REGISTERED NUMBER: 04164624 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the year ended

31 December 2025

for

Barsan Global Logistics Limited

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

7

Balance Sheet

8

Statement of Changes in Equity

9

Cash Flow Statement

10

Notes to the Cash Flow Statement

11

Notes to the Financial Statements

12

DIRECTORS:

H Kolemenoglu

O Hesapci

SECRETARY:

S Saglik

REGISTERED OFFICE:

Unit H6 Pilgrims Walk

Prologis Park

Coventry

CV6 4QG

REGISTERED NUMBER:

04164624 (England and Wales)

AUDITORS:

Just Audit Limited

Chartered Accountants and Statutory Auditors

Strelley Hall

Main Street

Strelley

Nottingham

NG8 6PE

ACCOUNTANTS:

LakhaniCo

Chartered Accountants

25 Station Road

Desford

Leicestershire

LE9 9FN

The directors present their strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The principal activities of the Company in the year under review consisted of logistics management and warehousing. In addition, the Company provided dedicated container management and production line management to a third-party client.

The Directors are pleased with the continued progress being made by the Company. Turnover has increased 12% to £18.0m (2024 £16.1m). Gross profit increased to £3.3m (2024 £3.1m). However, due to an increase in costs, gross profit as a percentage has reduced marginally (from 19.5% to 18.6%). Gross profit would have further reduced had the Directors not reduced Inland (UK) haulage as one of the activities. Overall administrative expenses have increased marginally, but the Company has still managed to achieve an increase of £197k in Operating profit.

EBITDA for the year was £582k (2024 £385k).

The Company's net worth increased to £7,201k (2024 £6,756k).

The increase in turnover is welcomed by the Directors. This has been achieved by the continual diversifying of operations throughout the Company. The two satellite operations in Liverpool and Felixstowe are gradually increasing their turnover and are both modestly profitable. Turnover is likely to continue to increase. The storage facilities offered by the Company also contributed to the increase and this is an area that the Company is particularly keen to expand on. However, the pressure on gross margins continues with higher costs. Fuel costs are a significant cost of the business and, at present, unpredictable.

PRINCIPAL RISKS AND UNCERTAINTIES

The Directors consider the key risks to the business through a framework of policies, procedures, and internal controls. All policies are subject to Board approval and ongoing review by management. Compliance with regulations and legal and ethical standards is a high priority for the Company. External professionals are engaged to advise on Health and Safety and Human Resource issues. The Company invests in training its employees to ensure a safe working environment. The Finance Department takes an important oversight role to ensure that proper internal controls exist to manage financial risk and that the controls operate effectively.

The principal risk remains the same as in previous years which is to ensure that the significant increase in transportation and human resource costs is managed and that these are reflected in sales revenues. In addition, the Directors are keen to ensure that additional geographical locations within the UK are targeted.

The Company also provides added value services where possible to its customer base through fast response times, high quality and maintaining strong customer relationships.

Interest Rate Risk

The Company finances its operations through a mixture of retained profit and Group support. The Directors regularly review this aspect. Interest rate rises are not viewed as a significant threat.

Liquidity Risk

The Company seeks to manage liquidity risk by ensuring sufficient liquidity is available to meet foreseeable needs. Through excellent cash management this is well managed.

Human Resources Risk

The Company's employees are its most valuable resource. Remuneration packages are constantly reviewed to ensure that the Company maintains a motivated workforce. For this year human resource costs have increased significantly. The Company continues to invest in training its workforce.

FINANCIAL KEY PERFORMANCE INDICATORS

Given the nature of the business, the Directors have determined certain key performance indicators to help them to both understand and manage the growing customer base. These are monitored closely on at least a monthly basis and the Company will continue to monitor those measures that are key to ensuring that the Company remains profitable. The KPIs are regularly circulated to the key management team to ensure full visibility by those helping to drive the business forward.

Turnover and gross profit are seen as key performance indicators, as margins for the business need to be healthy due to significant staff costs and other overheads. EBITDA is also seen as a key performance indicator. These have been disclosed above.

The Directors ensure wherever possible that the business objectives are aligned with risk management. The Directors are responsible for maintaining sound systems of internal control that provide reasonable assurance that the Company will not be hindered in achieving its business objectives by circumstances that are not foreseen.

No major risks have been identified other than those relating to the uncertainties and challenges set out above. In this respect, the Directors have built up a dedicated team of staff with whom they work closely on a regular basis to ensure these risks are mitigated effectively.

