IRIS Accounts Production v25.2.0.378 01694836 Board of Directors 1.1.24 31.12.24 31.12.24 16.9.25 true false true false false false true false Auditors Opinion Defined benefit pension plans Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 01694836 2023-12-31 01694836 2024-12-31 01694836 2024-01-01 2024-12-31 01694836 2022-12-31 01694836 2023-01-01 2023-12-31 01694836 2023-12-31 01694836 ns15:EnglandWales 2024-01-01 2024-12-31 01694836 ns14:PoundSterling 2024-01-01 2024-12-31 01694836 ns10:Director1 2024-01-01 2024-12-31 01694836 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01694836 ns10:SmallEntities 2024-01-01 2024-12-31 01694836 ns10:Audited 2024-01-01 2024-12-31 01694836 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 01694836 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 01694836 ns10:FullAccounts 2024-01-01 2024-12-31 01694836 1 2024-01-01 2024-12-31 01694836 ns5:TotalForAllPensionPlansExcludingMedicalOtherPlans 2024-01-01 2024-12-31 01694836 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 01694836 ns10:Director2 2024-01-01 2024-12-31 01694836 ns10:Director4 2024-01-01 2024-12-31 01694836 ns10:RegisteredOffice 2024-01-01 2024-12-31 01694836 ns5:CurrentFinancialInstruments 2024-12-31 01694836 ns5:CurrentFinancialInstruments 2023-12-31 01694836 ns5:ShareCapital 2024-12-31 01694836 ns5:ShareCapital 2023-12-31 01694836 ns5:CapitalRedemptionReserve 2024-12-31 01694836 ns5:CapitalRedemptionReserve 2023-12-31 01694836 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 01694836 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 01694836 ns5:NetGoodwill 2024-01-01 2024-12-31 01694836 ns5:IntangibleAssetsOtherThanGoodwill 2024-01-01 2024-12-31 01694836 ns5:NetGoodwill 2023-12-31 01694836 ns5:NetGoodwill 2024-12-31 01694836 ns5:NetGoodwill 2023-12-31 01694836 ns5:PlantMachinery 2023-12-31 01694836 ns5:PlantMachinery 2024-12-31 01694836 ns5:PlantMachinery 2023-12-31 01694836 ns5:CostValuation 2023-12-31 01694836 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31 01694836 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 01694836 ns10:OrdinaryShareClass1 2024-12-31 01694836 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 01694836 ns5:CapitalRedemptionReserve 2023-12-31 01694836 ns5:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 01694836 ns5:TotalForAllPensionPlansExcludingMedicalOtherPlans 2024-12-31 01694836 ns5:TotalForAllPensionPlansExcludingMedicalOtherPlans 2023-12-31 01694836 ns5:TotalForAllPensionPlansExcludingMedicalOtherPlans 2023-01-01 2023-12-31 01694836 ns5:TotalForAllPensionPlansExcludingMedicalOtherPlans 2023-12-31 01694836 ns5:TotalForAllPensionPlansExcludingMedicalOtherPlans 2022-12-31

REGISTERED NUMBER: 01694836 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FACET FILTRATION UK LIMITED

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

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 |

| FACET FILTRATION UK LIMITED |

COMPANY INFORMATION

for the year ended 31 December 2024

| DIRECTORS: | C Bernert

| L Perez Vazquez

| J W Radstaak

| REGISTERED OFFICE: | Offices F13-F15 Ty Cynon

| Navigation Park

| Abercynon

| Mid Glamorgan

| Glamorgan

| CF45 4SN

| REGISTERED NUMBER: | 01694836 (England and Wales)

| AUDITORS: | Dafferns Audit Limited

| Chartered Accountants

| Statutory Auditor

| One Eastwood

| Harry Weston Road

| Binley Business Park

| Coventry

| CV3 2UB

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

BALANCE SHEET

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 5 | - |  | - |  |

Tangible assets | 6 | - |  | - |  |

Investments | 7 | 245,881 |  | 245,881 |  |

245,881 |  | 245,881 |  |

CURRENT ASSETS

Stocks | 8 | 5,178 |  | 9,210 |  |

Debtors | 9 | 3,870,387 |  | 4,832,183 |  |

3,875,565 |  | 4,841,393 |  |

CREDITORS

Amounts falling due within one year | 10 | 2,249,551 |  | 3,190,571 |  |

NET CURRENT ASSETS | 1,626,014 |  | 1,650,822 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,871,895 |  | 1,896,703 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 100,000 |  | 100,000 |  |

