Company registration number SC089478 (Scotland)
ROEMEX LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
ROEMEX LIMITED
COMPANY INFORMATION
Directors
G Dickson
P A Wilkie
A Buchan
Secretary
Howie (Scotland) Limited
Company number
SC089478
Registered office
Roemex Building
Badentoy Crescent
Badentoy Industrial Estate
Portlethen
Aberdeen
AB12 4YD
Auditor
Azets Audit Services
37 Albyn Place
Aberdeen
United Kingdom
AB10 1JB
ROEMEX LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Directors' responsibilities statement
5
Independent auditor's report
6 - 8
Group profit and loss account
9
Group statement of comprehensive income
10
Group balance sheet
11
Company balance sheet
12
Group statement of changes in equity
13
Company statement of changes in equity
14
Group statement of cash flows
15
Notes to the financial statements
16 - 37
ROEMEX LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 1 -

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

Principal activities

The principal activity of the group is the manufacture and supply of specialty chemical products and services. The group operates from their headquarters in Scotland servicing a global portfolio of clients in the energy sector. The group strives to be innovative and to develop and manufacture chemical formu l ations that provide solutions to process challenges in the energy sector whilst maintaining its core values of service, integrity, respect, sustainability, expertise and safety.

Review of the business

In the year ended 30 June 2025 the group achieved a turnover of £14.2 m (2024: £14.1m) and a profit before tax of £2.2m (2024: £1.3 m). Net assets at the balance sheet date were £7.2 m (2024: £10m). The results were in line with the expectations of the directors.

Competition

The group has a large client base with which it maintains very good working relationships. There are regular client update meetings which ensure all matters are addressed timeously and client satisfaction is maintained.

Employees

The future success of the group depends on the skills and efforts of our employees and the ability to retain and develop these individuals. The group emphasises accountability and responsibility at the local level and encourages an entrepreneurial approach to running operations. The group constantly reviews its remuneration packages to make sure they remain competitive and maintains development and succession planning programmes.

Suppliers

The group has a wide range of suppliers in order to avoid supply chain disruption.

Regulation

The group is ISO45001, ISO 9001 and ISO14001 accredited and is fully compli a nt with all required safety and environmental regulations.

Key performance indicators

The group uses a range of financial and non-financial metrics, which are reported and reviewed on a regular basis, to monitor the group’s performance over time. These include, but are not limited to, the following:

| 202 5 | 202 4
| £m | £m
Turnover | 14.2 | 1 4.1
Gross profit | 7.4 | 6.3
Gross profit % | 52% | 4 5%
Profit before tax | 2.2 | 1.3

ROEMEX LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 2 -
Principal risks and uncertainties

The group continually monitors the key risks facing the business together with assessing the controls used for managing these risks. The principal risks and uncertainties facing the group are as follows:

Market and economic risk

The energy sector is cyclical and influenced by global events. The long-term trend continues to be toward renewable energy. The group will continue to follow its business model of being a competitive supplier to the oil and gas sector while developing new products to take advantage of renewable energy trends.

Liquidity risk

Short-term and medium-term cash projections identify sufficient funding for ongoing operations and future development from surplus cash held by the group. The group has sufficient cash resources to maintain liquidity for the foreseeable future.

Credit risk

The group’s principal monetary assets are bank balances and trade debtors. Investments of bank balances are made with banks which meet credit rating criteria set by the Board. Trade debtors balances are monitored regularly, and provision is made for doubtful debts where necessary.

Foreign exchange risk

The group’s principal foreign currency risk arises from trading with overseas companies. The group mitigates exposure to foreign currency fluctuations by actively currency hedging through buying and selling foreign currency forward.

Research and development

The group continues to invest in research and development activities as part of its commitment to providing innovative and environmentally responsible chemical solutions to the global energy sector.

The group maintains a fully equipped laboratory and dedicated technical team at its Aberdeen headquarters, supporting product development, client trials, and regulatory testing.

Expenditure on research and development during the year amounted to £0.7 m (2024: £3.2m).

On behalf of the board

P A Wilkie
Director
23 December 2025
ROEMEX LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2025
- 3 -

The directors present their annual report and financial statements for the year ended 30 June 2025.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £4.7m (2024 - £0.3m). The directors do not recommend payment of a further dividend in respect of the year ended 30 June 2025.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

R A Simcox
(Resigned 11 June 2025)
G Dickson
G I Simcox
(Resigned 11 June 2025)
T L D Simcox
(Resigned 11 June 2025)
R G Simcox
(Resigned 11 June 2025)
P A Wilkie
(Appointed 5 June 2025)
A Buchan
(Appointed 11 June 2025)

There was no qualifying third-party indemnity provision in force during the financial year and also at the approval of the financial statements.

Future developments

Following the ownership transition completed during the year, the group will continue to focus on strengthening its position in core markets while pursuing sustainable long-term growth. Investment will be directed towards product innovation, operational efficiency, and enhancements to manufacturing capability to support increasing customer demand.

The group also intends to expand its presence in international markets and to develop further solutions aligned with the ongoing energy transition. Alongside this, the directors will continue to prioritise strong customer relationships, technical excellence, and responsible business practices across all areas of operation.

