IRIS Accounts Production v25.4.0.155 NI017284 Board of Directors 1.9.24 31.8.25 31.8.25 Medium entities 65 65 true false true true false false true true true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh NI017284 2024-08-31 NI017284 2025-08-31 NI017284 2024-09-01 2025-08-31 NI017284 2023-08-31 NI017284 2023-09-01 2024-08-31 NI017284 2024-08-31 NI017284 ns15:NorthernIreland 2024-09-01 2025-08-31 NI017284 ns14:PoundSterling 2024-09-01 2025-08-31 NI017284 ns10:Director1 2024-09-01 2025-08-31 NI017284 ns10:CompanySecretary1 2024-09-01 2025-08-31 NI017284 ns10:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 NI017284 ns10:MediumEntities 2024-09-01 2025-08-31 NI017284 ns10:Audited 2024-09-01 2025-08-31 NI017284 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-09-01 2025-08-31 NI017284 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-09-01 2025-08-31 NI017284 ns10:FullAccounts 2024-09-01 2025-08-31 NI017284 ns10:Director2 2024-09-01 2025-08-31 NI017284 ns10:Director3 2024-09-01 2025-08-31 NI017284 ns10:Director4 2024-09-01 2025-08-31 NI017284 ns10:Director5 2024-09-01 2025-08-31 NI017284 ns10:RegisteredOffice 2024-09-01 2025-08-31 NI017284 ns5:CurrentFinancialInstruments 2025-08-31 NI017284 ns5:CurrentFinancialInstruments 2024-08-31 NI017284 ns5:ShareCapital 2025-08-31 NI017284 ns5:ShareCapital 2024-08-31 NI017284 ns5:SharePremium 2025-08-31 NI017284 ns5:SharePremium 2024-08-31 NI017284 ns5:RevaluationReserve 2025-08-31 NI017284 ns5:RevaluationReserve 2024-08-31 NI017284 ns5:CapitalRedemptionReserve 2025-08-31 NI017284 ns5:CapitalRedemptionReserve 2024-08-31 NI017284 ns5:RetainedEarningsAccumulatedLosses 2025-08-31 NI017284 ns5:RetainedEarningsAccumulatedLosses 2024-08-31 NI017284 ns5:ShareCapital 2023-08-31 NI017284 ns5:RetainedEarningsAccumulatedLosses 2023-08-31 NI017284 ns5:SharePremium 2023-08-31 NI017284 ns5:RetainedEarningsAccumulatedLosses 2023-09-01 2024-08-31 NI017284 ns5:RetainedEarningsAccumulatedLosses 2024-09-01 2025-08-31 NI017284 ns5:RevaluationReserve 2023-08-31 NI017284 ns5:CapitalRedemptionReserve 2023-08-31 NI017284 ns5:RevaluationReserve 2023-09-01 2024-08-31 NI017284 ns5:CapitalRedemptionReserve 2023-09-01 2024-08-31 NI017284 ns5:RevaluationReserve 2024-09-01 2025-08-31 NI017284 ns5:CapitalRedemptionReserve 2024-09-01 2025-08-31 NI017284 1 2024-09-01 2025-08-31 NI017284 1 2024-09-01 2025-08-31 NI017284 1 2023-09-01 2024-08-31 NI017284 13 2024-09-01 2025-08-31 NI017284 13 2023-09-01 2024-08-31 NI017284 ns5:LandBuildings 2024-08-31 NI017284 ns5:PlantMachinery 2024-08-31 NI017284 ns5:MotorVehicles 2024-08-31 NI017284 ns5:ComputerEquipment 2024-08-31 NI017284 ns5:LandBuildings 2024-09-01 2025-08-31 NI017284 ns5:PlantMachinery 2024-09-01 2025-08-31 NI017284 ns5:MotorVehicles 2024-09-01 2025-08-31 NI017284 ns5:ComputerEquipment 2024-09-01 2025-08-31 NI017284 ns5:LandBuildings 2025-08-31 NI017284 ns5:PlantMachinery 2025-08-31 NI017284 ns5:MotorVehicles 2025-08-31 NI017284 ns5:ComputerEquipment 2025-08-31 NI017284 ns5:LandBuildings 2024-08-31 NI017284 ns5:PlantMachinery 2024-08-31 NI017284 ns5:MotorVehicles 2024-08-31 NI017284 ns5:ComputerEquipment 2024-08-31 NI017284 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-08-31 NI017284 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-08-31 NI017284 ns5:CurrentFinancialInstruments 2024-09-01 2025-08-31

REGISTERED NUMBER: NI017284 (Northern Ireland)

DELWYN ENTERPRISES LIMITED

Strategic Report, Directors' Report and

Financial Statements for the Year Ended 31 August 2025

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Contents of the Financial Statements

