Ranson NV UK Limited
Annual Report and Financial Statements
For the year ended 31 December 2025
Company Registration No. 03368668 (England and Wales)
Ranson NV UK Limited
Company Information
Directors
C Foreman
Ranson Group BV
Secretary
C Foreman
Company number
03368668
Registered office
Central 7 Caspian Close
Stanford-le-Hope
Essex
SS17 9FN
Auditor
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Ranson NV UK Limited
Contents
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Balance sheet
10
Statement of changes in equity
11
Statement of cash flows
12
Notes to the financial statements
13 - 23
Ranson NV UK Limited
Strategic Report
For the year ended 31 December 2025
Page 1
Principal activities and review of the business

The principal activity of the company is the supply of wholesale food products.

2025 represented a year of consolidation and optimisation following the record performance achieved in 2024. This sustained success has been driven by consistent customer demand, the continued maturation of our Sales team, and the realisation of operational efficiencies following our recent infrastructure investments. While external market conditions remain influenced by the post-Brexit environment—specifically regarding trade friction between the UK and EU—the company has refined its navigation of these challenges. Management remains strictly focused on cost control and margin protection. By leveraging a balanced product mix and robust supplier relationships, we have maintained a stable performance despite broader economic fluctuations.

Please find our key financial performance indicators below:
2025
2024
2023
2022
2021
Turnover 18,482,964
15,592,566
14,952,952
13,256,567
12,678,967
Turnover growth 18.54%
4.28%
12.80%
4.55%
78.31%
Gross profit % 21.31%
24.02%
21.61%
21.94%
18.91%
Profit/ (Loss) before tax 745,652
780,122
326,353
313,291
613,320
Net profit/(loss) % 4.03%
5.00%
2.18%
2.36%
4.84%
Principal risks and uncertainties

The principal risks and uncertainties faced by the company are typical of businesses of a similar size and nature. The company is exposed to the usual credit and cash flow risks associated with trading on credit terms. To mitigate these, strong internal credit control procedures have been implemented.

Despite these measures—and the fact that our accounts receivable are fully covered by a credit insurance agreement—the company has experienced instances where customers have ceased or suspended trading. This has adversely impacted trade debtors and increased the risk of bad debt. However, the combination of robust credit controls and effective collaboration with our credit insurer has significantly reduced the financial impact of these occurrences during the reporting period.

Financial risk management objectives and policies

The company’s principal financial instruments comprise bank balances, trade receivables, trade payables, and finance lease agreements, which are primarily utilised to support the day-to-day operational financing requirements of the business. Since the end of 2019, the company has operated without external borrowing facilities, enabling operating cash flows to be focused principally on the timely settlement of supplier obligations and the continued support of business growth initiatives.

During this period, the intercompany balance with Ranson Belgium principally reflects the strategic investment in the company’s new state-of-the-art warehouse facility. This investment represents a significant enhancement to the company’s operational infrastructure and supports its long-term growth strategy within the UK market.

The company remains committed to strengthening its balance sheet and maintaining a stable and sustainable presence in the UK. Liquidity risk is managed through established financial policies and procedures governing customer credit exposure, supplier payment practices, and ongoing cash flow management. Robust internal controls are in place to monitor outstanding balances and ensure that financial obligations are settled within agreed credit terms.

The company continues to benefit from the financial and operational support of its fellow Belgian subsidiary, providing additional stability and flexibility to support future development and expansion opportunities.

Ranson NV UK Limited
Strategic Report (Continued)
For the year ended 31 December 2025
Page 2
Future developments

We remain confident that the significant investments made in both personnel and infrastructure over recent years will continue to position the company strongly for long-term sustainable growth and enable us to meet and exceed customer expectations. Ranson NV UK continues to supply a broad and diverse customer base across a wide geographical area and multiple market sectors. The continued development of our Sales team, together with a highly committed warehouse and distribution operation and strong internal administrative support, will enable the business to maintain high service levels for existing customers while continuing to attract new business opportunities.

Whilst economic uncertainty and ongoing global tensions continue to impact international markets and supply chains, these conditions also create new opportunities for the business. Changes in global trading patterns and customer sourcing strategies have led to increased demand from customers seeking reliable supply partners with strong import, logistics, and distribution capabilities within the UK market.

