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REGISTERED NUMBER: 02481673 (England and Wales)

| Strategic Report, Report of the Directors and |

| Audited Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Univolt (UK) Limited |

Univolt (UK) Limited (Registered number: 02481673)

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 5 |

Report of the Independent Auditors | 6 |

Income Statement | 10 |

Other Comprehensive Income | 11 |

Statement of Financial Position | 12 |

Statement of Changes in Equity | 13 |

Notes to the Financial Statements | 14 |

Univolt (UK) Limited

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Dr M Pocksteiner

| D C Mattin

| J Pfeil

| REGISTERED OFFICE: | 1 Minster Court

| Tuscam Way

| Camberley

| Surrey

| GU15 3YY

| REGISTERED NUMBER: | 02481673 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Susan Ambrose FCCA FCA

| AUDITORS: | Butt Miller

| Chartered Accountants and Statutory Auditor

| 1 Minster Court

| Tuscam Way

| Camberley

| Surrey

| GU15 3YY

Univolt (UK) Limited (Registered number: 02481673)

Strategic Report

for the Year Ended 31 December 2025

The directors present their strategic report for the year ended 31 December 2025.

Dietzel Univolt manufacture a complete range of cable management solutions that meet the diverse needs of almost any electrical installation.

Univolt (U.K.) Limited, operating from our Hertfordshire distribution centre, stocks and distributes a wide range of first and second fix cable management products, which can be found on major construction sites and building projects, not only in the UK but worldwide.

As the UK market leader in PVC-LSF (lower Smoke) and LSF0H products, distributing via the electrical wholesaler to the contractor and specifier, we create quality, durable and innovative products, supported by quick fit accessories and fixings.

REVIEW OF BUSINESS

The Company delivered an exceptionally successful trading year, achieving strong financial results and operational milestones in a dynamic industrial environment. Demand for PVC cable management solutions remained robust across key end markets - including construction, infrastructure, data centres, and industrial electrical installations - driving solid revenue growth and improved profitability.

Throughout the year, we reinforced our position as a trusted provider of high-quality dado, maxi and mini trunkings along with conduits and accessories. Our performance reflects the strategic investments made in manufacturing efficiency, customer support, and product innovation.

Trading Performance

Strong Market Demand

The ongoing expansion in construction and infrastructure projects, coupled with rising needs for electrical distribution and communications cabling, supported sustained demand for our PVC cable containment and routing solutions.

Revenue and Margin Progress

Year-on-year revenue growth was driven by:

Expansion into new regional markets;

Increased penetration within existing key accounts;

Diversification into higher-margin premium product lines;

Operational efficiency programmes enhanced throughput and reduced unit production costs; and

Effective supply chain partnerships helped mitigate input cost pressures.

Operational Highlights

These include:

Successful implementation of lean manufacturing initiatives;

Improvements in production scheduling and material handling; and

Enhancement of customer delivery performance and service responsiveness.

Financial key performance indicators

The Company monitors several Key Performance Indicators, to effectively manage the business, including

| 2025 |  | 2024 |  | 2023 |  |

Turnover |  | £14.7 million |  | £13.5 million |  | £13.5 million |  |

Gross Profit |  | £6.7 million |  | £5.6 million |  | £4.6 million |  |

Gross Profit % |  | 45.4% |  | 41.4% |  | 34.0% |  |

Net Assets |  | £1.8 million |  | £1.5 million |  | £1.0 million |  |

Cash at bank |  | £1.0 million |  | £1.0 million |  | £1.0 million |  |

Univolt (UK) Limited (Registered number: 02481673)

Strategic Report

for the Year Ended 31 December 2025

REVIEW OF BUSINESS

Future Developments

We enter the next financial year with confidence and a clear road map for growth. Key strategic initiatives include:

Product and Technology Investment;

Continued development of differentiated PVC cable management systems, including modular and rapid-install options; and

Investment in automation and quality control technologies at manufacturing facilities;

Market Development

Targeted expansion into high-growth geographies;

Strengthening distribution networks and e-commerce channels;

Enhanced technical support and specification-level engagement with engineering, procurement, and construction (EPC) customers;

Sustainability and Compliance

Continued focus on sustainable product design and recycling initiatives; and

Compliance with evolving industry standards and environmental regulations.

