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Registered number: SC241535
Adapa UK Edinburgh Limited
Strategic Report, Directors' Report and
Financial Statements
For The Year Ended 31 December 2025
Adapa UK Edinburgh Limited
Contents
Contents

| Page
--- | ---
Strategic Report | 1
Directors' Report | 2
Independent Auditor's Report | 3—5
Profit and Loss Account | 6
Statement of Comprehensive Income | 7
Balance Sheet | 8
Statement of Changes in Equity | 9
Notes to the Financial Statements | 10—15

Page 1
Adapa UK Edinburgh Limited
Strategic Report
For The Year Ended 31 December 2025
Strategic Report
The directors present their strategic report for the year ended 31 December 2025.
Review of the Business
The results for the year were significantly impacted by a reduction in sales of approximately £2.0 million compared to 2024, while maintaining a largely unchanged cost structure. In addition, the write-off of the debtor balance relating to Adapa Ireland (£188k), together with the clean-up of accounts payable balances, which resulted in a negative foreign exchange impact of £175k, contributed to an overall loss before tax for the year of £592k.
For 2026, the Company has budgeted net sales of £10.3 million, representing an increase of approximately £320k over 2025. Margins are expected to remain at a similar level, which is anticipated to return the business to a break-even position.
The Company’s financial instruments, other than derivatives, comprise borrowings, cash and liquid resources, together with various items arising directly from operations, including trade debtors and trade creditors. The primary purpose of these financial instruments is to finance the Company’s operations.
The Company is exposed to the normal credit risk associated with potential non-payment by customers. However, these risks are mitigated through partial credit insurance arrangements and ongoing credit assessments, ensuring that such exposures do not threaten the Company’s financial stability.
As at May 2025, the Company had not entered into any derivative transactions. However, following the planned closure of the St Helens operation, purchases will increasingly be sourced from other Adapa entities, which predominantly invoice in Euros. As a result, management will assess whether it is appropriate to reintroduce derivative instruments to manage foreign exchange exposure.
Management’s focus for the coming years will be on increasing sales volumes while reducing cost of goods sold. These measures are expected to establish a stronger and sustainable foundation for the Company to return to profitability.
Page 1
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Adapa UK Edinburgh Limited
Company No. SC241535
Directors' Report For The Year Ended 31 December 2025
Directors' Report
The directors present their report and the financial statements for the year ended 31 December 2025.
Principal Activity
The principal activity of the company during the year was that of the importation and supply of packaging film and materials.
Directors
The directors who held office during the year were as follows:

Mr M Pawlak | Resigned | 20/11/2025
Mr M Schuetz | Appointed | 20/11/2025

Statement of Directors' Responsibilities
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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
- 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Statement of Disclosure of Information to Auditors
In the case of each director in office at the date the Directors' Report is approved:

- so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
- they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors
The auditors, ERC Accountands & Business Advisers Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
On behalf of the board

Mr M Schuetz Director
19 June 2026

Page 2
Page 3
Independent Auditor's Report
to the Members of
Adapa UK Edinburgh Limited
Independent Auditor's Report
Opinion
We have audited the financial statements of Adapa UK Edinburgh Limited for the year ended 31 December 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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/(loss) 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 the provisions available for small entities, in the circumstances set out in note 22 to the financial statements, 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 entity's ability to continue as a going concern for a period of at least 12 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. 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. In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:

- the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and 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 identified material misstatements in the Strategic Report or the Directors' Report.
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 or 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.

Page 3
Page 4
Independent Auditor's Report (continued)
to the Members of
Adapa UK Edinburgh Limited
Responsibilities of Directors
As explained more fully in the Directors' Responsibilities Statement set out on page 2, 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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.

- Enquiries with management relating to controls in place, segregation of duties and any potential litigation and claims.

- Professional scepticism is maintained in areas of potential management override of controls including cash handling.

- Inspection and reconciliation of related party balances is performed to ensure accuracy and existence.As part of an audit in accordance with ISAs (UK), we exercise professional judgment 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 performaudit 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 purpose of expressing an opinion on the effectiveness of the internal control.

