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REGISTERED NUMBER: 01358229 (England and Wales)

| Strategic Report, |

| Report of the Director and |

| Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| Isringhausen (GB) Limited |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Report of the Director | 3 |

| Report of the Independent Auditors | 4 |

| Statement of Comprehensive Income | 7 |

| Balance Sheet | 8 |

| Statement of Changes in Equity | 9 |

| Cash Flow Statement | 10 |

| Notes to the Cash Flow Statement | 11 |

| Notes to the Financial Statements | 12 |

| Isringhausen (GB) Limited |

Company Information

for the Year Ended 31 December 2025

| DIRECTOR: | S J Szabo

| SECRETARY: | Ms A L Teese

| REGISTERED OFFICE: | Second Avenue

| Redwither Business Park

| Wrexham

| Clwyd

| LL13 9XQ

| REGISTERED NUMBER: | 01358229 (England and Wales)

| AUDITORS: | Wright Vigar Limited

| Statutory Auditors

| Chartered Accountants & Business Advisers

| Alexandra House

| 43 Alexandra St

| Nottingham

| Nottinghamshire

| NG5 1AY

| Isringhausen (GB) Limited (Registered number: 01358229) |

Strategic Report

for the Year Ended 31 December 2025

The director presents his strategic report for the year ended 31 December 2025.

REVIEW OF BUSINESS

The company is wholly owned by Airvent AG (based in Switzerland) who in turn are part of the Aunde Group, global manufacturers of textiles and seating systems to the car, commercial vehicle, construction, bus and coach industry OEM's.

In our markets of construction and bus seat manufacturing, activity levels for 2025 started low for the 1st quarter, however, they were up on budget. Global markets for construction and agricultural machinery are not showing any increase. Challenges in the UK included a decline in housebuilding activity due to rising material and labour costs having a negative impact on machine utilisation. Supply chain disruption continues with price increases, outsourcing due to recruitment issues with scheduling variances causing disruption to build and supply.

The management team continue to make decisions that increase our UK industrial footprint. Due to ongoing pressure from customers who continue to request price decreases, we are looking at cost down measures by means of resourcing of some raw materials to cheaper manufacturing locations. The benefit of this is anticipated to be a stabilising material cost whilst also increasing the 'value added' within the Wrexham plant.

The management team also report that the Aunde Group is fully supportive of the UK business strategy and will continue to invest in the long term.

PRINCIPAL RISKS AND UNCERTAINTIES

The key business risks and uncertainties include general economic uncertainty and the company's ability to expand the customer base in order to give access to new markets.

The management team aims to maintain margins on sales whilst focusing on growth of the company's business and are aware that maintaining the company's strong retention of key employees will help to achieve this.

The company purchases some stock lines from overseas, and this exposes it to risks relating to foreign exchange fluctuations. The company does not actively use financial instruments as part of its financial risk management because currencies that the company is exposed to have generally been stable in recent years.

The company is exposed to the usual credit risk and cash flow risk associated with its business, and the credit terms afforded to customers, and manages this through tight credit control procedures.

ANALYSIS OF KEY PERFORMANCE INDICATORS

The management team considers key financial indicators such as sales turnover, cost of sales/materials, and personnel costs to monitor the financial performance and position of the company. Cash at bank remains healthy, and the management team are satisfied that the company can continue to pay its debts as they fall due for the foreseeable future.

At close of year 2025, the company had recorded an operational turnover of €19.64 million against a budget of €16.88 million (using a conversion rate of 1.15 Euro to GBP which is based on management assessment).

ON BEHALF OF THE BOARD:

S J Szabo - Director

24 March 2026

| Isringhausen (GB) Limited (Registered number: 01358229) |

Report of the Director

for the Year Ended 31 December 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 December 2025.

DIRECTOR

S J Szabo held office during the whole of the period from 1 January 2025 to the date of this report.

QUALIFYING INDEMNITY PROVISION

The company takes out indemnity insurance on behalf of the directors.

