IRIS Accounts Production v26.1.10.61 04108006 Board of Directors 1.1.25 31.12.25 31.12.25 30.6.2026 false true false false false true false Auditors Opinion Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 04108006 2024-12-31 04108006 2025-12-31 04108006 2025-01-01 2025-12-31 04108006 2023-12-31 04108006 2024-01-01 2024-12-31 04108006 2024-12-31 04108006 ns15:EnglandWales 2025-01-01 2025-12-31 04108006 ns14:PoundSterling 2025-01-01 2025-12-31 04108006 ns10:Director1 2025-01-01 2025-12-31 04108006 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 04108006 ns10:SmallEntities 2025-01-01 2025-12-31 04108006 ns10:Audited 2025-01-01 2025-12-31 04108006 ns10:SmallCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 04108006 ns10:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 04108006 ns10:FullAccounts 2025-01-01 2025-12-31 04108006 1 2025-01-01 2025-12-31 04108006 ns10:OrdinaryShareClass1 2025-01-01 2025-12-31 04108006 ns10:Director2 2025-01-01 2025-12-31 04108006 ns10:RegisteredOffice 2025-01-01 2025-12-31 04108006 ns5:CurrentFinancialInstruments 2025-12-31 04108006 ns5:CurrentFinancialInstruments 2024-12-31 04108006 ns5:ShareCapital 2025-12-31 04108006 ns5:ShareCapital 2024-12-31 04108006 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 04108006 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 04108006 ns5:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 04108006 ns5:PatentsTrademarksLicencesConcessionsSimilar 2025-01-01 2025-12-31 04108006 ns5:LeaseholdImprovements 2025-01-01 2025-12-31 04108006 ns5:PlantMachinery 2025-01-01 2025-12-31 04108006 ns5:IntangibleAssetsOtherThanGoodwill 2024-12-31 04108006 ns5:IntangibleAssetsOtherThanGoodwill 2025-12-31 04108006 ns5:IntangibleAssetsOtherThanGoodwill 2024-12-31 04108006 ns5:LeaseholdImprovements 2024-12-31 04108006 ns5:PlantMachinery 2024-12-31 04108006 ns5:LeaseholdImprovements 2025-12-31 04108006 ns5:PlantMachinery 2025-12-31 04108006 ns5:LeaseholdImprovements 2024-12-31 04108006 ns5:PlantMachinery 2024-12-31 04108006 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 04108006 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 04108006 ns5:WithinOneYear 2025-12-31 04108006 ns5:WithinOneYear 2024-12-31 04108006 ns5:BetweenOneFiveYears 2025-12-31 04108006 ns5:BetweenOneFiveYears 2024-12-31 04108006 ns5:MoreThanFiveYears 2025-12-31 04108006 ns5:MoreThanFiveYears 2024-12-31 04108006 ns5:AllPeriods 2025-12-31 04108006 ns5:AllPeriods 2024-12-31 04108006 ns5:DeferredTaxation 2024-12-31 04108006 ns5:DeferredTaxation 2025-01-01 2025-12-31 04108006 ns5:DeferredTaxation 2025-12-31 04108006 ns10:OrdinaryShareClass1 2025-12-31 04108006 1 2025-01-01 2025-12-31

REGISTERED NUMBER: 04108006 (England and Wales)

| Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Pioneers UK Limited |

| T/A |

| Costa Coffee |

| Pioneers UK Limited (Registered number: 04108006) |

| T/A Costa Coffee |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| Pioneers UK Limited |

| T/A Costa Coffee |

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | G N Abuaita

| P G A Abuaita

| REGISTERED OFFICE: | Arden House

| 25 The Courtyard

| Gorsey Lane

| Coleshill

| West Midlands

| B46 1JA

| REGISTERED NUMBER: | 04108006 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Susanna D Ault FCA FCCA

| AUDITORS: | Tomkinson Teal (Lichfield) LLP

| Hanover Court

| 5 Queen Street

| Lichfield

| Staffordshire

| WS13 6QD

| Pioneers UK Limited (Registered number: 04108006) |

| T/A Costa Coffee |

Balance Sheet

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Intangible assets | 5 | 69,927 |  | 88,829 |  |

Tangible assets | 6 | 1,280,534 |  | 1,375,222 |  |

1,350,461 |  | 1,464,051 |  |

CURRENT ASSETS

Stocks | 87,339 |  | 73,767 |  |

Debtors | 7 | 2,247,870 |  | 2,538,982 |  |

Cash at bank and in hand | 614,291 |  | 347,316 |  |

2,949,500 |  | 2,960,065 |  |

CREDITORS

Amounts falling due within one year | 8 | (593,185 | ) | (1,122,165 | ) |

NET CURRENT ASSETS | 2,356,315 |  | 1,837,900 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,706,776 |  | 3,301,951 |  |

PROVISIONS FOR LIABILITIES | 11 | (207,108 | ) | (217,039 | ) |

NET ASSETS | 3,499,668 |  | 3,084,912 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 700,000 |  | 700,000 |  |

