The directors present the strategic report for the year ended 31 March 2026.

Sales have decreased slightly year on year, by 2.4% (2025: decrease of 1.6%). Gross profit margins increased to 9% (2025: 5%). The average number of employees has reduced to 77 (2025: 87). The company made a loss of £893,086 for the period (2025: loss of £1,560,295).

The Directors remain optimistic that confidence is continuing to return across the Company's core markets following several challenging years. Continued investment in our state-of-the-art printing facility has reinforced the Bizerba’s position within the labelling sector and supports our long-term growth ambitions.

Bizerba UK growth strategy continues to evolve, with an increased focus on the development and rollout of innovative product solutions for both existing and emerging customers. Particular emphasis continues to be placed on compliance with relevant Codes of Practice for our industry customers to meet retailer and end user demands, especially within our Inspection Systems portfolio. This will add to opportunity across all 3 business units as pack, seal, and label integrity and readability has increased importance.

Bizerba UK is actively pursuing growth opportunities within the weigh price labelling market, capitalising on its unique position as a supplier of both labelling equipment and consumables. Our parent company, Bizerba SE & Co. KG, has continued to demonstrate its commitment to the UK market through ongoing financial investment. Building on this momentum, Bizerba Labels UK a fellow group undertaking, continues to expand its production of linerless labels, an initiative that commenced in 2023 and is expected to support further growth across both the fresh and ambient food sectors, strengthening the Group's integrated hardware and consumables offering.

Bizerba continues to manufacture weighing, labelling and food processing equipment in compliance with evolving UK and EU standards. As a global supplier, the Bizerba Group applies high international standards in product design and manufacturing, often exceeding regional requirements. This commitment ensures Bizerba UK remains well positioned to meet the diverse requirements of customers across its global markets and enables the delivery of a comprehensive hardware and consumables solution to food producers supplying the UK's leading grocery and supermarket chains.

During 2025, Bizerba UK implemented an internal restructuring of its business units and strengthened its senior leadership team through the appointment of a new Managing Director and Sales Director, together with several other changes in management and senior leadership. These organisational changes are intended to enhance operational effectiveness, improve customer focus and support the Company's strategic growth objectives in the coming years.

Most products sold by Bizerba UK are sourced from the Group and manufactured in Germany. Inter-company sales are priced in GBP, reducing the Company's direct exposure to foreign exchange fluctuations on these purchases.

The company's key financial and other performance indicators during the year were as follows:

On behalf of the board

The directors present their annual report and financial statements for the year ended 31 March 2026.

The principal activity of the company continued to be that of distribution and serving of weighing, labelling and food processing equipment and systems to the food manufacturing and retail industries.

The results for the year are set out on page 9.

No ordinary dividends were paid. The directors do not recommend payment of a final dividend.

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

The business would be somewhat exposed to large fluctuations in exchange rate, particularly Sterling vs Euro, but this is managed to some extent by our business conducting the majority of its sales in these currencies.

Intercompany transfer pricing is calculated at arm's length and is fixed for the period.

The business has some exposure to bad debt risk but the company's historic performance and management of the risk has been more than satisfactory. Credit is tightly controlled and the potential credit risk of our customers constantly monitored. This risk has reduced compared to prior years.

Liquidity risk is the risk that the company is unable to refinance its debt or not have the ability to finance increases in assets. The directors closely monitor cash flow and cash flow projections. The company has sufficient financial reserves. In addition, liquidity is also managed at a group level, to ensure there is always sufficient liquidity for all entities in the group to operate optimally.

Cash flow risk is managed through tight control of managing the business against a realistic budget. Cash flow forecasts are prepared and constantly monitored.

The directors aim to maintain the focus on customers and broaden the market segments with a range of innovative solutions to meet the specific demands of the food manufacturing, logistics and retail industries of the UK.

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

• select suitable accounting policies and then apply them consistently;

• make judgements and accounting estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

The company reported a loss before tax of £893k (2025: loss of £1,560k) for the year ended 31 March 2026. The company meets its day-to-day working capital requirements through cash generated from the business and ongoing financial support from the parent company, Bizerba SE & Co. KG. The company also has access to an overdraft facility from an external bank.

In March 2023, the company secured a £3,700k loan facility from its parent company to support the company's working capital requirements. In March 2026, the parent company injected an additional £1,600k into the company by way of a subscription of share capital. The consideration for this share issue was settled by way of offset against the outstanding trading balance between the company and the parent company.

