REGISTERED NUMBER: 10683572 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DYNAMIC WIPE INDUSTRIES (UK) LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Director

3

Report of the Independent Auditors

4

Income Statement

7

Other 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

DIRECTOR:

Y Nakar

REGISTERED OFFICE:

Harben House

Harben Parade

Finchley Road

London

NW3 6LH

REGISTERED NUMBER:

10683572 (England and Wales)

AUDITORS:

Xeinadin Audit Limited

Chartered Accountants

Statutory Auditors

8th Floor Becket House

36 Old Jewry

London

EC2R 8DD

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

REVIEW OF BUSINESS

Turnover decreased in the current year to £16.51m from £23.49m with the reduction in the customers base.

The results for the year are shown on page 7.

For the year ended 31 December 2024, profitability improved due to global market changes and minimizing costs,including reduced UK office cost and other expenditures. Profit after tax increased from a loss of £29,295 in 2023 to a profit of £42,147 in 2024. This performance is a testament to effective management strategies, improved operational efficiencies, and the execution of a comprehensive business plan.

As of 31 December 2024, the company’s financial position have improved. Net assets have grown from (£39,413) in 2023 to £292 in 2024, driven by a reduction in creditors and overall balance sheet strength. This substantial growth underscores the company’s resilience and provides a robust foundation for future expansion.

The parent company has provided assurance that it will continue to provide financial support as necessary to enable the company to meet its obligations and to fund future growth initiatives.

The company's key financial performance indicators during the year were as follows:

Units

2024

2023

Turnover

£

16,516,381

23,496,085

Cost of Sales

£

15,683,759

23,149,977

Gross Profit

£

832,622

346,108

Profit/(loss) before tax

£

42,147

(29,295)

PRINCIPAL RISKS AND UNCERTAINTIES

The company has identified the loss of any its customers a principal risk. Adverse market conditions and economic uncertainty may affect the company's ability to trade.

The company also has a risk in respect of credit risk from it's lenders and credit risk from customers.

All risks are reviewed and monitored by the Director to ensure their policies meets the objectives of being able to manage these risks.

ON BEHALF OF THE BOARD:

Y Nakar - Director

30 October 2025

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

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2024.

DIRECTOR

Y Nakar held office during the whole of the period from 1 January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is 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 director is required to:

-	select suitable accounting policies and then apply them consistently;

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

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

The director is 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 him to ensure that the financial statements comply with the Companies Act 2006. He is 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 director is 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 he 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.

AUDITORS

The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Y Nakar - Director

30 October 2025

Opinion

We have audited the financial statements of Dynamic Wipe Industries (UK) Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other 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 31 December 2024 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 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 page three, 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:

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

i) Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and distributable profits legislation.

ii) Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include operating licence, environmental regulations, health and safety legislation.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

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.

David Myerson (Senior Statutory Auditor)

for and on behalf of Xeinadin Audit Limited

Chartered Accountants

Statutory Auditors

8th Floor Becket House

36 Old Jewry

London

EC2R 8DD

30 October 2025

TURNOVER

16,516,381

23,496,085

Cost of sales

15,683,759

23,149,977

GROSS PROFIT

832,622

346,108

Administrative expenses

240,772

511,962

591,850

(165,854

)

Other operating income

(100,000

)

267,000

OPERATING PROFIT

4

491,850

101,146

Interest payable and similar expenses

5

449,703

130,441

PROFIT/(LOSS) BEFORE TAXATION

42,147

(29,295

)

Tax on profit/(loss)

6

2,442

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

39,705

(29,295

)

PROFIT/(LOSS) FOR THE YEAR

39,705

(29,295

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

39,705

(29,295

)

CURRENT ASSETS

Stocks

7

5,250,997

4,652,742

Debtors

8

1,786,456

3,315,262

7,037,453

7,968,004

CREDITORS

Amounts falling due within one year

9

7,037,161

8,007,417

NET CURRENT ASSETS/(LIABILITIES)

292

(39,413

)

TOTAL ASSETS LESS CURRENT LIABILITIES

292

(39,413

)

CAPITAL AND RESERVES

Called up share capital

12

1

1

Retained earnings

13

291

(39,414

)

