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REGISTERED NUMBER: 03025769 (England and Wales)

Strategic Report,

Report of the Directors and

Financial Statements

for the Year Ended

30 June 2025

for

Rockline Industries Limited

Rockline Industries Limited (Registered number: 03025769)

Contents of the Financial Statements

for the Year Ended 30 June 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Statement of Comprehensive Income | 8 |

Balance Sheet | 9 |

Statement of Changes in Equity | 10 |

Cash Flow Statement | 11 |

Notes to the Cash Flow Statement | 12 |

Notes to the Financial Statements | 13 |

Rockline Industries Limited

Company Information

for the Year Ended 30 June 2025

| DIRECTORS: | R Rudolph

| J A Potter

| SECRETARY: | S D G Ellis

| REGISTERED OFFICE: | Heming Road

| Redditch

| Worcestershire

| B98 0DH

| REGISTERED NUMBER: | 03025769 (England and Wales)

| AUDITORS: | Nicklin Accountancy Services Limited

| Church Court

| Stourbridge Road

| Halesowen

| West Midlands

| B63 3TT

Rockline Industries Limited (Registered number: 03025769)

Strategic Report

for the Year Ended 30 June 2025

The directors present their strategic report for the year ended 30 June 2025.

REVIEW OF BUSINESS

The results for the year and financial position of the company are as shown in the annexed financial statements.

Rockline remains committed to a programme of capital investment, its established Continuous Improvement ethos and the further development of its Sourcing and Supply Chain initiatives.

PRINCIPAL RISKS AND UNCERTAINTIES

As the company trades both in the UK and overseas and purchases a large proportion of its raw materials from non-UK locations, it is exposed to foreign exchange risk. The company takes steps to minimise fluctuations in exchange rates through the operation of foreign currency bank accounts.

The company has significant indebtedness to its parent company. However, the company continues to trade actively and there is no immediate issue with liquidity. The directors monitor cash and liquid asset forecasts closely to minimise future liquidity risk and the parent company has confirmed that it views the company as a valuable part of its global wet wipes presence and will therefore continue to support the company.

There are no other material exposures of the company relating to price risk, credit risk and cash flow risk which are material for the assessment of the assets, liabilities, financial position and profit of the company.

SECTION 172(1) STATEMENT

The directors of Rockline Industries Ltd and those of all UK companies must act in accordance with a set of general duties which are detailed in the UK's Companies Act. The directors fulfil their duties partly through a governance framework and delegate day to day decision making to the management team. The directors recognise that such delegation needs to be much more than financial authority. The company's governance structure also covers the values and behaviours expected of the company's employees, the need to foster good business relationships and how the directors look to ensure that the company has a robust system of control.

Details of the company's commitment to foster good business relationships and its employees are included on the Report of the Directors.

KEY PERFORMANCE INDICATORS

The company uses KPI's typical to a manufacturing business to monitor and measure progress. These include monitoring of sales, EBITDA and profit before tax as well as more detailed KPI's such as labour productivity, sales margins and service standards.

Turnover for the year increased by 8.8% from £59.815M to £65.058M and generated an operating profit for the year of £3.635M compared to £2.624M last year.

Net current assets increased from £10.543M to £12.517M and shareholders' funds have increased from £11.330M to £15.465m this year.

Rockline Industries Limited (Registered number: 03025769)

Strategic Report

for the Year Ended 30 June 2025

GREENHOUSE GAS EMISSIONS AND ENERGY CONSUMPTION

The company's greenhouse gas (GHG) emissions and energy consumption for the year ended 30 June 2025 was as follows:

| Baseline -2015 |  | July 2020- June 2021 |  | July 2021- June 2022 |  | July 2022 - June 2023 |  | July 2023- June 2024 |  | July 2024 - June 2025 |

Energy Use |  | Total |  | 2,361,111 |  | 3,611,123 |  | 2,892,222 |  | 2,883,595 |  | 2,882,911 |  | 2,885,381 |

(kWh) |  | Electricity |  | 2,328,901 |  | 2,807,667 |  | 2,763,319 |  | 2,769,315 |  | 2,821,573 |  | 2,820,689 |

| Natural Gas |  | 32,210 |  | 803,456 |  | 128,392 |  | 114,280 |  | 61,338 |  | 64,692 |

