REGISTERED NUMBER: 04371466 (England and Wales)

for

Page

Company Information  

1

Strategic Report  

2

Report of the Director  

10

Report of the Independent Auditors  

12

Statement of Comprehensive Income

15

Balance Sheet  

16

Statement of Changes in Equity  

17

Notes to the Financial Statements

18

DIRECTOR:

A E Powell

REGISTERED OFFICE:

Cloister Way

Ellesmere Port

Cheshire

CH65 4EL

REGISTERED NUMBER:

04371466 (England and Wales)

AUDITORS:

Haines Watts Liverpool Limited

Pacific Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

The director presents his strategic report for the year ended 31 December 2024.

Swarco Hitex Ltd is an independent market leader in the manufacture of innovative road marking materials.

REVIEW OF BUSINESS

A summary of the results of the business is shown below.

The key financial highlights are as below

31.12.24

31.12.23

£

£

Turnover

23,952,128

22,864,409

Gross profit margin

30.8%

26.1%

Profit before tax

4,550,740

3,318,548

Operating across numerous countries and regions worldwide, the company engages in diverse international trade. Despite operating within an intensely competitive market, we experienced an increase in sales volume, reflecting the robustness of our global operations. However, amidst this growth, we remain vigilant in managing our operating costs, recognizing the persistent challenges posed by escalating energy expenses and raw material costs. Additionally, we navigate the impact of ongoing pressure on public spending, underscoring the importance of prudent financial management and strategic decision-making in maintaining our competitive edge and sustaining profitability.

The increase in turnover is a combination of several factors:

- increase in sales quantities across the entire portfolio, this relates to both new and existing international markets as well as the UK ;

- A wider Swarco group product portfolio.

The increase in net profit is due to:

- further optimisation of production and supply;

- knowhow exchange between SWARCO group companies.

PERFORMANCE MANAGEMENT

The Director spearheads the development of long-term financial plans aimed at enhancing performance across all facets of the business. Monthly performance reviews are conducted meticulously, during which the Director meticulously evaluates the Company's performance by juxtaposing actual results against both prior year and budgetary benchmarks. This analysis is comprehensive, with a particular focus on scrutinising turnover, operating costs, cash flows, and working capital levels to ensure optimal financial health and operational efficiency. Through this rigorous performance management process, we continuously strive for improvement and alignment with strategic objectives, fostering a culture of accountability and excellence throughout the organization.

PRINCIPAL RISKS AND UNCERTAINTIES

In our strategic report, we recognise that there exist a multitude of potential risks and uncertainties that could significantly influence the long-term performance of Swarco Hitex  Ltd. Our risk management process is designed to facilitate early identification, evaluation, and effective management of these risks, ensuring the preservation of value and the realisation of strategic objectives. The Director has identified the following as the principal risks and uncertainties that could have the most significant impact on the Company's value generation:

Market and Competitive Dynamics: Fluctuations in market conditions and intense competition within our industry pose significant risks to our business. Changes in consumer preferences or aggressive pricing strategies by competitors could erode our market share and undermine our financial performance.

Supply Chain Disruptions: Dependencies on suppliers and logistical networks expose us to supply chain disruptions, including shortages of raw materials, transportation delays, or geopolitical instability. Any disruption to the supply chain could disrupt production schedules, increase costs, and adversely affect our ability to meet customer demand.

Regulatory and Compliance Risks: Evolving regulatory requirements and compliance obligations present ongoing challenges for our operations. Non-compliance with regulations pertaining to product safety, environmental standards, or data protection could result in legal liabilities, fines, or reputational damage.

Financial Risks: Economic uncertainties, currency fluctuations, and liquidity constraints pose financial risks to our business. Volatility in financial markets, changes in interest rates, or credit risks associated with customers and counterparties could impact our cash flows, profitability, and financial stability.

Operational Resilience: Operational disruptions, including equipment failures, IT outages, or workforce disruptions, pose operational risks to our business continuity. Inadequate disaster recovery plans, insufficient redundancies, or human errors could result in downtime, production losses, and reputational harm.

Mitigation Strategies

To address these principal risks and uncertainties effectively, Swarco Hitex Ltd. implements a comprehensive risk management framework, encompassing the following mitigation strategies:

Risk Identification and Assessment: Regular risk assessments and scenario analyses enable us to identify and evaluate potential risks, prioritising those with the highest likelihood and impact on our business objectives.

