REGISTERED NUMBER: 11694242 (England and Wales)

Aqipa United Kingdom Limited

Audited Financial Statements for the Year Ended 31 March 2026

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

K M Muckley

C Trapl

REGISTERED OFFICE:

Concept House

Home Park Road

Kings Langley

WD4 8UD

REGISTERED NUMBER:

11694242 (England and Wales)

SENIOR STATUTORY AUDITOR:

Emma Fraser FCA

AUDITORS:

Bracey's Accountants (Audit) Limited

Statutory Auditor, Chartered Accountants

Unit 1 The Cam Centre

Wilbury Way

Hitchin

Hertfordshire

SG4 0TW

FIXED ASSETS

Tangible assets

5

1,150

248

CURRENT ASSETS

Stocks

465,954

117,550

Debtors

6

1,873,770

1,123,176

Cash at bank

21,723

112,544

2,361,447

1,353,270

CREDITORS

Amounts falling due within one year

7

3,157,398

2,191,605

NET CURRENT LIABILITIES

(795,951

)

(838,335

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(794,801

)

(838,087

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(794,802

)

(838,088

)

SHAREHOLDERS' FUNDS

(794,801

)

(838,087

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 July 2026 and were signed on its behalf by:

C Trapl - Director

1.	GENERAL INFORMATION

Aqipa United Kingdom Limited 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.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared using the historical cost convention.

These financial statements are for the single entity, the company is a wholly owned subsidiary for which consolidated accounts are prepared by the parent company. Refer to note 13.

The financial statements are prepared in sterling, which is the functional currency of the entity. Amounts are rounded to the nearest £1.

Going concern

The company has net current liabilities of £795,951 (2025: £838,335) and negative retained earnings of £794,802 (2025: £838,088). The company sources its entire stock from the group which is headed up by Aqipa Holding GmbH, AT in turn the company is also reliant on the working capital support that it receives from the group.

The continued support of the group is key in determining the going concern of this company. Aqipa GmbH, AT have pledged its intention to provide funding support without restriction for a period of at least 12 months from the approval of these financial statements and that inter company balances will not be recalled until such time that the Company has the resources to pay these without impacting on its ability to settle its external debts as they fall due. It is on this basis that the Directors have prepared the accounts on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax and returns. Rebates and discounts are shown separate as a cost of sale.

The company recognises revenue when:

The amount of revenue can be reliably measured;

it is probable that future economic benefits will flow to the entity;

and specific criteria have been met for each of the company's activities.

Other income included within turnover, consists of two elements

- group income for resources used and expenses incurred

- sales commission

Other income is accounted for in the period to which the expense/resource and income relates and is deferred and accrued where necessary.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset Class

Depreciation method and rate

Computer equipment

33% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Stocks comprises finished goods held within the UK warehouse only.

Taxation and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss.

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

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.

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 classified separately within the accounts.

Foreign currencies

Transactions in currencies other that pounds sterling are recorded at the rate of exchange prevailing at the date 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 are included in the income statement for the period.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Trade debtors

Trade debtors are amounts due from customers for goods and services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. The provision is written off to the profit and loss account in the relevant period.

Trade debtors are subject to a invoice finance agreement with Bibby Commercial Finance Limited. See security note for further details.

Other debtors are held at cost and reviewed for impairment regularly. Any doubts of recovery are fully provided for in the profit and loss account in the relevant period.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2025 - 5 ) .

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2025

1,275

Additions

1,294

At 31 March 2026

2,569

DEPRECIATION

At 1 April 2025

1,027

Charge for year

392

At 31 March 2026

1,419

NET BOOK VALUE

At 31 March 2026

1,150

At 31 March 2025

248

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

169,667

169,516

Other debtors

325,990

94,016

Owed by group undertakings

1,378,113

859,644

1,873,770

1,123,176

A deferred tax asset exists of £195,996 largely arising from taxable losses carried forward of £785,135. The extent that this will be utilised in the next financial year is unknown and therefore no asset has been included within these financial statements.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

58,814

34,048

Social security and other taxes

10,964

11,479

VAT

149,583

108,403

Other creditors

5,726

4,519

Pension contributions unpaid

2,660

2,660

Owed to group undertakings

2,856,925

1,982,481

Accrued expenses

72,726

48,015

3,157,398

2,191,605

The invoice financing is subject to security provided by the company and the Directors. The details are disclosed in the secured debts note and related party note.

8.	SECURED DEBTS

There is a fixed and floating charge held over the assets of the company in favour of Bibby Financial Services Ltd, including a negative pledge, dated 20 March 2025, in respect of the invoice finance agreement in place.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

1

Ordinary shares

1

1

1

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

As the income statement and directors report 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 audit report prepared is in connection with the audit of the full annual accounts, including income statement and Directors' report which have not been filed.

The Auditors' Report was unqualified.

We draw attention to Note 3 within these financial statements (headed 'Going Concern'), which details the supply of goods and working capital support from the group required in relation to the assessment of going concern.

Our opinion is not modified in this respect.

Emma Fraser FCA (Senior Statutory Auditor) (signed 8th July 2026)

for and on behalf of Bracey's Accountants (Audit) Limited

11.	OTHER FINANCIAL COMMITMENTS

The company is subject to a minimum charge from its warehouse facilities. The monthly minimum charge is £1,500 per month and has a 90 day cancellation notice period.

12.	RELATED PARTY TRANSACTIONS

The company entered into transactions with group companies during the year. The transactions were undertaken with wholly owned subsidiaries in the group. Therefore, these transactions do not require separate disclosure under FRS102 section 1a.

There is no interest charged on balances that arise through normal trading conditions. Interest is charged on loan balances at Euribor 12 month rates. The amounts are subject to the continued support of the group as detailed in note 3.

Directors transactions

In respect of the invoice finance agreement with Bibby Financial Services Ltd The Director, C Trapl has provided a personal guarantee of £100,000 and K Muckley has provided a warranty.

13.	PARENT AND ULTIMATE PARENT UNDERTAKING

The company's immediate parent is Aqipa GmbH, AT, incorporated in Austria.

The ultimate parent company and controlling party is Aqipa Holding GmbH, AT incorporated in Austria. This is the smallest and largest group in which the results of the company are consolidated. The financial statements can be obtained from Aqipa Moslbischi 78, Kundl, Tirol, Austria 6250.