These developments are expected to support long-term market share growth and create competitive differentiation.

PRINCIPAL RISKS AND UNCERTAINTIES

We acknowledge that future performance is subject to ongoing risk factors, which we monitor through our risk management framework. These include:

Market and Economic Conditions

Although global industrial activity remains positive, potential fluctuations in economic cycles can influence construction and infrastructure investment. Our diversified customer base and flexible order fulfilment model help mitigate exposure to localised downturns.

Supply Chain Dynamics

Global logistics volatility and raw material cost fluctuations could impact availability and pricing. Proactive supplier engagement, inventory optimisation, and alternative sourcing strategies help ensure continuity.

Regulatory and Compliance Risks

Changes in safety, quality, and environmental standards are managed through dedicated compliance teams, ensuring products meet all applicable certifications.

Overall, we are confident that these risks are being effectively managed through disciplined monitoring, contingency planning, and strategic flexibility.

The company uses various financial instruments, cash and other items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to maintain finance for the company's operations.

Univolt (UK) Limited (Registered number: 02481673)

Strategic Report

for the Year Ended 31 December 2025

PRINCIPAL RISKS AND UNCERTAINTIES

The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below.

The main risks are liquidity and cash flow risk, and credit risk. The directors review and agree policies for managing each of these risks and they are summarised as follows. These policies have remained unchanged from previous years.

The main risks facing the business are as follows:

Liquidity and cash flow risk

The Company maintains a strong liquidity position, supported by:

Healthy operating cash flows;

Conservative working capital management; and

Access to committed funding facilities.

Cash flow forecasts and cash management procedures are regularly reviewed to ensure that sufficient liquidity is available to meet obligations, respond to market opportunities, and support planned capital investments.

This prudent financial approach supports resilience under varying economic conditions and preserves strategic flexibility.

Credit risk

Credit risk arises primarily from trade receivables associated with customer sales. We manage credit exposure through:

Robust credit policies and approval assessments;

Regular monitoring of receivable ageing; and

Clear commercial terms and proactive collection processes.

The majority of our customer base comprises established businesses with strong credit profiles, and historical default experience remains low. Diversification of customer accounts naturally limits concentration risk.

CONCLUSION

The year under review has been one of strong operational execution, financial discipline, and strategic progress. With robust demand fundamentals in the PVC cable management sector and a reinforced competitive position, the Company is well placed for continued success.

We enter the new financial year with confidence, supported by a resilient business model, a clear strategic direction, and a talented team committed to delivering sustainable growth and value for customers and shareholders alike.

ON BEHALF OF THE BOARD:

D C Mattin - Director

31 March 2026

Univolt (UK) Limited (Registered number: 02481673)

Report of the Directors

for the Year Ended 31 December 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the distributors of plastic and metal conduits.

DIVIDENDS

An interim dividend of £6.2745 per share was paid on 4 November 2025. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2025 will be £1,600,000.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

Dr M Pocksteiner

D C Mattin

J Pfeil

STATEMENT OF DIRECTORS' RESPONSIBILITIES

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

D C Mattin - Director

31 March 2026

Report of the Independent Auditors to the Members of

Univolt (UK) Limited

Opinion

We have audited the financial statements of Univolt (UK) Limited (the 'company') for the year ended 31 December 2025 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and 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 2025 and of its profit for the year then ended;

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

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

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Univolt (UK) Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

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

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

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

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

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Univolt (UK) Limited

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:

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

- The nature of the industry and sector the company is in, its control environment and business performance including the design of the company's policies, key drivers for directors’ remuneration and staff bonus levels;

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

- Any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

Our procedures to respond to risks identified included the following:

- Enquiries of management and staff concerning actual and potential litigation claims along with any instances of non-compliance with laws.

