Company No: 10834950 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Antonio Erriu
	Andreas Wurst

REGISTERED OFFICE	Brockbourne House
	77 Mount Ephraim
	Tunbridge Wells
	TN4 8BS
	United Kingdom

COMPANY NUMBER

10834950 (England and Wales)

AUDITOR	S&W Partners Audit Limited
	Statutory Auditor
	Level 1 Brockbourne House
	77 Mount Ephraim
	Tunbridge Wells
	Kent
	TN4 8BS

	Note	2024		2023
		£		£
Current assets
Stocks	3	20,011		21,831
Debtors	4	188,728		102,148
Cash at bank and in hand		675,221		637,560
		883,960		761,539
Creditors: amounts falling due within one year	5	( 241,625)		( 244,140)
Net current assets		642,335		517,399
Total assets less current liabilities		642,335		517,399
Net assets		642,335		517,399
Capital and reserves
Called-up share capital		100,100		100,100
Profit and loss account		542,235		417,299
Total shareholder's funds		642,335		517,399

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Co-ax Valves UK Limited (registered number: 10834950) were approved and authorised for issue by the Board of Directors on 05 September 2025. They were signed on its behalf by:

Andreas Wurst Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Co-ax Valves UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, United Kingdom.

The principal place of business is Fairbourne Drive, Atterbury, Milton Keynes, MK10 9RG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, Financial Reporting Standard 102 (FRS102 1A), and the requirements of the Companies Act 2006 .

The functional currency of Co-ax Valves UK Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates. These financial statements are rounded to the nearest whole £1.

These financial statements are separate financial statements.

Going concern

Having taken into account all available information about the Company's trading prospects and cashflow requirements for 12 months from the date of approval of the financial statements, and based on the ongoing support of its parent company for this period, the directors consider that the Company is a going concern.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

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.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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 the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		4

3. Stocks

	2024		2023
	£		£
Stocks	20,011		21,831

4. Debtors

	2024		2023
	£		£
Trade debtors	181,977		97,977
Prepayments	6,525		4,047
Other debtors	226		124
	188,728		102,148

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	1,645		568
Amounts owed to Group undertakings	141,292		188,116
Accruals	24,650		15,500
Corporation tax	41,908		17,917
Other taxation and social security	31,373		21,279
Other creditors	757		760
	241,625		244,140

6. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2024		2023
	£		£
within one year	10,558		10,005

7. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Matthew Neill BA (Hons) MA FCA on behalf of S&W Partners Audit Limited.

8. Ultimate controlling party

The ultimate parent company and controlling party is Müller Co-Ax GmbH. which is incorporated in Germany. The financial statements are consolidated into the financial statements of the parent company, Müller Co-Ax GmbH. The parent company's registered office address is Gottfried-Müller-Straße 1, 74670 Forchtenberg, Germany.