GHG Emissions |  | Total |  | 1,171 |  | 818 |  | 670 |  | 559 |  | 596 |  | 597 |

| Electricity |  | 1164 |  | 645 |  | 644 |  | 536 |  | 584 |  | 584 |

| Natural Gas |  | 7 |  | 164 |  | 26 |  | 23 |  | 12 |  | 13 |

Intensity Ratio |  |

kg Co2e / Unit |  |  | 0.256 |  | 0.133 |  | 0.129 |  | 0.094 |  | 0.093 |  | 0.084 |

Sustainability Mission Statement

Rockline will take positive steps to develop environmentally sustainable processes, products, packaging and raw materials throughout the supply chain that will develop long term value for our customers, communities and associates.

Methodologies

Normalization Ration GHG/1000 sheets, kWh/1000 sheets

Onsite Fuels:

Step 1

Emissions factors for reporting year obtained from UK Government GHG Conversion Factors 2023: Condensed Set - updated 28 June 2023

http://www.gov.uk/government/publications/greenhouse-gas-reporting-conversion-factors-2023

Step 2

GHG emissions for reporting year calculated from site gas and electricity usage for the period x respective GHG Conversion factors

Step 3

Intensity ratio (kg Co2e per std unit) calculated from Total GHG emission figure against total standard units (1000 sheets) produced in reporting year.

ON BEHALF OF THE BOARD:

J A Potter - Director

26 August 2025

Rockline Industries Limited (Registered number: 03025769)

Report of the Directors

for the Year Ended 30 June 2025

The directors present their report with the financial statements of the company for the year ended 30 June 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture of wet wipes.

DIVIDENDS

No dividends will be distributed for the year ended 30 June 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2024 to the date of this report.

R Rudolph

J A Potter

ENGAGEMENT WITH EMPLOYEES

The company seeks to ensure that all employees are treated fairly and equally. The company is regularly audited against ethical standards by third party bodies and has had very positive reports at the conclusion of these audits. The company subscribes to the principles of the Ethical Trading Initiative (ETI) base code. The safety of the employees at work is paramount and regular reviews of working conditions are made.

The company maintains regular contact with its staff through a combination of monthly workers representative council meetings supplemented by regular presentations and emails to the staff on all aspects of the business.

The company looks to ensure that skills development is available to as many staff as possible and promotes people internally where possible. This is driven by senior staff to achieve its Attract, Retain, and Develop objective, a key corporate initiative found throughout all levels of the company.

The company endeavours to ensure that as far as possible the training, career development and promotion of disabled persons is the same as for other employees.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS

Rockline fosters and maintains relationships with all stakeholders, associates, customers and suppliers by living our RRITE values which underpin everything we do. The RRITE acronym stands for Respect, Renew, Integrity, Teamwork and Excellence and it is embedded in our culture.

Our suppliers are valued partners and we endeavour to maintain long term partnerships.

We engage with our customers through a wide range of initiatives, ensuring that we not only deliver on their commercial and supply chain needs but also their brand and sustainability strategies. We also receive Customer Scorecards from select customers to get feedback on how our customers perceive us.

Our associates are at the heart of everything we do, and we have ensured that we maintain regular briefings and other engagement initiatives to keep everyone informed of how the business is performing and where it is heading.

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS

The directors of the company who are also stakeholders, delegate day to day management and decision making to the management team. The directors maintain an oversight of the company's performance and ensure that management are acting in accordance with the strategy and plans agreed by them

Rockline Industries Limited (Registered number: 03025769)

Report of the Directors

for the Year Ended 30 June 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

J A Potter - Director

26 August 2025

Report of the Independent Auditors to the Members of

Rockline Industries Limited

Opinion

We have audited the financial statements of Rockline Industries Limited (the 'company') for the year ended 30 June 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, 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 Directors 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 Directors 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 Directors.

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 directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of

Rockline Industries Limited

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are 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 directors determine 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have 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:

We identify and assess risks of material misstatement of the financial statements, whether due to fraud and error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

- the nature of the industry, control environment and business performance;

- results of our enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we have identified having reviewed the company's procedures for complying with laws and regulations and whether they were aware of any instances of non-compliance. The key laws and regulations we considered in this context included the Companies Act 2006.

