Company No: 04241108 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Robertus Leonardus Joseph Ewalds
	Justine O'Malley

SECRETARY

Laura Jane Cooper

REGISTERED OFFICE	1 Parker Avenue
	Felixstowe
	IP11 4AG
	United Kingdom

COMPANY NUMBER

04241108 (England and Wales)

AUDITOR	Grant Thornton UK LLP
	Statutory Auditor
	Unit 7
	Tollgate Business Park
	Colchester
	Essex
	CO3 8AB

BANKERS	Barclays Bank plc
	35 Victoria Street
	Freshney Place
	Grimsby
	DN31 1DL

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	25,763		11,950
Tangible assets	4	15,892		26,853
		41,655		38,803
Current assets
Debtors	5	497,180		475,794
Cash at bank and in hand		597,007		812,554
		1,094,187		1,288,348
Creditors: amounts falling due within one year	6	( 446,441)		( 494,933)
Net current assets		647,746		793,415
Total assets less current liabilities		689,401		832,218
Provision for liabilities	7	( 10,414)		( 6,713)
Net assets		678,987		825,505
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		678,887		825,405
Total shareholder's funds		678,987		825,505

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Gaston Schul Customs Ltd (registered number: 04241108) were approved and authorised for issue by the Board of Directors on 29 May 2026. They were signed on its behalf by:

Justine O'Malley Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gaston Schul Customs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Parker Avenue, Felixstowe, IP11 4AG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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. Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Customs clearance - revenue is recognised in point in time at the customs cleared date.

Consultancy - revenue is recognised when the service is provided.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the company operates and generates income.

Deferred tax
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
• The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
• Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

10 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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 payments 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. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	26		30

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 January 2025	11,950		11,950
Additions	22,400		22,400
At 31 December 2025	34,350		34,350
Accumulated amortisation
At 01 January 2025	0		0
Charge for the financial year	8,587		8,587
At 31 December 2025	8,587		8,587
Net book value
At 31 December 2025	25,763		25,763
At 31 December 2024	11,950		11,950

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2025	76,706		76,706
Additions	2,692		2,692
At 31 December 2025	79,398		79,398
Accumulated depreciation
At 01 January 2025	49,853		49,853
Charge for the financial year	13,653		13,653
At 31 December 2025	63,506		63,506
Net book value
At 31 December 2025	15,892		15,892
At 31 December 2024	26,853		26,853

5. Debtors

	2025		2024
	£		£
Trade debtors	433,470		446,711
Other debtors	63,710		29,083
	497,180		475,794

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	36,037		80,168
Amounts owed to Group undertakings	6,762		0
Taxation and social security	69,389		87,519
Other creditors	334,253		327,246
	446,441		494,933

7. Provision for liabilities

	2025		2024
	£		£
Deferred tax	10,414		6,713

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	9,843		2,376
between one and five years	17,226		1,267
Total future minimum lease payments under non-cancellable operating leases	27,069		3,643

10. Related party transactions

The company pays for recharged management and administrative costs provided by other group companies and all transactions are on normal commercial terms.

At the end of the reporting period there is a balance owed from the company to a connected company, Gaston Schul Facilities B.V., of £6,762.
This liability has been paid after the end of the reporting period.

11. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2025 was unqualified.

The audit report was signed by Archie Rwavazhinji ACA on behalf of Grant Thornton UK LLP.

12. Ultimate controlling party

The parent company is Gaston Schul International BV located in the Netherlands and holding 100% of the share capital of Gaston Schul Customs Ltd.

The ultimate controlling party is Mr Robertus Leonardus Joseph Ewalds who controls the ultimate parent company Le Vertige Beheer BV also based in the Netherlands.