Auditor

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the group will be put at a General Meeting.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

ROEMEX LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 4 -
Disclosure of information in the strategic report

The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of activities, financial risk management, research and development.

On behalf of the board
P A Wilkie
Director
23 December 2025
ROEMEX LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2025
- 5 -

The directors are responsible for preparing the annual report 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). 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;

- 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.

ROEMEX LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ROEMEX LIMITED
- 6 -
Opinion

We have audited the financial statements of Roemex Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 June 2025 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including 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 group's and the parent company's affairs as at 30 June 2025 and of the group's 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent 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 group's and parent 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

ROEMEX LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ROEMEX LIMITED
- 7 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company 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.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, 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 is 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 parent 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 parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's 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 an auditor's report 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

ROEMEX LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ROEMEX LIMITED
- 8 -

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;

- Reviewing minutes of meetings of those charged with governance;

- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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 an auditor's report 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.

Angus Cowie (Senior Statutory Auditor)
For and on behalf of Azets Audit Services, Statutory Auditor
Chartered Accountants
37 Albyn Place
Aberdeen
AB10 1JB
23 December 2025
ROEMEX LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2025
- 9 -
2025
2024
as restated
Notes
£
£
Turnover
3
14,163,138
14,071,709
Cost of sales
(6,810,602)
(7,724,186)
Gross profit
7,352,536
6,347,523
Administrative expenses
(5,551,255)
(5,176,015)
Other operating income
240,934
29,388
Operating profit
4
2,042,215
1,200,896
Interest receivable and similar income
8
134,594
73,771
Profit before taxation
2,176,809
1,274,667
Tax on profit
9
(379,426)
135,420
Profit for the financial year
1,797,383
1,410,087
Profit for the financial year is all attributable to the owners of the parent company.

The profit and loss account has been prepared on the basis that all operations are continuing operations.

ROEMEX LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2025
- 10 -
2025
2024
as restated
£
£
Profit for the year
1,797,383
1,410,087
Other comprehensive income
Revaluation of tangible fixed assets
-
0
649,445
Currency translation gain taken to retained earnings
31,599
37,737
Other comprehensive (expenditure) / income for the year
31,599
687,182
Total comprehensive income for the year
1,828,982
2,097,269
Total comprehensive income for the year is all attributable to the owners of the parent company.
ROEMEX LIMITED
GROUP BALANCE SHEET
AS AT
30 JUNE 2025
30 June 2025
- 11 -
2025
2024
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
11
5,484
6,590
Tangible assets
12
1,116,103
1,011,469
1,121,587
1,018,059
Current assets
Stocks
15
2,365,261
1,993,653
Debtors
17
5,437,809
5,373,057
Cash at bank and in hand
2,870,710
4,836,541
10,673,780
12,203,251
Creditors: amounts falling due within one year
18
(4,162,858)
(2,755,553)
Net current assets
6,510,922
9,447,698
Total assets less current liabilities
7,632,509
10,465,757
Creditors: amounts falling due after more than one year
19
(375,675)
(361,984)
Provisions for liabilities
Deferred tax liability
20
38,231
54,878
(38,231)
(54,878)
Net assets
7,218,603
10,048,895
Capital and reserves
Called up share capital
22
7,519
7,519
Share premium account
84,092
84,092
Revaluation reserve
649,445
649,445
Capital redemption reserve
18,745
18,745
Profit and loss reserves
6,458,802
9,289,094
Total equity
7,218,603
10,048,895

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 23 December 2025 and are signed on its behalf by:
23 December 2025
P A Wilkie
Director
Company registration number SC089478 (Scotland)
ROEMEX LIMITED
COMPANY BALANCE SHEET
AS AT 30 JUNE 2025
30 June 2025
- 12 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
5,484
6,590
Tangible assets
12
1,115,077
1,009,847
Investments
13
8,721
8,721
1,129,282
1,025,158
Current assets
Stocks
15
2,365,261
1,993,653
Debtors
17
5,241,679
5,048,815
Cash at bank and in hand
2,795,359
4,664,069
10,402,299
11,706,537
Creditors: amounts falling due within one year
18
(4,371,310)
(2,347,209)
Net current assets
6,030,989
9,359,328
Total assets less current liabilities
7,160,271
10,384,486
Provisions for liabilities
Deferred tax liability
20
38,231
54,878
(38,231)
(54,878)
Net assets
7,122,040
10,329,608
Capital and reserves
Called up share capital
22
7,519
7,519
Share premium account
84,092
84,092
Revaluation reserve
649,445
649,445
Capital redemption reserve
18,745
18,745
Profit and loss reserves
6,362,239
9,569,807
Total equity
7,122,040
10,329,608

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The company's profit for the year was £1,451,706 (2024: £1,696,939).

