Speed-Tech (UK) Limited

	Page
Company Information	1
Strategic Report	2
Director's Report	3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Statement of Comprehensive Income	8
Balance Sheet	9
Statement of Changes in Equity	10
Statement of Cash Flows	11
Notes to the Statement of Cash Flows	12
Notes to the Financial Statements	13—19

Page 1

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Strategic Report

For The Year Ended 31 December 2025

Strategic Report

The director presents his strategic report for the year ended 31 December 2025.

Review of the Business

Speed-Tech UK Ltd continued its strong performance in the logistics sector during the financial year ended 2025. The company achieved significant growth across key financial metrics:

Revenue: £15,345,026 (2024: £13,966,474) – an increase of 9.8%, driven by expanded service coverage and increased demand for efficient logistics solutions.

Gross Profit: £7,068,505 (2024: £5,918,933) – reflecting improved operational efficiency and cost management.

The company has benefited from increased demand for reliable supply chain services, particularly in e-commerce and retail sectors. Investments in fleet expansion, route optimization, and digital tracking systems have contributed to improved service delivery and customer satisfaction.

Principal Risks and Uncertainties

Speed-Tech UK Ltd operates in a dynamic and competitive environment. The principal risks and uncertainties facing the business include:

Fuel Price Volatility: Fluctuations in fuel costs can significantly impact operating margins.

Regulatory Changes: Evolving transport and environmental regulations may require operational adjustments and capital investment.

Technological Risks: Increasing reliance on digital systems introduces cybersecurity risks and the need for ongoing IT investment.

The company actively monitors these risks and has implemented mitigation strategies .

Future Developments

Management remains committed to the long-term growth and sustainability of Speed-Tech UK Ltd.

Section 172(1) Statement

In accordance with Section 172(1) of the Companies Act 2006, the director has acted in the way considered, in good faith, most likely to promote the success of the Company for the benefit of its members as a whole, whilst having regard to the interests of stakeholders and the long-term consequences of decisions.

The Company values its employees and seeks to attract and retain skilled personnel through competitive remuneration, training and development opportunities, and maintaining a safe and supportive working environment. Regular communication with employees helps management understand operational challenges and identify opportunities for improvement.
The Company maintains strong relationships with its customers by focusing on service reliability, responsiveness and operational efficiency.
The director recognises the importance of operating responsibly and considers the environmental impact of the Company's activities when making decisions regarding fleet investment, vehicle utilisation and operational efficiency. Efforts continue to be made to reduce fuel consumption and improve resource efficiency where commercially practical.

The director engages regularly with shareholders, employees, customers, suppliers and professional advisers to understand their interests and the potential impact of business decisions. This stakeholder engagement assists the Company in managing risk, maintaining high standards of business conduct and supporting the long-term sustainable growth of the business.

On behalf of the board

Mr Jatinder Khosa

Director

7 September 2026

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Speed-Tech (UK) Limited

Company No. 05313747

Director's Report For The Year Ended 31 December 2025

Director's Report

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

Principal Activity

The company's principal activity continues to be logistics, specializing in air cargo haulage. Operating from strategic hubs at Heathrow and Manchester airports, it manages a large fleet and offers a range of services, including same-day delivery, cold chain transport, and high-security shipments.

Directors

The director who held office during the year was as follows:

Mr Jatinder Khosa

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director 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 the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, 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 enable them 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.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Ballantyne & Company Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Jatinder Khosa

Director

7 September 2026

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Independent Auditor's Report

to the Members of

Speed-Tech (UK) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Speed-Tech (UK) Limited for the year ended 31 December 2025 which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity, Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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/(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 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 entity's ability to continue as a going concern for a period of at least 12 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 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. In connection with our audit of the financial statements, 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 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 the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report have 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 Strategic Report or 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 or 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.

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Independent Auditor's Report (continued)

to the Members of

Speed-Tech (UK) Limited

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 3, 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 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 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 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.

