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REGISTERED NUMBER: 10940375 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Hitex Holdings Limited

Hitex Holdings Limited (Registered number: 10940375)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

Hitex Holdings Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTOR: | A E Powell

| REGISTERED OFFICE: | Cloister Way

| Ellesmere Port

| Cheshire

| CH65 4EL

| REGISTERED NUMBER: | 10940375 (England and Wales)

| AUDITORS: | Haines Watts Liverpool Limited

| Pacific Chambers

| 11-13 Victoria Street

| Liverpool

| Merseyside

| L2 5QQ

Hitex Holdings Limited (Registered number: 10940375)

Balance Sheet

31 December 2024

31.12.24 | 31.12.23 |

| Notes | £ | £ | £ | £

FIXED ASSETS

Investments | 4 | 31,454,857 |  | 31,454,857 |  |

CURRENT ASSETS

Debtors | 5 | - |  | 4,197 |  |

CREDITORS

Amounts falling due within one year | 6 | 11,086 |  | 4,783 |  |

NET CURRENT LIABILITIES | (11,086 | ) | (586 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 31,443,771 |  | 31,454,271 |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 610 |  | 610 |  |

Other reserves | 31,454,253 |  | 31,454,253 |  |

Retained earnings | (11,092 | ) | (592 | ) |

SHAREHOLDERS' FUNDS | 31,443,771 |  | 31,454,271 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 July 2025 and were signed by:

A E Powell - Director

Hitex Holdings Limited (Registered number: 10940375)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Hitex Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The financial statements contain information about Hitex Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 401 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, MS Management GmbH, SWARCO AG,Blattenwaldweg 8,6112 Wattens, Austria.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at fair value at the date of acquisition.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was NIL (2023 - NIL).

Hitex Holdings Limited (Registered number: 10940375)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

4. | FIXED ASSET INVESTMENTS

Shares in |

group |

undertakings |

| £

| COST

| At 1 January 2024

| and 31 December 2024 | 31,454,857 |  |

| NET BOOK VALUE

| At 31 December 2024 | 31,454,857 |  |

| At 31 December 2023 | 31,454,857 |  |

5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.12.24 | 31.12.23 |

| £ | £

| Amounts owed by group undertakings | - |  | 4,197 |  |

| Amounts owed from group undertakings are unsecured and bare quarterly interests at an average rate of 1.2% or are interest free.

6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

31.12.24 | 31.12.23 |

| £ | £

| Amounts owed to group undertakings | 5,539 |  | - |  |

| Other creditors | 5,547 |  | 4,783 |  |

11,086 |  | 4,783 |  |

| Amounts owed to group undertakings are unsecured and bare quarterly interests at an average rate of 1.2% or are interest free.

Hitex Holdings Limited (Registered number: 10940375)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

7. | CALLED UP SHARE CAPITAL

| Allotted and issued: |  |

| Number: |  |  | Nominal value: |  | 31.12.23 |  | 31.12.22 |  |

| £ |  | £ |  | £ |  |

| 606 |  | Ordinary share capital |  | 1 |  | 606 |  | 606 |  |

| 1 |  | A Ordinary share capital |  | 1 |  | 1 |  | 1 |  |

| 1 |  | B Ordinary share capital |  | 1 |  | 1 |  | 1 |  |

| 1 |  | C Ordinary share capital |  | 1 |  | 1 |  | 1 |  |

| 1 |  | D Ordinary share capital |  | 1 |  | 1 |  | 1 |  |

|  | 610 |  | 610 |  |

| The company's ordinary shares, which carry no right to fixed income, each carry the right to one vote at general meetings of the company. All classes of share capital rank pari passu in all respects.

| The company's A, B, C and D ordinary shares, which carry no right to fixed income, do not carry the right to vote at general meetings of the company.

8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

| The Report of the Auditors was unqualified.

| Timothy Cherry, FCCA (Senior Statutory Auditor)

| for and on behalf of Haines Watts Liverpool Limited

9. | ULTIMATE CONTROLLING PARTY

| On 25 October 2021 Swarco AG purchased the entire share capital of Hitex Holdings Limited. Following this, MS Management GmbH, a company incorporated in Austria became the ultimate parent company. Swarco AG is the only group of undertakings to consolidate these financial statements at 31 December 2024. The address is below;

| SWARCO AG

| Blattenwaldweg 8

| 6112 Wattens

| Austria

| The ultimate controlling party is the board of directors of MS Management GmbH by virtue of their shareholdings.