Company registration number 02408671 (England and Wales)
BERTSCHI U. K. LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
BERTSCHI U. K. LIMITED
COMPANY INFORMATION
Directors
Hr H J Bertschi
Fr B Berner
Mr P Smithyman
Secretary
Fr B Berner
Company number
02408671
Registered office
Middlesbrough Road East
South Bank
Middlesbrough
Cleveland
TS6 6TZ
Auditor
Davies Tracey
Swan House
Westpoint Road
Teesdale Business Park
Stockton on Tees
TS17 6BP
BERTSCHI U. K. LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Statement of comprehensive income
7
Balance sheet
8
Statement of changes in equity
9
Statement of cash flows
10
Notes to the financial statements
11 - 21
BERTSCHI U. K. 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

Turnover and gross margin both fell in 2025 due to global factors which affected the group overall. Tight cost control ensured that overheads remained stable.

Turnover from haulage and transport increased by approximately £1,700,000 and that from warehousing decreased by approximately £4,400,000 to £11,094,338 and £8,191,680.

Overall, the company generated an operating profit for the year of £1,624,002 compared with £5,102,692 in 2024 and a pre-tax profit of £1,454,180 compared with £4,824,671 in 20 24.

During the year the company repaid £3,607,820 of long term debt. Working capital at 31 December 202 5 has de creased by approximately £3,900,000 compared with 20 24. Net assets at 31 December 202 5 stand at £14,429,761.

Principal risks and uncertainties

The board aims to minimised financial risk at all times.

The financial risks faced by the company are mitigated as the majority of the haulage and transport operations are carried out on behalf of the parent company. Furthermore, financing is provided by the parent company and other group companies at low interest rates. Policies and procedures exist to ensure that appropriate credit limits are set and debts monitored in respect of third party customers. Credit references are obtained for new customers where considered appropriate.

By order of the board

Fr B Berner
Secretary
13 March 2026
BERTSCHI U. K. LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

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

Principal activities

The principal activities of the company continued to be that of warehousing and haulage contractors.

Results and dividends

The results for the year are set out on page 7.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

Directors

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

Hr H J Bertschi
Fr B Berner
Mr P Smithyman
Future developments

We have 5 new trucks and 4 new chassis on order for 2026, these will replace older equipment once again improving efficiencies and reducing running costs. The purchase of TTE and redevelopment of the site will allow for increased storage for both bulk container and packed goods allowing further growth, this will obviously be dependent on the success of winning new customers in line with the long term growth plan from HQ for the group.

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.

Disclosure in the Strategic Report

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.

BERTSCHI U. K. LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -
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.

By order of the board
Fr B Berner
Secretary
13 March 2026
BERTSCHI U. K. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BERTSCHI U. K. LIMITED
- 4 -
Opinion

We have audited the financial statements of Bertschi U. K. 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, the statement of cash flows 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.

BERTSCHI U. K. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BERTSCHI U. K. LIMITED (CONTINUED)
- 5 -
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.

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 the extent to which an audit conducted under ISAs (UK) is capable of detecting irregularity, including fraud. Our procedures include:

- obtaining an understanding of the legal and regulatory frameworks applicable to the company, such as th e Companies Act 2006;

- obtaining an understanding of how the company complies with the applicable legal and regulatory frameworks;

- assessing the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, with audit procedures including reviewing internal controls, testing supporting documentation, enquiring of company management and obtaining written confirmation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

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.

BERTSCHI U. K. LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BERTSCHI U. K. LIMITED (CONTINUED)
- 6 -

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.

Christopher Neasham (Senior Statutory Auditor)
For and on behalf of Davies Tracey
Chartered Accountants and Statutory Auditors
Swan House
Westpoint Road
Teesdale Business Park
Stockton on Tees
TS17 6BP
19 March 2026
BERTSCHI U. K. LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 7 -
2025
2024
Notes
£
£
Turnover
2
19,286,018
21,962,065
Cost of sales
(8,242,465)
(7,024,072)
Gross profit
11,043,553
14,937,993
Administrative expenses
(9,466,695)
(9,969,075)
Other operating income
47,144
133,774
Operating profit
3
1,624,002
5,102,692
Interest receivable and similar income
6
24,977
37,647
Interest payable and similar expenses
7
(194,799)
(315,668)
Profit before taxation
1,454,180
4,824,671
Tax on profit
8
(423,314)
(1,264,113)
Profit for the financial year
1,030,866
3,560,558