DISCLOSURE IN THE STRATEGIC REPORT

The directors have prepared a review of the business, together with a summary of the principal risks and uncertainties affecting the company, and these are detailed within the Strategic Report. The report includes an explanation of the company's financial risk management policies.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

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

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

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

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

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

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

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

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

ON BEHALF OF THE BOARD:

S J Szabo - Director

24 March 2026

Report of the Independent Auditors to the Members of

Isringhausen (GB) Limited

Opinion

We have audited the financial statements of Isringhausen (GB) Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 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 director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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

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

Opinions on other matters prescribed by the Companies Act 2006

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

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

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

Report of the Independent Auditors to the Members of

Isringhausen (GB) 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 Director.

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

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

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

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

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

Responsibilities of director

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

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

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

Our approach included obtaining an understanding of the legal and regulatory frameworks that are applicable to the company and we determined those that are most significant. Based on the results of our risk assessment we designed audit procedures to identify non-compliance with such laws and regulations. The specific procedures included enquiry of management and those charged with governance around actual and potential litigation and claims.

In addition, and based on the results of our risk assessment we designed audit procedures to identify and address material misstatements in relation to fraud. Specifically we considered the risk of fraud through management override that may lead to a misappropriation of assets or inappropriate financial reporting. In response, we performed audit work over the risk of management override of controls, including testing 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 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 is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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

Isringhausen (GB) 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.

Steven Newman LLB BFP FCA (Senior Statutory Auditor)

for and on behalf of Wright Vigar Limited

Statutory Auditors

Chartered Accountants & Business Advisers

Alexandra House

43 Alexandra St

Nottingham

Nottinghamshire

NG5 1AY

24 March 2026

| Isringhausen (GB) Limited (Registered number: 01358229) |

Statement of Comprehensive

Income

for the Year Ended 31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

TURNOVER | 3 | 9,440,742 |  | 8,855,545 |  |

Cost of sales | 8,174,813 |  | 7,730,395 |  |

GROSS PROFIT | 1,265,929 |  | 1,125,150 |  |

Distribution costs | 46,290 |  | 43,772 |  |

Administrative expenses | 1,356,168 |  | 1,913,258 |  |

|  | 1,402,458 |  |  |  | 1,957,030 |  |

(136,529 | ) | (831,880 | ) |

Other operating income | 461,121 |  | 563,503 |  |

OPERATING PROFIT/(LOSS) | 5 | 324,592 |  | (268,377 | ) |

Interest receivable and similar income | 6 | 148,909 |  | 151,649 |  |

473,501 |  | (116,728 | ) |

Interest payable and similar expenses | 7 | 367 |  | 725 |  |

PROFIT/(LOSS) BEFORE TAXATION | 473,134 |  | (117,453 | ) |

Tax on profit/(loss) | 8 | 100,890 |  | (16,035 | ) |

PROFIT/(LOSS) FOR THE FINANCIAL YEAR | 372,244 |  | (101,418 | ) |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 372,244 |  | (101,418 | ) |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Balance Sheet

31 December 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 1,197,363 |  | 1,189,443 |  |

CURRENT ASSETS

Stocks | 10 | 1,698,320 |  | 1,646,093 |  |

Debtors | 11 | 7,957,066 |  | 7,820,480 |  |

Cash at bank and in hand | 1,955,478 |  | 1,826,214 |  |

11,610,864 |  | 11,292,787 |  |

CREDITORS

Amounts falling due within one year | 12 | 921,625 |  | 966,502 |  |

NET CURRENT ASSETS | 10,689,239 |  | 10,326,285 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 11,886,602 |  | 11,515,728 |  |

CREDITORS

Amounts falling due after more than one year | 13 | - |  | (508 | ) |

PROVISIONS FOR LIABILITIES | 15 | (13,991 | ) | (14,853 | ) |

NET ASSETS | 11,872,611 |  | 11,500,367 |  |

CAPITAL AND RESERVES

Called up share capital | 16 | 1,168,500 |  | 1,168,500 |  |

Retained earnings | 17 | 10,704,111 |  | 10,331,867 |  |

SHAREHOLDERS' FUNDS | 11,872,611 |  | 11,500,367 |  |

The financial statements were approved by the director and authorised for issue on 24 March 2026 and were signed by:

S J Szabo - Director

| Isringhausen (GB) Limited (Registered number: 01358229) |

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 | 1,168,500 |  | 10,433,285 |  | 11,601,785 |  |