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

- Obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of provisions; and

- Considering the risk of fraud through management override of controls; testing the appropriateness of journal entries and other adjustments; checking internal control procedures are being followed as per the company's policies and assessing suitability; assessing the judgements made in making accounting estimates; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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.

Report of the Independent Auditors to the Members of

Univolt (UK) Limited

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.

Susan Ambrose FCCA FCA (Senior Statutory Auditor)

for and on behalf of Butt Miller

Chartered Accountants and Statutory Auditor

1 Minster Court

Tuscam Way

Camberley

Surrey

GU15 3YY

31 March 2026

Univolt (UK) Limited (Registered number: 02481673)

Income Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 14,721,172 |  | 13,497,084 |  |

Cost of sales | (8,041,662 | ) | (7,911,513 | ) |

GROSS PROFIT | 6,679,510 |  | 5,585,571 |  |

Distribution costs | (1,598,956 | ) | (1,467,452 | ) |

Administrative expenses | (2,516,058 | ) | (2,483,456 | ) |

OPERATING PROFIT | 5 | 2,564,496 |  | 1,634,663 |  |

Interest receivable and similar income | 18,748 |  | - |  |

2,583,244 |  | 1,634,663 |  |

Interest payable and similar expenses | 6 | (153 | ) | (1,146 | ) |

PROFIT BEFORE TAXATION | 2,583,091 |  | 1,633,517 |  |

Tax on profit | 7 | (623,516 | ) | (428,285 | ) |

PROFIT FOR THE FINANCIAL YEAR | 1,959,575 |  | 1,205,232 |  |

Univolt (UK) Limited (Registered number: 02481673)

Other Comprehensive Income

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,959,575 |  | 1,205,232 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,959,575 |  | 1,205,232 |  |

Univolt (UK) Limited (Registered number: 02481673)

Statement of Financial Position

31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 211,819 |  | 249,227 |  |

CURRENT ASSETS

Stocks | 10 | 781,823 |  | 1,114,893 |  |

Debtors | 11 | 3,686,899 |  | 3,426,300 |  |

Cash at bank and in hand | 1,001,723 |  | 977,275 |  |

5,470,445 |  | 5,518,468 |  |

CREDITORS

Amounts falling due within one year | 12 | (3,777,813 | ) | (4,214,219 | ) |

NET CURRENT ASSETS | 1,692,632 |  | 1,304,249 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,904,451 |  | 1,553,476 |  |

PROVISIONS FOR LIABILITIES | 15 | (44,152 | ) | (52,752 | ) |

NET ASSETS | 1,860,299 |  | 1,500,724 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 255,000 |  | 255,000 |  |

Retained earnings | 17 | 1,605,299 |  | 1,245,724 |  |

SHAREHOLDERS' FUNDS | 1,860,299 |  | 1,500,724 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2026 and were signed on its behalf by:

D C Mattin - Director

Univolt (UK) Limited (Registered number: 02481673)

Statement of Changes in Equity

for the Year Ended 31 December 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 January 2024 | 255,000 |  | 790,492 |  | 1,045,492 |  |

Changes in equity

Dividends | - |  | (750,000 | ) | (750,000 | ) |

Total comprehensive income | - |  | 1,205,232 |  | 1,205,232 |  |

Balance at 31 December 2024 | 255,000 |  | 1,245,724 |  | 1,500,724 |  |

Changes in equity

Dividends | - |  | (1,600,000 | ) | (1,600,000 | ) |

Total comprehensive income | - |  | 1,959,575 |  | 1,959,575 |  |

Balance at 31 December 2025 | 255,000 |  | 1,605,299 |  | 1,860,299 |  |

Univolt (UK) Limited (Registered number: 02481673)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Univolt (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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Financial Reporting Standard 102 - reduced disclosure exemptions

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

| • | the requirements of Section 7 Statement of Cash Flows.

| Critical accounting judgements and key sources of estimation uncertainty

| Judgements in applying accounting policies

| In the application of the company’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.