Our audit procedures in relation to fraud included but were not limited to:

- reviewing balance sheet control accounts to ensure properly reconciled;

- addressing the risks of fraud through management override of controls by performing journal entry testing;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- enquiring with management concerning actual and potential litigation claims.

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.

D P Wright FCA (Senior Statutory Auditor)

for and on behalf of Nicklin Accountancy Services Limited

Church Court

Stourbridge Road

Halesowen

West Midlands

B63 3TT

28 August 2025

Rockline Industries Limited (Registered number: 03025769)

Statement of Comprehensive Income

for the Year Ended 30 June 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 65,057,984 |  | 59,814,924 |  |

Cost of sales | 45,304,529 |  | 42,036,514 |  |

GROSS PROFIT | 19,753,455 |  | 17,778,410 |  |

Distribution costs | 1,873,265 |  | 1,874,749 |  |

Administrative expenses | 14,352,018 |  | 13,193,732 |  |

|  |  | 16,225,283 |  |  |  |  | 15,068,481 |  |

3,528,172 |  | 2,709,929 |  |

Other operating income | 107,645 |  | (86,145 | ) |

OPERATING PROFIT | 5 | 3,635,817 |  | 2,623,784 |  |

Interest payable and similar expenses | 6 | 306,278 |  | 294,602 |  |

PROFIT BEFORE TAXATION | 3,329,539 |  | 2,329,182 |  |

Tax on profit | 7 | - |  | - |  |

PROFIT FOR THE FINANCIAL YEAR | 3,329,539 |  | 2,329,182 |  |

OTHER COMPREHENSIVE INCOME |

Unrealised exchange difference on loan | 805,374 |  | (77,412 | ) |

Income tax relating to other comprehensive income | - |  | - |  |

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX | 805,374 |  | (77,412 | ) |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 4,134,913 |  | 2,251,770 |  |

Rockline Industries Limited (Registered number: 03025769)

Balance Sheet

30 June 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 8 | 12,080,002 |  | 11,086,099 |  |

CURRENT ASSETS

Stocks | 9 | 6,655,098 |  | 4,930,683 |  |

Debtors | 10 | 12,996,739 |  | 14,031,843 |  |

Cash at bank and in hand | 648,698 |  | 1,667 |  |

20,300,535 |  | 18,964,193 |  |

CREDITORS

Amounts falling due within one year | 11 | 7,783,335 |  | 8,421,388 |  |

NET CURRENT ASSETS | 12,517,200 |  | 10,542,805 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 24,597,202 |  | 21,628,904 |  |

CREDITORS

Amounts falling due after more than one year | 12 | 9,131,798 |  | 10,298,413 |  |

NET ASSETS | 15,465,404 |  | 11,330,491 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 40,086,677 |  | 40,086,677 |  |

Share premium | 17 | 230,750 |  | 230,750 |  |

Retained earnings | 17 | (24,852,023 | ) | (28,986,936 | ) |

SHAREHOLDERS' FUNDS | 15,465,404 |  | 11,330,491 |  |

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:

J A Potter - Director

Rockline Industries Limited (Registered number: 03025769)

Statement of Changes in Equity

for the Year Ended 30 June 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 July 2023 | 40,086,677 |  | (31,238,706 | ) | 230,750 |  | 9,078,721 |  |

Changes in equity

Total comprehensive income | - |  | 2,251,770 |  | - |  | 2,251,770 |  |

Balance at 30 June 2024 | 40,086,677 |  | (28,986,936 | ) | 230,750 |  | 11,330,491 |  |

Changes in equity

Total comprehensive income | - |  | 4,134,913 |  | - |  | 4,134,913 |  |

Balance at 30 June 2025 | 40,086,677 |  | (24,852,023 | ) | 230,750 |  | 15,465,404 |  |

Rockline Industries Limited (Registered number: 03025769)

Cash Flow Statement

for the Year Ended 30 June 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 4,255,597 |  | (449,149 | ) |

Interest paid | (306,278 | ) | (294,602 | ) |

Net cash from operating activities | 3,949,319 |  | (743,751 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (2,277,106 | ) | (1,579,007 | ) |