Retained earnings | 2,799,668 |  | 2,384,912 |  |

SHAREHOLDERS' FUNDS | 3,499,668 |  | 3,084,912 |  |

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2026 and were signed on its behalf by:

P G A Abuaita - Director

| Pioneers UK Limited (Registered number: 04108006) |

| T/A Costa Coffee |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Pioneers UK 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Franchise fees are being amortised evenly over their estimated useful life of ten years.

| Tangible fixed assets

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

| Improvements to property | - | 10% on cost

| Plant and machinery | - | 20% on cost and 10% on cost

| Stocks

| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

| Pioneers UK Limited (Registered number: 04108006) |

| T/A Costa Coffee |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

3. | ACCOUNTING POLICIES - continued

| 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 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 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 payments 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. Amounts 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 effective interest method.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Pension costs and other post-retirement benefits

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

| Going concern

| The Directors have considered going concern in preparing these financial statements through review of the Company's financial position. It has been considered that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis of accounting has been adopted and no material uncertainties have been identified.

| Pioneers UK Limited (Registered number: 04108006) |

| T/A Costa Coffee |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 204 (2024 - 237 ) .

5. | INTANGIBLE FIXED ASSETS

| Other

| intangible

| assets

£ |

| COST

| At 1 January 2025 | 238,520 |  |

| Additions | 5,000 |  |

| Disposals | (5,000 | ) |

| At 31 December 2025 | 238,520 |  |

| AMORTISATION

| At 1 January 2025 | 149,691 |  |

| Charge for year | 23,902 |  |

| Eliminated on disposal | (5,000 | ) |

| At 31 December 2025 | 168,593 |  |

| NET BOOK VALUE

| At 31 December 2025 | 69,927 |  |

| At 31 December 2024 | 88,829 |  |

6. | TANGIBLE FIXED ASSETS

| Improvements |

| to |  | Plant and |

| property |  | machinery |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 2,103,749 |  | 2,435,097 |  | 4,538,846 |  |

| Additions | - |  | 301,803 |  | 301,803 |  |

| Disposals | - |  | (34,403 | ) | (34,403 | ) |

| At 31 December 2025 | 2,103,749 |  | 2,702,497 |  | 4,806,246 |  |

| DEPRECIATION

| At 1 January 2025 | 1,729,682 |  | 1,433,942 |  | 3,163,624 |  |

| Charge for year | 80,467 |  | 309,885 |  | 390,352 |  |

| Eliminated on disposal | - |  | (28,264 | ) | (28,264 | ) |

| At 31 December 2025 | 1,810,149 |  | 1,715,563 |  | 3,525,712 |  |

| NET BOOK VALUE

| At 31 December 2025 | 293,600 |  | 986,934 |  | 1,280,534 |  |

| At 31 December 2024 | 374,067 |  | 1,001,155 |  | 1,375,222 |  |

| Pioneers UK Limited (Registered number: 04108006) |

| T/A Costa Coffee |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 10,352 |  | 12,371 |  |

| Amounts owed by group undertakings | 2,016,354 |  | 2,208,623 |  |

| Other debtors | 221,164 |  | 317,988 |  |

2,247,870 |  | 2,538,982 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 370,353 |  | 446,723 |  |

| Taxation and social security | 142,983 |  | 554,550 |  |

| Other creditors | 79,849 |  | 120,892 |  |

593,185 |  | 1,122,165 |  |

9. | OPERATING LEASE COMMITMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 460,727 |  | 547,799 |  |

| Between one and five years | 1,362,156 |  | 1,605,042 |  |

| In more than five years | 441,614 |  | 610,552 |  |

2,264,497 |  | 2,763,393 |  |

10. | FINANCIAL INSTRUMENTS

| The company has provided together with its parent company an unlimited multilateral guarantee to HSBC Bank plc.

| As of 31 December 2025, no provisions have been made for expected losses related to this guarantee, as the company does not anticipate any default.

11. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 207,108 |  | 217,039 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 217,039 |  |

| Credit to Profit and Loss Account during year | (9,931 | ) |

| Balance at 31 December 2025 | 207,108 |  |

| Pioneers UK Limited (Registered number: 04108006) |

| T/A Costa Coffee |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 700,000 | Ordinary | £1 | 700,000 |  | 700,000 |  |

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

| The Report of the Auditors was unqualified.

| Susanna D Ault FCA FCCA (Senior Statutory Auditor)

| for and on behalf of Tomkinson Teal (Lichfield) LLP

14. | PENSION COMMITMENTS

| As at 31 December 2025, there were outstanding pension contributions of £7,850 (2024: £13,608)

15. | RELATED PARTY DISCLOSURES

| P G A Abuaita - Director

| At 31 December 2025, a balance of £nil (2024: £1,273) was owed to the director. This was included in creditors due within one year.

16. | ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

| The company's immediate parent company is Gladius Holdings Ltd registered at the same address.

| The company's ultimate parent is Ivalyn Investments Limited incorporated in the British Virgin Islands.

| The consolidated financial statements in which Pioneers UK Ltd are published are those prepared by Gladius Holdings Ltd which are available from Companies House.