Changes in equity

Total comprehensive income | - |  | (101,418 | ) | (101,418 | ) |

Balance at 31 December 2024 | 1,168,500 |  | 10,331,867 |  | 11,500,367 |  |

Changes in equity

Total comprehensive income | - |  | 372,244 |  | 372,244 |  |

Balance at 31 December 2025 | 1,168,500 |  | 10,704,111 |  | 11,872,611 |  |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Cash Flow Statement

for the Year Ended 31 December 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 190,267 |  | (804,212 | ) |

Interest element of hire purchase payments paid | (367 | ) | (725 | ) |

Tax paid | 32,500 |  | (3,674 | ) |

Net cash from operating activities | 222,400 |  | (808,611 | ) |

Cash flows from investing activities

Purchase of tangible fixed assets | (43,742 | ) | (16,207 | ) |

Interest received | 145,268 |  | 151,649 |  |

Net cash from investing activities | 101,526 |  | 135,442 |  |

Cash flows from financing activities

Proceeds from loans from group | (179,338 | ) | 88,390 |  |

Capital repayments in year | (15,324 | ) | (14,818 | ) |

Government grant income | - |  | 2,707 |  |

Net cash from financing activities | (194,662 | ) | 76,279 |  |

Increase/(decrease) in cash and cash equivalents | 129,264 |  | (596,890 | ) |

Cash and cash equivalents at beginning of year | 2 | 1,826,214 |  | 2,423,104 |  |

Cash and cash equivalents at end of year | 2 | 1,955,478 |  | 1,826,214 |  |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Cash Flow Statement

for the Year Ended 31 December 2025

1. | RECONCILIATION OF PROFIT/(LOSS) FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit/(loss) for the financial year | 372,244 |  | (101,418 | ) |

| Depreciation charges | 35,823 |  | 28,592 |  |

| Accrued expenses | (15,218 | ) | 4,115 |  |

| Government grants | - |  | (2,707 | ) |

| Finance costs | 367 |  | 725 |  |

| Finance income | (148,909 | ) | (151,649 | ) |

| Taxation | 100,890 |  | (16,035 | ) |

345,197 |  | (238,377 | ) |

| Increase in stocks | (52,227 | ) | (29,540 | ) |

| Increase in trade and other debtors | (142,767 | ) | (594,242 | ) |

| Increase in trade and other creditors | 40,064 |  | 57,947 |  |

| Cash generated from operations | 190,267 |  | (804,212 | ) |

2. | CASH AND CASH EQUIVALENTS

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

| Year ended 31 December 2025

| 31.12.25 |  | 1.1.25

£ | £ |

| Cash and cash equivalents | 1,955,478 |  | 1,826,214 |  |

| Year ended 31 December 2024

| 31.12.24 |  | 1.1.24

£ | £ |

| Cash and cash equivalents | 1,826,214 |  | 2,423,104 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.1.25 | Cash flow | At 31.12.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,826,214 |  | 129,264 |  | 1,955,478 |  |

1,826,214 |  | 129,264 |  | 1,955,478 |  |

| Debt

| Finance leases | (15,326 | ) | 15,326 |  | - |  |

(15,326 | ) | 15,326 |  | - |  |

| Total | 1,810,888 |  | 144,590 |  | 1,955,478 |  |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Isringhausen (GB) 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 principal activity of the company is that of manufacturing seats and components for supply to the OEM truck, van bus and off road construction vehicle industry.

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.

| Judgements and key sources of estimation uncertainty

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

| Stock valuations - this involves judgements as to pricing and the extent to which provisions are required to account for the risk of obsolescence.

| Turnover

| Turnover represents the total invoice value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

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

| Tangible fixed assets

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

| Improvements to property | - | Land not depreciated. Buildings 2% cost

| Plant and machinery | - | Straight line over 4 - 10 years

| Fixtures and fittings | - | Straight line over 4 - 10 years

| Motor vehicles | - | Straight line over 4 years

| Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

| If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

| No depreciation is charged on freehold land. In addition, depreciation is not charged on the original cost of freehold buildings because the board believe that the net book value is now reported at residual value.