Sale of tangible fixed assets | 15,328 |  | 15,632 |  |

Net cash from investing activities | (2,261,778 | ) | (1,563,375 | ) |

Increase/(decrease) in cash and cash equivalents | 1,687,541 |  | (2,307,126 | ) |

Cash and cash equivalents at beginning of year | 2 | (1,038,843 | ) | 1,268,283 |  |

Cash and cash equivalents at end of year | 2 | 648,698 |  | (1,038,843 | ) |

Rockline Industries Limited (Registered number: 03025769)

Notes to the Cash Flow Statement

for the Year Ended 30 June 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 3,329,539 |  | 2,329,182 |  |

| Depreciation charges | 1,206,905 |  | 1,167,240 |  |

| Loss on disposal of fixed assets | 60,970 |  | 42,306 |  |

| Exchange (loss)/gain on long term loan | 805,374 |  | (77,412 | ) |

| Finance costs | 306,278 |  | 294,602 |  |

5,709,066 |  | 3,755,918 |  |

| (Increase)/decrease in stocks | (1,724,415 | ) | 379,454 |  |

| Decrease/(increase) in trade and other debtors | 1,035,104 |  | (2,992,584 | ) |

| Decrease in trade and other creditors | (764,158 | ) | (1,591,937 | ) |

| Cash generated from operations | 4,255,597 |  | (449,149 | ) |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 30 June 2025

| 30.6.25 |  | 1.7.24

£ | £ |

| Cash and cash equivalents | 648,698 |  | 1,667 |  |

| Bank overdrafts | - |  | (1,040,510 | ) |

648,698 |  | (1,038,843 | ) |

| Year ended 30 June 2024

| 30.6.24 |  | 1.7.23

£ | £ |

| Cash and cash equivalents | 1,667 |  | 1,268,283 |  |

| Bank overdrafts | (1,040,510 | ) | - |  |

(1,038,843 | ) | 1,268,283 |  |

3. | ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

| At 1.7.24 | Cash flow | At 30.6.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,667 |  | 647,031 |  | 648,698 |  |

| Bank overdrafts | (1,040,510 | ) | 1,040,510 |  | - |  |

(1,038,843 | ) | 1,687,541 |  | 648,698 |  |

| Total | (1,038,843 | ) | 1,687,541 |  | 648,698 |  |

Rockline Industries Limited (Registered number: 03025769)

Notes to the Financial Statements

for the Year Ended 30 June 2025

1. | STATUTORY INFORMATION

| Rockline Industries Limited is a private company , 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| 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 requirement of paragraph 33.7.

| Significant judgements and estimates

| The preparation of the financial statements in conformity with generally accepted accounting principles requires the directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results in the future could differ from those estimates. In this regard, the directors believe that there are no critical accounting policies where judgements or estimations are necessarily applied in the financial statements.

| Turnover

| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has been transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

| Tangible fixed assets

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

| Freehold property | - | 2% on cost

| Improvements to property | - | 2% on cost

| Plant and machinery | - | 15% on reducing balance

| Fixtures and fittings | - | 15% on reducing balance

| Computer equipment | - | 33% on cost

| No depreciation is provided on assets in the course of construction since they are maintained to current values until they are complete and brought into use.

| Stocks

| Stocks and work in progress are valued at the lower of cost and net realisable value.

| Cost is defined as the standard cost of raw materials and an appropriate proportion of labour and overheads in the case of work in progress and finished goods. Standard costs are regularly reviewed against actual costs and updated as appropriate. Provision is always made for obsolete and slow moving stock.

| Net realisable value is defined as selling prices less all costs to completion, selling and distribution.

| Taxation

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

Rockline Industries Limited (Registered number: 03025769)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Full provision is made for deferred tax assets and liabilities arising from all timing differences between recognition of gains and losses in the financial statements and recognition in the tax computation.

| A net deferred tax asset is recognised only if it can be regarded as more than likely than not that there will be a suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

| Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

| Research and development

| Expenditure on research and development is written off in the year in which it is incurred.

| Foreign currencies

| The financial statements are presented in Sterling (£) being the currency of the primary economic environment in which the entity operates.

