NX Lifestyle Logistics UK Ltd

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

1. General Information

NX Lifestyle Logistics UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04500617 . The registered office is Unit 2 Lancaster Way, Stratton Business Park, Biggleswade, Bedfordshire, SG18 8YL.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis, which assumes that the Company will continue in operational existence for the foreseeable future.

In making this assessment, the directors have considered the Company’s financial performance for the year ended 31 December 2025, its current financial position, forecast cash flows, committed operating lease obligations, and access to funding. The Company incurred a loss for the year ended 31 December 2025; however, the directors have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of these financial statements which demonstrate that the Company is expected to be able to meet its liabilities as they fall due.

The Company forms part of a wider group. The directors have received confirmation from the Company’s parent undertaking that it will provide financial support to the Company, as required, for a period of at least twelve months from the date of approval of these financial statements, to enable the Company to continue to meet its obligations as they fall due.

Based on this assessment, the directors consider it appropriate to prepare the financial statements on a going concern basis and have not identified any material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.

2.3. Turnover

• The company operates in the transport support activities, in the logistics sector, providing services that facilitate the movement of goods efficiently.

• Previously the company offered curb side delivery services and has now expanded to inside delivery services, where the company delivers the furniture to the property of the customer, unpacking the item, installing the item, and removing and disposing of empty boxes. The company also offers customers storage services.

• Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of services is recognised when goods have been delivered to customers such that risks and rewards of ownership have been transferred to them.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets relate to the software purchased to streamline the logistics process in the company.

Software costs are amortised at a rate of 33% on a reducing balance basis.

2.5. Tangible Fixed Assets and Depreciation

• Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

• The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

• Depreciation is charged to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Warehouse equipment	33% reducing balance
Fixtures & Fittings	33% reducing balance
Computer Equipment	33% reducing balance

• A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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NX Lifestyle Logistics UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. 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.

2.7. Taxation

• The tax expense for the period comprises current tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

• The current income tax charge is calculated based on tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2.8. Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.

2.9. Presentation currency

The accounts are presented in £ Sterling

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2025	2024
Office and administration	16	16

	16	16

4. Intangible Assets

	Capitalised Software Costs	Capitalised Legal Costs	Total
	£	£	£
Cost
As at 1 January 2025	75,961	-	75,961
Additions	20,099	169,229	189,328
Disposals	(9,304 )	-	(9,304 )

As at 31 December 2025	86,756	169,229	255,985

...CONTINUED

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NX Lifestyle Logistics UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Amortisation
As at 1 January 2025	65,097	-	65,097
Provided during the period	7,469	14,122	21,591
Disposals	(9,123 )	-	(9,123 )

As at 31 December 2025	63,443	14,122	77,565

Net Book Value
As at 31 December 2025	23,313	155,107	178,420

As at 1 January 2025	10,864	-	10,864

5. Tangible Assets

	Warehouse equipment	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	222,463	100,660	59,409	382,532
Additions	245,689	15,979	22,111	283,779
Disposals	(198,814 )	(66,714 )	(30,551 )	(296,079 )

As at 31 December 2025	269,338	49,925	50,969	370,232

Depreciation
As at 1 January 2025	170,902	89,422	37,698	298,022
Provided during the period	59,662	5,923	12,049	77,634
Disposals	(167,769 )	(63,877 )	(27,072 )	(258,718 )

As at 31 December 2025	62,795	31,468	22,675	116,938

Net Book Value
As at 31 December 2025	206,543	18,457	28,294	253,294

As at 1 January 2025	51,561	11,238	21,711	84,510

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	300,746	436,100
Prepayments and accrued income	142,937	190,327
Other debtors	32,874	-
VAT	19,897	22,559
Amounts owed by group undertakings	291,057	283,675

	787,511	932,661
Due after more than one year
Deferred tax current asset	93,205	-

	880,716	932,661

The provision for deferred tax is made up as follows:

The deferred tax asset at the balance sheet date relates primarily to trading losses and deductible temporary differences. The directors consider that it is probable that sufficient future taxable profits will be available against which the deferred tax asset can be utilised.

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NX Lifestyle Logistics UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	357,369	312,318
Bank loans and overdrafts	166,600	-
Corporation tax	-	32,873
Other taxes and social security	10,653	8,705
Net wages	4,900	2,500
Other creditors	18,514	16,554
Accruals and deferred income	14,627	99,589
Amounts owed to group undertakings	20,865	45,978

	593,528	518,517

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

	2025	2024
	£	£
Long Term Borrowings	291,750	-

Intercompany borrowings comprise loan facilities provided by a fellow group company, Nippon Express Italia S.p.A. The loan is interest-bearing and are repayable in instalments over periods extending beyond one year. The loan is unsecured on the assets of the company.