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Stocks and work in progress

| Stock and work in progress are valued at the lower of cost and net realisable value. In determining the cost of raw materials, consumables and goods purchased for resale, the weighted average purchase price is used. Net realisable value means estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distribution. Work in progress is valued at cost of materials used including apportioned overheads incurred up to the relevant stage of production.

| Financial instruments

| A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

| Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

| Taxation

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

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

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

| 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.

| Foreign currencies

| Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Hire purchase and finance leases

| Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

| Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

| Defined contribution pension plans

| Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

| Operating leases

| Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expenses over the lease term, on a straight-line basis.

| Impairment

| A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

| When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

3. | TURNOVER

| The turnover and profit (2024 - loss) 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 | 9,138,003 |  | 8,602,533 |  |

| Europe | 18,710 |  | 36,206 |  |

| Rest of the World | 284,029 |  | 216,806 |  |

9,440,742 |  | 8,855,545 |  |

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 2,004,494 |  | 1,776,145 |  |

| Social security costs | 223,609 |  | 160,488 |  |

| Other pension costs | 53,059 |  | 45,925 |  |

2,281,162 |  | 1,982,558 |  |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | EMPLOYEES AND DIRECTORS - continued

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

| 2025 |  | 2024

| Manufacturing | 70 |  | 61 |  |

| Administration | 16 |  | 16 |  |

86 |  | 77 |  |

| 2025 |  | 2024

£ | £ |

| Director's remuneration | 54,454 |  | 60,808 |  |

| Director's pension contributions to money purchase schemes | 2,370 |  | 2,320 |  |

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

| Money purchase schemes | 1 |  | 1 |  |

5. | OPERATING PROFIT/(LOSS)

| The operating profit (2024 - operating loss) is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Hire of plant and machinery | 34,473 |  | 30,279 |  |

| Other operating leases | 11,096 |  | 9,822 |  |

| Operating lease income | (46,950 | ) | (47,029 | ) |

| Depreciation - owned assets | 35,822 |  | 28,590 |  |

| Auditors' remuneration | 20,700 |  | 19,020 |  |

| Foreign exchange differences | (212,546 | ) | 211,309 |  |

6. | INTEREST RECEIVABLE AND SIMILAR INCOME |

| 2025 |  | 2024

£ | £ |

| Other interest receivable | 122,748 |  | 121,507 |  |

| Bank deposits | 26,161 |  | 30,142 |  |

148,909 |  | 151,649 |  |

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 2025 |  | 2024

£ | £ |

| Hire purchase | 367 |  | 725 |  |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | TAXATION

| Analysis of the tax charge/(credit)

| The tax charge/(credit) on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 101,752 |  | - |  |

| Adjustments in respect of

| prior year | - |  | (16,035 | ) |

| Total current tax | 101,752 |  | (16,035 | ) |

| Deferred tax | (862 | ) | - |  |

| Tax on profit/(loss) | 100,890 |  | (16,035 | ) |

| UK corporation tax has been charged at 25% .

| Reconciliation of total tax charge/(credit) 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/(loss) before tax | 473,134 |  | (117,453 | ) |

| Profit/(loss) multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 118,284 |  | (29,363 | ) |

| Effects of:

| Expenses not deductible for tax purposes | 128 |  | (202 | ) |

| Capital allowances in excess of depreciation | (2,514 | ) | - |  |

| Depreciation in excess of capital allowances | - |  | 2,446 |  |

| Utilisation of tax losses | (14,146 | ) | - |  |

| Adjustments to tax charge in respect of previous periods | - |  | (16,035 | ) |

| Deferred taxation | (862 | ) | - |  |

| Tax rate difference | - |  | 27,119 |  |

| Total tax charge/(credit) | 100,890 |  | (16,035 | ) |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

9. | TANGIBLE FIXED ASSETS

| Improvements |

| Land and |  | to |  | Plant and

| Buildings |  | property |  | machinery

£ | £ | £ |

| COST

| At 1 January 2025 | 1,827,515 |  | 432,958 |  | 660,647 |  |

| Additions | - |  | - |  | 29,812 |  |

| At 31 December 2025 | 1,827,515 |  | 432,958 |  | 690,459 |  |

| DEPRECIATION

| At 1 January 2025 | 765,504 |  | 376,840 |  | 593,457 |  |

| Charge for year | - |  | 9,550 |  | 23,871 |  |

| At 31 December 2025 | 765,504 |  | 386,390 |  | 617,328 |  |

| NET BOOK VALUE

| At 31 December 2025 | 1,062,011 |  | 46,568 |  | 73,131 |  |

| At 31 December 2024 | 1,062,011 |  | 56,118 |  | 67,190 |  |

| Fixtures |

| and |  | Motor |

| fittings |  | vehicles |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 300,252 |  | 11,750 |  | 3,233,122 |  |

