REGISTERED NUMBER: 01582753 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

NAP Brands Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R Balma

Mr J D R Field

Mr A S M Imbimbo

SECRETARY:

Mr N Moore

REGISTERED OFFICE:

Office 102 Monkswell House

Manse Lane

Knaresborough

HG5 8NQ

REGISTERED NUMBER:

01582753 (England and Wales)

AUDITORS:

SMH Group Audit

Statutory Auditors

5 Westbrook Court

Sharrow Vale Road

Sheffield

South Yorkshire

S11 8YZ

FIXED ASSETS

Intangible assets

4

19,475

22,294

Tangible assets

5

12,557

16,575

32,032

38,869

CURRENT ASSETS

Stocks

867,871

1,147,893

Debtors

6

185,758

200,328

Cash at bank

894,270

927,306

1,947,899

2,275,527

CREDITORS

Amounts falling due within one year

7

526,360

687,676

NET CURRENT ASSETS

1,421,539

1,587,851

TOTAL ASSETS LESS CURRENT LIABILITIES

1,453,571

1,626,720

CAPITAL AND RESERVES

Called up share capital

11,111

11,111

Share premium

8,889

8,889

Capital contribution reserves

3,688,058

4,083,627

Retained earnings

(2,254,487

)

(2,476,907

)

1,453,571

1,626,720

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 August 2026 and were signed on its behalf by:

Mr A S M Imbimbo - Director

1.	STATUTORY INFORMATION

NAP Brands 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have

transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured

reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred

or to be incurred in respect of the transactions can be measured reliably.

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.

Intangible assets are being amortised evenly over their estimated useful life of 3 - 10 years.

Tangible fixed assets

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

Tooling costs

-

33% on cost

Fixtures and fittings

-

30% on reducing balance

Computer equipment

-

30% on reducing balance

Stocks

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

Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks

to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

24,688

AMORTISATION

At 1 January 2025

2,394

Charge for year

2,819

At 31 December 2025

5,213

NET BOOK VALUE

At 31 December 2025

19,475

At 31 December 2024

22,294

5.	TANGIBLE FIXED ASSETS

Fixtures

Tooling

and

Computer

costs

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2025

and 31 December 2025

46,927

14,689

38,623

100,239

DEPRECIATION

At 1 January 2025

46,927

14,689

22,048

83,664

Charge for year

-

-

4,018

4,018

At 31 December 2025

46,927

14,689

26,066

87,682

NET BOOK VALUE

At 31 December 2025

-

-

12,557

12,557

At 31 December 2024

-

-

16,575

16,575

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

93,123

111,739

Amounts owed by group undertakings

30,108

76,149

Other debtors

62,527

12,440

185,758

200,328

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

115,774

406,234

Amounts owed to group undertakings

-

1,342

Taxation and social security

28,142

72,057

Other creditors

382,444

208,043

526,360

687,676

8.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

1,163

1,163

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

The Report of the Auditors was unqualified.

James Salim FCCA (Senior Statutory Auditor)

for and on behalf of SMH Group Audit

10.	PENSION COMMITMENTS

The company operates defined contribution pension schemes. The assets of these schemes are held

separately from those of the company in independently administered funds. At the balance sheet date,

unpaid contributions of £1,129 (2024: £840) were due to these funds and were included within other

creditors.

11.	CONTINGENT ASSETS AND LIABILITIES

There is an ongoing HMRC investigation into a cross-border group relief claim dating as far back as

2002. Following a disagreement in the ruling this resulted in a tribunal or court hearing with the Court of

Justice of the European Union ruling on the matter given this is a matter of EU law. Given it is not clear

if the disagreement will be brought to a ruling or whether any charges will be suffered at this stage, we

do not consider it appropriate at this stage to make a provision for this.

12.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary od Nu Air Asia Pacific Limited and has taken advantage of

the exemption conferred by FRS 102 Section 33 not to disclose transactions with its immediate parent

company, Nu Air Asia Pacific Limited.

13.	ULTIMATE CONTROLLING PARTY

The immediate parent company is Nu Air Asia Pacific Limited, a company incorporated in Hong Kong.

The ultimate parent company is CRAB Holding SpA, which is incorporated in Italy.

The smallest group in which the results of the company are consolidated is that headed by Nu Air Asia

Pacific Limited. The largest group in which the results of the company are consolidated is that headed

by CRAB Holding SpA.