The financial statements were approved by the board of directors and authorised for issue on 23 December 2025 and are signed on its behalf by:
23 December 2025
P A Wilkie
Director
Company registration number SC089478 (Scotland)
ROEMEX LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 13 -
Share capital
Share premium account
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 July 2023
7,519
84,092
-
0
18,745
8,141,270
8,251,626
Year ended 30 June 2024: - as restated
Profit for the year - as restated
-
-
-
-
1,410,087
1,410,087
Other comprehensive income:
Revaluation of tangible fixed assets
-
-
649,445
-
-
649,445
Currency translation differences - as restated
-
-
-
-
37,737
37,737
Total comprehensive income - as restated
-
-
649,445
-
1,447,824
2,097,269
Dividends
10
-
-
-
-
(300,000)
(300,000)
Balance at 30 June 2024: - as restated
7,519
84,092
649,445
18,745
9,289,094
10,048,895
Year ended 30 June 2025:
Profit for the year
-
-
-
-
1,797,383
1,797,383
Other comprehensive income:
Currency translation differences
-
-
-
-
31,599
31,599
Total comprehensive income
-
-
-
-
1,828,982
1,828,982
Dividends
10
-
-
-
-
(4,659,274)
(4,659,274)
Balance at 30 June 2025
7,519
84,092
649,445
18,745
6,458,802
7,218,603
ROEMEX LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2025
- 14 -
Share capital
Share premium account
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 July 2023
7,519
84,092
-
0
18,745
8,172,868
8,283,224
Year ended 30 June 2024:
Profit for the year
-
-
-
-
1,696,939
1,696,939
Other comprehensive income:
Revaluation of tangible fixed assets
-
-
649,445
-
-
649,445
Total comprehensive income
-
-
649,445
-
1,696,939
2,346,384
Dividends
10
-
-
-
-
(300,000)
(300,000)
Balance at 30 June 2024
7,519
84,092
649,445
18,745
9,569,807
10,329,608
Year ended 30 June 2025:
Profit and total comprehensive income
-
-
-
-
1,451,706
1,451,706
Dividends
10
-
-
-
-
(4,659,274)
(4,659,274)
Balance at 30 June 2025
7,519
84,092
649,445
18,745
6,362,239
7,122,040
ROEMEX LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2025
- 15 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
2,677,374
3,437,343
Income taxes refunded/(paid)
91,352
(60,510)
Net cash inflow from operating activities
2,768,726
3,376,833
Investing activities
Purchase of tangible fixed assets
(205,128)
(123,952)
Repayment of loans
63,652
-
Interest received
134,594
73,771
Net cash used in investing activities
(6,882)
(50,181)
Financing activities
Repayment of borrowings
(100,000)
-
Dividends paid to equity shareholders
(4,659,274)
(300,000)
Net cash used in financing activities
(4,759,274)
(300,000)
Net (decrease)/increase in cash and cash equivalents
(1,997,430)
3,026,652
Cash and cash equivalents at beginning of year
4,836,541
1,772,156
Effect of foreign exchange rates
31,599
37,733
Cash and cash equivalents at end of year
2,870,710
4,836,541
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2025
- 16 -
1
Accounting policies
Company information

Roemex Limited (“the company”) is a private limited company domiciled and incorporated in Scotland. The registered office is Roemex Building, Badentoy Crescent, Badentoy Industrial Estate, Portlethen, AB12 4YD.

The group consists of Roemex Limited and all of its subsidiaries.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

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

The financial statements have been prepared under the historical cost convention, except for freehold land and buildings which are measured at their revalued amounts. Freehold properties are initially recognized at cost and subsequently carried at fair value based on periodic revaluations by qualified valuers. Revaluation increases are recognized in other comprehensive income and credited to the revaluation reserve within equity. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: The disclosure requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b), 11.48(c), 12.26, 12.27, 12.29(a), 12.29(b), and 12.29A;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

- Section 33.10A ‘Related Party Disclosures’: D isclosing related party transactions and balances with other wholly owned members of the group.

The financial statements of the company are consolidated in the financial statements of Roemex Limited. These consolidated financial statements are available from its registered office, Roemex Building, Badentory Crescent, Badentory Industrial Estate, Portlethen, AB12 4YD.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 17 -
1.2
Prior period error

After the submission of the prior period accounts, it was established that an End Of Service Benefit (EOSB) liability should have been recognised within subsiduary entity Roemex Services DMCC.

As a result, the financial statements have been restated to reflect the consolidated financial position and performance of the group including the EOSB liability. The group financial statements for the year ended 3 0 June 202 5 include consolidated figures for the current and comparative periods.

