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Registered number: SC048793
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FOR THE YEAR ENDED
31 DECEMBER 2025
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BRAID LOGISTICS (UK) LIMITED
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BRAID LOGISTICS (UK) LIMITED
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COMPANY INFORMATION
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A D Watson (resigned 9 April 2026)
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K A Lewandowska (resigned 1 July 2025)
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S E Watters (appointed 29 April 2026)
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Chartered Accountants & Statutory Auditor
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The Royal Bank of Scotland plc
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CMS Cameron McKenna Nabarro Olswang LLP
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BRAID LOGISTICS (UK) LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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BRAID LOGISTICS (UK) LIMITED
REGISTERED NUMBER:SC048793
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 2 to 8 form part of these financial statements.
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BRAID LOGISTICS (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
Braid Logistics (UK) Limited is a private company limited by shares and incorporated in Scotland. Its registered head office is located at 4 Kings Inch Way, Renfrew, Renfrewshire, PA4 8YU, Scotland.
2.Accounting policies
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Basis of preparation of financial statements
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It has been decided by the directors that the company will no longer be required after the year end. The Directors plan to merge group entities in 2026 and as a result Braid Logistics (UK) Limited will be made dormant after the year end.
The directors have concluded that the going concern basis of accounting is not appropriate, as the Company is expected to enter liquidation following a wider Group restructuring.
Accordingly, the financial statements have been prepared on a break-up basis. Under this basis, assets are recognised at their estimated realisable values, and liabilities are measured at the expected settlement amounts reflecting the Company’s specific circumstances at the year end.
The financial statements have been prepared under the break-up basis in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
It has been decided by the directors that the company will no longer be required after the year end. The Directors plan to merge group entities in 2026 and as a result Braid Logistics (UK) Limited will be made dormant after the year end.
The directors have concluded that the going concern basis of accounting is not appropriate, as the Company is expected to enter liquidation following a wider Group restructuring.
Accordingly, the financial statements have been prepared on a break-up basis. Under this basis, assets at their estimated realisable values, and liabilities are measured at the expected settlement amounts reflecting the Company’s specific circumstances at the year end.
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BRAID LOGISTICS (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Turnover and attributable costs relating to individual ISO tank orders are recognised when:-
• the order has been raised
• final instructions have been received; and
• the ISO tank has been gated-out
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Interest income is recognised in profit or loss using the effective interest method.
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BRAID LOGISTICS (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Current and deferred taxation
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i) Current tax
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Current tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the year end.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
ii) Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that resulted in an obligation to pay more tax in the future or right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax liabilities are recognised for all timing differences. Deferred tax assets are only 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.
Deferred tax is measured at the tax rates that are expected to apply in the years in which the timing differences are expected to reverse based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.
The company has entered into an agreement regarding UK corporation tax payments and refunds with Exel Limited, a fellow group undertaking. Under the terms of this agreement Exel Limited has undertaken to discharge the current and future UK corporation tax liabilities on behalf of and benefit from any tax recoverable due to, the company.
The indemnity provided by Exel Limited is accounted for as a capital contribution within reserves.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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BRAID LOGISTICS (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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New ISO tanks (included in Plant & Machinery)
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Straight line based on useful life of 20 years (residual value £2,000)
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Straight line based on useful life of 10 years (residual value of £2,000)
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
There are no direct employees of the company. The average number of directors during the year was 3 (2024 - 3).
Employment costs relate to staffing recharged from other group entities.
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BRAID LOGISTICS (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charge for the year on owned assets
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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BRAID LOGISTICS (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
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Charged to the profit or loss
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The deferred taxation balance is made up as follows:
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Accelerated capital allowances
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The company had an unrecognised deferred tax asset of £27,298 at 31 December 2025 (2024: a recognised net deferred tax liability of £1,322,073).
The deferred tax asset has not been recognised due to uncertainty over the availability of future taxable profits.
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Released to the profit or loss
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The company's immediate parent undertaking is Braid Group (Holdings) Limited, a company incorporated in Scotland.
The ultimate parent undertaking of the company is Deutsche Post AG, a company incorporated in Germany. The registered address of Deutsche Post AG is Charles-de-Gaulle-Str. 20, 53113 Bonn, Germany.
The largest and smallest company which prepares group accounts in the Group is Deutsche Post AG.
Consolidated group accounts are publicly available from:
www.deutschepost.de
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BRAID LOGISTICS (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The ultimate controlling party is Deutsche Post AG.
The auditor's report on the financial statements for the year ended 31 December 2025 was unqualified.
The audit report was signed on 21 August 2026 by Andrew Galliers FCA (Senior Statutory Auditor) on behalf of Menzies LLP.
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