Following the successful relocation to our new state-of-the-art warehouse facility in 2024, 2026 will be focused on maximising the operational benefits of this significant investment. The expanded facility has substantially increased our storage and distribution capacity, improved operational efficiencies, and created a stronger platform for future growth. The warehouse infrastructure and advanced systems now in place will support enhanced inventory management, improved service performance, and future scalability as the business continues to expand.

Although growth and expansion naturally carry a degree of risk, the continued commitment and support from Ranson Group provide the company with confidence in pursuing its strategic objectives within the UK market. The business remains in a strong position to further increase market penetration across all core sectors, and management believes there remains substantial untapped potential for continued development.

Looking ahead, the company intends to further strengthen its commercial structure through continued investment in specialised sales personnel and operational resources. This will allow greater strategic focus across the three principal sectors served by the business — Industry, Artisan, and Wholesale — enhancing both purchasing and sales capabilities and improving the company’s ability to respond to evolving customer requirements and market opportunities.

In addition, the company will continue to strengthen collaboration between Ranson UK and Ranson Group in Belgium, particularly in the areas of procurement, marketing, and strategic management. Closer integration between both organisations is expected to deliver operational efficiencies, improved commercial opportunities, and continued support for the company’s long-term growth ambition.

On behalf of the board

Authorised signatory of
Ranson Group BV
Director
24 June 2026
Ranson NV UK Limited
Directors' Report
For the year ended 31 December 2025
Page 3

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

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £186,413 (202 4: £195,031). The directors do not recommend payment of a further dividend.

Directors

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

C Foreman
Ranson Group BV
Research and development

The company does not undertake any research and development activities.

Auditor

The auditor, Moore Kingston Smith LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.

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.

Matters included 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. It has done so in respect of financial risk management and future developments.

Ranson NV UK Limited
Directors' Report (Continued)
For the year ended 31 December 2025
Page 4
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.

On behalf of the board
Ranson Group BV
Director
24 June 2026
Ranson NV UK Limited
Independent Auditor's Report
To the Members of Ranson NV UK Limited
Page 5
Opinion

We have audited the financial statements of Ranson NV UK 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.

Ranson NV UK Limited
Independent Auditor's Report
To the Members of Ranson NV UK Limited (Continued)
Page 6

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.

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 detailed below.

Ranson NV UK Limited
Independent Auditor's Report
To the Members of Ranson NV UK Limited (Continued)
Page 7

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:

- We obtained an understanding of the legal and regulatory requirements applicable to the company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council, and UK taxation legislation.

- We obtained an understanding of how the company complies with these requirements by discussions with management and those charged with governance.

- We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance.

- We inquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations.

- Based on this understanding, we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company’s internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

- Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Ranson NV UK Limited
Independent Auditor's Report
To the Members of Ranson NV UK Limited (Continued)
Page 8

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.

Paul Springfield
Senior Statutory Auditor
for and on behalf of Moore Kingston Smith LLP
24 June 2026
Chartered Accountants
Statutory Auditor
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Ranson NV UK Limited
Statement of Comprehensive Income
For the year ended 31 December 2025
Page 9
2025
2024
Notes
£
£
Turnover
3
18,482,964
15,592,566
Cost of sales
(14,544,617)
(11,847,185)
Gross profit
3,938,347
3,745,381
Distribution costs
(443,983)
(266,864)
Administrative expenses
(2,798,712)
(2,950,895)
Other operating income
4
50,000
252,500
Profit before taxation
745,652
780,122
Tax on profit
8
62,806
(196,701)
Profit for the financial year
808,458
583,421

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

There are no recognised gains and losses other than those passing through the profit and loss account.