FUTURE DEVELOPMENTS

The Company continues to focus on delivering innovative and excellent value services to its customers, allowing them to differentiate themselves in an increasingly competitive landscape. Management remain wary of the economic climate and have reflected this within their forecasts. The Management are proactive and ensure that any sectors not performing are reviewed and assessed in line with expectations. The results for the current year to date show the business to be in line with its projections. The Directors are cautiously optimistic that their forecasts can be achieved.

ON BEHALF OF THE BOARD:

O Hesapci - Director

7 July 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

DIVIDENDS

No dividends have been distributed for the year ended 31 December 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

H Kolemenoglu

O Hesapci

DISCLOSURE IN THE STRATEGIC REPORT

The company has chosen, in accordance with Section 414C(11) of the Companies Act 2006 to include certain matters in its Strategic Report that would otherwise be required to be disclosed in this Report of the Directors.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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;

-	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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

O Hesapci - Director

7 July 2026

Opinion

We have audited the financial statements of Barsan Global Logistics Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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, 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 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.

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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page four, 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 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.

Auditors' 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 a Report of the Auditors 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:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 a Report of the Auditors 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.

David Fletcher BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Just Audit Limited

Chartered Accountants and Statutory Auditors

Strelley Hall

Main Street

Strelley

Nottingham

NG8 6PE

7 July 2026

TURNOVER

4

18,032,322

16,061,399

Cost of sales

14,683,069

12,931,543

GROSS PROFIT

3,349,253

3,129,856

Administrative expenses

2,773,191

2,750,578

OPERATING PROFIT

576,062

379,278

Interest receivable and similar income

6

19,197

21,871

595,259

401,149

Interest payable and similar expenses

7

-

(3,645

)

PROFIT BEFORE TAXATION

8

595,259

404,794

Tax on profit

9

150,319

102,934

PROFIT FOR THE FINANCIAL YEAR

444,940

301,860

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

444,940

301,860

FIXED ASSETS

Tangible assets

10

17,340

10,726

CURRENT ASSETS

Debtors

11

8,963,948

8,022,787

Cash at bank and in hand

111,520

146,550

9,075,468

8,169,337

CREDITORS

Amounts falling due within one year

12

1,887,513

1,421,343

NET CURRENT ASSETS

7,187,955

6,747,994

TOTAL ASSETS LESS CURRENT LIABILITIES

7,205,295

6,758,720

PROVISIONS FOR LIABILITIES

14

4,317

2,682

NET ASSETS

7,200,978

6,756,038

CAPITAL AND RESERVES

Called up share capital

15

2,660,000

2,660,000

Retained earnings

16

4,540,978

4,096,038

SHAREHOLDERS' FUNDS

7,200,978

6,756,038

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2026 and were signed on its behalf by:

O Hesapci - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

2,660,000

3,794,178

6,454,178

Changes in equity

Total comprehensive income

-

301,860

301,860

Balance at 31 December 2024

2,660,000

4,096,038

6,756,038

Changes in equity

Total comprehensive income

-

444,940

444,940

Balance at 31 December 2025

2,660,000

4,540,978

7,200,978

Cash flows from operating activities

Cash generated from operations

1

61,145

(33,643

)

Interest element of hire purchase or finance lease rental payments paid

-

3,645

Tax paid

(103,000

)

(95,655

)

Net cash from operating activities

(41,855

)

(125,653

)

Cash flows from investing activities

Purchase of tangible fixed assets

(12,372

)

(6,894

)

Interest received

19,197

21,871

Net cash from investing activities

6,825

14,977

Cash flows from financing activities

Capital repayments in year

-

(11,816

)

Net cash from financing activities

-

(11,816

)

Decrease in cash and cash equivalents

(35,030

)

(122,492

)

Cash and cash equivalents at beginning of year

2

146,550

269,042

Cash and cash equivalents at end of year

2

111,520

146,550

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2025

2024

£

£

Profit before taxation

595,259

404,794

Depreciation charges

5,759

5,571

Finance costs

-

(3,645

)

Finance income

(19,197

)

(21,871

)

581,821

384,849

Increase in trade and other debtors

(941,162

)

(700,178

)

Increase in trade and other creditors

420,486

281,686

Cash generated from operations

61,145

(33,643

)

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2025

31/12/25

1/1/25

£

£

Cash and cash equivalents

111,520

146,550

Year ended 31 December 2024

31/12/24

1/1/24

£

£

Cash and cash equivalents

146,550

269,042

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/25

Cash flow

At 31/12/25

£

£

£

Net cash

Cash at bank and in hand

146,550

(35,030

)

111,520

146,550

(35,030

)

111,520

Total

146,550

(35,030

)

111,520

1.	STATUTORY INFORMATION

Barsan Global Logistics Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04164624 and its registered office address is Unit H6 Pilgrims Walk, Prologis Park, Coventry, West Midlands, CV6 4QG.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The accounts have been prepared on the going concern basis due to the fact that the company has the continued support of the group which has adequate resources to continue in operational existence for the foreseeable future. The directors have been given assurance that this support will continue for the foreseeable future.