Control Implementation: Robust internal controls and governance structures are implemented to mitigate identified risks effectively. These controls encompass operational procedures, compliance measures, and technological safeguards to minimize risk exposure.

Monitoring and Review: Ongoing monitoring and review mechanisms ensure the effectiveness of risk mitigation measures and enable timely adjustments in response to changing risk profiles or emerging threats.

The company remains vigilant in assessing and managing the principal risks and uncertainties that could impact our long-term performance and value generation. Through proactive risk management practices, stringent controls, and continuous monitoring, we strive to mitigate risks effectively, preserve shareholder value, and ensure the resilience and sustainability of our business in an ever-evolving operating environment.

COMPETITOR ENVIRONMENT AND CUSTOMER RISK

In the market landscape where Swarco Hitex Ltd. operates, strong competition poses inherent risks of potential customer attrition to competitors. However, our strategic approach focuses on mitigating these risks through robust customer and supplier relationships, prioritising high levels of support, quality, and innovation.

Competitor Environment:

Intense Market Competition: The market in which the company operates is characterised by intense competition, with numerous players vying for market share and customer attention, each striving to differentiate their offerings and capture market leadership.

Market Dynamics: Market dynamics such as changing technological advancements, and regulatory shifts contribute to the competitive landscape. Continuous monitoring of market trends and competitor strategies is essential to anticipate and respond effectively to market developments.

Customer Risk Management:

Strong Customer Relationships: The company mitigates the risk of customer attrition by fostering strong relationships with customers. Through regular communication, personalised service, and attentive support, we aim to build trust and loyalty, ensuring that customers choose to remain engaged with our brand despite competitive pressures.

Supplier Relationships: Equally important are our relationships with suppliers, as they directly impact our ability to deliver quality products and services to customers. By cultivating collaborative partnerships with reliable suppliers, we mitigate supply chain risks and ensure timely delivery of goods to meet customer demand.

Focus on Customer Service and Quality:

The company places a strong emphasis on delivering exceptional customer service and high-quality products. By consistently exceeding customer expectations and maintaining stringent quality standards, we differentiate ourselves from competitors and strengthen customer loyalty.

Key Performance Indicators (KPIs):

Service Levels: Monitoring service levels, including response times, order fulfilment rates, and resolution times, allows us to gauge our performance in meeting customer expectations and identify areas for improvement.

Customer Complaints: Tracking and analysing customer complaints provide valuable insights into areas of dissatisfaction and opportunities for service enhancement. By addressing customer concerns promptly and effectively, we demonstrate our commitment to customer satisfaction and retention.

While the competitive environment presents inherent risks of customer attrition, we adopt a proactive approach to managing these risks through strong customer and supplier relationships, superior customer service, quality products, and innovative products. By closely monitoring key performance indicators and continuously refining our strategies, we position ourselves for sustained success and competitiveness in the market.

STATE OF THE ECONOMY

The state of the UK economy has both opportunities and challenges for Swarco Hitex Ltd as a road marking material manufacturer. While infrastructure investments drive demand for road marking products, inflationary pressures, supply chain disruptions, and regulatory requirements pose challenges to operational efficiency and profitability. By closely monitoring economic trends, adapting to market dynamics, and implementing proactive strategies, we are well-positioned to navigate the evolving economic landscape and sustain long-term growth and resilience in our industry.

Inflation and Supply Chain Pressures: Inflationary pressures and supply chain disruptions remain key challenges. Rising energy costs, global supply chain bottlenecks, and shortages of raw materials have led to inflationary pressures, impacting production costs and sales prices.

Labour Market Dynamics: Labour market dynamics continue to evolve, with shifts in workforce participation, remote working trends, and skills shortages influencing employment patterns. Recruitment challenges and wage pressures are prevalent in our industry, affecting overall labour costs and productivity.

Implications for Road Marking Material Manufacturing:

Construction Sector Activity: The performance of the construction sector directly impacts demand for road marking materials. Infrastructure investment and construction projects are expected to drive demand for road marking products, particularly in road maintenance and new construction projects.