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

BERTSCHI U. K. LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 8 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
9
14,746,252
13,462,325
Current assets
Stocks
10
82,423
129,741
Debtors
11
3,971,796
3,986,819
Cash at bank and in hand
3,801,170
4,268,465
7,855,389
8,385,025
Creditors: amounts falling due within one year
12
(5,750,460)
(2,340,280)
Net current assets
2,104,929
6,044,745
Total assets less current liabilities
16,851,181
19,507,070
Creditors: amounts falling due after more than one year
13
(1,795,701)
(5,403,521)
Provisions for liabilities
Deferred tax liability
14
625,719
704,654
(625,719)
(704,654)
Net assets
14,429,761
13,398,895
Capital and reserves
Called up share capital
15
300,000
300,000
Profit and loss reserves
16
14,129,761
13,098,895
Total equity
14,429,761
13,398,895
The financial statements were approved by the board of directors and authorised for issue on 13 March 2026 and are signed on its behalf by:
Hr H J Bertschi
Director
Company registration number 02408671 (England and Wales)
BERTSCHI U. K. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2024
300,000
9,538,337
9,838,337
Year ended 31 December 2024:
Profit and total comprehensive income
-
3,560,558
3,560,558
Balance at 31 December 2024
300,000
13,098,895
13,398,895
Year ended 31 December 2025:
Profit and total comprehensive income
-
1,030,866
1,030,866
Balance at 31 December 2025
300,000
14,129,761
14,429,761
BERTSCHI U. K. LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 10 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
8,216,537
6,362,708
Income taxes paid
(2,094,564)
(1,254,988)
Net cash inflow from operating activities
6,121,973
5,107,720
Investing activities
Purchase of tangible fixed assets
(2,828,169)
(1,674,758)
Proceeds from disposal of tangible fixed assets
16,543
29,833
Interest received
24,977
37,647
Net cash used in investing activities
(2,786,649)
(1,607,278)
Financing activities
Repayment of borrowings
(3,607,820)
(4,027,644)
Interest paid
(194,799)
(315,668)
Net cash used in financing activities
(3,802,619)
(4,343,312)
Net decrease in cash and cash equivalents
(467,295)
(842,870)
Cash and cash equivalents at beginning of year
4,268,465
5,111,335
Cash and cash equivalents at end of year
3,801,170
4,268,465
BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 11 -
1
Accounting policies
Company information

Bertschi U. K. Limited is a private company limited by shares incorporated in England and Wales. The registered office is Middlesbrough Road East, South Bank, Middlesbrough, Cleveland, TS6 6TZ.

1.1
Accounting convention

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.

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

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

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.

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:

Freehold land and buildings
2% on cost
Plant and equipment
10%, 5% and 2% on cost
Equipment
20% on cost
Motor vehicles
25% on cost

Freehold land and assets in the course of construction are not depreciated.

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
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.

BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 12 -

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.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, 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.

Derecognition of financial assets

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.

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.

BERTSCHI U. K. 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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are s ubsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

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

1.7
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.

1.8
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.

BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 14 -
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.

1.9
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.

1.10
Retirement benefits

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

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss 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 s asset are consumed.

1.12
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
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Haulage and Transport
11,094,338
9,391,237
Warehousing
8,191,680
12,570,828
19,286,018
21,962,065
BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Turnover and other revenue
(Continued)
- 15 -
2025
2024
£
£
Other revenue
Interest income
24,977
37,647
3
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Exchange (gains)/losses
(87,429)
63,875
Fees payable to the company's auditor for the audit of the company's financial statements
7,105
6,680
Depreciation of owned tangible fixed assets
1,540,234
1,378,173
Profit on disposal of tangible fixed assets
(12,535)
(28,396)
Operating lease charges
-
305,805
4
Employees

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

2025
2024
Number
Number
Number of directors
3
3
Number of distribution staff
125
127
Number of administrative
8
9
Total
136
139

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
5,746,209
5,738,615
Social security costs
725,611
637,810
Pension costs
183,729
221,268
6,655,549
6,597,693
BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 16 -
5
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
96,003
37,820
Company pension contributions to defined contribution schemes
29,722
50,334
125,725
88,154

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

6
Interest receivable and similar income
2025
2024
£
£
Interest income
Other interest income
24,977
37,647
7
Interest payable and similar expenses
2025
2024
£
£
Interest on financial liabilities measured at amortised cost:
Interest payable to group undertakings
173,079
291,476
Other finance costs:
Other interest
21,720
24,192
194,799
315,668
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
502,334
1,074,564
Adjustments in respect of prior periods
(85)
-
0
Total current tax
502,249
1,074,564
Deferred tax
Origination and reversal of timing differences
(78,935)
189,549
Total tax charge
423,314
1,264,113
BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
8
Taxation
(Continued)
- 17 -