Capital redemption reserve | 12 | 800,000 |  | 800,000 |  |

Retained earnings | 12 | 971,895 |  | 996,703 |  |

SHAREHOLDERS' FUNDS | 1,871,895 |  | 1,896,703 |  |

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2025 and were signed on its behalf by:

L Perez Vazquez - Director

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2024

1. | STATUTORY INFORMATION

| Facet Filtration UK 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Preparation of consolidated financial statements

| The financial statements contain information about Facet Filtration UK Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

| Revenue recognition

| Revenue is net of value added tax is recognised when product ownership and risk of loss have transferred to the customer or performance of services is complete and the company has no remaining obligations regarding the transaction. Estimated discounts, rebates and sales returns are recorded as a reduction of sales in the same period revenue is recognised. Shipping and handling costs are recorded as revenue when billed to customers. The related shipping and handling expenses are included in cost of sales. When it is estimated that a contract will result in a loss, the entire amount of the estimated loss is accrued.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

| Repairs and maintenance costs are charged to the income statement in the period in which they are incurred.

| Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life.

| Improvement to property |  | - over the life of the lease |

| Plant & machinery |  | - 10% - 33.3% on cost |

| Motor vehicles |  | - 20% on cost |

| Any gains and losses on the disposal of tangible fixed assets are recognised in the income statement in the year that the disposal takes place.

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

| Financial instruments

| Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset in measured at the present value of the future receipts discounted at a market rate of interest.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Defined contribution scheme

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from the company in an independently administered fund. Contributions payable for the year are charged in the income statement.

| Defined benefit pension scheme

| The company also operates a defined benefit pension scheme. The fund is valued every three years by a professionally qualified independent actuary and is updated annually to comply with FRS 102. The rates of contribution payable are determined by the actuary. In the intervening years the actuary reviews the continuing appropriateness of the rates.

| The company has not recognised the net pension asset on the scheme at the balance sheet date as the company does not have unconditional rights to the surplus. Regular pension costs are accounted for on the basis of charging the expected cost of providing pensions over the period during which the company benefits from the employees' services. The effects of variations from regular cost are spread over the expected average remaining service lives of members of the scheme.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2023 - 4 ) .

5. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 295,394 |  |

| AMORTISATION

| At 1 January 2024

| and 31 December 2024 | 295,394 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  |

| At 31 December 2023 | - |  |

| Goodwill relates to the purchase of the business, inventory and customer base of a small filtration division of a UK Plc in January 2009 and was brought into PECOFacet UK Limited on 31 July 2009 as part of the transfer of the whole business. Goodwill is being amortised over the estimated useful life of 10 years.

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

6. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 121,592 |  |

| DEPRECIATION

| At 1 January 2024

| and 31 December 2024 | 121,592 |  |

| NET BOOK VALUE

| At 31 December 2024 | - |  |

| At 31 December 2023 | - |  |

7. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 245,881 |  |

| NET BOOK VALUE

| At 31 December 2024 | 245,881 |  |

| At 31 December 2023 | 245,881 |  |

| Shares in group undertakings include the following investments:

| A 4.72% interest in the shares of Facet France SARL at a cost of £177,554 (2023: £177,554)

| A 9.34% interest in the shares of Facet Iberica SA at a cost of £68,327 (2023: £68,327)

| A 100% in interest in the shares of Facet (Middle East), registered in Dubai, at a cost of £7,993,605, which was impaired to a £nil valuation in 2018 (2023: £nil).

8. | STOCKS

2024 | 2023 |

£ | £ |

| Finished goods | 5,178 |  | 9,210 |  |

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

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

2024 | 2023 |

£ | £ |

| Trade debtors | 203,993 |  | 173,944 |  |

| Amounts owed by group undertakings | 3,060,071 |  | 3,960,429 |  |

| Other debtors | 2,184 |  | 2,184 |  |

| Deferred tax asset | 600,000 |  | 693,000 |  |

| Prepayments | 4,139 |  | 2,626 |  |

3,870,387 |  | 4,832,183 |  |

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

2024 | 2023 |

£ | £ |

| Trade creditors | 10,508 |  | 40,762 |  |

| Amounts owed to group undertakings | 919,447 |  | 460,639 |  |

| Social security and other taxes | 205,806 |  | 522,791 |  |

| Accruals and deferred income | 1,045,320 |  | 2,057,224 |  |

| Accrued expenses | 68,470 |  | 109,155 |  |

2,249,551 |  | 3,190,571 |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 100,000 | Ordinary | £1 | 100,000 |  | 100,000 |  |