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:

the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and knowledge of the Company to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management and review of appropriate industry knowledge. Key laws and regulations we identified during the audit were the UK Companies Act 2006 and tax legislation, UK employment legislation and UK health and safety legislation;
we assessed the extent of compliance with the laws and regulations identified above by making enquiries of management; and
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; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.To address the risk of fraud through management bias and override of controls, we:

performed analytical procedures as a risk assessment tool to identify any unusual or unexpected relationships;
tested journal entries recorded on the Company’s finance system to identify unusual transactions that may indicate override of controls;
reviewed key judgements and estimates for any evidence of management bias; and
reviewed the application of accounting policies with focus on those with heightened estimation uncertainty.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; and
enquiring of management to identify actual and potential litigation and claims.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remains a higher risk of non detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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 that 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.

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Independent Auditor's Report (continued)

to the Members of

Speed-Tech (UK) Limited

Dalvir Johal (CA) (Senior Statutory Auditor)

for and on behalf of Ballantyne & Company Ltd , Statutory Auditor

7 September 2026

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Speed-Tech (UK) Limited

Profit and Loss Account

For The Year Ended 31 December 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER		15,345,026	13,966,474
Cost of sales		(8,276,521 )	(8,047,541 )

GROSS PROFIT		7,068,505	5,918,933

Administrative expenses		(3,243,838 )	(2,523,934 )

OPERATING PROFIT	3	3,824,667	3,394,999
Other interest receivable and similar income	8	17,898	6,221
Interest payable and similar charges	9	(46,678 )	(37,272 )

PROFIT BEFORE TAXATION		3,795,887	3,363,948
Tax on Profit	10	(1,495,741 )	(604,439 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		2,300,146	2,759,509

The notes on pages 12 to 19 form part of these financial statements.

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Speed-Tech (UK) Limited

Statement of Comprehensive Income

For The Year Ended 31 December 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	2,300,146	2,759,509
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	2,300,146	2,759,509

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Speed-Tech (UK) Limited

Balance Sheet

As At 31 December 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11		3,967,330		3,839,877

			3,967,330		3,839,877
CURRENT ASSETS
Debtors	12	5,490,023		3,904,718
Cash at bank and in hand		5,048,093		4,078,517

		10,538,116		7,983,235
Creditors: Amounts Falling Due Within One Year	13	(2,636,129 )		(1,663,134 )

NET CURRENT ASSETS (LIABILITIES)			7,901,987		6,320,101

TOTAL ASSETS LESS CURRENT LIABILITIES			11,869,317		10,159,978

Creditors: Amounts Falling Due After More Than One Year	14		(342,913 )		(431,635 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	16		(497,915 )		-

NET ASSETS			11,028,489		9,728,343

CAPITAL AND RESERVES
Called up share capital	17		2		2
Profit and Loss Account			11,028,487		9,728,341

SHAREHOLDERS' FUNDS			11,028,489		9,728,343

On behalf of the board

Mr Jatinder Khosa

Director

7 September 2026

The notes on pages 12 to 19 form part of these financial statements.

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Speed-Tech (UK) Limited

Statement of Changes in Equity

For The Year Ended 31 December 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2024	2	7,968,832	7,968,834
Profit for the year and total comprehensive income	-	2,759,509	2,759,509

Dividends paid	-	(1,000,000)	(1,000,000)

As at 31 December 2024 and 1 January 2025	2	9,728,341	9,728,343


Profit for the year and total comprehensive income	-	2,300,146	2,300,146

Dividends paid	-	(1,000,000)	(1,000,000)

As at 31 December 2025	2	11,028,487	11,028,489

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Speed-Tech (UK) Limited

Statement of Cash Flows

For The Year Ended 31 December 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	3,803,833	3,240,317
Interest paid		(46,678 )	(37,272 )
Tax paid		(604,439 )	(390,051 )

Net cash generated from operating activities		3,152,716	2,812,994

Cash flows from investing activities
Purchase of tangible assets		(1,051,551 )	(981,141 )
Interest received		17,898	6,221

Net cash used in investing activities		(1,033,653 )	(974,920 )

Cash flows from financing activities
Equity dividends paid		(1,000,000 )	(1,000,000 )
Repayment of bank borrowings		-	(33,659 )
Repayment of finance leases		(149,487 )	(411,434 )
Amount withdrawn by directors		-	(15,151)

Net cash used in financing activities		(1,149,487 )	(1,460,244 )