Input Cost Volatility: Fluctuations in input costs, including raw materials, energy prices, and transportation expenses, pose challenges for cost management and pricing strategies. Effective supply chain management and strategic procurement practices are essential to mitigate the impact of input cost volatility on profitability.

Regulatory Environment: Regulatory developments and sustainability initiatives play a significant role in shaping the road marking materials industry. Compliance with environmental regulations, adoption of lower carbon materials, and innovation in sustainable road marking solutions are increasingly important considerations for market competitiveness.

FINANCIAL RISK MANAGEMENT

We prioritise prudent financial risk management to safeguard our operations and optimise shareholder value. In our strategic report, we address two significant financial risks: credit risk and currency risk, emphasising our proactive measures to mitigate these risks effectively.

Credit Risk Management:

Long-standing Customer Relationships: Our longstanding relationships with customers provide us with invaluable insights into their creditworthiness and payment behaviours. We leverage this knowledge to assess credit risk accurately and make informed decisions regarding credit extensions. These relationships also facilitate open communication channels, allowing us to address any potential credit issues promptly.

Credit Control Procedures and Checks: We have implemented robust credit control procedures and checks to mitigate credit risk effectively. These procedures include thorough credit assessments of new customers, periodic reviews of existing credit arrangements, and monitoring of payment performance. By maintaining stringent credit control measures, we minimise the likelihood of credit defaults and ensure the stability of our receivables portfolio.

Currency Risk Management:

Support from Parent Group Treasury Department: Our currency risk management strategy is fully supported by the expertise and resources of our parent group treasury department. Leveraging their extensive experience in foreign exchange markets and hedging strategies, we implement proactive measures to mitigate the impact of currency fluctuations on our financial performance.

Hedging Instruments: We utilise a range of hedging instruments, such as forward contracts to manage currency risk exposure effectively. These instruments enable us to lock in favourable exchange rates and mitigate the adverse effects of currency volatility on our revenue, expenses, and cash flows.

Our proactive approach to financial risk management underscores our commitment to preserving the stability and resilience of our business operations. Through long-standing customer relationships, rigorous credit control procedures, and support from our parent group treasury department, we effectively mitigate credit risk and currency risk, ensuring the continued financial health and sustainability of the company.

DEVELOPMENTS AND PERFORMANCE

We maintain a steadfast commitment to innovation and continuous improvement to ensure that we deliver the best performing and most competitive product range to our customers. Our focus on sustainable new product developments serves as a cornerstone of our strategic approach, driving growth and differentiation in the market.

New Product Developments:

Market Research and Customer Insights: We actively seek and gather valuable customer insights to identify emerging trends, unmet needs, and areas for product innovation. By understanding our customers' evolving preferences and challenges, we can tailor our product development efforts to deliver solutions that truly resonate with their requirements.

Cross-Functional Collaboration: As an integral part of the Swarco Group, we are committed & enthusiastic participants within the wider R&D team. Our product development process involves expert teams from several group companies and departments. By fostering interdisciplinary teamwork and knowledge sharing, we leverage diverse perspectives and expertise to create and execute innovative product concepts.

Technological Advancements: We harness the latest technological advancements and industry best practices to drive innovation in materials, and manufacturing processes. By staying at the forefront of technological innovation, we are able to develop increasingly sustainable products that offer superior performance, durability, and reliability compared to traditional offerings in the market.

Quality Assurance and Testing: Rigorous quality assurance and testing protocols are integral to our product development process, ensuring that our products meet the highest standards of quality, safety, and reliability. By conducting thorough testing and validation procedures, we instil confidence in our customers and uphold our reputation for delivering premium-quality products.

Performance:

Market Penetration and Growth: Our focus on new product developments continues to enable us to expand our market presence and penetrate new global markets and customer segments. By introducing innovative products that address evolving market needs, we have achieved sustained growth and captured market share in competitive environments.

Customer Satisfaction and Loyalty: The performance of our product range is reflected in the high levels of customer satisfaction and loyalty we have consistently achieved. By delivering products that exceed customer expectations in terms of performance, quality, and value, we have built enduring relationships with our customers and earned their trust and loyalty.

Competitive Positioning: Our commitment to offering the most competitive product range in the market has strengthened our competitive positioning and differentiated us from competitors. By continuously innovating and staying ahead of industry trends, we remain agile and responsive to market dynamics, enabling us to maintain a competitive edge and sustain long-term success.

