REGISTERED NUMBER: 02776089 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Solmax Geosynthetics (UK) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J W Heezen

W G Schraa

REGISTERED OFFICE:

39 High Street

Wednesfield

Wolverhampton

West Midlands

WV11 1ST

REGISTERED NUMBER:

02776089 (England and Wales)

AUDITORS:

DKR Audit Services Ltd

Registered Auditor

36 Lichfield Street

Walsall

West Midlands

WS1 1TJ

BANKERS:

HSBC

60 Queen Victoria Street

London

EC4N 4TR

CURRENT ASSETS

Debtors

5

565,605

520,786

Cash at bank

43,984

20,547

609,589

541,333

CREDITORS

Amounts falling due within one year

6

78,132

92,724

NET CURRENT ASSETS

531,457

448,609

TOTAL ASSETS LESS CURRENT LIABILITIES

531,457

448,609

CAPITAL AND RESERVES

Called up share capital

8

50,000

50,000

Retained earnings

481,457

398,609

SHAREHOLDERS' FUNDS

531,457

448,609

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 and authorised for issue by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

W G Schraa - Director

1.	STATUTORY INFORMATION

Solmax Geosynthetics (UK) 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 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.

Related party exemption

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.

Turnover

Turnover represents commissions earned, amounts chargeable in respect of goods supplied and recharges to the company's parent. All turnover is excluding Value Added Tax. Turnover from commissions is recognised when the parent company raises the sales invoices on which the commission is earned.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

It is the policy of the company to contribute to a grouped personal pension plan for selected employees. The assets of the plan are held separately from those of the company. The premiums payable are charged to the profit and loss account. Differences between contributions payable in the year and contributions actually paid are shown within other debtors or other creditors in the balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

763

DEPRECIATION

At 1 January 2024

and 31 December 2024

763

NET BOOK VALUE

At 31 December 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Amounts owed by group undertakings

563,880

514,206

Other debtors

1,725

6,580

565,605

520,786

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

14,413

17,135

Taxation and social security

33,376

45,564

Other creditors

30,343

30,025

78,132

92,724

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

966

5,796

Between one and five years

-

966

966

6,762

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

50,000

Ordinary Shares

£1

50,000

50,000

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

The Report of the Auditors was unqualified.

Stephen Gray BSc. FCA (Senior Statutory Auditor)

for and on behalf of DKR Audit Services Ltd

10.	PARENT AND ULTIMATE PARENT

The company is a 100% subsidiary of Solmax Austria GmbH whose registered office is located at Schachermayerstr. 18, 4021 Linz, Austria.

The largest group in which the results of the company are consolidated is that headed by Groupe Solmax Inc, incorporated in Canada.