ACCOUNTS - Final Accounts

Operating profit

The operating profit is stated after charging:

Registered number: 02103631

URBAN LOGISTICS (UK) LIMITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

URBAN LOGISTICS (UK) LIMITED

COMPANY INFORMATION

Director	Mr F Becker


Company secretary	Mr J A Wrigley


Registered number	02103631


Registered office	C/O Linde Material Handling (UK) Limited
	Kingsclere Road
	Basingstoke
	Hampshire
	RG21 6XJ


Independent auditors	Shaw Gibbs (Audit) Limited
	Statutory Auditors
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT


Bankers	J P Morgan
	1 Knightsbridge
	London
	SW1X 7LX

URBAN LOGISTICS (UK) LIMITED

CONTENTS

	Page
Director's report	2 - 3
Independent auditors' report	4 - 7
Statement of income and retained earnings	8
Statement of financial position	9
Notes to the financial statements	10 - 21

URBAN LOGISTICS (UK) LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The director presents his report and the financial statements for the year ended 31 December 2025.

Director's responsibilities statement

The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is 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 director is required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

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

The director is 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 to enable him to ensure that the financial statements comply with the Companies Act 2006. He is 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.

Principal activity

The principal activity of the company in the year under review was that of freight forwarders and haulage.
During the year the directors made the decision to reclassify all the amounts related companies trade debtors to “amounts owed by entities under common control”. This has been reclassified for both 2025 and 2024. There was no effect on the profit in either year, the only change is restatement of the debtors note, note 10.

Results and dividends

The profit for the year, after taxation, amounted to £486,453 (2024 - £396,629).

No dividends were declared during the year (2024 - nil).

Director

The director who served during the year was:

Mr F Becker

Page 2

URBAN LOGISTICS (UK) LIMITED

DIRECTOR'S REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:

∙so far as he is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙he has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditors, Shaw Gibbs (Audit) Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.

................................................

Mr F Becker

Director

Date: 14 September 2026

Page 3

URBAN LOGISTICS (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED

Opinion

We have audited the financial statements of Urban Logistics (UK) Limited (the 'Company') for the year ended 31 December 2025, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of 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 December 2025 and of its profit 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 Auditors' 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 United Kingdom, including the Financial Reporting Council'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 director's 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 director with respect to going concern are described in the relevant sections of this report.

Page 4

URBAN LOGISTICS (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is 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.

Opinion on other matters prescribed by the Companies Act 2006

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

∙the information given in the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Director's report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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 Director's 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 director's remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the director was not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic report.

Page 5

URBAN LOGISTICS (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED (CONTINUED)

Responsibilities of directors

As explained more fully in the Director's responsibilities statement set out on page 2, the director is 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 director determines 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 director is 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 director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

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 Auditors' 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation.
Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Page 6

URBAN LOGISTICS (UK) LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF URBAN LOGISTICS (UK) LIMITED (CONTINUED)

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 Auditors' 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.

Charlotte Anderson (Senior statutory auditor)

for and on behalf of

Shaw Gibbs (Audit) Limited

Statutory Auditors

Wey Court West

Union Road

Farnham

Surrey

GU9 7PT

14 September 2026

Page 7

URBAN LOGISTICS (UK) LIMITED

STATEMENT OF INCOME AND RETAINED EARNINGS

FOR THE YEAR ENDED 31 DECEMBER 2025

	2025	2024
Note	£	£


Turnover	3	9,358,641	9,010,811
Cost of sales		(7,056,401)	(7,047,514)
Gross profit		2,302,240	1,963,297
Administrative expenses		(1,761,524)	(1,542,995)
Operating profit	4	540,716	420,302
Interest receivable and similar income	7	80,858	99,958
Profit before tax		621,574	520,260
Tax on profit	8	(135,121)	(123,631)
Profit after tax		486,453	396,629



Retained earnings at the beginning of the year	1,112,469	715,840
Profit for the year	486,453	396,629
Retained earnings at the end of the year	1,598,922	1,112,469

There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of income and retained earnings.

The notes on pages 10 to 21 form part of these financial statements.

