Oppermann London Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—8

1. General Information

Oppermann London Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08109810 . The registered office is 85 Great Portland Street, First Floor, London, W1W 7LT.

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. Turnover

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

Sale of goods

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

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets consist of Trademarks, patents and website development costs when they meet the conditions permitting them to be treated as an asset under FRS 102. They are amortised to profit and loss account on a straight line basis over their estimated economic life of 4 years.

At each reporting date the company assesses whether there is any indication of impairment. If such indications exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within profit or loss.

2.4. Tangible Fixed Assets and Depreciation

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

Leasehold	see below
Plant & Machinery	25% straight-line basis
Fixtures & Fittings	25% straight-line basis
Computer Equipment	25% straight-line basis

Leasehold improvements are depreciated over the shorter of 4 years and the term of the lease.

2.5. Stocks and Work in Progress

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

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Oppermann London Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction prices less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Investments

Investments in subsidiaries are held at cost less accumulated impairment losses.

Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset’s carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

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

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

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

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

Current or deferred tax for the year is recognised in profit or loss, except when they related 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.

2.9. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

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Oppermann London Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.10. Government Grant

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

2.11. Preparation of consolidated accounts

The company is exempt under Section 399 of the Companies Act from the requirement to prepare consolidated financial statements by virtue of the fact it is subject to the small companies regime. These financial statements contain information the company as an individual undertaking and not about this group.

2.12. Related Party exemption

The company has taken advantage of the exemption available under FRS 102 not to disclose related party transactions with wholly owned subsidiaries in the group.

2.13. Share Based Payments

The grant date fair value of share-based payments awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period in which the employees become unconditionally entitled to the awards. The fair value of the awards granted is measured using an option valuation model, taking in to account the terms and conditions upon which the awards were granted. The amount recognised as an expense is adjusted to reflect the actual number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do not meet the related service and non-market performance conditions at the vesting date. For share-based payment awards with non-vesting conditions, the grant date fair value of the share-based payment is measured to reflect such conditions and there is no true-up for differences between expected and actual outcomes.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 22 (2024: 16)

4. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	47,528

As at 31 December 2025	47,528

Amortisation
As at 1 January 2025	19,670
Provided during the period	11,445

As at 31 December 2025	31,115

Net Book Value
As at 31 December 2025	16,413

As at 1 January 2025	27,858

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Oppermann London Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2025	57,265	33,621	11,355	30,180	132,421
Additions	92,244	27,928	2,598	6,636	129,406

As at 31 December 2025	149,509	61,549	13,953	36,816	261,827

Depreciation
As at 1 January 2025	10,253	25,876	8,654	14,797	59,580
Provided during the period	26,429	7,192	1,461	6,755	41,837

As at 31 December 2025	36,682	33,068	10,115	21,552	101,417

Net Book Value
As at 31 December 2025	112,827	28,481	3,838	15,264	160,410

As at 1 January 2025	47,012	7,745	2,701	15,383	72,841

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2025	2,493

As at 31 December 2025	2,493

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	2,493

As at 1 January 2025	2,493

7. Stocks

	2025	2024 as restated
	£	£
Stock	2,952,446	2,078,744

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Oppermann London Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Debtors

	2025	2024 as restated
	£	£
Due within one year
Trade debtors	372,104	45,957
Prepayments and accrued income	602,029	127,346
Other debtors	132,023	110,958
Corporation tax recoverable assets	11,738	33,108
Directors' loan accounts	34,519	69,361

	1,152,413	386,730

9. Creditors: Amounts Falling Due Within One Year

	2025	2024 as restated
	£	£
Trade creditors	1,634,496	1,422,969
Bank loans and overdrafts	5,666	115,870
Other creditors	596,926	168,437
Taxation and social security	181,419	125,842

	2,418,507	1,833,118

Included within other creditors are outstanding pension contributions of £3,462 (2024: £2,227).

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

	2025	2024 as restated
	£	£
Bank loans	18,909	24,593

11. Secured Creditors

Registered charges

A debenture creating fixed and floating charges over all the property and undertaking of the company, including its assets and intellectual property was registered in favour of Uncapped Ltd on 12 February 2025.

12. Share Capital

	2025	2024 as restated
	£	£
Allotted, Called up and fully paid	2	2

During the year, a total of 184,786 Ordinary and Ordinary A shares were allotted, with a combined nominal value of £0.18.

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Oppermann London Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

13. Other Commitments

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

	2025	2024 as restated
	£	£
Not later than one year	249,320	43,923
Later than one year and not later than five years	150,849	-

	400,169	43,923

14. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 January 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 December 2025
	£	£	£	£	£
Mr Mattis Oppermann	35,202	-	35,202	-	-
Mr Niklas Oppermann	34,159	360	-	-	34,519

The above loan is unsecured, interest free and repayable on demand.

15. Share Based Payments

The company operates equity based share option schemes (EMI and an unapproved schemes) to certain employees and contractors which provide additional remuneration for those who are key to the company. The options expire ten years after the date of the grant. Employees are not entitled to dividends until the shares are exercised. All options granted have performance conditions relating to the relevant employee remaining in the employment of the company at exercise.

A reconciliation of share option movements during the year ended 31 December 2025 is shown below:

Number - Weighted average exercise price - Total weighted exercise price

1 January 2025 79,000 - £0.84 - £65,950

Granted during the year: Nil - £Nil - £Nil

Forfeited during the year: Nil - £Nil - £Nil

Exercised during the year Nil - £Nil - £Nil

Outstanding as at 31 December 2025: 79,000 - £0.84 - £65,950

The company is unable to directly measure the fair value of the share options. Instead the fair value of the share options granted during the year is determined using the Black-Scholes model. The model is internationally recognised as being appropriate to value share option schemes similar to that of the company.

Equity settled schemes - charges arising: £9,921 (2024: £25,331)

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		2025		2024 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		16,413		27,858
Tangible Assets	5		160,410		72,841
Investments	6		2,493		2,493

			179,316		103,192
CURRENT ASSETS
Stocks	7	2,952,446		2,078,744
Debtors	8	1,152,413		386,730
Cash at bank and in hand		1,472,085		522,676

		5,576,944		2,988,150
Creditors: Amounts Falling Due Within One Year	9	(2,418,507 )		(1,833,118 )

NET CURRENT ASSETS (LIABILITIES)			3,158,437		1,155,032

TOTAL ASSETS LESS CURRENT LIABILITIES			3,337,753		1,258,224

Creditors: Amounts Falling Due After More Than One Year	10		(18,909 )		(24,593 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(40,235 )		(18,449 )

NET ASSETS			3,278,609		1,215,182

CAPITAL AND RESERVES
Called up share capital	12		2		2
Share premium account			3,139,249		1,016,689
Other reserves			105,097		25,331
Profit and Loss Account			34,261		173,160

SHAREHOLDERS' FUNDS			3,278,609		1,215,182