9. Provisions for Liabilities


	Other Provisions	Total
	£	£
As at 1 January 2025	110,051	110,051
Additions	163,000	163,000

Balance at 31 December 2025	273,051	273,051

A provision has been made for lease dilapidations in relation to the leased property. This provision covers estimated costs associated with the restoration or repair work required under the terms of the lease agreement. The amount reflects the best estimate of future obligations expected to arise at the end of the lease term.

10. Share Capital

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

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NX Lifestyle Logistics UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

11. Other Commitments

At the end of the period the company had annual commitments under non-cancellable operating leases as follows:

	2025	2024
	£	£
Not later than one year	1,306,929	367,668
Later than one year and not later than five years	5,210,564	-
Later than five years	5,243,130	-

	11,760,623	367,668

12. Related Party Transactions

NX Lifestyle Logistics Swiss SA

During the year services were provided by the company to NX lifestyle Logistics Swiss SA in the sum of £155,771.30 (2024: £47,953.59). It is the directors opinion that all transactions took place at open market rates. At the balance sheet date the amount from NX lifestyle logistics Swiss SA was £14,045.17 (2024: £14,850.49).

NX Lifestyle Logistics Netherlands

During the year services were provided by the company to NX lifestyle Logistics Netherlands in the sum of £67,184.30 (2024: £0). It is the directors opinion that all transactions took place at open market rates. At the balance sheet date the amount from NX lifestyle logistics Netherlands was £23,411.73 (2024: £0).

NX Lifestyle Logistics USA

During the year services were provided by the company to NX lifestyle Logistics USA in the sum of £2,401.20 (2024: £0). It is the directors opinion that all transactions took place at open market rates. At the balance sheet date the amount from NX lifestyle logistics USA was £0 (2024:£0).

NX Lifestyle Freight Forwarding USA Inc

During the year services were provided by the company to NX Lifestyle Freight Forwarding USA Inc in the sum of £4,854.99 (2024: £0). It is the directors opinion that all transactions took place at open market rates. At the balance sheet date the amount from NX Lifestyle Freight Forwarding USA Inc was £1,849.99 (2024:£0).

DD Cargo SRL

During the year services were provided by the company to DD Cargo SRL in the sum of £79,690.65 (2024: £49,657.39). It is the directors opinion that all transactions took place at open market rates. At the balance sheet date the amount from DD Cargo SRL was £23,018.75 (2024: £21,998).

Nippon Express Italia S.P.A

During the year services were provided by the company to Nippon Express Italia S.P.A in the sum of £588,819.12 (2024: £85,993.50). It is the directors opinion that all transactions took place at open market rates. At the balance sheet date the amount from Nippon Express Italia S.P.A was £208,289.95 (2024: £153,890.08).

13. Ultimate Controlling Party

NX Lifestyle Logistics UK Ltd is owned 100% by NX Lifestyle Logistics Swiss SA was previously known by Tramo SA but had a change of company name on 9 January 2025.

The company's ultimate controlling party is Nippon Express Holdings Inc. by virtue of their ownership of 100% of NX Lifestyle Logistics Swiss SA. Nippon Express Holdings Inc.is listed on the Japanese stock exchange.

The registered office of Nippon Express Holdings Inc is:

Via Vita

6 6855 Stabio

Switzerland

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NX Lifestyle Logistics UK Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

14. Change of name

With the effect of 2 January 2025, the name of the Company was changed from Tramo (UK) Ltd to NX Lifestyle Logistics UK Ltd.

15. Audit Information

The auditor's report on the accounts of NX Lifestyle Logistics UK Ltd for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Amy Claire Hancock (Senior Statutory Auditor) for and on behalf of Hancock and Hastings Limited , Statutory Auditor.

Hancock and Hastings Limited

Suite 2 Ashton Square Business Centre

22 Ashton Square

Dunstable

LU6 3SN

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		178,420		10,864
Tangible Assets	5		253,294		84,510

			431,714		95,374
CURRENT ASSETS
Debtors	6	880,716		932,661
Cash at bank and in hand		596,824		863,723

		1,477,540		1,796,384
Creditors: Amounts Falling Due Within One Year	7	(593,528 )		(518,517 )

NET CURRENT ASSETS (LIABILITIES)			884,012		1,277,867

TOTAL ASSETS LESS CURRENT LIABILITIES			1,315,726		1,373,241

Creditors: Amounts Falling Due After More Than One Year	8		(291,750 )		-

PROVISIONS FOR LIABILITIES
Provisions For Charges	9		(273,051 )		(110,051 )

NET ASSETS			750,925		1,263,190

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and Loss Account			750,923		1,263,188

SHAREHOLDERS' FUNDS			750,925		1,263,190

Mr Enrico Rosa Director	Mr Yojiro Sugiki Director
08/05/2026