FOR THE YEAR ENDED 31 DECEMBER 2025
BRABANTIA (U.K.) LIMITED
COMPANY INFORMATION
BRABANTIA (U.K.) LIMITED
CONTENTS
BRABANTIA (U.K.) LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
Principal activities and review of the business
The Company’s key financial indicators during the year were as follows:
Average number of employees: 61 (2024: 64)
Turnover decreased by 2% in 2025 to £24,358,515 (2024: £24,886,827), reflecting softer consumer demand and reduced sales volumes across key channels. Gross profit increased by 4% to £9.3m, driven by improved product mix and reductions in cost of goods sold.
Distribution costs reduced by 6% due to improved freight efficiency and lower shipment volumes. Administrative expenses increased by 8% to £8.7m, primarily driven by higher operating costs, including staff-related expenses and ongoing investment in business infrastructure.
Operating profit decreased to £473k (2024: £1.5m), largely due to a £300k downward revaluation of the Company’s investment property compared to a £770k uplift in the prior year, alongside increased overhead costs.
Profit after tax reduced to £319k (2024: £1.1m), reflecting the lower operating performance and absence of favourable fair value movements seen in the prior year. During the year, the Company paid an interim dividend of £1,290,000, reducing shareholders’ funds to £6.4m at the year end.
Turnover decreased by 2% in 2025 to £24,358,515 (2024: £24,886,827), reflecting softer consumer demand and reduced sales volumes across key channels. Gross profit increased by 4% to £9.3m, driven by improved product mix and reductions in cost of goods sold.
Distribution costs reduced by 6% due to improved freight efficiency and lower shipment volumes. Administrative expenses increased by 8% to £8.7m, primarily driven by higher operating costs, including staff-related expenses and ongoing investment in business infrastructure.
Operating profit decreased to £473k (2024: £1.5m), largely due to a £300k downward revaluation of the Company’s investment property compared to a £770k uplift in the prior year, alongside increased overhead costs.
Profit after tax reduced to £319k (2024: £1.1m), reflecting the lower operating performance and absence of favourable fair value movements seen in the prior year. During the year, the Company paid an interim dividend of £1,290,000, reducing shareholders’ funds to £6.4m at the year end.
Future developments
There will be no change in the Company’s principal activity. The Company will continue to focus on improving operational efficiency, managing costs, and strengthening profitability in a challenging consumer environment.
Page 1
BRABANTIA (U.K.) LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
The Company continues to monitor financial, operational and external risks, with regular review by the Board.
The principal risks and uncertainties are as follows:
∙Ongoing geopolitical uncertainty and global economic conditions may continue to impact consumer confidence and demand.
∙Inflationary pressures are expected to stabilise, although cost increases, particularly in labour and overheads, remain a risk.
∙Interest rates are expected to ease, which may support consumer spending, although the timing and impact remain uncertain.
∙Foreign exchange movements, particularly GBP against EUR, may impact the cost base and margins.
∙Inventory management remains a key focus, with the risk of overstocking or slow-moving inventory impacting profitability and cash flow.
∙Changes in taxation, environmental regulation, and compliance requirements may increase operational costs.
This report was approved by the board and signed on its behalf.
Page 2
1
BRABANTIA (U.K.) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors present their report and the financial statements for the year ended 31 December 2025.
The profit for the year, after taxation, amounted to £318,940 (2024:£1,105,644).
The directors proposed and paid an interim dividend of £1,290,000 during the year.
The directors who served during the year were:
Future developments are disclosed in the strategic report.
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
Page 3
BRABANTIA (U.K.) LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2025
The directors are responsible for preparing the Strategic report, the Directors' 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 applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙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 to 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.
Page 4
BRABANTIA (U.K.) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRABANTIA (U.K.) LIMITED
We have audited the financial statements of Brabantia (U.K.) Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of 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 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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' 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.
Page 5
BRABANTIA (U.K.) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRABANTIA (U.K.) LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report 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.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report.
Page 6
BRABANTIA (U.K.) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRABANTIA (U.K.) LIMITED (CONTINUED)
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 Auditors' 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 detailed below:
∙We have considered the nature of the industry and sector, control environment and business performance.