| Additions | 13,930 |  | - |  | 43,742 |  |

| At 31 December 2025 | 314,182 |  | 11,750 |  | 3,276,864 |  |

| DEPRECIATION

| At 1 January 2025 | 296,128 |  | 11,750 |  | 2,043,679 |  |

| Charge for year | 2,401 |  | - |  | 35,822 |  |

| At 31 December 2025 | 298,529 |  | 11,750 |  | 2,079,501 |  |

| NET BOOK VALUE

| At 31 December 2025 | 15,653 |  | - |  | 1,197,363 |  |

| At 31 December 2024 | 4,124 |  | - |  | 1,189,443 |  |

| Included within the carrying value of tangible assets are the following amounts relating to assets held

| under finance leases or hire purchase agreements:

| Plant, machinery and factory equipment

| At 31 December 2025 £40,000

| At 31 December 2024 £48,000

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

10. | STOCKS

2025 | 2024 |

£ | £ |

| Raw materials | 1,433,070 |  | 1,455,140 |  |

| Work-in-progress | 227,902 |  | 190,953 |  |

| Finished goods | 37,348 |  | - |  |

1,698,320 |  | 1,646,093 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 1,516,153 |  | 1,373,023 |  |

| Amounts owed by group undertakings | 6,386,906 |  | 6,333,553 |  |

| Other debtors | 6,558 |  | 6,653 |  |

| Tax | - |  | 59,534 |  |

| Prepayments | 47,449 |  | 47,717 |  |

7,957,066 |  | 7,820,480 |  |

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 14) | - |  | 14,818 |  |

| Trade creditors | 361,817 |  | 341,018 |  |

| Amounts owed to group undertakings | 7,054 |  | 133,036 |  |

| Corporation tax | 71,077 |  | - |  |

| Social security and other taxes | 103,804 |  | 80,068 |  |

| VAT | 275,780 |  | 297,597 |  |

| Wages and salaries control | 60,950 |  | 43,604 |  |

| Accruals and deferred income | 41,143 |  | 56,361 |  |

921,625 |  | 966,502 |  |

| Assets held under hire purchase contracts are secured against the assets to which they relate.

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

2025 | 2024 |

£ | £ |

| Hire purchase contracts (see note 14) | - |  | 508 |  |

14. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2025 | 2024 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 14,818 |  |

| Between one and five years | - |  | 508 |  |

- |  | 15,326 |  |

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

14. | LEASING AGREEMENTS - continued

| Non-cancellable |

| operating leases |

2025 | 2024 |

£ | £ |

| Within one year | 48,963 |  | 16,084 |  |

| Between one and five years | 178,871 |  | 12,333 |  |

| In more than five years | 630 |  | - |  |

228,464 |  | 28,417 |  |

15. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax

| Accelerated capital allowances | 13,991 |  | 14,853 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2025 | 14,853 |  |

| Credit to Statement of Comprehensive Income during year | (862 | ) |

| Balance at 31 December 2025 | 13,991 |  |

16. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

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

| value: | £ | £ |

| 1,168,500 | Ordinary shares | £1.00 | 1,168,500 |  | 1,168,500 |  |

17. | RESERVES

| Profit and loss account:

| This reserve records retained earnings and accumulated losses

18. | OTHER FINANCIAL COMMITMENTS - OPERATING LEASE INCOME

| The company has leased some buildings on the site to a third party and the committed income to the company, on an operating lease, is as follows:

| Amounts receivable within 1 year - £34,000 (2024 - £34,000);

| Amounts receivable between one and five years - £8,500 (2024 - £11,333).