Impact on Consolidated Balance Sheet – Year Ended 30 June 2024

Balance Sheet Heading | 30 Jun 202 4 (£) |
Increase in fixed assets | - |
Increase in current assets | - |
Increase in current liabilities | - |
Increase in non-current liabilities | 361,984 |
Decrease in net assets | (361,984) |

Impact on Consolidated Income Statement – Year Ended 30 June 2024

Income Statement Heading | Reported (£) | Restatement (£) | Restated (£)
Revenue | 1 4,071,709 | - | 14,071,709
Cost of sales | (7,724,186) | - | (7,724,186)
Gross profit | 6,347,523 | - | 6,347,523
Administrative expenses | (4,812,576) | (363,439) | (5,176,015)
Other operating income | 2 9,388 | - | 2 9,388
Operating profit | 1,564,335 | (363,439) | 1,200,896
Interest receivable | 73,771 | - | 73,771
Profit before tax | 1,638,106 | (363,439) | 1,274,667
Tax on profit | 135,420 | - | 135,420
Profit for the financial year Other comprehensive income: Revaluation of tangible fixed assets Currency translation gain Total comprehensive income | 1,773,526 649,445 36,282 2,459,253 | (363,439) - 1,455 (361,984) | 1,410,087 649,445 37,737 2,097,269

These adjustments relate to the inclusion of the EOSB liabilit y and related pension costs of Roemex Services DMCC on a line-by-line basis. Intercompany balances have been eliminated on consolidation.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 18 -
1.3
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

1.4
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Roemex Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 30 June 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.5
Going concern

As part of their consideration of going concern the directors have reviewed the group's future cash flow forecasts and profit projections which are based on internal information and recent experience.

Based on their assessment of the group's prospects and viability the directors have formed a judgement, at the time of approving the financial statements, that there are no material uncertainties that cast doubt on the company's going concern status and that there is a reasonable expectation that the group has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements. The directors therefore consider it appropriate to adopt the going concern basis of accounting in preparing its financial statements.

1.6
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue arising from the provision of services is recognised in the accounting period in which the services are rendered, typically based on a day rate for manpower provided to customer.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 19 -
1.7
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents and licences
10% on cost
1.8
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Freehold l and and buildings are stated at revalued amounts effective from 1 July 2023, being fair value at the date of revaluation. Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from fair value. Increases in value are recognised in other comprehensive income and accumulated in a revaluation reserve. Other classes of tangible assets are stated at cost less accumulated depreciation and impairment.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% straight line on cost
Plant and machinery
25% straight line on cost
Fixtures and fittings
25% straight line on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.9
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the group has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 20 -
1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.12
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 21 -
1.13
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. 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 asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 22 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value th r ough profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.14
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 23 -
1.15
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.16
Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.17
Employee benefits

The group provides a range of benefits to employees, including paid holiday arrangements and defined contribution pension plans.

i) Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

ii) Defined contribution pension plans

Contributions to the personal defined contribution pension schemes of certain employees are charged to the statement of comprehensive income as incurred. In addition, the group contributes to a self-administered

defined contribution pension scheme, the assets of which are held separately from those of the group, for the benefit of the director. Contributions of which are charged to the statement of comprehensive income as incurred.

iii) End Of Service Benefit (EOSB)

EOSB payable to employees under the UAE Labour Law is treated as a ccrued pension liability. The cost of providing this benefit is recognised in the statement of comprehensive income over the period of employment.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
1
Accounting policies
(Continued)
- 24 -
1.18
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.19
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Valuation of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of the trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Valuation of stock

Management have made informed judgements based on historic experience to enable them to make an accurate provision for slow-moving stock. The provision is sensitive to the life cycles of products and the time it takes for these to become obsolete. Management re-assess their obsolescence period regulary to ensure this fairly represents the recoverability of older stock.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 25 -
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Sale of goods
13,900,335
13,897,490
Rendering of services
262,803
174,219
14,163,138
14,071,709
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
3,554,874
3,400,925
Overseas
10,608,264
10,670,784
14,163,138
14,071,709
2025
2024
£
£
Other revenue
Interest income
134,594
73,771
Grants received
26,533
29,388
Insurance claims receivable
77,936
-
R&D tax credit
136,465
-
4
Operating profit
2025
2024
as restated
£
£
Operating profit for the year is stated after charging/(crediting):
Exchange losses
125,465
2,845
Research and development costs
682,323
3,204,432
Government grants
(26,533)
(29,388)
Fees payable to the group's auditor for the audit of the group's financial statements
32,000
33,750
Depreciation of owned tangible fixed assets
100,494
98,744
Amortisation of intangible assets
1,106
1,106
Operating lease charges
142,674
127,252
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 26 -
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
32,000
33,750
Audit of the financial statements of the company's subsidiaries
13,650
24,900
45,650
58,650
For other services
All other non-audit services
64,128
2,250
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Direct staff
21
18
20
18
Administrative staff
23
22
21
19
Total
44
40
41
37

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
As restated
£
£
£
£
Wages and salaries
3,996,902
3,073,880
3,533,596
2,016,520
Social security costs
347,053
222,260
347,053
222,260
Pension costs
212,756
473,955
168,132
110,516
4,556,711
3,770,095
4,501,927
2,349,296

Pension commitments

The group makes contributions to the personal defined contribution pension scheme of certain employees. The scheme is administered independently of the group. The total pension cost that is charged against profit represents contributions payable by the group in respect of the scheme and amounted to £0.1m (2024: £0.1m). As at the balance sheet date the accrued pension contributions were £nil (2024: £nil).

Roemex Service DMCC, a wholly owned subsidiary, recorded a liability of £0.4m in the current year (2024: £0.4m). This represents benefits payable under UAE labour law (Note 1 9).