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are recognised in the Income Statement in the period in which they arise. Exchange differences arising on the translation of the long term loan are recognised in other comprehensive income and are not reclassified to profit and loss.

| 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.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| United Kingdom | 32,225,212 |  | 31,171,519 |  |

| Europe | 29,349,682 |  | 27,597,229 |  |

| Rest of the World | 3,483,090 |  | 1,046,176 |  |

65,057,984 |  | 59,814,924 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 12,358,684 |  | 11,138,225 |  |

| Social security costs | 1,233,641 |  | 1,045,456 |  |

| Other pension costs | 466,621 |  | 436,521 |  |

14,058,946 |  | 12,620,202 |  |

Rockline Industries Limited (Registered number: 03025769)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

4. | EMPLOYEES AND DIRECTORS - continued

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Administrative | 20 |  | 20 |  |

| Manufacturing | 341 |  | 323 |  |

361 |  | 343 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | - |  | - |  |

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 238,986 |  | 219,193 |  |

| Depreciation - owned assets | 1,206,908 |  | 1,167,240 |  |

| Loss on disposal of fixed assets | 60,970 |  | 42,306 |  |

| Auditors' remuneration | 12,938 |  | 14,413 |  |

| Exchange(loss)/gain on monetary assets and liabilities | (107,645 | ) | 86,145 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Loan | 306,278 |  | 294,602 |  |

7. | TAXATION

| Analysis of the tax charge

| No liability to UK corporation tax arose for the year ended 30 June 2025 nor for the year ended 30 June 2024.

| Reconciliation of total tax charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 3,329,539 |  | 2,329,182 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 832,385 |  | 582,296 |  |

| Effects of:

| Capital allowances in excess of depreciation | - |  | (28,859 | ) |

| Depreciation in excess of capital allowances | 203,380 |  | - |  |

| Exchange gain/(loss) on loan | 201,344 |  | (19,353 | ) |

| Tax losses utilised/ carried forward | (1,237,109 | ) | (534,084 | ) |

| Total tax charge | - |  | - |  |

Rockline Industries Limited (Registered number: 03025769)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

7. | TAXATION - continued

| Tax effects relating to effects of other comprehensive income |

| 2025 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Unrealised exchange difference on loan | 805,374 |  | - |  | 805,374 |  |

| 2024 |

| Gross |  | Tax |  | Net |

£ | £ | £ |

| Unrealised exchange difference on loan | (77,412 | ) | - |  | (77,412 | ) |

8. | TANGIBLE FIXED ASSETS

| Assets in |  | Improvements

| Freehold |  | course of |  | to

| property |  | construction |  | property

£ | £ | £ |

| COST

| At 1 July 2024 | 3,912,236 |  | 387,843 |  | 3,411,274 |  |

| Additions | - |  | 2,216,367 |  | - |  |

| Disposals | - |  | - |  | (19,033 | ) |

| Transfer of assets | - |  | (1,848,488 | ) | 54,018 |  |

| At 30 June 2025 | 3,912,236 |  | 755,722 |  | 3,446,259 |  |

| DEPRECIATION

| At 1 July 2024 | 2,002,621 |  | - |  | 1,144,916 |  |

| Charge for year | 82,587 |  | - |  | 68,699 |  |

| Eliminated on disposal | - |  | - |  | (9,425 | ) |

| At 30 June 2025 | 2,085,208 |  | - |  | 1,204,190 |  |

| NET BOOK VALUE

| At 30 June 2025 | 1,827,028 |  | 755,722 |  | 2,242,069 |  |

| At 30 June 2024 | 1,909,615 |  | 387,843 |  | 2,266,358 |  |

Rockline Industries Limited (Registered number: 03025769)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