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

19. | RELATED PARTY DISCLOSURES

| The company has transactions and balances with a number of other subsidiaries within the Isringhausen GmbH & Co. KG group.

| During the year the company made sales to Isringhausen BVBA in the sum of £15,843 (2024 - £25,303). £Nil (2024 - £Nil) remained outstanding at the year end and is included within amounts owed from group undertakings.

| During the year the company made purchases from Isringhausen BVBA in the sum of £Nil (2024 - £Nil). £Nil (2024 - £Nil) remained outstanding at the year end.

| During the year the company made sales to Isringhausen GmbH & Co. KG in the sum of £115,553 (2024 - £121,640). £76,772 (2024 - £79,522) remained outstanding at the year end.

| During the year the company made purchases from Isringhausen GmbH & Co. KG in the sum of £1,471,640 (2024 - £1,566,300). This includes a management charge of £95,155 (2024 - £149,365). £4,557 (2024 - £116,054) remained outstanding at the year end and is included within amounts owed to group undertakings.

| In 2014 the company provided a loan to Isringhausen GmbH & Co. KG for the sum of £1,192,938. At 31 December 2024 this changed to £1,308,900 (2023 - £1,243,770) due to exchange differences. In 2017 and 2018 the company provided further loans to Isringhausen GmbH & Co. KG for the sum of £2,500,000 and £500,000 respectively, and a further £829,180 to Isringhausen GmbH in 2022, a further £248,754 in 2023 and a further £414,590 in 2024. £5,879,580 (2024 - £5,736,294) remained outstanding at the year end and is included within amounts owed from group undertakings, falling due within one year.

| During the year the company received interest of £114.952 (2024 - £121,507), which remained outstanding at the year end and is included within amounts owed to group undertakings.

| During the year the company made purchases from Airvent AG in the sum of £42,420 (2024 - £40,957). £Nil (2024 - £Nil) remained outstanding at the year end and is included within amounts owed to group undertakings.

| During the year the company made sales to Isringhausen Spain S.L.U in the sum of £1,477 (2024 - £1,477). £1,477 (2024 - £Nil) remained outstanding at the year end.

| During the year the company made purchases from Isringhausen Spain S.L.U in the sum of £363,391 (2024 - £250,412). £7,106 (2024 - £11,026) remained outstanding at the year end and is included within amounts owed to group undertakings.

| During the year the company made sales to ISRI-France S.A.S in the sum of £789 (2024 - £1,387). £Nil (2024 - £Nil) remained outstanding at the year end.

| During the year the company made purchases from ISRI-France S.A.S in the sum of £39,472 (2024 - £80,365). £364 (2024 - £412) remained outstanding at the year end and is included within amounts owed to group undertakings.

| During the year the company made sales/recharges to Esteban UK Limited in the sum of £6,056,712 (2024 - £5,032,983). £427,619 (2024 - £516,844) remained outstanding at the year end and is included within amounts owed from group undertakings.

| During the year the company made purchases from Aunde Achter & Ebels GmbH in the sum of £30,556 (2024 - £38,614). £Nil (2024 - £4,179) remained outstanding at the year end and is included within amounts owed to group undertakings.

| During the year the company made purchases from SKA Sitze GmbH in the sum of £3,151 (2024 - £88,300). £Nil (2024 - £1,364) remained outstanding at the year end.

| Isringhausen (GB) Limited (Registered number: 01358229) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

| During the year the company made purchases from Aunde C & S Automotive S.R.L in the sum of £603 (2024 - Nil). £Nil (2024 - £Nil) remained outstanding at the year end.

| During the year the company made sales to Isringhausen Pty. Ltd in the sum of £37,032 (2024 - £6,700). £7,493 (2024 - £Nil) remained outstanding at the year end.

| During the year the company made purchases from Aunde Kulmbach in the sum of £24.253 (2024 - £7,658). £Nil (2024 - £Nil) remained outstanding at the year end.

| During the year the company made sales to Aunde Portugal in the sum of £Nil (2024 - £908). £Nil (2024 - £908) remained outstanding at the year end.

| During the year the company made purchases from Aunde Auto Interiors in the sum of £1,060 (2024 - £2,976). £1,060 (2024 - £Nil) remained outstanding at the year end.

| During the year the company made purchases from Isringhausen AB in the sum of £Nil (2024 - £14,242). £Nil (2024 - £Nil) remained outstanding at the year end.

20. | ULTIMATE CONTROLLING PARTY

| The company is a subsidiary undertaking of Airvent AG, incorporated in Switzerland.

| The largest group in which results of the company are consolidated is that headed by Isringhausen GmbH & Co. KG, incorporated in Germany. The consolidated financial statements of this company are not available to the public. No other group financial statements include the results of the company.

| The director controls the company's operations in the UK, but overall control of the strategic direction of the company is retained by the directors of Isringhausen GmbH & Co. KG.