Ranson NV UK Limited
Balance Sheet
As at 31 December 2025
Page 10
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
2,249,721
2,304,068
Current assets
Stock
11
2,051,059
1,795,086
Debtors
12
3,001,583
4,567,697
Cash at bank and in hand
690,408
1,562,949
5,743,050
7,925,732
Creditors: amounts falling due within one year
13
(4,156,142)
(6,952,410)
Net current assets
1,586,908
973,322
Total assets less current liabilities
3,836,629
3,277,390
Provisions for liabilities
14
(143,705)
(206,511)
Net assets
3,692,924
3,070,879
Capital and reserves
Called up share capital
16
100
100
Capital redemption reserve
390,000
390,000
Profit and loss reserves
3,302,824
2,680,779
Total equity
3,692,924
3,070,879
The financial statements were approved by the board of directors and authorised for issue on 24 June 2026 and are signed on its behalf by:
Authorised signatory of
Ranson Group BV
Director
Company Registration No. 03368668
Ranson NV UK Limited
Statement of Changes in Equity
For the year ended 31 December 2025
Page 11
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
100
390,000
2,292,389
2,682,489
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
583,421
583,421
Dividends
9
-
-
(195,031)
(195,031)
Balance at 31 December 2024
100
390,000
2,680,779
3,070,879
Period ended 31 December 2025:
Profit and total comprehensive income
-
-
808,458
808,458
Dividends
9
-
-
(186,413)
(186,413)
Balance at 31 December 2025
100
390,000
3,302,824
3,692,924
Ranson NV UK Limited
Statement of Cash Flows
For the year ended 31 December 2025
Page 12
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
21
(1,103,388)
1,312,968
Income taxes paid
-
0
(84,477)
Net cash (outflow)/inflow from operating activities
(1,103,388)
1,228,491
Investing activities
Purchase of tangible fixed assets
(2,052,003)
(379,824)
Proceeds from disposal of tangible fixed assets
2,282,850
13,964
Net cash generated from/(used in) investing activities
230,847
(365,860)
Net cash used in financing activities
-
-
Net (decrease)/increase in cash and cash equivalents
(872,541)
862,631
Cash and cash equivalents at beginning of year
1,562,949
700,318
Cash and cash equivalents at end of year
690,408
1,562,949
Ranson NV UK Limited
Notes to the Financial Statements
For the year ended 31 December 2025
Page 13
1
Accounting policies
Company information

Ranson NV UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Central 7 Caspian Close, Stanford-le-Hope, Essex, SS17 9FN.

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 pound.

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 and for a period of at least twelve months following the approval of these financial statements. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Ranson NV UK is part of Ranson Group, which is in turn wholly active in the food business, supplying ingredients to the bakery sector (both artisan and industry) in various countries, mainly in Western Europe.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for the sale of wholesale food products in the normal course of business, net of discounts, VAT and other sales related taxes.

Revenue from the sale of wholesale food products is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer on delivery of the goods.

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:

Long leasehold land & buildings
50 years straight line
Leasehold improvements
Over life of lease
Plant and machinery
25% Straight line
Computer equipment
25% Straight line
Motor vehicles
25% Straight line

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.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 14
1.5
Stock

Stock are stated at the lower of cost and net realisable value. The directors review expiry dates of wholesale food products held as stock to minimise the need for provisions due to wastage.

Net realisable value is the estimated selling price less estimated costs of completion and costs to be incurred in marketing, sale and distribution.

1.6
Cash at bank and in hand

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.

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 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.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 15
Derecognition of financial liabilities

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

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.

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.

1.11
Retirement benefits

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

1.12
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 d asset are consumed.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
1
Accounting policies
(Continued)
Page 16
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are 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.

Critical judgements

The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 10 for the carrying value of the tangible fixed assets and policy 1.4 for the depreciation rates applied for each class of asset.

3
Turnover

An analysis of the company's turnover is as follows:

2025
2024
£
£
Turnover analysed by class of business
Sale of goods
18,482,964
15,592,566
2025
2024
£
£
Turnover analysed by geographical market
Sales - UK
18,482,964
15,517,755
Sales - Europe
-
74,811
18,482,964
15,592,566
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 17
4
Operating profit
2025
2024
Operating profit for the period is stated after charging/(crediting):
£
£
Exchange (gains) / losses
(19,308)
5,668
Depreciation of owned tangible fixed assets
188,766
58,680
Profit on disposal of tangible fixed assets
(1,097,431)
(13,964)
Operating lease charges
805,491
268,510

Included within other operating income is £50,000 related to sponsorship fee income. The prior year amount is a £252,500 fee received from a third party, granting them an option to acquire the freehold land and building owned by the company. This option has been triggered during the current period, as seen in note 10.