The loan facility and share capital injection, in addition to those outlined above held at the balance sheet date, provides the company with liquidity and have been considered in the directors' assessment of the appropriateness of the going concern basis of preparation. The directors believe it remains appropriate to prepare the financial statements on a going concern basis. This is based on the assumption that the parent company continues to support the company, and that reasonable improvement in market conditions and product demand will continue. In the event that the forecast revenue growth is not achieved, the company would require further funding from the parent company.

The directors have prepared cash flow forecasts which demonstrate that the company will have sufficient funds to meet its liabilities as they fall due for the 12 month period from the date of signing these financial statements. In forming their view on the going concern status of the company, the directors have reviewed these cash flow forecasts under a severe but plausible downside scenario. In this instance, whilst the directors consider it unlikely, the company would require additional committed financing within twelve months of signing of the financial statements.

As such, the company is dependent on continued financial support from the parent company. The company has received a letter from the parent company expressing its intention to continue to support the company. Due to this ongoing group support, and the recent capital injection confirming the parent company's intention and ability to continue to service the UK market, the directors the directors continue to adopt the going concern basis in preparing the financial statements.

We have audited the financial statements of Bizerba (U.K.) Limited (the 'company') for the year ended 31 March 2026 which comprise the profit and loss account, the balance sheet, the statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 March 2026 and of its loss for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of directors' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations. The laws and regulations applicable to the company were identified through discussions with directors and other management, and from our commercial knowledge and experience.

Of these laws and regulations, we focused on those that we considered may have a direct material effect on the financial statements or the operations of the company, including Companies Act 2006, taxation legislation and employment law. The extent of compliance with these laws and regulations identified above was assessed through making enquiries of management and inspecting legal correspondence. The identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: 

• making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; 

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and 

• understanding the design of the company’s remuneration policies. 

To address the risk of fraud through management bias and override of controls, we: 

• performed analytical procedures to identify any unusual or unexpected relationships; 

• tested journal entries to identify unusual transactions; 

• assessed whether judgements and assumptions made in determining the accounting estimates set out in note 2 were indicative of potential bias; and 

• investigated the rationale behind significant or unusual transactions. 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: 

• agreeing financial statement disclosures to underlying supporting documentation; 

• reviewing communications with with the parent company or legal team; 

• enquiring of management as to actual and potential litigation and claims; and 

• reviewing correspondence with HMRC, relevant regulators and the company’s legal advisors. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

Bizerba (U.K.) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bizerba House, Precedent Drive, Rooksley, Milton Keynes, Buckinghamshire, MK13 8PE.

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.

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. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements: .

• Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;

• Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instrument Issues': Interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches; and

• Section 33 'Related Party Disclosures': Compensation for key management personnel.

Bizerba (U.K.) Limited is a wholly owned subsidiary of Bizerba SE & Co. KG and the results of Bizerba (U.K.) Limited are included in the consolidated financial statements of Bizerba SE & Co. KG which are available from the common register portal of the German federal states (www.handelsregister.de) or their registered office, Wilhelm-Kraut-Strasse 65, 72336, Balingen, Germany.

These financial statements are prepared on the going concern basis. The directortrues have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

The company repoted a loss before tax of £893k (2025: loss of £1,560k) for the year ended 31 March 2026. The company meets its day-to-day working capital requirements through cash generated from the business and ongoing financial support from the parent company, Bizerba SE & Co. KG. The company also has access to an overdraft facility from an external bank.

In March 2023, the company secured a £3,700k loan facility from its parent company to support the company's working capital requirements. In March 2026, the parent company injected an additional £1,600k into the company by way of a subscription of share capital. The consideration for this share issue was settled by way of offset against the outstanding trading balance between the company and the parent company.

The loan facility and share capital injection, in addition to those outlined above held at the balance sheet date, provides the company with liquidity and have been considered in the directors' assessment of the appropriateness of the going concern basis of preparation. The directors believe it remains appropriate to prepare the financial statements on a going concern basis. This is based on the assumption that the parent company continues to support the company, and that reasonable improvement in market conditions and product demand will continue. In the event that the forecast revenue growth is not achieved, the company would require further funding from the parent company.

The directors have prepared cash flow forecasts which demonstrate that the company will have sufficient funds to meet its liabilities as they fall due for the 12 month period from the date of signing these financial statements. In forming their view on the going concern status of the company, the directors have reviewed these cash flow forecasts under a severe but plausible downside scenario. In this instance, whilst the directors consider it unlikely, the company would require additional committed financing within twelve months of signing of the financial statements.

