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

Introduction

The company's turnover remained strong and consistent, being £19.2 million in the 13 month period to 31 Dec 2025 (£17.3 million in year to 30 Nov 2024).

The company continued to see increases in costs throughout 2025 driven by cost and wage inflation in the UK but was able to mitigate these to ensure that gross margin remained constant at 31.2% in 2025 (2024: 32.0%). The company's continued mix of customers and sectors within the removals and storage industry also supported the strong financial performance in 2025.

On 29 April 2025 the entire share capital of Kelerbay Limited was sold to Gosselin Mobility UK Limited which is part of the Gosselin Group with its Headquarters in Belgium. The company altered its accounting reference date to be 31 December to align with that of its new parent and so the results reflect the 13 month period to 31 December 2025. The comparative results are for the 12 month period to 30 Nov 2024.

To give a true reflection of the trading performance of the company, the Profit and Loss for the period was as follows:

The directors are pleased to report that the company generated an operating profit of £1,104,727 (2024: 970,908).

Cash and cash equivalents increased during 2025 ending the period at £300,205 compared to £1,746 at the beginning of the period.

The balance sheet remains strong with net assets of £4,137,813 (2024: £3,471,971) and current assets, inclusive of intra-​group balances, of £7,477,475 (2024: £7,766,440) which are 1.21 times (2024: 1.18 times) larger than current liabilities.

Given the nature of the business, the company’s directors are of the opinion that analysis using KPI’s, other than those which emerge from the financial statements and discussed in the business review above are not necessary for an understanding of the business.

Future Developments

The company continues its strategy to grow the business by developing existing revenue streams and existing customers. The company also continues to review opportunities to grow the business through acquisitions as well as expanding the customer base.

In addition, the company continues its annual fleet investment to ensure operational efficiency and compliance with regulations.

Principal risks and uncertainties

Its primary commercial risk is in generating and continuing to generate turnover which it does through maintaining its reputation in the market place for good and comprehensive removal and storage services. It also has an extremely diverse customer base in terms of the markets it operates in and the geographic spread of its branches assists this process.

Financial risk operations

The board of the company is responsible for managing the liquidity, interest and foreign currency risks associated with the company's activities.

In addition to cash and borrowings held with the company's bankers the company has other financial assets and liabilities such as trade debtors and trade creditors arising directly from operations

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

Interest rate risk

The company limits its exposure to interest rate risk on its fixed rate borrowings by ensuring that they are taken out at the most competitive rates available and by keeping borrowings to the minimum conducive to the profitable growth of the business.

Foreign currency risk

The company's principal foreign currency exposure arises from trading with overseas companies. The company has reciprocal trading arrangements with several of these overseas companies which limits the currency exposure which is also limited by the regular settlement of balances with other overseas trading partners.

On behalf of the board

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

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

No ordinary dividends were paid (2024: £nil). The directors do not recommend payment of a final dividend.

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

The auditor, Beavis Morgan Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of the company's financial risk management and objectives and policies, exposure to financial risks and future developments.

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.

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.

We have audited the financial statements of Kelerbay Limited (the 'company') for the period ended 31 December 2025 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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 period 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' report for the financial period 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.

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

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.

As explained more fully in the directors' responsibilities statement, 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.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

• Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, company law, tax and pension legislation.

• Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include environmental regulations and health and safety legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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 members, as a body, 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 members those matters we are required to state to them 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 members as a body, for our audit work, for this report, or for the opinions we have formed.

The statement of income and retained earnings has been prepared on the basis that all operations are continuing operations.

The notes on pages 10 to 24 form part of these financial statements.

The notes on pages 10 to 24 form part of these financial statements.

Kelerbay Limited is a private company limited by shares incorporated in England and Wales. The registered office is International House, 19 Kennet Road, Dartford, Kent, DA1 4QN.

The financial statements for the current period cover the period from 1 December 2024 to 31 December 2025 whereas the previous financial statements cover the period 1 December 2023 to 30 November 2024. As a result of this, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

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 amounts in these financial statements are rounded to the nearest £.

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

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

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. The company has therefore taken advantage of exemptions from the following disclosure requirements:

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

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

The financial statements of the company are consolidated in the financial statements of Gosselin Mobility UK Limited. These consolidated financial statements are available from its registered office: International House, 19 Kennet Road, Dartford, England, DA1 4QN.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. This is because there is expected to be adequate working capital to be able to cover any reasonably conceivable expenditure in that time. In addition to this, the company enjoys the continued support of its shareholder. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. true

Turnover represents amounts receivable for removal services net of VAT. Turnover is recognised when a job is fully wrapped, packed and collected for dispatch. Should the collection of the job straddle the period end, the relevant proportion of the revenue relating to the services is accrued. All freight and shipping costs, including insurance costs, relating to the job are recognised on the same basis.

Storage revenue is recognised in the period in which the service is provided.

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years. Useful economic life of goodwill has been assessed on the basis of future expected profits contributed by the acquired businesses over its expected life.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired.

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

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:

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.

Investments in subsidiaries are measured at cost and subsequently measured at cost less provision for impairment.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell on a FIFO basis.

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.

Cash and cash equivalents include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has applied 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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts are 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, which include debtors, cash and bank balances, and advances made to the parent undertaking, 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.

