Company registration number 01764854 (England and Wales)
DELABIE UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
DELABIE UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
DELABIE UK LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
895,396
814,722
Investment properties
6
1,759,806
1,503,870
2,655,202
2,318,592
Current assets
Debtors
7
1,468,238
1,270,325
Cash at bank and in hand
1,062,408
1,035,796
2,530,646
2,306,121
Creditors: amounts falling due within one year
8
(2,765,925)
(2,447,797)
Net current liabilities
(235,279)
(141,676)
Total assets less current liabilities
2,419,923
2,176,916
Provisions for liabilities
(304,383)
(217,780)
Net assets
2,115,540
1,959,136
Capital and reserves
Called up share capital
10
10,000
10,000
Share premium account
193,533
193,533
Revaluation reserve
1,161,074
905,138
Profit and loss reserves
750,933
850,465
Total equity
2,115,540
1,959,136

The director of the company has elected not to include a copy of the profit and loss account within the financial statements. true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 27 May 2026
L Delabie
Director
Company Registration No. 01764854
DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Delabie UK limited is a private company limited by shares incorporated in England and Wales. The registered office is Henderson House, Hithercroft Road, Wallingford, Oxfordshire, OX10 9DG.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 under the historical cost convention, with the exception of the revaluation investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

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.

The company recognises revenue from the following major sources:

- Sale of goods

- Rental income

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Sale of goods

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rental income

Delabie UK Limited have a number of commercial rental properties which generate rental income. Income from these properties is recognised in the financial statements on the agreed date of payment to Delabie UK Limited as per signed contracts with each tenant, typically on a monthly basis.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, 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
25 years on buildings element only
Plant and equipment
2 - 5 years straight line
Fixtures and fittings
3 - 5 years straight line
Motor vehicles
20% reducing balance
Mezzanine flooring
5 years straight line
DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

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

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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.

DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
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.

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.

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.

1.8
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.

1.9
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.

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.

DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 5 -

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.

1.10
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.

1.11
Retirement benefits

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

1.12
Leases
As lessor

When the company acts as a lessor, a lease is classified as a finance lease whenever it transfers substantially all the risks and rewards of ownership of the underlying asset to the lessee, either at the end of the lease term or for the major part of the economic life of the asset. All other leases are classified as operating leases. If an arrangement contains both lease and non-lease components, the company allocates the consideration in the contract to the two elements.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.13
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.

DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 6 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

Investment property

The Directors consider that the most significant source of estimation uncertainty within the financial statements relates to the valuation of the investment property, as disclosed in Note 5. The investment property is measured at fair value, which is determined with reference to a professional valuation. The fair value is based on assumptions that reflect the views of market participants at the reporting date, including estimates of rental income, future rental growth, yields, vacancy levels and market conditions.

An external professional valuation is obtained every three years, with the most recent valuation having been carried out during the current financial year, updating the previous valuation undertaken in 2022. The next formal valuation is due in December 2028. However, the Directors continue to assess on an ongoing basis whether there are any indicators that the carrying value of the investment property may be materially misstated.

The Directors consider that the valuation incorporates market participants’ assumptions and reflects observable market evidence where available. Nevertheless, due to the nature of property valuations and the characteristics of the local property market, the valuation is subject to a degree of estimation uncertainty, and movements in key assumptions could result in material changes to the reported fair value in future periods.

Depreciation

Other sources of estimation uncertainty include the depreciation charged on tangible fixed assets. Depreciation is calculated based on the Directors’ estimates of the useful economic lives and residual values of assets, which differ by asset class. The depreciation policies applied are detailed in Note 1.3. Actual results may differ from these estimates, resulting in changes to depreciation charges in future periods.

3
Employees

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

2025
2024
Number
Number
Total
22
19
4
Dividends
2025
2024
£
£
Final paid
425,000
-
0
DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
4
Dividends
(Continued)
- 7 -

Ordinary dividends total £425,000 (2024 - £-).