5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
27,325
25,170
For other services
All other non-audit services
29,524
9,325
6
Employees

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

2025
2024
Number
Number
Warehouse and distribution
15
13
Sales and administration
11
12
Total
26
25
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
6
Employees
(Continued)
Page 18

Their aggregate remuneration comprised:

2025
2024
£
£
Wages and salaries
1,073,826
1,094,474
Social security costs
109,976
96,096
Pension costs
37,493
33,323
1,221,295
1,223,893
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
97,207
180,947
Company pension contributions to defined contribution schemes
3,348
3,294
100,555
184,241

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

The directors are considered to be the only key management personnel of the company.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 19
8
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
(62,806)
196,701

The actual (credit)/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
745,652
780,122
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
186,413
195,031
Tax effect of expenses that are not deductible in determining taxable profit
11,369
1,670
Chargeable gain
11,520
-
0
Fixed asset timing differences
(272,108)
-
0
Tax (credit) / charge for the period
(62,806)
196,701

9
Dividends
2025
2024
£
£
Final paid
186,413
195,031
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 20
10
Tangible fixed assets
Long leasehold land & buildings
Leasehold improvements
Plant and machinery
Motor Vehicles
Total
£
£
£
£
£
Cost
At 1 January 2025
1,545,966
843,945
352,131
103,360
2,845,402
Additions
-
0
1,178,199
50,509
91,130
1,319,838
Disposals
(1,545,966)
-
0
-
0
(23,375)
(1,569,341)
At 31 December 2025
-
0
2,022,144
402,640
171,115
2,595,899
Depreciation and impairment
At 1 January 2025
361,898
11,523
93,559
74,354
541,334
Depreciation charged in the year
-
0
128,804
42,738
17,224
188,766
Eliminated in respect of disposals
(361,898)
-
0
-
0
(22,024)
(383,922)
At 31 December 2025
-
0
140,327
136,297
69,554
346,178
Carrying amount
At 31 December 2025
-
0
1,881,817
266,343
101,561
2,249,721
At 31 December 2024
1,184,068
832,422
258,572
29,006
2,304,068
11
Stock
2025
2024
£
£
Finished goods and goods for resale
2,051,059
1,795,086
12
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
2,195,182
2,973,640
Other debtors
627,005
1,594,057
Prepayments and accrued income
179,396
-
0
3,001,583
4,567,697
Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 21
13
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,150,004
2,712,883
Amounts due to fellow group undertakings
985,939
3,173,332
Other taxation and social security
27,202
22,312
Other creditors
31,106
20,533
Accruals and deferred income
961,891
1,023,350
4,156,142
6,952,410
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
329,450
241,710
Tax losses
(184,964)
(35,199)
Short term timing differences
(781)
-
143,705
206,511
2025
Movements in the year:
£
Liability at 1 January 2025
206,511
Credit to profit or loss
(62,806)
Liability at 31 December 2025
143,705
15
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
37,493
33,323

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 22
16
Share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
17
Financial commitments, guarantees and contingent liabilities

National Westminster Bank plc has fixed and floating charges over all assets of the business.

18
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2025
2024
£
£
Within one year
733,131
268,510
Between two and five years
2,737,257
2,825,610
In over five years
5,558,309
6,243,941
9,028,697
9,338,061
19
Related party transactions

The Company has taken exemption under FRS 102 section 33.1A from disclosing transactions with group companies, on the grounds that each company party to the transactions is wholly owned within the group.

20
Ultimate controlling party

The immediate controlling company is Ranson Group BV, a company registered in Belgium.

Ranson NV UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2025
Page 23
21
Cash (absorbed by)/generated from operations
2025
2024
£
£
Profit for the year after tax
808,458
583,421
Adjustments for:
Taxation (credited)/charged
(62,806)
196,701
Gain on disposal of tangible fixed assets
(1,097,431)
(13,964)
Depreciation and impairment of tangible fixed assets
188,766
58,680
Movements in working capital:
Increase in stock
(255,973)
(447,796)
Decrease/(increase) in debtors
1,566,114
(2,261,477)
(Decrease)/increase in creditors
(2,250,516)
3,197,403
Cash (absorbed by)/generated from operations
(1,103,388)
1,312,968
22
Analysis of changes in net funds
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
1,562,949
(872,541)
690,408
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