8. | TANGIBLE FIXED ASSETS - continued

| Fixtures |

| Plant and |  | and |  | Computer |

| machinery |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 July 2024 | 17,153,985 |  | 495,769 |  | 391,892 |  | 25,752,999 |  |

| Additions | 60,739 |  | - |  | - |  | 2,277,106 |  |

| Disposals | (1,689,554 | ) | (68,832 | ) | (161,843 | ) | (1,939,262 | ) |

| Transfer of assets | 1,794,470 |  | - |  | - |  | - |  |

| At 30 June 2025 | 17,319,640 |  | 426,937 |  | 230,049 |  | 26,090,843 |  |

| DEPRECIATION

| At 1 July 2024 | 10,689,935 |  | 439,512 |  | 389,916 |  | 14,666,900 |  |

| Charge for year | 1,045,905 |  | 8,351 |  | 1,366 |  | 1,206,908 |  |

| Eliminated on disposal | (1,625,919 | ) | (65,780 | ) | (161,843 | ) | (1,862,967 | ) |

| At 30 June 2025 | 10,109,921 |  | 382,083 |  | 229,439 |  | 14,010,841 |  |

| NET BOOK VALUE

| At 30 June 2025 | 7,209,719 |  | 44,854 |  | 610 |  | 12,080,002 |  |

| At 30 June 2024 | 6,464,050 |  | 56,257 |  | 1,976 |  | 11,086,099 |  |

9. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 4,276,907 |  | 3,132,984 |  |

| Finished goods | 2,378,191 |  | 1,797,699 |  |

6,655,098 |  | 4,930,683 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 11,688,046 |  | 13,284,885 |  |

| Amounts owed by group undertakings | 791,302 |  | 15,174 |  |

| Prepayments and accrued income | 517,391 |  | 731,784 |  |

12,996,739 |  | 14,031,843 |  |

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

2025 | 2024 |

£ | £ |

| Bank loans and overdrafts (see note 13) | - |  | 1,040,510 |  |

| Trade creditors | 5,444,434 |  | 5,348,638 |  |

| Social security and other taxes | 838,145 |  | 621,509 |  |

| Accrued expenses | 1,500,756 |  | 1,410,731 |  |

7,783,335 |  | 8,421,388 |  |

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2025 | 2024 |

£ | £ |

| Loan from holding company | 9,131,798 |  | 10,298,413 |  |

Rockline Industries Limited (Registered number: 03025769)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

12. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

| The loan is interest bearing at 0.1% over the rate of borrowing by the parent company. There are no fixed terms of repayment.

13. | LOANS

| An analysis of the maturity of loans is given below:

2025 | 2024 |

£ | £ |

| Amounts falling due within one year or on demand:

| Bank overdrafts | - |  | 1,040,510 |  |

14. | LEASING AGREEMENTS

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

2025 | 2024 |

£ | £ |

| Within one year | 185,511 |  | 167,688 |  |

| Between one and five years | 398,054 |  | 227,080 |  |

583,565 |  | 394,768 |  |

15. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Bank overdrafts | - |  | 1,040,510 |  |

| Loan from holding company | 9,131,798 |  | 10,298,412 |  |

9,131,798 |  | 11,338,922 |  |

| Rockline Industries Inc.holds a floating debenture in respect of their loan to the company.

| The company has also given a fixed and floating charge over its assets in favour of Wells Fargo Bank N.A.

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 40,086,677 | Ordinary | £1 | 40,086,677 |  | 40,086,677 |  |

17. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 July 2024 | (28,986,936 | ) | 230,750 |  | (28,756,186 | ) |

| Profit for the year | 3,329,539 |  | 3,329,539 |  |

| Exchange difference on loan | 805,374 |  | - |  | 805,374 |  |

| At 30 June 2025 | (24,852,023 | ) | 230,750 |  | (24,621,273 | ) |

Rockline Industries Limited (Registered number: 03025769)

Notes to the Financial Statements - continued

for the Year Ended 30 June 2025

18. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund which amounted to £466,621 (2024: £436,521).

19. | ULTIMATE PARENT COMPANY

| The ultimate parent company by virtue of its controlling interest of Rockline Industries Limited is Rockline Industries Inc, a company incorporated in the United States of America. The company has been included in the group financial statements of Rockline Industries Inc. Copies of these financial statements can be requested from Rockline Industries Inc at PO Box 1007, 4343 S.Taylor Drive, Sheboygan, WI 53082-1007, USA.

20. | CAPITAL COMMITMENTS

2025 | 2024 |

£ | £ |

| Contracted but not provided for in the

| financial statements | 920,275 |  | 1,066,285 |  |

21. | 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.

| During the year, a total of key management personnel compensation of £ 686,648 (2024 - £ 686,264 ) was paid.