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

Basic financial liabilities, including creditors, invoice discounting, finance leases, bank loans and overdrafts, and amounts due to group members, are initially recognised at transaction price. 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. Amounts 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

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

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the statement of income and retained earnings because it excludes items of income or expense that are taxable or deductible in other periods 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 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 enacted or substantively enacted 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 statement of income and retained earnings, 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.

The costs of short-term employee benefits are recognised as a liability and an expense.

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.

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

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

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 date. Gains and losses arising on translation are included in the profit and loss account for the period.

Contingent liabilities

A contingent liability is either a possible but uncertain obligation or a present obligation that is not recognised because it fails to meet one or both of the conditions of a provision. Contingent liabilities are not recognised as a liability in the financial statements. See note 21.

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 estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimation is required in determining the valuation of certain accruals and deferred income. Certain accruals and deferred income are inherently uncertain as the pertaining invoices are not received / issued until after the reporting period end. Given this, the value of accruals and deferred income is determined based on an estimation of the costs incurred by the company at the reporting date. The carrying value of accruals and deferred income is disclosed in note 15.

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

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

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 2 (2024 - 2).

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

Goodwill relates to the acquisition of the trade and assets of H.F. Luxford & Sons Ltd. The remaining amortisation period is 3.75 years.

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

The hire purchase liability is secured over the assets to which it belongs.

These financial statements are separate company financial statements for Kelerbay Limited.

Details of the company's subsidiary at 31 December 2025 are as follows:

Registered office address:

Included within other debtors is £28,051 (2024: credit balance of £58,507, included within other creditors) of funds owed to the company that relate to an invoice discount facility held with Close Invoice Finance Limited. Fixed and floating charges over all property and undertakings of the company are held by Close Invoice Finance Limited.

Other borrowings relates to a cash flow loan agreement with Close Invoice Finance Limited. At the balance sheet date the company owed £416,667 (2024: £868,056) to Close Invoice Finance Limited in respect of the cash flow loan. Interest of 7% per annum over base rate is due on the loan and the loan matures in December 2026.

The company's bank has a charge on cash deposits up to a limit of £56,000 (2024: £56,000).

Other borrowings relates to a cash flow loan agreement with Close Invoice Finance Limited. At the balance sheet date the company owed £416,667 (2024: £868,056) to Close Invoice Finance Limited in respect of the cash flow loan. Interest of 7% per annum over base rate is due on the loan and the loan matures in December 2026.

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Deferred taxation is provided in full, without discounting, on all tax deferred resulting from reversing timing differences at the rate of corporation tax anticipated to apply at the time of the future reversal of the timing difference. Deferred tax liabilities are expected to reverse within the next 12 months. The future rate of corporation tax applied to timing differences is 25% (2024: 25%).

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 the balance sheet date the company owed £17,967 (2024: £29,498) to the scheme.

Some rental agreements the company is party to include provisions to repair and redecorate the property before expiry of the lease. The amount of the future obligation cannot be reliably estimated due to uncertainties surrounding the cost and extent of any future repairs.

Kelerbay Limited acted as a guarantor for a loan received by its former parent company, Doree Bonner Holdings Limited, from A2E Industries Limited. Fixed and floating charges over all property and undertakings of the company were held by A2E Industries Limited, up until 30 April 2025, when the charge was satisfied.

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:

The company has taken advantage of the exemptions under FRS 102 not to disclose transactions with fellow wholly owned group members on the basis that fully consolidated accounts are prepared.

At the balance sheet date, the company owed £47 (2024: £47) to former directors of the company. This balance is interest free and repayable on demand. The only transactions with directors during the period related to directors' remuneration which is disclosed in note 6. The company's only key management personnel are considered to be the directors of the company.

During the period, the company was charged £115,000 (2024: £180,000) in respect of management charges, recharged expenses, and bonuses by an entity which was a related party by virtue of having a shareholding in the company's former parent company, DB Realisations Limited.

During the period, the company purchased advertising and marketing services totalling £17,584 (2024: £41,371) from an entity which was a related party by virtue of a former shareholder's close family member having control over the entity. The entity ceased to be a related party of the company on 29 April 2025. At the balance sheet date, the company owed £nil (2024: £4,470) in relation to purchases made whilst the entity was a related party.

During the period, the company made purchases of £7,499 (2024: £nil) from an entity which is a fellow group undertaking. At the balance sheet date, Kelerbay Limited owed £2,868 (2024: £nil) to the entity.

Up until 28 April 2025, the ultimate parent company was Pasargad 1 Limited through its indirect shareholding in the immediate parent company, Doree Bonner Holdings Limited. The ultimate controlling party was S A Amiri by virtue of his shareholding in Pasargad 1 Limited. Pasargad 1 Limited's registered office is 1 Bow Churchyard, London, United Kingdom, EC4M 9DQ.

From 29 April 2025, the ultimate parent company is Gosselin BV through its indirect shareholding in the immediate parent company, Gosselin Mobility UK Limited. The ultimate controlling party is now M Smet by virtue of his shareholding in Gosselin BV. Gosselin BV's registered office is Belcrownlaan 23, 2100 Anterwerpen, Belgium.

Gosselin Mobility UK Limited is the smallest group for which group financial statements are prepared which are available to the public at its registered address: International House, 19 Kennet Road, Dartford, England, DA1 4QN. Gosselin BV is the largest group for which group financial statements are prepared.