ACCOUNTS - Final Accounts preparation

Registered number: SC299361

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2025

	BRAID GROUP (HOLDINGS) LIMITED


BRAID GROUP (HOLDINGS) LIMITED REGISTERED NUMBER:SC299361

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Investments	4		8,634,123		8,723,006
			8,634,123		8,723,006
Current assets
Debtors		9,329		-
Cash at bank and in hand		12,153,617		11,504,775
		12,162,946		11,504,775
Creditors: amounts falling due within one year	5	(213,528)		(248,755)
Net current assets			11,949,419		11,256,020
Total assets less current liabilities			20,583,542		19,979,026

Net assets			20,583,542		19,979,026

Capital and reserves
Called up share capital	1,206,572	1,206,572
Share premium account	415,360	415,360
Capital redemption reserve	2,844,000	2,844,000
Profit and loss account	16,117,610	15,513,094
	20,583,542	19,979,026

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:

K W Fry

Director

Date: 21 August 2026

The notes on pages 2 to 7 form part of these financial statements.

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BRAID GROUP (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Braid Group (Holdings) Limited is a private company limited by shares, incorporated in Scotland. Its registered office is located at 4 Kings Inch Way, Renfrew, PA4 8YU.

2.Accounting policies

2.1

Basis of preparation of financial statements

It has been decided by the directors that the holding company will no longer be required and made dormant after the year end. The Directors plan to merge group entities in 2026 and as a result Braid Group (Holdings) 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 following principal accounting policies have been applied:

2.2

Going concern

2.3

Foreign currency translation

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'.

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BRAID GROUP (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Taxation

(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.

2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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BRAID GROUP (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Provisions for liabilities

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.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in

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BRAID GROUP (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

Financial instruments (continued)

the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2025	8,723,006
	Disposals	(88,883)
	At 31 December 2025	8,634,123

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BRAID GROUP (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

5.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Amounts owed to group undertakings	157,100	146,508
Other creditors	54,301	83,628
Accruals and deferred income	2,127	18,619
	213,528	248,755

6.	Deferred taxation

		2025
		£

	At 1 January 2025	-
	Released to profit or loss	9,329
	At end of year	9,329

The deferred tax asset is made up as follows:
	2025 Recognised	2024 Unrecognised
	£	£

Decelerated capital allowances	9,329	10,528
UK deferred tax not recognised	-	(10,528)
	9,329	-

The company had a net deferred tax asset at 31 December 2025 of £9,329 (2024: £10,528 not recognised) which has been recognised in the financial statements.

Finance Act 2021 increased the main rate of corporation tax from 19% to 25% with effect from 1 April 2023. No subsequent rate changes have been enacted or substantively enacted.

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BRAID GROUP (HOLDINGS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	Parent undertaking

The company's immediate parent undertaking is Hillebrand Gori Group GMBH, a company incorporated in Germany.

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.

The company has not prepared group accounts as it is exempt from the requirement to do so by section 401 of the Companies Act 2006 as it is a subsidiary undertaking of Deutsche Post AG, a company incorporated in Germany, and is included in the consolidated accounts of the company.

Consolidated group accounts are publicly available from: www.deutschepost.de

8.	Controlling party

The ultimate controlling party is Deutsche Post AG

9.	Auditor's information

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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