Increase in cash and cash equivalents		969,576	377,830
Cash and cash equivalents at beginning of year	2	4,078,517	3,700,687

Cash and cash equivalents at end of year	2	5,048,093	4,078,517

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Speed-Tech (UK) Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 December 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	2,300,146	2,759,509
Adjustments for:
Tax on profit	1,495,741	604,439
Interest expense	46,678	37,272
Interest income	(17,898 )	(6,221 )
Depreciation of tangible assets	924,098	786,907
Movements in working capital:
Increase in trade and other debtors	(1,585,305 )	(575,518 )
Increase/(decrease) in trade and other creditors	640,373	(366,071 )

Net cash generated from operations	3,803,833	3,240,317

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	5,048,093	4,078,517

3. Analysis of changes in net funds

	As at 1 January 2025	Cash flows	As at 31 December 2025
	£	£	£
Cash at bank and in hand	4,078,517	969,576	5,048,093
Finance leases	(880,416)	149,487	(730,929)

	3,198,101	1,119,063	4,317,164

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Speed-Tech (UK) Limited

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Speed-Tech (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05313747 . The registered office is Profile West Suite D Second Floor, 950 Great West Road, Brentford, TW8 9ES.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No Depreciation
Plant & Machinery	25% Reducing Balance Method
Motor Vehicles	25% Reducing Balance Method
Fixtures & Fittings	25% Reducing Balance Method

The directors review the useful economic lives, residual values and depreciation methods of tangible fixed assets at each reporting date. Any changes arising from the review are accounted for prospectively as a change in accounting estimate.

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Speed-Tech (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Financial Instruments

Financial instruments are recognised in the Company's balance sheet when the Company becomes a party to the contractual provisions of the instrument.
Basic financial assets, including trade and other debtors, amounts due from related parties, cash and bank balances, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method, less any impairment.
Basic financial liabilities, including trade creditors, accruals and finance lease obligations, are initially recognised at transaction price and subsequently measured at amortised cost using the effective interest method.
The Company assesses at each reporting date whether there is objective evidence that a financial asset is impaired. Where there is objective evidence of impairment, an impairment loss is recognised in profit or loss.Trade debtors and amounts due from related parties are reviewed regularly for recoverability. Where there is evidence that amounts may not be recoverable, appropriate impairment provisions are recognised.
The Company's financial assets and liabilities are held primarily for the purpose of supporting its trading activities. The Company does not enter into complex financial instrument arrangements, derivative contracts or hedging transactions.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Operating Profit

The operating profit is stated after charging:

	2025	2024
	£	£
Depreciation of tangible fixed assets	924,098	786,907

4. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	13,500	12,500

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Speed-Tech (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	805,392	637,928
Social security costs	93,660	62,448
Other pension costs	15,204	20,353

	914,256	720,729

6. Average Number of Employees

Average number of employees, including directors, during the year was: 17 (2024: 16)

7. Director's remuneration

	2025	2024
	£	£
Emoluments	73,189	51,589
Company contributions to money purchase pension schemes	2,201	4,763

	75,390	56,352

8. Interest Receivable and Similar Income

	2025	2024
	£	£
Bank interest receivable	17,898	6,221

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Finance charges payable under finance leases and hire purchase contracts	46,192	37,272
Late payment tax charges	486	-

	46,678	37,272

10. Tax on Profit

The tax charge on the profit for the year was as follows:

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	25.0%	997,826	604,439
Deferred Tax
Deferred taxation			497,915	-


Total tax charge for the period			1,495,741	604,439

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

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Speed-Tech (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	2025	2024
	£	£
Profit before tax	3,795,887	3,363,948

Tax on profit at 25% (UK standard rate)	948,972	840,987
Goodwill/depreciation not allowed for tax	231,024	196,727
Expenses not deductible for tax purposes	345	869
Capital allowances	(266,890 )	(434,144 )
Short term timing differences	497,915	-
Difference in tax rates	84,375	-

Total tax charge for the period	1,495,741	604,439

11. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 January 2025	500,000	755,143	6,175,906	-	7,431,049
Additions	-	103,495	895,308	52,748	1,051,551