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

- Conclude on the appropriateness of the director's 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.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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 that 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.
Page 4
Page 5
Independent Auditor's Report (continued)
to the Members of
Adapa UK Edinburgh Limited

Richard Brown (Senior Statutory Auditor) for and on behalf of ERC Accountands & Business Advisers Ltd , Statutory Auditor
19 June 2026

Page 5
Page 6
Adapa UK Edinburgh Limited
Profit and Loss Account
For The Year Ended 31 December 2025
Profit and Loss Account

| 2025 |  | 2024
--- | --- | --- | ---
| Notes | £ |  | £
TURNOVER | 3 | 9,983,607 |  | 12,210,135
Cost of sales |  | (8,366,183 ) |  | (9,970,101 )
GROSS PROFIT |  | 1,617,424 |  | 2,240,034
Administrative expenses |  | (2,214,458 ) |  | (2,361,983 )
OPERATING LOSS |  | (597,034 ) |  | (121,949 )
Profit on disposal of fixed assets |  | 4,652 |  | 3,553
Other interest receivable and similar income |  | - |  | 1,489
Interest payable and similar charges | 7 | 203 |  | -
LOSS BEFORE TAXATION |  | (592,179 ) |  | (116,907 )
Tax on Loss | 8 | 112,514 |  | 21,824
LOSS AFTER TAXATION BEING LOSS FOR THE FINANCIAL YEAR |  | (479,665 ) |  | (95,083 )

The notes on pages 10 to 15 form part of these financial statements.
Page 6
Page 7
Adapa UK Edinburgh Limited
Statement of Comprehensive Income
For The Year Ended 31 December 2025
Statement of Comprehensive Income

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
LOSS FOR THE FINANCIAL YEAR |  | (479,665 ) |  | (95,083 )
OTHER COMPREHENSIVE INCOME FOR THE YEAR |  | - |  | -
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |  | (479,665 ) |  | (95,083 )

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Adapa UK Edinburgh Limited
Balance Sheet
As At 31 December 2025
Balance Sheet
Registered number: SC241535

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 9 |  | 10,245 |  | 33,147
|  |  | 10,245 |  | 33,147
CURRENT ASSETS
Stocks | 10 | 428,904 |  | 276,799 |
Debtors | 11 | 1,564,169 |  | 2,320,356 |
Cash at bank and in hand |  | 578,971 |  | 1,648,699 |
|  | 2,572,044 |  | 4,245,854 |
Creditors: Amounts Falling Due Within One Year | 12 | (2,285,519 ) |  | (3,088,751 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 286,525 |  | 1,157,103
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 296,770 |  | 1,190,250
Creditors: Amounts Falling Due After More Than One Year | 13 |  | - |  | (775 )
NET ASSETS |  |  | 296,770 |  | 1,189,475
CAPITAL AND RESERVES
Called up share capital | 15 |  | 100 |  | 100
Share premium account |  |  | 59,238 |  | 59,238
Profit and Loss Account |  |  | 237,432 |  | 1,130,137
SHAREHOLDERS' FUNDS |  |  | 296,770 |  | 1,189,475

On behalf of the board

Mr M Schuetz Director
19 June 2026

The notes on pages 10 to 15 form part of these financial statements.
Page 8
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Adapa UK Edinburgh Limited
Statement of Changes in Equity
For The Year Ended 31 December 2025
Statement of Changes in Equity

| Share Capital | Share Premium | Profit and Loss Account | Total
--- | --- | --- | --- | ---
| £ | £ | £ | £
As at 1 January 2024 | 100 | 59,238 | 1,225,220 | 1,284,558
Loss for the year and total comprehensive income | - | - | (95,083 ) | (95,083)
As at 31 December 2024 and 1 January 2025 | 100 | 59,238 | 1,130,137 | 1,189,475
Loss for the year and total comprehensive income | - | - | (479,665 ) | (479,665)
Dividends paid | - | - | (413,040) | (413,040)
As at 31 December 2025 | 100 | 59,238 | 237,432 | 296,770

Page 9
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Adapa UK Edinburgh Limited
Notes to the Financial Statements
For The Year Ended 31 December 2025
Notes to the Financial Statements
1. General Information
Adapa UK Edinburgh Limited is a private company, limited by shares, incorporated in Scotland, registered number SC241535 . The registered office is C/O Anderson Strathern Llp, 58 Morrison Street, Edinburgh, EH3 8BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods have transferred to the buyer, usually on the despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold | Nil depreciation
Plant and machinery | 15% & 33% Reducing balance
Motor vehicles | 33% Reducing balance
Fixtures and fittings | 33% Reducing balance

2.4. Leasing and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving items.
Cost is determined using the first-in, first-out method at purchase price, including any directly attributable costs of acquisition.
At the end of each reporting period stock is assessed for impairment. As part of this assessment, a provision for obsolescence is applied on a systematic basis: stock held for between 180 and 360 days is provided against at 50% of cost, and stock held for over 360 days is written down to nil. If an item of stock is impaired, it is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required, the impairment charge is reversed, up to the original impairment loss, and recognised as a credit in the profit and loss account.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
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Adapa UK Edinburgh Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
2.7. Financial Instruments
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 entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Financial Reporting Standard 102 - Reduced Disclosure Exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Adapa GmbH Group, which can be obtained from www.unternehmensregister.de.
2.12. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
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Adapa UK Edinburgh Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
3. Turnover
Analysis of turnover by geographical market is as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
United Kingdom | 9,566,509 |  | 11,464,192
Rest of the world | 417,098 |  | 745,943
| 9,983,607 |  | 12,210,135