SHAREHOLDERS' FUNDS

292

(39,413

)

The financial statements were approved by the director and authorised for issue on 30 October 2025 and were signed by:

Y Nakar - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2023

1

(10,119

)

(10,118

)

Changes in equity

Total comprehensive income

-

(29,295

)

(29,295

)

Balance at 31 December 2023

1

(39,414

)

(39,413

)

Changes in equity

Total comprehensive income

-

39,705

39,705

Balance at 31 December 2024

1

291

292

Cash flows from operating activities

Cash generated from operations

1

970,296

1,921,629

Interest paid

(449,703

)

(130,441

)

Net cash from operating activities

520,593

1,791,188

Cash flows from financing activities

New loans in year

2,226,649

-

Loan repayments in year

(2,824,223

)

(3,516,938

)

Net cash from financing activities

(597,574

)

(3,516,938

)

Decrease in cash and cash equivalents

(76,981

)

(1,725,750

)

Cash and cash equivalents at beginning of year

2

(3,913,956

)

(2,188,206

)

Cash and cash equivalents at end of year

2

(3,990,937

)

(3,913,956

)

1.	RECONCILIATION OF PROFIT/(LOSS) BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024

2023

£

£

Profit/(loss) before taxation

42,147

(29,295

)

Finance costs

449,703

130,441

491,850

101,146

(Increase)/decrease in stocks

(598,255

)

1,704,963

Decrease in trade and other debtors

1,528,806

923,594

Decrease in trade and other creditors

(452,105

)

(808,074

)

Cash generated from operations

970,296

1,921,629

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 31 December 2024

31.12.24

1.1.24

£

£

Bank overdrafts

(3,990,937

)

(3,913,956

)

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Bank overdrafts

(3,913,956

)

(2,188,206

)

3.	ANALYSIS OF CHANGES IN NET DEBT

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Bank overdrafts

(3,913,956

)

(76,981

)

(3,990,937

)

(3,913,956

)

(76,981

)

(3,990,937

)

Total

(3,913,956

)

(76,981

)

(3,990,937

)

1.	STATUTORY INFORMATION

Dynamic Wipe Industries (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.

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.

The accounts have been prepared on a going concern basis. The parent company has pledged to support the company to be able to pay their debts as they fall due.

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

Stocks

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

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.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other debtors, intercompany balances and cash and bank balances, are initially recognised at transactions price, unless the arrangement constitutes a financing transaction, where transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in the profit and loss account.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, intercompany balances and loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest.

3.	EMPLOYEES AND DIRECTORS

2024

2023

£

£

Wages and salaries

-

43,195

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

2024

2023

Management

1

1

2024

2023

£

£

Director's remuneration

-

-

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Auditors' remuneration

17,020

15,000

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

£

£

Bank interest

449,703

130,441

6.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2024

2023

£

£

Current tax:

UK corporation tax

2,442

-

Tax on profit/(loss)

2,442

-

7.

STOCKS

2024

2023

£

£

Stocks

5,250,997

4,652,742

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,665,199

2,903,677

Other debtors

-

1

Prepayments and accrued income

121,257

411,584

1,786,456

3,315,262

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 10)

3,990,937

3,913,956

Trade creditors

321,284

357,444

Amounts owed to group undertakings

2,226,649

2,824,223

Tax

2,442

-

VAT

478,449

896,794

Accrued expenses

17,400

15,000

7,037,161

8,007,417

Amounts owed to group undertakings are interest free, have no fixed repayment date and are repayable on demand.

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

3,990,937

3,913,956

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

3,990,937

3,913,956

Bank overdrafts are secured by a fixed and floating charge over the assets of the company.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

1

1

1

13.

RESERVES

Retained

earnings

£

At 1 January 2024

(39,414

)

Profit for the year

39,705

At 31 December 2024

291

14.	ULTIMATE CONTROLLING PARTY

The parent undertaking of the smallest group of undertakings for which group financial statements are drawn up and which the company is a member is Dynamic Wipe Industries, whose registered office is at Ha Te'ena st 9, Ashdod, Israel.