In conclusion, our strategic focus on new Swarco Group products underscores our dedication to providing our customers with the best performing and most competitive product range in the industry. Through innovation, collaboration, and a relentless pursuit of excellence, we remain poised for continued growth, profitability, and success in the marketplace.

EMPLOYMENT POLICY

We recognise that our employees are our most valuable asset, essential to achieving our strategic objectives and maintaining our competitive edge in the market. Our employment policy is crafted with a dual focus on staff retention and training, ensuring the development and retention of a skilled and motivated workforce.

Staff Retention:

Competitive Compensation and Evolving Benefits: We are committed to attracting and retaining top talent by offering competitive compensation packages and a comprehensive range of benefits. Our remuneration structure is regularly benchmarked against industry standards to ensure it remains competitive and aligned with market expectations. In addition to this, we are actively reviewing and enhancing our wider employee benefits offering to better support the wellbeing, development, and engagement of our people across all areas of the business.

Career Development Opportunities: We are committed to providing our employees with ample opportunities for career growth and advancement within the organisation. Through ongoing performance evaluations and development discussions, we identify individual career aspirations and provide the necessary support and resources to help employees achieve their goals.

Training and Development:

Continuous Learning Culture: We foster a culture of continuous learning and skill development, recognising that the rapid pace of change in our industry requires life long learning. Through both internal and external training programs, employees have access to opportunities to enhance their professional knowledge and expertise.

Tailored Training Programs: Our training initiatives are tailored to the specific needs and career aspirations of our employees. Whether through skill enhancement, leadership development programs, or mentorship opportunities, we strive to provide targeted training experiences that align with individual career paths and organisational goals.

Knowledge Sharing and Collaboration: We encourage knowledge sharing and collaboration among employees through cross-functional projects, communities of practice, and internal communication channels. By fostering an environment of collaboration and collective learning, we harness the diverse talents and perspectives of our workforce to drive innovation and excellence.

Our employment policy underscores our commitment to nurturing a supportive and engaging work environment where employees feel valued, empowered, and motivated to contribute their best. Through strategic investments in staff retention and training initiatives, we aim to cultivate a high-performing workforce capable of driving our company's success both now and in the future.

RISK OF BUSINESS INTERRUPTION

The company maintains a robust operational framework designed to mitigate risks and ensure continuity in business operations. Our strategic focus on resilience and proactive risk management strategies significantly minimises the likelihood of business interruption.

Diverse Supply Chain: Our supply chain is diversified across multiple regions and suppliers, reducing dependency on any single source and mitigating the impact of potential disruptions.

Continuity Planning: Comprehensive business continuity plans are in place to address various scenarios, ensuring swift response and minimal disruption in the event of unforeseen circumstances such as natural disasters, cyber threats, or other emergencies.

Technology Infrastructure: Investments in robust technology infrastructure in both Swarco Hitex Ltd & the wider Swarco Group bolster our ability to maintain operations even during technological challenges or cyber incidents.

Financial Resilience: Strong financial reserves and risk management practices provide a buffer against economic volatility, enabling the company to weather downturns without significant interruption to core business activities.

Regulatory Compliance: Adherence to regulatory requirements and industry standards not only safeguards against potential disruptions due to non-compliance but also enhances our ability to anticipate and address emerging regulatory risks.

In conclusion, the company's proactive approach to risk management, coupled with strategic investments in resilience-building measures, positions us favourably with a very low risk of business interruption. We remain committed to continuously monitoring and adapting our strategies to uphold operational stability and deliver value to stakeholders.

ON BEHALF OF THE BOARD:

A E Powell - Director

24 July 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

DIVIDENDS

No interim dividend was paid during the year.  The director recommends a final dividend of 25,320p per share.

The total distribution of dividends for the year ended 31 December 2024 will be £ 2,532,000 .

RESEARCH AND DEVELOPMENT

A main focus of the business is R&D and we have taken on additional staff to support this effort. The results are demonstrated by the increased product range and the reputation for the company in supplying reliable, good quality products at competitive prices.