As such, the company is dependent on continued financial support from the parent company. The company has received a letter from the parent company expressing its intention to continue to support the company. Due to this ongoing group support, and the recent capital injection confirming the parent company's intention and ability to continue to service the UK market, the directors the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from services is recognised at the date the service is provided, or if an agreement is in place, over the term of the agreement.

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:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Where multiple units of a given stockline are held, the stock is recorded on an average cost basis.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

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

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

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.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

In formulating provisions for the estimated recoverable amount of stock held, management makes judgements that are based on the ageing of inventory assets held, historic sales data and assessment of the condition and demand for products.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

The Company maintains a premises in Milton Keynes which serves as the company's Head Office. Under the terms of the lease, the company has certain obligations regarding the reinstatement of the property at the end of the lease term and, as a result, the company has recorded a provision to reflect this obligation. In forming a provision, the Directors have had regard to the expected timing of termination of the lease, the appropriate discount rate to apply to the provision, the expected inflation rate ove that period and the expected cost of the underlying reinstatement works. In forming an estimation of the future costs, the company has obtained estimates from a specialist external firm of surveyors. The Directors are therefore satisfied that the estimate has been formed on a reasonable and appropriate basis.

The average monthly number of persons (including directors) employed by the company during the year was:

Their aggregate remuneration comprised:

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2025 - 1).

The actual charge for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

The tax reconciliation for the year ended 31 March 2025 has been restated as a result of the effects of the restatement described in Note 21.

The company has estimated tax losses of £6.2m (2025: £5.6m) available for set off against future taxable profits. No deferred tax asset has be recognised in view of the uncertainty of timing of such profits.

An impairment loss of £99,633 (2025: reversal of £7,543) was recognised in cost of sales against stock during the year due to slow-moving inventory. There are no stocks pledged as security for liabilities.

Amounts due from group undertakings disclosed above are trading balances denominated in GBP and are unsecured, interest free and repayable on demand.

Amounts owed to group undertakings disclosed above include loans as disclosed in Note 14 below. The remainder of the balance is denominated in GBP, is unsecured, interest free and payable on demand.

Legal charges and secutities

The company has granted a floating charge over its assets as security for the worldwide group's banking facility. This charge provides the lender with a security interest over the company's assets, which remain in place until the facility is repaid in full. The floating charge does not restrict the company's ability to use or dispose of its assets in the ordinary course of business.

At 31 March 2026, a balance of £1,600,000 (2025: £2,400,000) remained on an intercompany loan facility with a parent company.

The loan is denominated in GBP, is unsecured and accrues interest at a rate of 5.04% per annum.

The company has an obligation under its principle lease to reinstate the premises to its original condition at the end of the lease. The provision is expected to be settled in 2036.

The prior period provision has been restated as set out in Note 21.

The company operates a defined contribution pension scheme for all qualigying employees. The assets of the scheme are help separently from those of the company in an independently administered fund.

Contributions totaling £33,275 (2025: £30,370) were payable to the scheme at the end of the year are included in creditors.

On 31 March 2026, the company alloted 2,000,000 Ordinary shares of nominal value of 80p each. The consideration received by the company for the allotment was £1,600,000. This was settled by way of a reduction against the outstanding trading balance owed to the parent company.

On 28 March 2025, the company allotted 1,500,000 Ordinary shares of nominal value of 80p each. The consideration received by the company for the allotment was £1,200,000. This was settled by way of a reduction against the outstanding trading balance owed to the parent company.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

The company has taken advantage of the exemption to disclose related party transactions with companies that are wholly owned within the group. Related party balances outstanding at the year ended are disclosed in the respective notes.

Details of director remuneration are given in Note 7.

Details of the company's intercompany loan arrangements are given in Note 14.

The immediate parent undertaking is Bizerba Kapitalverwaltung GmbH, Incorporated in Germany.

The ultimate parent undertaking is Bizerba SE & Co. KG, incorporated in Germany.

The largest and smallest group to consolidate these financial statements is Bizerba SE & Co. KG. Copies of the consolidated financial statements can be obtained from Handelsregister, Germany or their registered office, Wilhelm-Kraut-Strasse 65, 72336, Balingen, Germany.

The ultimate controlling party is Andreas Kraut, a director of the company, by virtue of his shareholding in Bizerba SE & Co. KG, incorporated in Germany.

The comparative results have been restated to reflect the expected future costs of reinstating the company's premises at the end of the lease. The effects of the restatement on the profit and loss account and balance sheet are as follows.