Turnover

Turnover represents the value of services provided to customers during the year, exclusive of VAT.

Revenue receivable in respect of storage income is recognised in the period to which the storage relates.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Tangible fixed assets are initially measured at cost at the date of purchase.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter. The interest element of these obligations is charged to the Statement of Comprehensive Income over the relevant period. The capital element of the future payments is treated as a liability.

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.

Supply chain financing

The company has a supply chain financing agreement with one of its customers. The payments made against the trade debts through this agreement are not subject to recourse from the bank concerned and so the corresponding trade debtor is fully derecognised upon payment by the bank. The amounts due in respect of any unpaid amounts are included within trade debtors at the relevant discounted amount and the discount element debited to the statement of comprehensive income. The management and collection of other trade debtors remains with the company.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing material adjustment to the carrying amount of assets within the next financial year are discussed below:

Depreciation

The company estimates the residual value and useful economic life of fixed assets.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

2025

2024

£

£

Rendering of services

18,032,322

16,061,399

18,032,322

16,061,399

5.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

4,616,863

4,034,259

Social security costs

586,382

441,206

Other pension costs

75,707

70,754

5,278,952

4,546,219

The average number of employees during the year was as follows:

2025

2024

Directors

2

3

Administrative

10

6

Container and production line management

24

14

Logistics and warehouse personnel

71

79

107

102

2025

2024

£

£

Directors' remuneration

126,558

99,855

6.

INTEREST RECEIVABLE AND SIMILAR INCOME

2025

2024

£

£

Other interest

19,197

21,871

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Hire purchase interest

-

(3,645

)

8.	PROFIT BEFORE TAXATION

The profit is stated after charging:

2025

2024

£

£

Hire of plant and machinery

339,842

347,586

Other operating leases

517,324

507,458

Depreciation - owned assets

5,758

5,571

Auditors' remuneration

18,300

18,000

Foreign exchange differences

52,339

27,201

9.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

148,684

102,464

Deferred tax

1,635

470

Tax on profit

150,319

102,934

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

595,259

404,794

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

148,815

101,199

Effects of:

Expenses not deductible for tax purposes

1,713

1,610

Under/(Over) provision in current year

(209

)

125

Total tax charge

150,319

102,934

The company is within the scope of Pillar Two legislation, but does not expect any additional Pillar Two income tax to arise from that legislation.

10.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2025

539,556

Additions

12,372

At 31 December 2025

551,928

DEPRECIATION

At 1 January 2025

528,830

Charge for year

5,758

At 31 December 2025

534,588

NET BOOK VALUE

At 31 December 2025

17,340

At 31 December 2024

10,726

11.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

3,397,994

2,300,707

Amounts owed by group undertakings

4,900,058

4,944,031

Other debtors

231,482

-

VAT

-

21,110

Prepayments and accrued income

98,414

206,475

8,627,948

7,472,323

Amounts falling due after more than one year:

Other debtors

336,000

550,464

Aggregate amounts

8,963,948

8,022,787

12.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

985,078

774,124

Amounts owed to group undertakings

116,971

360,628

Tax

148,493

102,809

Social security and other taxes

132,458

105,251

VAT

54,615

-

Accruals and deferred income

449,898

78,531

1,887,513

1,421,343

13.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

588,198

818,914

Between one and five years

2,556,386

76,183

3,144,584

895,097

14.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

4,317

2,682

Deferred tax

£

Balance at 1 January 2025

2,682

Charge to Statement of Comprehensive Income during year

1,635

Balance at 31 December 2025

4,317

15.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2,660,000

Ordinary share capital

£1

2,660,000

2,660,000

16.

RESERVES

Retained

earnings

£

At 1 January 2025

4,096,038

Profit for the year

444,940

At 31 December 2025

4,540,978

17.	CONSOLIDATION

The parent company of the smallest group that draws up consolidated financial statements which include the results for Barsan Global Logistics Limited is Barsan Global Lojistik A.S. Copies of the consolidated financial statements can be obtained from its registered office address which is:

Hastane Mah. Org. Nurettin Baransel Cad

No 48 Hadimkoy

Arnavutkoy

Istanbul