Sofico Services UK Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Sofico Services UK Limited

Balance Sheet

31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible fixed assets	4	358,442	68,727
Current assets
Debtors	5	1,298,062	401,365
Cash at bank and in hand		213,157	569,735
		1,511,219	971,100
Creditors: Amounts falling due within one year	6	(1,156,158)	(571,887)
Net current assets		355,061	399,213
Total assets less current liabilities		713,503	467,940
Provisions for liabilities		(51,691)	(12,629)
Net assets		661,812	455,311
Capital and reserves
Called up share capital	7	1	1
Profit and loss account		661,811	455,310
Shareholders' funds		661,812	455,311

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 11 June 2026
 

......................................... Mr W De Bruyne Director

Company Registration Number: 11043739

Sofico Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is:
Units 40-48 Malvern Hills Science Park
Geraldine Road
Malvern
WR14 3SZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

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

Going concern

The operations and the ability of the company to continue as a going concern is linked to the wider groups ability to continue as a going concern. The directors consider the Group's forecasts and projections, taking into account expected levels of its current financing arrangements for the foreseeable future, being no less than 12 months from the date of approval of these financial statements.

In making their going concern assessment the directors have taken into consideration: the relationships with key customers and key suppliers, the balance sheet position and the financial performance and position of the Group. The Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, and they therefore continue to adopt the going concern basis of accounting in preparing the annual financial statements.

The Director of Sofico NV (the parent company) has demonstrated his continued support for the period of at least 12 months from the date of approval of these financial statements.

Sofico Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2025

Revenue recognition

The majority of revenue has historically been the provision of services to fellow group companies. The company recognises turnover to match the direct costs incurred. Turnover is shown net of value added tax.

In addition, the company provides service externally. Turnover from these services comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company. The Company recognises turnover when the amount of income can be reliably measured; when it is probable that future economic benefits will flow to the entity; and when specific criteria have been met for each of the Company’s activities

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency (sterling) rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity (sterling) at the rates prevailing on the reporting period date.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation 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 company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Fixed assets

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

The cost of fixed 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
Fixtures and fittings	20% straight line
Office equipment	33% straight line

Leasehold improvements are depreciated over the shorter of useful economic life and term of the lease.

Sofico Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2025

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 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.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Intercompany debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

Sofico Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2025

Key accounting judgements and sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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.

Revenue with external customers is recognised over the life of each contract with revenues deferred or accrued based upon the timing of invoicing and the stage of contract completion. Deferred income at the end of the period is £21,619 (2024: £31,475). Accrued income at the end of the period is £273,772 (2024: £nil).

3	Staff numbers

The average number of persons employed by the company (excluding the director) during the year, was 45 (2024 - 34).

4	Tangible assets

	Leasehold Improvements £	Fixtures and fittings  £	Office equipment £	Total £
Cost or valuation
At 1 January 2025	-	88,054	56,877	144,931
Additions	253,682	56,602	15,562	325,846
At 31 December 2025	253,682	144,656	72,439	470,777
Depreciation
At 1 January 2025	-	44,745	31,459	76,204
Charge for the year	-	17,366	18,765	36,131
At 31 December 2025	-	62,111	50,224	112,335
Carrying amount
At 31 December 2025	253,682	82,545	22,215	358,442
At 31 December 2024	-	43,309	25,418	68,727

Sofico Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2025

5

Debtors

	2025 £	2024 £
Trade debtors	497,998	248,881
Amounts due from related parties	395,120	103,501
Prepayments	36,162	48,743
Other debtors	61,193	240
Accrued income	273,772	-
Income tax asset	33,817	-
	1,298,062	401,365

6

Creditors

	2025 £	2024 £
Due within one year
Trade creditors	94,113	83,364
Amounts owed to related parties	336,206	73,771
Taxation and social security	-	89,199
Accruals and deferred income	725,839	325,553
	1,156,158	571,887

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £733,354 (2024 - £438,610). These are operating leases where the total minimum future payments are not required to be included in the balance sheet under FRS 102.

Sofico Services UK Limited

Notes to the Financial Statements

Year Ended 31 December 2025

9	Audit report

The Independent Auditors' Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report was Michael Hall, who signed for and on behalf of PKF Francis Clark on 11 June 2026

10	Parent and ultimate parent undertaking

The company's immediate parent and smallest consolidation group is Sofico NV, incorporated in Belgium. The address of Sofico NV's registered office is:

Technologiepark-Zwijnaarde 84
9052 Gent
Belgium

 The ultimate parent and controlling party is Astorg Midcap S.C.S.p, incorporated in Luxembourg.