REGISTERED NUMBER: 10005283 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Olympus Dairy UK LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N Stavropoulos

REGISTERED OFFICE:

Haines Watts Wolverhampton Limited

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

REGISTERED NUMBER:

10005283 (England and Wales)

AUDITORS:

Haines Watts Wolverhampton Limited

Statutory Auditors

Keepers Lane

The Wergs

Wolverhampton

West Midlands

WV6 8UA

CURRENT ASSETS

Stocks

5

1,343,073

988,488

Debtors

6

2,532,806

2,604,188

Cash at bank

776,831

222,341

4,652,710

3,815,017

CREDITORS

Amounts falling due within one year

7

4,332,928

2,671,540

NET CURRENT ASSETS

319,782

1,143,477

TOTAL ASSETS LESS CURRENT LIABILITIES

319,782

1,143,477

CAPITAL AND RESERVES

Called up share capital

9

20,000

20,000

Retained earnings

299,782

1,123,477

SHAREHOLDERS' FUNDS

319,782

1,143,477

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 July 2026 and were signed by:

N Stavropoulos - Director

1.	STATUTORY INFORMATION

Olympus Dairy UK LTD is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard (FRS) 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Going concern

At the time of approving the financial statements, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

-

the company has transferred the significant risks and rewards of ownership to the buyer;

-

the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

-

the amount of turnover can be measured reliably;

-

it is probable that the company will receive the consideration due under the transaction; and

-

the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Computer equipment

-

33% on cost

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 the profit and loss account.

Stocks

Stocks are stated at lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on weighted average cost.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors and trade and other creditors.

All basic financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured at the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation

Tax is recognised in the profit and loss account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

-

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Functional and presentation currency

The company's functional and presentational currency is GBP.

Foreign currency transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'interest receivable or payable'. All other foreign exchange gains and losses are presented in the profit and loss account within 'administrative expenses'.

Pensions

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the lease term.

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2025

and 31 December 2025

1,871

DEPRECIATION

At 1 January 2025

and 31 December 2025

1,871

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

-

5.

STOCKS

2025

2024

£

£

Goods in transit

108,005

123,928

Stocks

1,235,068

864,560

1,343,073

988,488

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

2,221,651

2,295,401

Other debtors

6,792

48,326

VAT

41,539

-

Tax

262,824

260,461

2,532,806

2,604,188

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,289,665

2,644,118

Tax

10,824

-

Social security and other taxes

6,171

5,867

Other creditors

9,152

-

Accruals and deferred income

17,116

21,555

4,332,928

2,671,540

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

11,100

10,502

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

20,000

(2024:20,000) Called up share

capital shares of £1 each

1

20,000

20,000

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Baker FCA (Senior Statutory Auditor)

for and on behalf of Haines Watts Wolverhampton Limited

11.	RELATED PARTY DISCLOSURES

During the year, purchases were made from the parent company, Hellenic Dairies S.A totalling

£14,004,946 (2024: £14,167,876) under normal market conditions. At the period end there was

£3,264,773 (2024: £2,376,092) due to the parent company included within trade creditors.

During the year, purchases were made from a fellow subsidiary, Fabrica de Lapte Brasov S.A totalling

£1,658,585 (2024: £1,772,173) under normal market conditions. At the period end there was £320,689(2024: £150,771) due to this company included within trade creditors.

During the year, purchases were made from a fellow subsidiary, N. Th. Kouroushis Limited totalling

£nil (2024: £1,127,243) and sales totalling £nil (2024: £4,969) under normal market conditions. At

the period end there was £nil (2024: £nil) due to this company included within trade creditors. At the

period end there was £nil (2024: £nil) due from this company included within trade debtors.

During the year, purchases were made from a fellow subsidiary, Olympus Foods Cyprus Limited totalling

£3,331,124 (2024: £717,913) under normal market conditions. At the period end there was £691,016 (2024: £91,551) due to this company included within trade creditors.

12.	CONTROLLING PARTY

The company's immediate parent undertaking is Hellenic Dairies S.A. The ultimate controlling party

Hellenic Dairies S.A. by virtue of owning all of the ordinary shares, is the Sarantis family.

Registered Office and principal place of business of Hellenic Dairies S.A.:

5th Km National Road

Trikala-pili

Trikala

Greece

42100

13.	AUDITOR INFORMATION

As the profit and loss account has been omitted from the filing copy of the financial statements the

following information in relation to the audit report on the statutory financial statements is provided

in accordance with S444 (5B) of the Companies Act 2006.

The auditor's report was unqualified.

The auditor was Haines Watts Wolverhampton Limited.

Matthew Baker signed the auditor's report as senior statutory auditor.