Page 8

URBAN LOGISTICS (UK) LIMITED

REGISTERED NUMBER: 02103631

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	9		188,401		142,554
Current assets
Debtors: amounts falling due within one year	10	4,182,479		3,611,126
Creditors: amounts falling due within one year	11	(1,699,327)		(1,591,209)
Net current assets			2,483,152		2,019,917
Total assets less current liabilities			2,671,553		2,162,471
Provisions for liabilities
Deferred tax	12	(22,629)		-
			(22,629)		-
Net assets			2,648,924		2,162,471

Capital and reserves
Called up share capital	13	1,050,002	1,050,002
Profit and loss account	14	1,598,922	1,112,469
		2,648,924	2,162,471

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Mr F Becker

Director

Date: 14 September 2026

The notes on pages 10 to 21 form part of these financial statements.

Page 9

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

Urban Logistics (UK) Limited (02103631) is a private company limited by shares and incorporated in England & Wales. Its registered office is Kingsclere Road, Basingstoke, Hampshire, RG21 6XJ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The accounts are presented in Sterling and rounded to the nearest £.

The following principal accounting policies have been applied:

2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

∙the requirements of Section 7 Statement of Cash Flows;

∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);

∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Kion Group AG as at 31 December 2025 and these financial statements may be obtained from Company Secretary, Linde Holdings Limited, Kingsclere Road, Basingstoke, RG21 6XJ.

Page 10

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.3

Going concern

The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons:
The principal activity of the company is to act as a distributor of goods and services of the group headed by KION Group AG, the ultimate parent company. The company’s cash flows are therefore dependant on the continuation, volume and pricing of these operations.
The company meets its day to day working capital requirements from operational cash flows, treasury management agreements with KION Group AG, which maintains the group-wide cash-pool balances, and trading balances with the group headed by KION Group AG.
The directors have performed a going concern assessment which indicates that in reasonably possible downsides, the company will require additional funds, through funding from its ultimate parent company KION Group AG, to meet its liabilities for at least 12 months from the date of approval of the financial statements, the going concern assessment period.
KION Group AG has indicated its intention to continue to make available such funds as needed by the company and that it does not intend to seek repayment of the amounts currently due to the group. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of the approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

2.4

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.

Page 11

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Revenue

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

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.7

Interest income

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

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 12

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.10

Tangible fixed assets

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.

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.

The estimated useful lives range as follows:

				Leasehold property improvements	-	5 to 10 years
				Fixtures and fittings	-	5 to 10 years

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.

2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.12

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.

2.13

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.

2.14

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.

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

Page 13

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.14

Financial instruments (continued)

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.

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.

Turnover

The whole of the turnover is attributable to the principal activity of the company.

Analysis of turnover by country of destination:

					2025	2024
					£	£

United Kingdom	9,249,163	8,886,319
Rest of Europe	109,478	124,492
	9,358,641	9,010,811

Page 14

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Depreciation of tangible fixed assets	39,910	51,440
Exchange differences	7,894	(8,391)
Other operating lease rentals	223,657	89,417
Other operating lease rentals	47,128	41,455

Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements	21,600	20,500
Fees payable to the Company's auditors and their associates in respect of:
All non-audit services not included above	5,809	9,268

Page 15

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Wages and salaries	942,374	952,083
Social security costs	115,738	123,743
Cost of defined contribution scheme	47,128	41,455
	1,105,240	1,117,281

The average monthly number of employees, including the director, during the year was as follows:

	2025	2024
	No.	No.

Administrative and managerial	20	20
Warehouse and technical	4	4

	24	24

During the year and the preceding year, the director was remunerated for his services to the company by other group companies. It is not practicable to split his remuneration between the various companies within the group.
Key management remuneration
Remuneration to the key management team of the company totalled £361,635 (2024 - £329,826).

7.	Interest receivable
		2025	2024
		£	£

Interest receivable from group companies

80,858

99,958

Page 16

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Corporation tax
Current tax on profits for the year	138,343	125,651
Adjustments in respect of previous periods	(25,851)	(2,020)
	112,492	123,631

Total current tax	112,492	123,631

Deferred tax
Origination and reversal of timing differences	22,629	-
Total deferred tax	22,629	-


	Tax on profit	135,121	123,631

Profit on ordinary activities before tax

621,574

520,260

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	155,394	130,065
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	203	4,048
Capital allowances for year in excess of depreciation	(17,103)	(11,893)
Changes in provisions leading to an increase (decrease) in tax charge	(151)	1,024
Adjustments to tax charge in respect of prior periods	(25,851)	(2,020)
Changes in tax rates leading in to increase (decrease) in tax charge	-	2,407
Dividends from UK companies	22,629	-
Total tax charge for the year	135,121	123,631

Page 17

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

8.Taxation (continued)

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

9.	Tangible fixed assets

	Leasehold property	Fixtures and fittings	Total
	£	£	£
Cost or valuation
At 1 January 2025	116,240	325,257	441,497
Additions	-	95,735	95,735
At 31 December 2025	116,240	420,992	537,232
Depreciation
At 1 January 2025	94,720	204,225	298,945
Charge for the year on owned assets	10,761	39,125	49,886
At 31 December 2025	105,481	243,350	348,831
Net book value
At 31 December 2025	10,759	177,642	188,401
At 31 December 2024	21,521	121,033	142,554

Page 18

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

10.

