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REGISTERED NUMBER: 08325452 (England and Wales)

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

BWSCD UK LIMITED

BWSCD UK LIMITED (REGISTERED NUMBER: 08325452)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Balance Sheet | 1 |

Notes to the Financial Statements | 2 |

BWSCD UK LIMITED (REGISTERED NUMBER: 08325452)

BALANCE SHEET

31 DECEMBER 2025

| 31.12.25 |  | 31.12.24

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 79,302 |  | 84,123 |  |

CURRENT ASSETS

Debtors | 5 | 588,654 |  | 1,119,859 |  |

Cash at bank | 161,984 |  | 594,663 |  |

750,638 |  | 1,714,522 |  |

CREDITORS

Amounts falling due within one year | 6 | (518,417 | ) | (614,273 | ) |

NET CURRENT ASSETS | 232,221 |  | 1,100,249 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 311,523 |  | 1,184,372 |  |

PROVISIONS FOR LIABILITIES | 8 | (7,938 | ) | (8,776 | ) |

NET ASSETS | 303,585 |  | 1,175,596 |  |

CAPITAL AND RESERVES

Called up share capital | 9 | 1 |  | 1 |  |

Profit and loss reserves | 303,584 |  | 1,175,595 |  |

SHAREHOLDERS' FUNDS | 303,585 |  | 1,175,596 |  |

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 14 May 2026 and were signed on its behalf by:

C Swanson - Director

BWSCD UK LIMITED (REGISTERED NUMBER: 08325452)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | COMPANY INFORMATION

| BWSCD UK Limited is a private company limited by shares incorporated in England and Wales. The company's registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.

2. | ACCOUNTING POLICIES

| Accounting convention

| These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

| The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

| Judgements and key sources of estimation uncertainty

| In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

| Turnover

| Turnover represents service fees receivable from a related party. The service fees are recognised on an accruals basis in line with the expenditure incurred in the provision of services to the related party. Fees receivable are recognised on an accruals basis as the relevant services are provided.

| Tangible fixed assets

| Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

| Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

| Leasehold improvements |  | Straight line over the life of the lease |  |

| Fixtures, fittings & equipment |  | Straight line over 3 years |  |

| Taxation

| The tax expense represents the sum of the tax currently payable and deferred tax.

| Current Tax

| The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

BWSCD UK LIMITED (REGISTERED NUMBER: 08325452)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

| Retirement benefits

| Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

| Leases

| Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 38 (2024 - 35 ) .

4. | TANGIBLE FIXED ASSETS

| Land and |  | Plant and |

| buildings |  | machinery |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 132,928 |  | 47,932 |  | 180,860 |  |

| Additions | - |  | 18,783 |  | 18,783 |  |

| At 31 December 2025 | 132,928 |  | 66,715 |  | 199,643 |  |

| DEPRECIATION

| At 1 January 2025 | 68,053 |  | 28,684 |  | 96,737 |  |

| Charge for year | 13,396 |  | 10,208 |  | 23,604 |  |

| At 31 December 2025 | 81,449 |  | 38,892 |  | 120,341 |  |

| NET BOOK VALUE

| At 31 December 2025 | 51,479 |  | 27,823 |  | 79,302 |  |

| At 31 December 2024 | 64,875 |  | 19,248 |  | 84,123 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Amounts owed by related parties | 114,787 |  | 920,674 |  |

| Other debtors | 473,867 |  | 199,185 |  |

588,654 |  | 1,119,859 |  |

BWSCD UK LIMITED (REGISTERED NUMBER: 08325452)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 139,768 |  | 262,516 |  |

| Taxation and social security | 116,690 |  | 161,651 |  |

| Other creditors | 261,959 |  | 190,106 |  |

518,417 |  | 614,273 |  |

7. | LEASING AGREEMENTS

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Within one year | 108,520 |  | 115,583 |  |

| Between one and five years | - |  | 108,520 |  |

108,520 |  | 224,103 |  |

8. | PROVISIONS FOR LIABILITIES

| 31.12.25 |  | 31.12.24

£ | £ |

| Deferred tax | 7,938 |  | 8,776 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 8,776 |  |

| Provided during year | (838 | ) |

| Balance at 31 December 2025 | 7,938 |  |

9. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: | £ | £ |

| 1 | Ordinary | £1 | 1 |  | 1 |  |

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

| The Auditor's Report was unqualified.

| Sarah Yardley FCA (Senior Statutory Auditor)

| for and on behalf of mgr Audit Limited

BWSCD UK LIMITED (REGISTERED NUMBER: 08325452)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

11. | RELATED PARTY TRANSACTIONS

| The company has taken advantage of the exemption available in accordance with FRS 102 Section 33 'Related party disclosures' not to disclose transactions entered into between two or more members of a group, as the company is a wholly owned subsidiary undertaking of the group to which they are party to the transactions.