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REGISTERED NUMBER: 03989637 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

DELTA NEU LIMITED

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

DELTA NEU LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | P Dowell

| M J Duffy

| J C Rose

| P C Mullen

| SECRETARY: | M J Duffy

| REGISTERED OFFICE: | 9 Station View

| Hazel Grove

| Stockport

| Cheshire

| SK7 5ER

| REGISTERED NUMBER: | 03989637 (England and Wales)

| AUDITORS: | CMB Partnership Limited

| Chartered Accountants and Statutory Auditor

| 7 Wey Court

| Mary Road

| Guildford

| Surrey

| GU1 4QU

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

BALANCE SHEET

31 DECEMBER 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 4 | 40,500 |  | 58,500 |  |

Tangible assets | 5 | 33,090 |  | 19,018 |  |

73,590 |  | 77,518 |  |

CURRENT ASSETS

Stocks | 6 | 638,237 |  | 360,570 |  |

Debtors | 7 | 1,699,018 |  | 1,515,359 |  |

Cash at bank | 4,040,675 |  | 2,353,315 |  |

6,377,930 |  | 4,229,244 |  |

CREDITORS

Amounts falling due within one year | 8 | 4,365,239 |  | 2,569,214 |  |

NET CURRENT ASSETS | 2,012,691 |  | 1,660,030 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,086,281 |  | 1,737,548 |  |

PROVISIONS FOR LIABILITIES | 10 | 104,023 |  | 94,650 |  |

NET ASSETS | 1,982,258 |  | 1,642,898 |  |

CAPITAL AND RESERVES

Called up share capital | 11 | 200,000 |  | 200,000 |  |

Retained earnings | 12 | 1,782,258 |  | 1,442,898 |  |

SHAREHOLDERS' FUNDS | 1,982,258 |  | 1,642,898 |  |

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2026 and were signed on its behalf by:

P Dowell - Director

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Delta Neu 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| Revenue recognition

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

| Contracts are assessed on a contract by contract basis and are reflected in the profit and loss account by recording turnover and related costs when a contract is fully invoiced.

| The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Tangible fixed assets

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

| Fixtures and fittings | - | at varying rates on cost

| On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in administrative expenses.

| Stocks and work in progress

| Stocks and work in progress are measured at the lower of cost and selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Provisions

| Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated.

| Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Monetary assets and liabilities in foreign currencies are translated into sterling at the rate of exchange ruling as at the balance sheet date. Exchange differences are taken into account in arriving at the operating result.

| Deferred income

| Deferred income comprises amounts invoiced on incomplete contracts.

| Employee benefits

| Short-term employee benefits are recognised as an expense in the period in which they are incurred.

| Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

| Interest income

| Interest income is recognised using the effective interest method.

| Financial instruments

| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.

| Debt instruments that are payable or receivable within one year, typically trade debtors or creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Impairment of non-financial assets

| At each reporting date non-financial assets not carried at fair value, like fixtures and fittings are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

| Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock is compared with its selling price less costs to complete and sell. If an item of stock is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 21 (2024 - 21 ) .

4. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 January 2025

| and 31 December 2025 | 73,000 |  |

| AMORTISATION

| At 1 January 2025 | 14,500 |  |

| Amortisation for year | 18,000 |  |

| At 31 December 2025 | 32,500 |  |

| NET BOOK VALUE

| At 31 December 2025 | 40,500 |  |

| At 31 December 2024 | 58,500 |  |

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

5. | TANGIBLE FIXED ASSETS

| Fixtures

| and

| fittings

£ |

| COST

| At 1 January 2025 | 129,508 |  |

| Additions | 35,508 |  |

| Disposals | (30,536 | ) |

| At 31 December 2025 | 134,480 |  |

| DEPRECIATION

| At 1 January 2025 | 110,490 |  |

| Charge for year | 21,436 |  |

| Eliminated on disposal | (30,536 | ) |

| At 31 December 2025 | 101,390 |  |

| NET BOOK VALUE

| At 31 December 2025 | 33,090 |  |

| At 31 December 2024 | 19,018 |  |

6. | STOCKS

| 31.12.25 |  | 31.12.24

£ | £ |

| Raw materials | 54,495 |  | 73,657 |  |

| Work-in-progress | 583,742 |  | 286,913 |  |

638,237 |  | 360,570 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade debtors | 1,508,633 |  | 1,438,856 |  |

| Other debtors | 3,100 |  | 3,300 |  |

| VAT | 108,412 |  | - |  |

| Prepayments | 78,873 |  | 73,203 |  |

1,699,018 |  | 1,515,359 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 1,098,203 |  | 369,088 |  |

| Amounts owed to group undertakings | 569,907 |  | 166,991 |  |

| Tax | 158,005 |  | 94,141 |  |

| Social security and other taxes | 132,314 |  | 53,629 |  |

| VAT | - |  | 151,835 |  |

| Other creditors | 576,395 |  | 252,019 |  |

| Deferred income | 1,691,809 |  | 1,293,791 |  |

| Accrued expenses | 138,606 |  | 187,720 |  |

4,365,239 |  | 2,569,214 |  |

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

9. | LEASING AGREEMENTS

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Within one year | 136,251 |  | 115,978 |  |

| Between one and five years | 174,635 |  | 206,539 |  |

310,886 |  | 322,517 |  |

10. | PROVISIONS FOR LIABILITIES

| 31.12.25 |  | 31.12.24

£ | £ |

| Deferred tax | 8,023 |  | 4,450 |  |

| Other provisions | 96,000 |  | 90,200 |  |

104,023 |  | 94,650 |  |

| Deferred |  | Other |

| tax |  | provisions |

£ | £ |

| Balance at 1 January 2025 | 4,450 |  | 90,200 |  |

| Provided during year | 3,573 |  | 5,800 |  |

| Balance at 31 December 2025 | 8,023 |  | 96,000 |  |

11. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.25 |  | 31.12.24

| value: | £ | £ |

| 200,000 | Ordinary shares | £1 | 200,000 |  | 200,000 |  |

12. | RESERVES

| Retained

| earnings

£ |

| At 1 January 2025 | 1,442,898 |  |

| Profit for the year | 774,360 |  |

| Dividends | (435,000 | ) |

| At 31 December 2025 | 1,782,258 |  |

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

| The Report of the Auditors was unqualified.

| Paul Martin (Senior Statutory Auditor)

| for and on behalf of CMB Partnership Limited

14. | CONTINGENT LIABILITIES

| At the year end there were contingent liabilities in respect of bank guarantees totalling £88,074 (2024: £nil).

DELTA NEU LIMITED (REGISTERED NUMBER: 03989637)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

15. | RELATED PARTY DISCLOSURES

| SFPI is the ultimate parent undertaking and during the year the company traded with various group companies.

| At 31 December 2025 the company owed to group undertakings £569,907 (2024: £166,971) and was owed by group undertakings £Nil (2024: £Nil).

16. | PENSION COSTS

| Defined Contribution Schemes

| The company established the Delta Neu Limited Death in Service Benefit Scheme with effect from 1 July 2003 a pension scheme based on contributions payable into the scheme.

| In addition the company also operates a pension scheme with NEST.

| The pension charge for the period was £128,889 (2024: £137,824).

17. | JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| No significant judgements have had to be made by management in preparing these financial statements.

| The directors have made key assumptions regarding the stage of completion, future costs to complete and collectability of some contracts.

18. | TURNOVER

| Turnover for the year ended 31 December 2025 was £9,247,314 (2024: £7,099,640).