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 27 -
7
Directors' remuneration
2025
2024
As restated
£
£
Remuneration for qualifying services
1,874,264
914,275
Company pension contributions to defined contribution schemes
982
-
Company pension contributions to accrued pension
18,636
234,241
1,893,882
1,148,516
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2025
2024
As restated
£
£
Remuneration for qualifying services
1,725,230
786,387
Company pension contributions to accrued pension
18,636
234,241

At the year end 2 directors (2024: 1) had retirement benefits accruing under EOSB. The total accrued pension for these directors was £0.3m (2024: £0.2m).

8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
117,717
73,771
Other interest income
16,877
-
Interest receivable and similar income
134,594
73,771
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 28 -
9
Taxation
2025
2024
as restated
£
£
Current tax
UK corporation tax on profits for the current period
842,696
370,709
Adjustments in respect of prior periods
(497,957)
(497,284)
Total UK current tax
344,739
(126,575)
Foreign current tax on profits for the current period
51,334
-
0
Total current tax
396,073
(126,575)
Deferred tax
Origination and reversal of timing differences
(16,647)
(8,845)
Total tax charge/(credit)
379,426
(135,420)

The main rate of corporation tax increased from 19% to 25% on 1 April 2023. This increase in rate will have an impact on the company's future tax charges. The company's deferred tax balances as at 30 June 2025 have been calculated based on the rate of 25%.

The actual charge/(credit) for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
as restated
£
£
Profit before taxation
2,176,809
1,274,667
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
544,202
318,667
Tax effect of expenses that are not deductible in determining taxable profit
375,627
-
0
Adjustments in respect of prior years
(497,957)
(497,284)
Permanent capital allowances in excess of depreciation
-
0
(6,805)
Effect of overseas tax rates
(73,902)
-
0
Deferred tax adjustments in respect of prior years
7,485
-
0
Foreign exchange differences
14
-
0
Provisions tax adjustment
-
0
(12,927)
Fixed asset timing differences
8,045
-
0
Foreign taxation
23,956
-
0
Deferred tax not recognised
-
0
82,015
(Over)/under provision
-
(19,086)
Chargeable gains/(losses)
(8,044)
-
Taxation charge/(credit)
379,426
(135,420)
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 29 -
10
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Declared in the year
4,659,274
300,000
11
Intangible fixed assets
Group
Patents and licences
£
Cost
At 1 July 2024 and 30 June 2025
11,060
Amortisation and impairment
At 1 July 2024
4,470
Amortisation charged for the year
1,106
At 30 June 2025
5,576
Carrying amount
At 30 June 2025
5,484
At 30 June 2024
6,590
Company
Patents and licences
£
Cost
At 1 July 2024 and 30 June 2025
11,060
Amortisation and impairment
At 1 July 2024
4,470
Amortisation charged for the year
1,106
At 30 June 2025
5,576
Carrying amount
At 30 June 2025
5,484
At 30 June 2024
6,590
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 30 -
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold improvements
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
£
Cost or valuation
At 1 July 2024
750,000
348,324
435,357
229,825
1,763,506
Additions
171,059
-
0
34,169
-
0
205,228
Disposals
-
0
-
0
(17,832)
(4,196)
(22,028)
Exchange adjustments
-
0
-
0
-
0
(530)
(530)
At 30 June 2025
921,059
348,324
451,694
225,099
1,946,176
Depreciation and impairment
At 1 July 2024
-
0
348,324
217,916
185,797
752,037
Depreciation charged in the year
-
0
-
0
85,479
15,015
100,494
Eliminated in respect of disposals
-
0
-
0
(17,832)
(4,196)
(22,028)
Exchange adjustments
-
0
-
0
-
0
(430)
(430)
At 30 June 2025
-
0
348,324
285,563
196,186
830,073
Carrying amount
At 30 June 2025
921,059
-
0
166,131
28,913
1,116,103
At 30 June 2024
750,000
-
0
217,441
44,028
1,011,469
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
12
Tangible fixed assets
(Continued)
- 31 -
Company
Freehold land and buildings
Leasehold improvements
Plant and machinery
Fixtures and fittings
Total
£
£
£
£
£
Cost or valuation
At 1 July 2024
750,000
348,324
435,357
223,072
1,756,753
Additions
171,059
-
0
34,169
-
0
205,228
Disposals
-
0
-
0
(17,832)
(4,196)
(22,028)
At 30 June 2025
921,059
348,324
451,694
218,876
1,939,953
Depreciation and impairment
At 1 July 2024
-
0
348,324
217,916
180,666
746,906
Depreciation charged in the year
-
0
-
0
85,479
14,519
99,998
Eliminated in respect of disposals
-
0
-
0
(17,832)
(4,196)
(22,028)
At 30 June 2025
-
0
348,324
285,563
190,989
824,876
Carrying amount
At 30 June 2025
921,059
-
0
166,131
27,887
1,115,077
At 30 June 2024
750,000
-
0
217,441
42,406
1,009,847

Freehold land and buildings were revalued at 31 October 2024 by FG Burnett, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties. The directors consider this to be an accurate market value of the investment Freehold Properties at 30 June 2025