Debtors

					2025	2024 (restated)
					£	£


Trade debtors	9,509	6,343
Amounts owed by entities under common control	3,040,138	3,041,012
Other debtors	103,272	103,278
Prepayments and accrued income	1,029,560	460,493
	4,182,479	3,611,126

Amounts owed by entities under common control with control over the entity include loans of £3,040,138 (2024 £3,041,012), which is repayable on demand and have arisen from trading activity. Interest is receivable on the loans at a variable rate. The rate of interest applied are in line with current market rates.

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

Trade creditors	858,087	817,279
Corporation tax	227,859	205,251
Other taxation and social security	117,768	78,409
Other creditors	323,653	345,066
Accruals and deferred income	71,960	45,204
Share capital treated as debt	100,000	100,000
	1,699,327	1,591,209

12.	Deferred taxation

		2025
		£

	Charged to profit or loss	(22,629)
	At end of year	(22,629)

Page 19

URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

12.Deferred taxation (continued)

The deferred taxation balance is made up as follows:
	2025	2024
	£	£

	Accelerated capital allowances	(22,629)	-
		(22,629)	-

Allotted, called up and fully paid

1,050,002 (2024 - 1,050,002) Ordinary shares of £1.00 each	1,050,002	1,050,002

	2025	2024
	£	£
Shares classified as debt

Allotted, called up and fully paid

100,000 (2024 - 100,000) Ordinary redeemable shares of £1.00 each	100,000	100,000

The redeemable ordinary shares noted above may be redeemed at par at the shareholders', or the company's request, upon 30 days notice or on 31 December 2050. The shares rank equally to the ordinary shares.

14.

Reserves

Profit and loss account

This reserve includes all current and prior period retained profits and losses.

15.	Prior year adjustment

A prior year adjustment has been made to reallocate intercompany debt of £1,151,173 (2024 £1,876,544) from trade debtors to inter company and a further £952,743 (£448,976) from trade debtors to prepayments and accrued income.

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URBAN LOGISTICS (UK) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

16.	Pension commitments

The Company operates a defined contributions pension scheme for the benefit of employees. The assets of the scheme are administered by an independent pensions provider. Pension payments recognised as an expense during the year amounted to £47,128 (2024 - £41,455). Contributions totalling £7,036 (2024 - £8,061) were payable to the fund at the balance sheet date and are included within creditors.

Not later than 1 year	213,570	216,817
Later than 1 year and not later than 5 years	423,863	637,432
	637,433	854,249

18.

Related party transactions

The Company is consolidated within the publicly available accounts of KION Group AG. The Company has taken advantage of the exemption conferred by section 33 in Financial Reporting Standard 102 "Related party disclosures" not to disclose transactions with wholly owned members of the group.
Copies of these consolidated financial statements can be obtained from the Company Secretary, Linde Holdings Limited, Kingsclere Road, Basingstoke, RG21 6XJ.

19.	Controlling party

The ultimate parent undertaking and controlling party is KION Group AG which is incorporated in Germany and listed on the Frankfurt Stock Exchange. The registered office address is Thea-Rashe-Strasse 8, 60549 Frankfurt, Germany.
Weichai Power Co. Ltd indirectly holds a a 46.5% stake in the KION Group AG, via Weichai Power (Luxembourg) Holding S.a.r.l., as of 31 December 2025. Weichai Power Co. Ltd is part of the Weicha Holding Group Co,. Ltd, which in turn is owned by Shandong Heavey Industry Group Co. Ltd, which is ultimately owned by the state of China.
The consolidated financial statements of KION Group AG are available to the public on their website or copies can be obtained from Linde Holdings Limited, Kingsclere Road, Basingstoke, RG21 6XJ
The immediate parent undertaking is Urban-Transporte GmbH, a company incorporated in Germany. The company accounts are consolidated into the financial sttaements of KION Group AG.

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