∙We have considered the results of our enquiries of management, those charged with governance about their own identification and assessment of the risk of irregularities.
∙For any matters identified we have obtained and reviewed the Company's documentation of their policies and procedures relating to:
°identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
°detecting and responding to the risk of fraud and whether they have any knowledge of actual, suspected, or alleged fraud; and
°the internal controls established to mitigate the risks of fraud or non-compliance with laws and regulations
We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, and identified the greatest potential for fraud as incorrect recognition of revenue. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.
We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102, and tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or to avoid a material penalty. These included: health and safety, employment legislation, and data protection regulations.
Our procedures to respond to risks identified included the following:
∙Performing various substantive tests of detail related to the recognition of revenue.
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
∙Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue and purchase cut off;
∙Enquiring of management concerning actual and potential litigation claims;
∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement or fraud; and
Page 7
BRABANTIA (U.K.) LIMITED
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF BRABANTIA (U.K.) LIMITED (CONTINUED)
∙In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
This report is made solely to the Company's directors, 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 directors those matters we are required to state to them in an Auditors' 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 directors, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
10 Temple Back
BS1 6FL
Page 8
BRABANTIA (U.K.) LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 9
BRABANTIA (U.K.) LIMITED
REGISTERED NUMBER:04936679
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 12 to 24 form part of these financial statements.
Page 10
BRABANTIA (U.K.) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 11
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Brabantia (U.K.) Limited is a private company limited by shares and incorporated in England and Wales under the Companies Act 2006. The Registered Office is Blackfriars Road, Nailsea, Bristol, BS48 4SB. The Company's principal activity is the wholesale of household goods on a contract basis. The Company's functional and presentational currency is pound sterling, and these financial statements are presented to the nearest pound.
2.ACCOUNTING POLICIES
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Brabantia (U.K.) Limited has assessed its ability to continue operating as a going concern, taking into account both internal and external challenges. The company acknowledges macroeconomic pressures such as increased National Insurance costs and stagnant wage growth, which may reduce consumer confidence and discretionary spending. However, it considers the impact of international conflicts to be minimal. The business maintains strong relationships with key customers, who show consistent trading patterns and are expected to remain stable over the coming year, reducing the risk associated with customer concentration.
The Board conducted detailed scenario testing to evaluate the resilience of the business, including the effects of reduced consumer spending and increased costs. Even under a severe revenue reduction scenario, the company is not considered to be at significant risk. The Board concluded that Brabantia UK Ltd has sufficient resources and a strong enough position to navigate the current economic climate without the need for further intervention, supporting the decision to continue using the going concern basis for its financial statements.
Functional and presentation currency
Transactions and balances
Page 12
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Page 13
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 14
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
A provision for inventory is created when the quantity of holding units exceeds the demand of the previous twelve months. Products introduced to the market within the last twelve months are not included in the provision calculation.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of financial position 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,
Page 15
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.ACCOUNTING POLICIES (CONTINUED)
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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Basic 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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Page 16
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 17
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 18
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 19
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
10.TAXATION (CONTINUED)
There were no factors that may affect future tax charges.
Page 20
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
The 2025 valuations were made by the Directors, on an open market value for existing use basis.
The valuations were based on third party valuations performed by qualified property experts.
Page 21
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Page 22
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
Share Capital
Profit and loss account
The Company operates a defined contribution pension scheme for its employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The Company paid contributions to the scheme of £201,384; (2024: £199,644). Outstanding contributions at year-end were £1,126; (2024: £25,576).
Page 23
BRABANTIA (U.K.) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The immediate parent undertaking is Brabantia International B.V., incorporated in the Netherlands. The ultimate parent undertaking and controlling party is BIS2 International Holding BV, incorporated in the Netherlands. Copies of the group financial statements of the ultimate parent Company, the parent undertaking of the largest and smallest group preparing group financial statements which include Brabantia (U.K.) Limited, may be obtained from Kamer van Koophandel, Wal 20, 5600 AK Eindhoven, The Netherlands.
Page 24