The following asse t s are carried at valuation. If the assets were measured using the historical cost model rather than a valuation model, the carrying amounts would be as follows:

Freehold land and buildings
2025
2024
£
£
Group
Cost
611,118
611,118
Accumulated depreciation
(522,786)
(510,564)
Carrying value
88,332
100,554
Company
Cost
611,118
611,118
Accumulated depreciation
(522,786)
(510,564)
Carrying value
88,332
100,554
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 32 -
13
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
8,721
8,721
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 July 2024 and 30 June 2025
8,721
Carrying amount
At 30 June 2025
8,721
At 30 June 2024
8,721
14
Subsidiaries

Details of the company's subsidiaries at 30 June 2025 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
Roemex B.V.
1
Ordinary
100.00
Roemex Services DMCC
2
Ordinary
100.00

Registered office addresses (all UK unless otherwise indicated):

1
The Mark, Fascinatio Boulevard 216-220 3065 WB Rotterdam, Netherlands
2
Unit 318, DMCC Business Centre, Level 5, Jewellery & Gemplex 2, Dubai, UAE
15
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Raw materials, consumables and finished goods
2,365,261
1,993,653
2,365,261
1,993,653

There is no material difference between carrying value of stock and its replacement cost.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 33 -
16
Financial instruments
Group
Company
2025
2024
2025
2024
as restated
£
£
£
£
Carrying amount of financial assets
Debt instruments measured at amortised cost
7,506,512
8,992,309
7,280,585
8,616,638
Instruments measured at fair value through profit or loss
149,642
-
149,642
-
Carrying amount of financial liabilities
Measured at amortised cost
(2,840,419)
(3,486,413)
(3,078,493)
(2,258,248)
As at 30 June 2025 Roemex Limited held six forward contracts with Virgin Money to sell $1,800,000 and buy £1,461,474 after the year-end. The fair value of the contracts at the balance sheet date is a gain of £149,642, which has been recognised through the profit and loss.
The fair value of the forward contract is determined by calculating the difference between the exchange rate agreed upon in the forward contract and the spot exchange at the balance sheet date. This calculation reflects the movement in the USD/GBP exchange rate from the contract's initiation to the reporting date, based on the spot rate used by the company for financial reporting purposes.
17
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
4,232,753
3,882,455
4,149,766
3,882,455
Amounts owed by group undertakings
209,484
-
298,580
17,111
Other debtors
649,375
972,973
484,899
735,160
Prepayments and accrued income
346,197
517,629
308,434
414,089
5,437,809
5,373,057
5,241,679
5,048,815

Included within Other Debtors is a Corporation Tax Credit of £nil (2024: £725k).

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 34 -
18
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
£
£
£
£
Trade creditors
736,228
1,145,149
735,932
1,135,587
Amounts owed to group undertakings
-
0
-
0
271,049
237,796
Corporation tax payable
576,855
89,430
547,233
88,961
Other taxation and social security
817,305
84,262
817,305
84,262
Other creditors
51,334
100,000
51,334
100,000
Accruals and deferred income
1,981,136
1,336,712
1,948,457
700,603
4,162,858
2,755,553
4,371,310
2,347,209

The bank holds a fixed and floating charge over the assets of the company. In addition, a former shareholder holds a floating charge over all property and undertakings of the company.

19
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
As restated
£
£
£
£
Accruals and deferred income
375,675
361,984
-
0
-
0

The recorded liability represents benefits payable under UAE labour law.

20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
38,231
54,878
Liabilities
Liabilities
2025
2024
Company
£
£
Accelerated capital allowances
38,231
54,878
ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
20
Deferred taxation
(Continued)
- 35 -
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 July 2024
54,878
54,878
Credit to profit or loss
(16,647)
(16,647)
Liability at 30 June 2025
38,231
38,231

21
Retirement benefit schemes
2025
2024
As restated
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
168,132
110,516

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
7,519
4,905
7,519
4,905
G Ordinary of £1 each
-
1,341
-
1,341
H Ordinary of £1 each
-
84
-
84
S Ordinary of £1 each
-
1,189
-
1,189
7,519
7,519
7,519
7,519

On 11 June 2025, 1,341 G Ordinary shares of £1 each, 84 H Ordinary shares of £1 each, and 1,189 S Ordinary shares of £1 each were redesignated as 2,614 Ordinary shares of £1 each.

On 11 June 2025 there was a management buy-out of Roemex Limited, wherein members of senior management acquired 100% of the share capital of the company through Roemex Holdings Limited.

All shares rank pari passu.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 36 -
23
Operating lease commitments

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Within one year
81,237
82,844
81,237
82,844
Between two and five years
26,822
107,500
26,822
107,500
108,059
190,344
108,059
190,344
24
Capital commitments

Amounts contracted for but not provided in the financial statements:

Group
Company
2025
2024
2025
2024
£
£
£
£
Acquisition of tangible fixed assets
42,765
-
-
-
25
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2025
2024
as restated
£
£
Group
Aggregate compensation
2,045,156
1,504,564

Key management personnel comprise the directors and senior managers who have authority and responsibility for planning, directing, and controlling the activities of the group.