During the year, the Directors approved a final dividend from profits in respect of the year ending 31 December 2024 which remained unpaid at year end.

5
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Mezzanine flooring
Total
£
£
£
£
£
£
Cost
At 1 January 2025
442,637
363,606
473,556
572,460
38,397
1,890,656
Additions
-
0
134,939
1,439
120,380
-
0
256,758
Disposals
-
0
(223,033)
(13,325)
(77,279)
(11,296)
(324,933)
At 31 December 2025
442,637
275,512
461,670
615,561
27,101
1,822,481
Depreciation and impairment
At 1 January 2025
70,987
348,890
471,719
155,341
28,997
1,075,934
Depreciation charged in the year
11,301
27,643
706
91,994
2,400
134,044
Eliminated in respect of disposals
-
0
(223,033)
(13,325)
(35,239)
(11,296)
(282,893)
At 31 December 2025
82,288
153,500
459,100
212,096
20,101
927,085
Carrying amount
At 31 December 2025
360,349
122,012
2,570
403,465
7,000
895,396
At 31 December 2024
371,650
14,716
1,837
417,119
9,400
814,722
6
Investment property
2025
£
Fair value
At 1 January 2025
1,503,870
Revaluations
255,936
At 31 December 2025
1,759,806
DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Investment property
(Continued)
- 8 -

The investment property was externally valued as at 31 December 2025 by CBRE Limited, an independent professionally qualified valuer, regulated by the Royal Institution of Chartered Surveyors (RICS) and with recent experience of valuing properties of this type and in this location.

The valuation was carried out for financial reporting purposes on the basis of fair value, which is considered equivalent to market value, in accordance with FRS 102. The valuation was prepared in accordance with the RICS Valuation – Global Standards (the “Red Book”) and the UK National Supplement and reflects market conditions at the reporting date.

The property has been valued using the investment capitalisation method, having regard to current rental income, estimated rental value, future rental growth, lease terms, vacancy assumptions and an appropriate market‑derived yield.

7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,136,286
1,108,476
Amounts owed by group undertakings
137,492
47,396
Prepayments and accrued income
194,460
114,453
1,468,238
1,270,325
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
85,023
86,024
Amounts owed to group undertakings
1,322,078
901,030
Corporation tax
259,236
177,708
Other taxation and social security
290,379
305,240
Dividends payable
425,000
-
0
Other creditors
10,029
6,286
Accruals and deferred income
374,180
971,509
2,765,925
2,447,797
DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Investment property
290,268
226,284
Difference between NBV and TWDV on fixed assets
14,115
(8,504)
304,383
217,780
2025
Movements in the year:
£
Liability at 1 January 2025
217,780
Charge to profit or loss
86,603
Liability at 31 December 2025
304,383

Notwithstanding the investment property, the deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
1,000,000
1,000,000
10,000
10,000
11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

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.

DELABIE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
11
Audit report information
(Continued)
- 10 -
Senior Statutory Auditor:
Katherine Wilkes BSc FCA
Statutory Auditor:
Gravita Audit Oxford LLP
Date of audit report:
3 June 2026
12
Contingent asset - legal dispute

During the year, a dispute with a neighbouring company occurred where property damage to Delabie UK Limited's carpark was caused. A legal dispute has begun for compensation from the offending company.

At the date of the financial statements, the likelihood of winning the case and therefore the inflow of economic benefit is probable (but not certain), and such, as per UK GAAP, a contingent asset must be disclosed in a note to the financial statements, but not recognised as an asset in the balance sheet.

The compensation potentially receivable by Delabie UK Limited is uncertain at the date of signing the financial statements, however it will be in line with costs quoted to Delabie by independent contractors to repair the damage incurred.

13
Parent company

The company's immediate parent is Delsa SCS, incorporated in France. The most senior parent entity producing available consolidated financial statements is Delabie SCS. Registered office address 18 Rue de Marechal Foch, 80130, Friville, France.

The ultimate parent is G & JD SCS, incorporated in France.

No one individual controls the ultimate parent company, G & JD SCS.

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