FUTURE DEVELOPMENTS

Future developments continue to be finding sustainable export business, expanding the product range particularly in the growing area of road crack and pothole repair materials. Having joined SWARCO RMS' "Center of Competence" knowledge sharing between Swarco Hitex Ltd and all pool partners is already starting  to broaden SWARCOs product range in both existing and new markets in the UK and internationally.

DIRECTORS

The directors who have held office during the period from 1 January 2024 to the date of this report are as follows:

K J Niederer - resigned 1 April 2024

A E Powell - appointed 2 January 2024

POLITICAL DONATIONS AND EXPENDITURE

During the year the company made charitable donations totalling £22,036, paid to The Bobby Colleran Trust, Teenage Cancer Trust, Tranmere Ladies FC, Zoe's Place and Brake The Road.

EMPLOYEES

The company carries out ongoing internal training courses for all members of staff on new and improved products.

Full internal training courses are given to all staff on new systems to ensure Continued Professional Development is on going.

The staff are involved in regular team building exercises to create a positive workforce.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

AUDITORS

The auditors,  Haines Watts Liverpool Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

A E Powell - Director

24 July 2025

Opinion

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 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 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.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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 the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Strategic Report and the Report of the Director 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 Report of the Director.

We have nothing to report in respect of the following matters where 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.

Responsibilities of director

As explained more fully in the Statement of Director's Responsibilities set out on pages ten and eleven, 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 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-

Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;

-

Understanding how those charged with governance considered and addressed the potential for override of controls or other

inappropriate influence over the financial reporting process;

-

Reviewing financial statements disclosures and testing to supporting documentation to assess compliance with applicable

law and regulations;

-

Challenging assumptions and judgements made by management in its significant accounting estimates;

-

Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations.

Our audit did not identify any significant matters relating to the detection of irregularities including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

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 Report of the Auditors.

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 a Report of the Auditors 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.

Timothy Cherry, FCCA (Senior Statutory Auditor)

for and on behalf of Haines Watts Liverpool Limited

Pacific Chambers

11-13 Victoria Street

Liverpool

Merseyside

L2 5QQ

25 July 2025

TURNOVER

3

23,952,128

22,864,409

Cost of sales

16,584,633

16,907,277

GROSS PROFIT

7,367,495

5,957,132

Administrative expenses

3,104,079

2,739,666

OPERATING PROFIT

5

4,263,416

3,217,466

Interest receivable and similar income

6

287,360

101,082

4,550,776

3,318,548

Interest payable and similar expenses

7

36

-

PROFIT BEFORE TAXATION

4,550,740

3,318,548

Tax on profit

8

843,609

786,246

PROFIT FOR THE FINANCIAL YEAR

3,707,131

2,532,302

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR

THE YEAR

3,707,131

2,532,302

FIXED ASSETS

Tangible assets

10

2,499,838

1,372,607

CURRENT ASSETS

Stocks

11

3,507,355

2,839,835

Debtors

12

6,379,298

7,497,660

Cash at bank and in hand

1,778,036

1,009,663

11,664,689

11,347,158

CREDITORS

Amounts falling due within one year

13

3,120,341

3,017,844

NET CURRENT ASSETS

8,544,348

8,329,314

TOTAL ASSETS LESS CURRENT

LIABILITIES

11,044,186

9,701,921

PROVISIONS FOR LIABILITIES

14

411,829

244,695

NET ASSETS

10,632,357

9,457,226

CAPITAL AND RESERVES

Called up share capital

15

100

100

Retained earnings

16

10,632,257

9,457,126

SHAREHOLDERS' FUNDS

10,632,357

9,457,226

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

A E Powell - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

100

6,924,824

6,924,924

Changes in equity

Total comprehensive income

-

2,532,302

2,532,302

Balance at 31 December 2023

100

9,457,126

9,457,226

Changes in equity

Dividends

-

(2,532,000

)

(2,532,000

)

Total comprehensive income

-

3,707,131

3,707,131

Balance at 31 December 2024

100

10,632,257

10,632,357

1.

STATUTORY INFORMATION

Swarco Hitex Ltd 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 FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006, including the provisions of the Large and Medium sized Companies and Groups (Accounts and Reports) Regulations 2008.. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Financial Reporting Standard 102 - reduced disclosure exemptions

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

•

the requirements of Section 7 Statement of Cash Flows.

Significant judgements and estimates

Turnover

Tangible fixed assets

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