Transactions with related parties

As at 30 June 2025 the group were due from Roemex Holdings Limited £0.2m (2024: £nil). The loan is unsecured, interest free and repayable on demand.

26
Directors' transactions

The director's received a salary and other short term benefits in the year to 30 June 2025 of £1,894k (2024: £1,149k) through group companies as disclosed in note 7.

As at 30 June 2025 the group was due from the directors £156,685 (2024: £120,337). During the year the group made payments to directors of £100,000 (2024: £100,000) and the directors made repayments of £63,652 (2024: £nil). All loans are unsecured, interest free and repayable on demand.

ROEMEX LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2025
- 37 -
27
Controlling party

At the balance sheet date, Roemex Holdings Limited is the ultimate parent company in the Group and the ultimate controlling parties are G W Dickson and P Wilkie.

Roemex Limited is the parent undertaking of the smallest and largest group to prepare consolidated financial statements.

As Roemex Holdings Limited's first set of accounts are to be prepared to 20 June 2025, it has not been included in the group consolidation. Therefore, Roemex Limited has prepared consolidated financial statements as parent of the group for the year to 30 June 2025.

28
Cash generated from group operations
2025
2024
£
£
Profit after taxation
1,797,383
1,410,087
Adjustments for:
Taxation charged/(credited)
379,426
(135,420)
Investment income
(134,594)
(73,771)
Amortisation and impairment of intangible assets
1,106
1,106
Depreciation and impairment of tangible fixed assets
100,494
98,744
Pension scheme non-cash movement
13,691
361,984
Movements in working capital:
(Increase)/decrease in stocks
(371,608)
156,015
(Increase)/decrease in debtors
(128,404)
604,825
Increase in creditors
1,019,880
1,013,773
Cash generated from operations
2,677,374
3,437,343
29
Analysis of changes in net funds - group
1 July 2024
Cash flows
Exchange rate movements
30 June 2025
£
£
£
£
Cash at bank and in hand
4,836,541
(1,997,430)
31,599
2,870,710
2025-06-30 2024-07-01 false false CCH Software CCH Accounts Production 2025.300 R A Simcox G Dickson G I Simcox T L D Simcox R G Simcox P A Wilkie A Buchan Howie (Scotland) Limited false SC089478 bus:Consolidated 2024-07-01 2025-06-30 SC089478 2024-07-01 2025-06-30 SC089478 bus:Director2 2024-07-01 2025-06-30 SC089478 bus:Director6 2024-07-01 2025-06-30 SC089478 bus:Director7 2024-07-01 2025-06-30 SC089478 bus:CompanySecretary1 2024-07-01 2025-06-30 SC089478 bus:Director1 2024-07-01 2025-06-30 SC089478 bus:Director3 2024-07-01 2025-06-30 SC089478 bus:Director4 2024-07-01 2025-06-30 SC089478 bus:Director5 2024-07-01 2025-06-30 SC089478 bus:RegisteredOffice 2024-07-01 2025-06-30 SC089478 bus:Consolidated 2025-06-30 SC089478 bus:Consolidated 2023-07-01 2024-06-30 SC089478 2023-07-01 2024-06-30 SC089478 core:RevaluationReserve bus:Consolidated 2023-07-01 2024-06-30 SC089478 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2023-07-01 2024-06-30 SC089478 2025-06-30 SC089478 bus:Consolidated 2024-06-30 SC089478 2024-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar bus:Consolidated 2025-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar bus:Consolidated 2024-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar 2025-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2025-06-30 SC089478 core:LeaseholdImprovements bus:Consolidated 2025-06-30 SC089478 core:PlantMachinery bus:Consolidated 2025-06-30 SC089478 core:FurnitureFittings bus:Consolidated 2025-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-06-30 SC089478 core:LeaseholdImprovements bus:Consolidated 2024-06-30 SC089478 core:PlantMachinery bus:Consolidated 2024-06-30 SC089478 core:FurnitureFittings bus:Consolidated 2024-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets 2025-06-30 SC089478 core:LeaseholdImprovements 2025-06-30 SC089478 core:PlantMachinery 2025-06-30 SC089478 core:FurnitureFittings 2025-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 SC089478 core:LeaseholdImprovements 2024-06-30 SC089478 core:PlantMachinery 2024-06-30 SC089478 core:FurnitureFittings 2024-06-30 SC089478 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2025-06-30 SC089478 core:CurrentFinancialInstruments bus:Consolidated 2024-06-30 SC089478 core:ShareCapital bus:Consolidated 2025-06-30 SC089478 core:ShareCapital bus:Consolidated 2024-06-30 SC089478 core:SharePremium bus:Consolidated 2025-06-30 SC089478 core:SharePremium bus:Consolidated 2024-06-30 SC089478 core:RevaluationReserve bus:Consolidated 2025-06-30 SC089478 core:RevaluationReserve bus:Consolidated 2024-06-30 SC089478 core:CapitalRedemptionReserve bus:Consolidated 