| In preparing these financial statements, the directors have made the following judgements:

| To determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration reaching a decision include the economic viability and expected future financial performance of the asset.

| To determine whether there are indicators of impairment or obsolescence of the company's stock. The directors and management use experience and market factors to determine whether any adjustments to the value in the accounts are required.

| To determine whether provisions such as for doubtful debts are required. The directors look at the likelihood of these provisions crystallising by assessing all the information available at the time in determining the decision.

| Key sources of estimation uncertainties

| 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.

| Particular estimation uncertainty is as follows:

| Tangible fixed assets are depreciated over their estimated useful lives taking into account residual values where appropriate. The actual lives may depend on a number of factors including product life and replacement policies.

| Turnover

| Turnover comprises the value of sales (excluding value added tax and similar taxes and trade discounts) of goods and services in the normal course of business.

| Revenue is recognised at the point of sale which is usually determined by the date of delivery.

Univolt (UK) Limited (Registered number: 02481673)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

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

| Short leasehold | - | Over the remaining period of the lease

| Plant and machinery | - | 20-33% on cost

| Fixtures and fittings | - | 10% on cost

| The directors review the assets for impairment annually. Any impairments identified are included in the accounts on discovery.

| Stocks

| Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making allowance for obsolete and slow moving items.

| Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to

| complete and sell. Cost is calculated using the weighted average cost method.

| At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is

| reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in

| the Income Statement.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the year end date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and operating leases

| Assets obtained under hire purchase contracts are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives.

| The interest element of these obligations is charged to the Income Statement over the relevant period. The capital element of the future payments is treated as a liability.

| Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

Univolt (UK) Limited (Registered number: 02481673)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

3. | TURNOVER

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

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

| 2025 |  | 2024

£ | £ |

| United Kingdom | 14,721,172 |  | 13,497,084 |  |

14,721,172 |  | 13,497,084 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 1,260,345 |  | 889,396 |  |

| Social security costs | 166,137 |  | 121,039 |  |

| Other pension costs | 20,217 |  | 194,517 |  |

1,446,699 |  | 1,204,952 |  |

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

| 2025 |  | 2024

| Directors | 2 |  | 2 |  |

| Sales | 12 |  | 10 |  |

| Warehouse | 5 |  | 5 |  |

19 |  | 17 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 440,843 |  | 327,676 |  |

| Directors' pension contributions to money purchase schemes | 6,827 |  | 82,321 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 1 |  | 1 |  |

| Information regarding the highest paid director is as follows:

| 2025 |  | 2024

£ | £ |

| Emoluments etc | 426,663 |  | 314,496 |  |

| Pension contributions to money purchase schemes | 6,827 |  | 82,321 |  |

Univolt (UK) Limited (Registered number: 02481673)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 3,305 |  | 5,195 |  |

| Other operating leases | 384,617 |  | 418,418 |  |

| Depreciation - owned assets | 37,408 |  | 42,599 |  |

| Auditors' remuneration | 20,000 |  | 18,000 |  |

| Foreign exchange differences | 37,773 |  | 62,683 |  |

6. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Other interest | 121 |  | 747 |  |

| Hire purchase | 32 |  | 399 |  |

153 |  | 1,146 |  |

7. | TAXATION

| Analysis of the tax charge

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

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 632,116 |  | 424,822 |  |

| Deferred tax | (8,600 | ) | 3,463 |  |

| Tax on profit | 623,516 |  | 428,285 |  |

| UK corporation tax has been charged at 25% .

