenue
Interest income
2,943
-
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange losses/(gains)
964
(2,772)
Fees payable to the company's auditor for the audit of the company's financial statements
20,350
20,475
Depreciation of tangible fixed assets
353
774
ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
5
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Administration
5
5

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
69,650
83,935
Social security costs
1,784
4,072
Pension costs
1,792
1,718
73,226
89,725
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
2,943
-
0
7
Interest payable and similar expenses
2025
2024
£
£
Other interest
-
0
1,420
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
272,717
279,770
Deferred tax
Origination and reversal of timing differences
(28)
(134)
Total tax charge
272,689
279,636
ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Taxation
(Continued)
- 16 -

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,090,809
1,116,741
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
272,702
279,185
Tax effect of expenses that are not deductible in determining taxable profit
723
451
Other differences
(736)
-
0
Taxation charge for the year
272,689
279,636
9
Dividends
2025
2024
£
£
Final paid
1,000,000
800,000
10
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2025
2,485
5,599
8,084
Additions
-
0
258
258
At 31 December 2025
2,485
5,857
8,342
Depreciation and impairment
At 1 January 2025
1,148
5,599
6,747
Depreciation charged in the year
267
86
353
At 31 December 2025
1,415
5,685
7,100
Carrying amount
At 31 December 2025
1,070
172
1,242
At 31 December 2024
1,337
-
0
1,337
ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 17 -
11
Stocks
2025
2024
£
£
Finished goods and goods for resale
923,271
2,060,989
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8,255,199
9,553,421
Corporation tax recoverable
97,726
-
0
Other debtors
947
947
Prepayments and accrued income
130,440
106,238
8,484,312
9,660,606
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
730,392
1,134,819
Amounts owed to group undertakings
884,447
2,385,977
Corporation tax
-
0
45,395
Other taxation and social security
217,504
290,739
Dividends payable
1,000,000
800,000
Other creditors
7,421,302
8,181,456
Accruals and deferred income
867,932
501,293
11,121,577
13,339,679

The finance lease obligations are secured on the assets to which they relate.

Included in other creditors is an invoice discounting creditor amounting to £7,420,918 (2024 - ££8,181,088 ). This creditor is secured on the debts to which it relates.

ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
14
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
322
322
Tax losses
(28)
-
294
322
2025
Movements in the year:
£
Liability at 1 January 2025
322
Credit to profit or loss
(28)
Liability at 31 December 2025
294
15
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
1,792
1,718

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

At 31 December 2025 unpaid pension liabilities totalled £67 (2024: £51).

16
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100,000
100,000
100,000
100,000
ALCOTRA UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 19 -
17
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
12,600
25,200
Between two and five years
-
0
12,600
12,600
37,800
18
Related party transactions

The company has taken advantage of the exemption available in FRS102 whereby it has not disclosed transactions with its parent company.

19
Ultimate controlling party

The immediate and ultimate controlling party is Alcotra Holdings SA a company registered in Belgium. The financial statements for the company can be obtained from Alcotra Holdings SA, Boulevard du Soverain 100, 1170, Brussels, Belgium.

2025-12-31 2025-01-01 false false false CCH Software CCH Accounts Production 2025.300 T Viatour M Bouton C Maurissen C Meeus 11852740 2025-01-01 2025-12-31 11852740 bus:Director1 2025-01-01 2025-12-31 11852740 bus:Director2 2025-01-01 2025-12-31 11852740 bus:Director4 2025-01-01 2025-12-31 11852740 bus:Director3 2025-01-01 2025-12-31 11852740 bus:RegisteredOffice 2025-01-01 2025-12-31 11852740 bus:Agent1 2025-01-01 2025-12-31 11852740 2025-12-31 11852740 2024-01-01 2024-12-31 11852740 core:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 11852740 core:RetainedEarningsAccumulatedLosses 2025-01-01 2025-12-31 11852740 2024-12-31 11852740 core:FurnitureFittings 2025-12-31 11852740 core:ComputerEquipment 2025-12-31 11852740 core:FurnitureFittings 2024-12-31 11852740 core:ComputerEquipment 2024-12-31 11852740 core:WithinOneYear 2025-12-31 11852740 core:WithinOneYear 2024-12-31 11852740 core:CurrentFinancialInstruments 2025-12-31 11852740 core:CurrentFinancialInstruments 2024-12-31 11852740 core:ShareCapital 2025-12-31 11852740 core:ShareCapital 2024-12-31 11852740 core:RetainedEarningsAccumulatedLosses 2025-12-31 11852740 core:RetainedEarningsAccumulatedLosses 2024-12-31 11852740 core:ShareCapital 2023-12-31 11852740 core:RetainedEarningsAccumulatedLosses 2023-12-31 11852740 core:ShareCapitalOrdinaryShareClass1 2025-12-31 11852740 core:ShareCapitalOrdinaryShareClass1 2024-12-31 11852740 core:FurnitureFittings 2025-01-01 2025-12-31 11852740 core:ComputerEquipment 2025-01-01 2025-12-31 11852740 1 2025-01-01 2025-12-31 11852740 1 2024-01-01 2024-12-31 11852740 core:UKTax 2025-01-01 2025-12-31 11852740 core:UKTax 2024-01-01 2024-12-31 11852740 core:FurnitureFittings 2024-12-31 11852740 core:ComputerEquipment 2024-12-31 11852740 2024-12-31 11852740 bus:OrdinaryShareClass1 2025-01-01 2025-12-31 11852740 bus:OrdinaryShareClass1 2025-12-31 11852740 bus:OrdinaryShareClass1 2024-12-31 11852740 core:BetweenTwoFiveYears 2025-12-31 11852740 core:BetweenTwoFiveYears 2024-12-31 11852740 bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 11852740 bus:FRS102 2025-01-01 2025-12-31 11852740 bus:Audited 2025-01-01 2025-12-31 11852740 bus:FullAccounts 2025-01-01 2025-12-31 xbrli:pure xbrli:shares iso4217:GBP