2025-06-30 SC089478 core:CapitalRedemptionReserve bus:Consolidated 2024-06-30 SC089478 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2025-06-30 SC089478 core:RetainedEarningsAccumulatedLosses bus:Consolidated 2024-06-30 SC089478 core:ShareCapital 2025-06-30 SC089478 core:ShareCapital 2024-06-30 SC089478 core:SharePremium 2025-06-30 SC089478 core:SharePremium 2024-06-30 SC089478 core:RevaluationReserve 2025-06-30 SC089478 core:RevaluationReserve 2024-06-30 SC089478 core:CapitalRedemptionReserve 2025-06-30 SC089478 core:CapitalRedemptionReserve 2024-06-30 SC089478 core:RetainedEarningsAccumulatedLosses 2025-06-30 SC089478 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC089478 core:ShareCapital bus:Consolidated 2023-06-30 SC089478 core:SharePremium bus:Consolidated 2023-06-30 SC089478 core:RevaluationReserve bus:Consolidated 2023-06-30 SC089478 core:CapitalRedemptionReserve bus:Consolidated 2023-06-30 SC089478 2023-06-30 SC089478 core:ShareCapital 2023-06-30 SC089478 core:SharePremium 2023-06-30 SC089478 core:RevaluationReserve 2023-06-30 SC089478 core:CapitalRedemptionReserve 2023-06-30 SC089478 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC089478 bus:Consolidated 2023-06-30 SC089478 core:IntangibleAssetsOtherThanGoodwill 2024-07-01 2025-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar 2024-07-01 2025-06-30 SC089478 core:LeaseholdImprovements 2024-07-01 2025-06-30 SC089478 core:PlantMachinery 2024-07-01 2025-06-30 SC089478 core:FurnitureFittings 2024-07-01 2025-06-30 SC089478 core:UKTax bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:UKTax bus:Consolidated 2023-07-01 2024-06-30 SC089478 core:ForeignTax bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:ForeignTax bus:Consolidated 2023-07-01 2024-06-30 SC089478 bus:Consolidated 1 2024-07-01 2025-06-30 SC089478 bus:Consolidated 1 2023-07-01 2024-06-30 SC089478 bus:Consolidated 2 2024-07-01 2025-06-30 SC089478 bus:Consolidated 2 2023-07-01 2024-06-30 SC089478 bus:Consolidated 3 2024-07-01 2025-06-30 SC089478 bus:Consolidated 3 2023-07-01 2024-06-30 SC089478 bus:Consolidated 4 2024-07-01 2025-06-30 SC089478 bus:Consolidated 4 2023-07-01 2024-06-30 SC089478 bus:Consolidated 5 2024-07-01 2025-06-30 SC089478 bus:Consolidated 5 2023-07-01 2024-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar bus:Consolidated 2024-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar 2024-06-30 SC089478 core:PatentsTrademarksLicencesConcessionsSimilar bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-06-30 SC089478 core:LeaseholdImprovements bus:Consolidated 2024-06-30 SC089478 core:PlantMachinery bus:Consolidated 2024-06-30 SC089478 core:FurnitureFittings bus:Consolidated 2024-06-30 SC089478 bus:Consolidated 2024-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 SC089478 core:LeaseholdImprovements 2024-06-30 SC089478 core:PlantMachinery 2024-06-30 SC089478 core:FurnitureFittings 2024-06-30 SC089478 2024-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:LeaseholdImprovements bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:PlantMachinery bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:FurnitureFittings bus:Consolidated 2024-07-01 2025-06-30 SC089478 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 SC089478 core:Subsidiary1 2024-07-01 2025-06-30 SC089478 core:Subsidiary2 2024-07-01 2025-06-30 SC089478 core:Subsidiary1 1 2024-07-01 2025-06-30 SC089478 core:Subsidiary2 2 2024-07-01 2025-06-30 SC089478 core:CurrentFinancialInstruments bus:Consolidated 2025-06-30 SC089478 core:CurrentFinancialInstruments 2025-06-30 SC089478 core:CurrentFinancialInstruments 2024-06-30 SC089478 core:CurrentFinancialInstruments bus:Consolidated 1 2025-06-30 SC089478 core:CurrentFinancialInstruments bus:Consolidated 1 2024-06-30 SC089478 core:CurrentFinancialInstruments 2 2025-06-30 SC089478 core:CurrentFinancialInstruments 3 2025-06-30 SC089478 core:CurrentFinancialInstruments core:WithinOneYear bus:Consolidated 2024-06-30 SC089478 core:CurrentFinancialInstruments core:WithinOneYear 2025-06-30 SC089478 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC089478 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2025-06-30 SC089478 core:Non-currentFinancialInstruments core:AfterOneYear bus:Consolidated 2024-06-30 SC089478 core:Non-currentFinancialInstruments core:AfterOneYear 2025-06-30 SC089478 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 SC089478 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 SC089478 bus:FRS102 2024-07-01 2025-06-30 SC089478 bus:Audited 2024-07-01 2025-06-30 SC089478 bus:ConsolidatedGroupCompanyAccounts 2024-07-01 2025-06-30 SC089478 bus:FullAccounts 2024-07-01 2025-06-30 xbrli:pure xbrli:shares iso4217:GBP