12. | RESERVES

| Capital |

| Retained |  | redemption |

| earnings |  | reserve |  | Totals

£ | £ | £ |

| At 1 January 2024 | 996,703 |  | 800,000 |  | 1,796,703 |  |

| Profit for the year | 679,388 |  | 679,388 |  |

| Dividends | (637,196 | ) | (637,196 | ) |

| Actuarial gain/(loss) recognised in the year, net of related deferred tax | (105,000 | ) | - |  | (105,000 | ) |

| Pension surplus not recognised | 38,000 |  | - |  | 38,000 |  |

| At 31 December 2024 | 971,895 |  | 800,000 |  | 1,771,895 |  |

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

| The Report of the Auditors was unqualified.

| David Halkett FCCA (Senior Statutory Auditor)

| for and on behalf of Dafferns Audit Limited

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

14. | EMPLOYEE BENEFIT OBLIGATIONS

| The company operates a defined benefits scheme. An actuarial estimate performed by an independent qualified actuary has been undertaken as at 31 December 2024.

| The company expects to contribute £24,000 to its defined benefit plan in the period to 31 December 2025.

| The amounts recognised in the balance sheet are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Present value of funded obligations | (4,386,000 | ) | (4,922,000 | ) |

| Fair value of plan assets | 5,561,000 |  | 6,135,000 |  |

1,175,000 |  | 1,213,000 |  |

| Present value of unfunded obligations | - |  | - |  |

| Surplus not recognised | (1,175,000 | ) | (1,213,000 | ) |

| Deficit | - |  | - |  |

| Net liability | - |  | - |  |

| The amounts recognised in profit or loss are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Current service cost | 11,000 |  | 8,000 |  |

| Net interest from net defined benefit asset/liability | (54,000 | ) | (63,000 | ) |

| Past service cost | - |  | - |  |

(43,000 | ) | (55,000 | ) |

| Actual return on plan assets | 264,000 |  | 287,000 |  |

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

14. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| Changes in the present value of the defined benefit obligation are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Opening defined benefit obligation | 4,922,000 |  | 4,820,000 |  |

| Current service cost | 11,000 |  | 8,000 |  |

| Contributions by scheme participants | 7,000 |  | 6,000 |  |

| Interest cost | 210,000 |  | 224,000 |  |

| Actuarial losses/(gains) | (462,000 | ) | 165,000 |  |

| Benefits paid | (302,000 | ) | (301,000 | ) |

4,386,000 |  | 4,922,000 |  |

| Changes in the fair value of scheme assets are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Opening fair value of scheme assets | 6,135,000 |  | 6,125,000 |  |

| Contributions by employer | 24,000 |  | 24,000 |  |

| Contributions by scheme participants | 7,000 |  | 6,000 |  |

| Actuarial return on plan assets (excluding interest income) | (567,000 | ) | (6,000 | ) |

| Interest on assets | 264,000 |  | 287,000 |  |

| Benefits paid | (302,000 | ) | (301,000 | ) |

5,561,000 |  | 6,135,000 |  |

| The amounts recognised in other comprehensive income are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

£ | £ |

| Actuarial gains/(losses) on assets | (567,000 | ) | (6,000 | ) |

| Actuarial gains/(losses) on obligations | 462,000 |  | (165,000 | ) |

(105,000 | ) | (171,000 | ) |

FACET FILTRATION UK LIMITED (REGISTERED NUMBER: 01694836) |

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 December 2024

14. | EMPLOYEE BENEFIT OBLIGATIONS - continued

| The major categories of scheme assets as a percentage of total scheme assets are as follows:

| Defined benefit |

| pension plans |

2024 | 2023 |

| Buyout aware | 80.50% | 77.60% |

| LDI | 3.40% | 4.50% |

| Dynamic Diversified | 9.50% | 11.70% |

| Cash | 6.60% | 6.20% |

100.00% | 100.00% |

| Principal actuarial assumptions at the balance sheet date (expressed as weighted averages):

2024 | 2023 |

| Discount rate | 5.30% | 4.40% |

| Inflation - RPI | 3.30% | 3.30% |

| Inflation - CPI | 2.80% | 2.70% |

| Pension increase - RPI | 3.20% | 3.20% |

| Pension increase - CPI | 3.20% | 3.20% |

| The expected rates of return for scheme assets have been based on a combination of long-term estimates of the expected returns on each type of asset currently held by the Scheme.

| Future salary increases do not require disclosure for the current and subsequent years.

15. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

16. | ULTIMATE CONTROLLING PARTY

| The company is a wholly-owned subsidiary undertaking of Facet Netherlands BV.

| The company's ultimate parent company at 31 December 2024 is Filtration Group Corporation, a company incorporated in the United States of America. The largest group in which the results of the company are consolidated is that of Filtration Group Corporation, whose address is: 600 W 22nd Street, Oak Brook, IL 60523-1949, United States of America.