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
1,454,180
4,824,671
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
363,545
1,206,168
Tax effect of expenses that are not deductible in determining taxable profit
59,854
57,945
Under/(over) provided in prior years
(85)
-
0
Taxation charge for the year
423,314
1,264,113
9
Tangible fixed assets
Freehold land and buildings
Assets under construction
Plant and equipment
Equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 January 2025
8,255,279
3,792
10,606,768
454,699
11,047,597
30,368,135
Additions
1,971,459
49,010
19,013
13,439
775,248
2,828,169
Disposals
-
0
(3,792)
(24,580)
-
0
(716,913)
(745,285)
At 31 December 2025
10,226,738
49,010
10,601,201
468,138
11,105,932
32,451,019
Depreciation and impairment
At 1 January 2025
1,557,487
-
0
6,076,752
301,932
8,969,639
16,905,810
Depreciation charged in the year
159,956
-
0
357,090
87,686
935,502
1,540,234
Eliminated in respect of disposals
-
0
-
0
(24,364)
-
0
(716,913)
(741,277)
At 31 December 2025
1,717,443
-
0
6,409,478
389,618
9,188,228
17,704,767
Carrying amount
At 31 December 2025
8,509,295
49,010
4,191,723
78,520
1,917,704
14,746,252
At 31 December 2024
6,697,792
3,792
4,530,016
152,767
2,077,958
13,462,325
10
Stocks
2025
2024
£
£
Raw materials and consumables
82,423
129,741
BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 18 -
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,873,401
2,598,350
Corporation tax recoverable
1,097,666
-
0
Amounts owed by group undertakings
424,884
1,185,624
Other debtors
337,032
2,063
Prepayments and accrued income
238,813
200,782
3,971,796
3,986,819
12
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
567,497
567,438
Amounts owed to group undertakings
4,217,002
335,332
Corporation tax
-
0
494,649
Other taxation and social security
238,102
269,634
Other creditors
354,480
354,666
Accruals and deferred income
373,379
318,561
5,750,460
2,340,280
13
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Amounts owed to group undertakings
1,795,701
5,403,521
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
633,643
711,054
Other timing differences
(7,924)
(6,400)
625,719
704,654
BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
14
Deferred taxation
(Continued)
- 19 -
2025
Movements in the year:
£
Liability at 1 January 2025
704,654
Credit to profit or loss
(78,935)
Liability at 31 December 2025
625,719
15
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
300,000
300,000
300,000
300,000
16
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
13,098,895
9,538,337
Profit for the year
1,030,866
3,560,558
At the end of the year
14,129,761
13,098,895
17
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
£
£
Aggregate compensation
270,112
302,346
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Sales
Sales
Purchases
Purchases
2025
2024
2025
2024
£
£
£
£
Entities with control, joint control or significant influence over the company
(2,912,820)
(7,796,668)
1,068,609
382,523
Other related parties
(169,984)
(248,218)
-
1,197
BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
17
Related party transactions
(Continued)
- 20 -
Interest payable
Other recharges
2025
2024
2025
2024
£
£
£
£
Entities with control, joint control or significant influence over the company
173,079
291,476
(64,581)
(71,296)
2025
2024
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
(4,216,853)
(335,332)
Entities with control, joint control or significant influence over the company - loans
(1,795,701)
(5,403,521)
Other related parties
(150)
-

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
424,495
1,170,942
Other related parties
390
14,682
18
Ultimate controlling party

The ultimate parent company is Bertschi Holding AG, a company incorporated in Switzerland which prepares group accounts. Bertschi Holding AG is controlled by Hr H J Bertschi and his family.

BERTSCHI U. K. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 21 -
19
Cash generated from operations
2025
2024
£
£
Profit after taxation
1,030,866
3,560,558
Adjustments for:
Taxation charged
423,314
1,264,113
Finance costs
194,799
315,668
Investment income
(24,977)
(37,647)
Gain on disposal of tangible fixed assets
(12,535)
(28,396)
Depreciation and impairment of tangible fixed assets
1,540,234
1,378,173
Movements in working capital:
Decrease in stocks
47,318
60,014
Decrease/(increase) in debtors
1,112,689
(306,514)
Increase in creditors
3,904,829
156,739
Cash generated from operations
8,216,537
6,362,708
20
Analysis of changes in net funds/(debt)
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
4,268,465
(467,295)
3,801,170
Borrowings excluding overdrafts
(5,403,521)
3,607,820
(1,795,701)
(1,135,056)
3,140,525
2,005,469
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