As at 31 December 2025	500,000	858,638	7,071,214	52,748	8,482,600

Depreciation
As at 1 January 2025	-	144,951	3,446,221	-	3,591,172
Provided during the period	-	162,798	753,608	7,692	924,098

As at 31 December 2025	-	307,749	4,199,829	7,692	4,515,270

Net Book Value
As at 31 December 2025	500,000	550,889	2,871,385	45,056	3,967,330

As at 1 January 2025	500,000	610,192	2,729,685	-	3,839,877

12. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,998,860	2,813,555
Amounts owed by participating interests	251,341	1,341
Other debtors	2,239,822	1,089,822

	5,490,023	3,904,718

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Speed-Tech (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

13. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	388,016	448,781
Trade creditors	829,562	128,177
Corporation tax	997,826	604,439
Taxation and social security	398,225	463,237
Accruals and deferred income	22,500	18,500

	2,636,129	1,663,134

14. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	342,913	431,635

15. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	388,016	448,781
Later than one year and not later than five years	342,913	431,635

	730,929	880,416

	730,929	880,416

16. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	497,915	-

The deferred tax liability arises primarily from timing differences between capital allowances claimed for corporation tax purposes and depreciation charged in the financial statements on tangible fixed assets.

17. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

Page 17

Page 18

Speed-Tech (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

18. Financial Instruments

The company has the following financial instruments:

	2025	2024
	£	£
Financial assets
Financial assets that are debt Instruments measured at amortised cost	10,538,116	7,983,235

Financial liabilities
Financial liabilities measured at amortised cost	1,560,491	1,008,593

The Company's financial instruments comprise cash balances, trade and other receivables, trade creditors and finance lease liabilities. The carrying values of these financial instruments are considered to approximate their fair values due to their short-term nature or market-based financing arrangements.

19. Credit Risk

Credit risk is the risk of financial loss arising from a customer or counterparty failing to meet its contractual obligations. The Company is exposed to credit risk primarily in respect of trade receivables and amounts due from related parties.

Management actively monitors outstanding balances and reviews the recoverability of receivables on an ongoing basis.Management has assessed the recoverability of these balances at the reporting date and considers no impairment provision to be necessary.The maximum exposure to credit risk at the reporting date is represented by the carrying value of the financial assets recognised in the balance sheet.

20. Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting its financial obligations as they fall due.

The Company manages liquidity risk through regular cash flow forecasting and maintains sufficient cash reserves to meet its operational and financing requirements. At 31 December 2025, the Company held cash balances of £5,048,093 compared with finance lease liabilities of £730,929, providing significant liquidity headroom.

Management monitors working capital levels regularly and considers the Company's cash resources and expected future operating cash flows to be adequate to meet its liabilities as they fall due.

21. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £15,204 (2024: £20,353).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

22. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	1,000,000	1,000,000

23. Related Party Disclosures

Other debtors include an amount receivable from Khosa Properties Limited, a company under common control, amounting to £1,932,817 (2024: £1,082,817). The balance is unsecured, interest free and repayable on demand. No impairment provision has been recognised in respect of the balance.

Other debtors include an amount receivable from Goldstar Property Investments Limited, a company under common control, amounting to £300,000 (2024: £Nil). The balance is unsecured, interest free and repayable on demand. No impairment provision has been recognised in respect of the balance.

During the year the company entered into transactions with a shareholder (Mr.Baljinder Khosa) who exercises significant control over the company.At 31 December 2025, a loan balance of £251,341 (2024: £1,341) was outstanding and is included within Amounts owed by participating interests.The loan is unsecured, interest free and repayable on demand. No impairment provision has been recognised in respect of the balance and no amounts have been written off during the year.

Management has assessed recoverability of related party balances and concluded no impairment is required.

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Page 19

Speed-Tech (UK) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

24. Controlling Parties

The company's ultimate controlling party is Baljinder Khosa by virtue of their interest in the share capital of the company.

Page 19

Director	Mr Jatinder Khosa

Secretary	Mr Baljinder Khosa

Company Number	05313747

Registered Office	Profile West Suite D Second Floor
	950 Great West Road
	Brentford
	TW8 9ES

Accountants	Ballantyne & Co
	Chartered Accountants & Registered Auditors
	60 St. Enoch Square
	Glasgow
	G1 4AG