| Reconciliation of total tax charge included in profit and loss

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

| 2025 |  | 2024

£ | £ |

| Profit before tax | 2,583,091 |  | 1,633,517 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 645,773 |  | 408,379 |  |

| Effects of:

| Expenses not deductible for tax purposes | (21,599 | ) | 19,251 |  |

| Capital allowances in excess of depreciation | (9,258 | ) | (2,805 | ) |

| Movement in deferred tax provision | 8,600 |  | 3,460 |  |

| Total tax charge | 623,516 |  | 428,285 |  |

Univolt (UK) Limited (Registered number: 02481673)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | DIVIDENDS

| 2025 |  | 2024

£ | £ |

| Interim | 1,600,000 |  | 750,000 |  |

9. | TANGIBLE FIXED ASSETS

| Fixtures |

| Short |  | Plant and |  | and |

| leasehold |  | machinery |  | fittings |  | Totals

£ | £ | £ | £ |

| COST

| At 1 January 2025

| and 31 December 2025 | 39,412 |  | 58,133 |  | 448,838 |  | 546,383 |  |

| DEPRECIATION

| At 1 January 2025 | 3,291 |  | 49,801 |  | 244,064 |  | 297,156 |  |

| Charge for year | 2,627 |  | 2,083 |  | 32,698 |  | 37,408 |  |

| At 31 December 2025 | 5,918 |  | 51,884 |  | 276,762 |  | 334,564 |  |

| NET BOOK VALUE

| At 31 December 2025 | 33,494 |  | 6,249 |  | 172,076 |  | 211,819 |  |

| At 31 December 2024 | 36,121 |  | 8,332 |  | 204,774 |  | 249,227 |  |

| The depreciation charge on assets held under hire purchase was £2,412 (2024: £7,326).

10. | STOCKS

2025 | 2024 |

£ | £ |

| Stocks | 781,823 |  | 1,114,893 |  |

11. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 3,102,393 |  | 3,214,450 |  |

| Tax | 322,884 |  | - |  |

| Other debtors | 1,876 |  | 1,124 |  |

| Prepayments | 98,433 |  | 49,413 |  |

3,525,586 |  | 3,264,987 |  |

| Amounts falling due after more than one year:

| Other debtors | 161,313 |  | 161,313 |  |

| Aggregate amounts | 3,686,899 |  | 3,426,300 |  |

Univolt (UK) Limited (Registered number: 02481673)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 13) | - |  | 2,761 |  |

| Trade creditors | 716,582 |  | 465,849 |  |

| Amounts owed to group undertakings | 1,692,954 |  | 2,327,179 |  |

| Tax | - |  | 238,822 |  |

| Social security and other taxes | 813,203 |  | 670,995 |  |

| Other creditors | 257,423 |  | 314,730 |  |

| Accruals and deferred income | 297,651 |  | 193,883 |  |

3,777,813 |  | 4,214,219 |  |

13. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 2,761 |  |

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 393,127 |  | 267,954 |  |

| Between one and five years | 1,326,829 |  | 1,366,701 |  |

| In more than five years | 2,500,344 |  | 2,822,969 |  |

4,220,300 |  | 4,457,624 |  |

14. | SECURED DEBTS

| The following secured debts are included within creditors:

2025 | 2024 |

£ | £ |

| Hire purchase contracts | - |  | 2,761 |  |

| Hire purchase contracts are secured on the assets held under these contracts.

15. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 44,152 |  | 52,752 |  |

Univolt (UK) Limited (Registered number: 02481673)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

15. | PROVISIONS FOR LIABILITIES - continued

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 52,752 |  |

| Capital allowances adjustment | (8,600 | ) |

| Balance at 31 December 2025 | 44,152 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 255,000 | Ordinary | £1 | 255,000 |  | 255,000 |  |

| All shares have full rights relating to voting, dividends and distributions.

17. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 1,245,724 |  |

| Profit for the year | 1,959,575 |  |

| Dividends | (1,600,000 | ) |

| At 31 December 2025 | 1,605,299 |  |

18. | ULTIMATE PARENT COMPANY

| The ultimate and immediate holding company is Dietzel-Univolt Holding GmbH, incorporated in Austria. Dietzel-Univolt Holding GmbH is the parent company of the largest and smallest of the group for which consolidated accounts are prepared. A copy of the financial statements of Dietzel-Univolt Holding GmbH can be obtained from 1111 Vienna, 1. Haidequerstrasse 3-5 Austria.

19. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.