4. Auditor's Remuneration
Remuneration received by the company's auditors and their associates during the year was as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Audit Services
Audit of the company's financial statements | 16,560 |  | 15,600

5. Staff Costs
Staff costs, including directors' remuneration, were as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Wages and salaries | 953,413 |  | 1,156,513
Social security costs | 128,994 |  | 143,576
Other pension costs | 77,067 |  | 82,083
| 1,159,474 |  | 1,382,172

6. Average Number of Employees
Average number of employees, including directors, during the year was: 13 (2024: 12)
13 12
7. Interest Payable and Similar Charges

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Late payment tax charges | (203 ) |  | -

8. Tax on Profit
The tax credit on the loss for the year was as follows:

| Tax Rate | 2025 |  | 2024
--- | --- | --- | --- | ---
| 2025 | 2024 | £ |  | £
Current tax
UK Corporation Tax | 19.0% | 19.0% | - |  | -
Prior period adjustment | - |  | 389
| - |  | 389

...CONTINUED
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Adapa UK Edinburgh Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025

Deferred Tax
Deferred taxation | (112,514 ) |  | (22,213 )
Total tax charge for the period | (112,514 ) |  | (21,824 )

The actual credit for the year can be reconciled to the expected credit for the year based on the loss and the standard rate of corporation tax as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Profit before tax | (592,179) |  | (116,907)
Tax on profit at 19% (UK standard rate) | (112,514 ) |  | (22,212 )
Expenses not deductible for tax purposes | 1,031 |  | 4,034
Capital allowances | (625 ) |  | (1,014 )
Short term timing differences | (406 ) |  | (2,632 )
Total tax charge for the period | (112,514) |  | (21,824)

9. Tangible Assets

| Plant and machinery | Motor vehicles | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 January 2025 | 113,217 | 65,329 | 178,546
Disposals | (2,718 ) | (38,315 ) | (41,033 )
As at 31 December 2025 | 110,499 | 27,014 | 137,513
Depreciation
As at 1 January 2025 | 102,973 | 42,426 | 145,399
Provided during the period | 3,777 | 6,302 | 10,079
Disposals | (1,317 ) | (26,893 ) | (28,210 )
As at 31 December 2025 | 105,433 | 21,835 | 127,268
Net Book Value
As at 31 December 2025 | 5,066 | 5,179 | 10,245
As at 1 January 2025 | 10,244 | 22,903 | 33,147

10. Stocks

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Materials | 428,904 |  | 276,799

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Adapa UK Edinburgh Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
11. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 1,417,427 |  | 2,013,553
Other debtors | 146,742 |  | 306,803
| 1,564,169 |  | 2,320,356

12. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 775 |  | 4,652
Trade creditors | 919,681 |  | 1,414,314
Other creditors | 1,072,215 |  | 1,340,308
Taxation and social security | 176,497 |  | 207,605
Accruals and deferred income | 116,351 |  | 121,872
| 2,285,519 |  | 3,088,751

The company has a floating charge dated 23 October 2017 that is held over advances under discounting facility on all property or undertaking of the company.
The company also has three further floating charges dated 30 October 2017, 28 November 2017 and 29 May 2018 on all the property undertaking of the company.
13. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | - |  | 775

14. Obligations Under Finance Leases and Hire Purchase

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 775 |  | 4,652
Later than one year and not later than five years | - |  | 775
| 775 |  | 5,427
| 775 |  | 5,427

15. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
100 Ordinary Shares of £ 1 each | 100 |  | 100

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Adapa UK Edinburgh Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2025
16. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Not later than one year | - |  | 12,600
| - |  | 12,600

17. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £77,067 (2024: £82,083).
At the balance sheet date contributions of £8,435 (2024: £6,949) were due to the fund and are included in creditors.
18. Directors Advances, Credits and Guarantees
The directors received no advances, credits or guarantees during the current or previous accounting periods.
19. Reserves
Called-up share capital - This reserve records the nominal value of shares that have been issued.
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs.
Profit and loss account - This reserve records retained earnings and accumulated losses.
20. Related Party Disclosures
The company has taken advantage of exemption, under 33.1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose transactions with wholly owned subsidiaries within the group.
21. Controlling Parties
The director believes the controlling party to be Adapa Gmbh (Germany) . A company that owns 80% of the parent company Adapa France SAS, a company registered in France. Accounts for Adapa France SAS can be obtained from Institut National de la Propriete Industrielle at www.inpi.fr.
22. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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