FOR THE YEAR ENDED 31 AUGUST 2025

Page |

| Company Information | 1 |

| Strategic Report | 2 |

| Directors' Report | 3 |

| Independent Auditors' Report | 5 |

| Income Statement | 9 |

| Statement of Financial Position | 10 |

| Statement of Changes in Equity | 11 |

| Notes to the Financial Statements | 12 |

DELWYN ENTERPRISES LIMITED

Company Information

FOR THE YEAR ENDED 31 AUGUST 2025

| DIRECTORS: | M Esnault

| M H S Feuillet

| F M Feuillet

| K Kyle

| W H McKeown

| SECRETARY: | H Mc Keown

| REGISTERED OFFICE: | C/O Yardmaster International

| Cahore Road, Draperstown

| Co. Londonderry

| BT45 7AP

| REGISTERED NUMBER: | NI017284 (Northern Ireland)

| INDEPENDENT AUDITORS: | Cooper Parry Audit (Ireland) Limited

| Statutory Auditor

| 36-38 Northland Row

| Dungannon

| Co. Tyrone

| BT71 6AP

| BANKERS: | Ulster Bank

| 20 William Street

| Cookstown

| Tyrone

| BT808NB

| SOLICITORS: | P A Duffy & Co

| Molesworth Street

| Cookstown

| Co Tyrone

| BT80 8NX

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Strategic Report

FOR THE YEAR ENDED 31 AUGUST 2025

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

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS

The directors consider the results for the financial year and the position of the company at the year end to be satisfactory given the nature of difficult trading conditions. The company will continue to seek every opportunity to increase profitable turnover.

The directors are committed to long term creation of shareholder value by increasing the company's market share through organic growth. Further successful implementation of this growth strategy combined with achievement of improvements in buying, inventory management and overhead cost savings has resulted in the satisfactory results in 2025.

PRINCIPAL RISKS AND UNCERTAINTIES

Performance in the sector is affected by general economic conditions and specific sectoral factors such as the availability and price fluctuation of steel. The board carries out regular strategic reviews including assessments of competitor activity, market trends and forecasts and customer behaviour. The security of product supply is monitored by the directors on an ongoing basis with supplier financial strength, product quality and service levels regularly reviewed. The company's active review of market prices both provides protection and maximises opportunities from anticipated price rises.

KEY PERFORMANCE INDICATORS

The company's key performance indicators are as follows:

| 2025 |  | 2024 |

Gross profit margin |  | 15.53% |  | 17.69% |

Average number of employees |  | 64 |  | 65 |

The directors consider the key performance indicators to be satisfactory.

PERFORMANCE AND POSITION

The profit for the financial year is £17,794(2024: £365,023) and the company's net assets are £10,581,172 (2024: £10,563,378).

ENVIRONMENT

The company recognises its corporate responsibility to carry out its operations whilst minimising environmental impacts. The directors' continued aim is to comply with all applicable environmental legislation, prevent pollution and reduce waste wherever possible.

HEALTH AND SAFETY

The company is committed to achieving the highest practicable standards in health and safety management and strives to make all sites and offices safe environments for employees and customers alike.

HUMAN RESOURCES

The company's most important resource is its people; their knowledge and experience is crucial to meeting customer requirements. Retention of key staff is critical and the company has invested increasingly in employment training and development and has introduced appropriate incentive and career progression arrangements.

ON BEHALF OF THE BOARD:

H Mc Keown - Secretary

20 February 2026

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Directors' Report

FOR THE YEAR ENDED 31 AUGUST 2025

The directors present their report with the audited financial statements of the Company for the year ended 31 August 2025.

PRINCIPAL ACTIVITY

The principal activity of the Company in the year under review was that of the manufacture of garden sheds.

DIVIDENDS

An interim dividend of £nil (2024: £nil) per ordinary share was paid during the year. The directors do not recommend the payment of a final dividend (2024: £nil).

RESEARCH AND DEVELOPMENT

The company is currently undertaking research and development projects covering new products and process improvement.

FUTURE DEVELOPMENTS

Future developments are referred to in the Strategic report and included in this report by cross reference.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2024 to the date of this report.

M Esnault

M H S Feuillet

F M Feuillet

K Kyle

W H McKeown

FINANCIAL RISK MANAGEMENT

The company's operations expose it to a variety of financial risks that include the effects of changes in price risk, foreign exchange risk and interest rate cash flow risk.

Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policies set by the board of directors are implemented by the company's finance department.

PRICE RISK

The company is exposed to commodity price risk as a result of its operations. However, given the size of the company's operations, the costs of managing exposure to commodity price risk exceed any potential benefits. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature. The company has no exposure to equity securities price risk as it holds no listed or other equity investments.

FOREIGN EXCHANGE RISK

While the greater part of the company's revenues and expenses are denominated in sterling, the company is exposed to some foreign exchange risk in the normal course of business, both on sales in euro and purchases in euro and US dollars. The company enters into forward contracts to hedge against some foreign exchange exposure.

INTEREST RATE CASH FLOW RISK

The company has interest bearing assets. Interest bearing assets include only cash balances, all of which earn interest at a variable rate. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Directors' Report

FOR THE YEAR ENDED 31 AUGUST 2025

DIRECTORS' RESPONSIBILITIES STATEMENT

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

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS

The auditors, Cooper Parry Audit (Ireland) Limited, have indicated their willingness to continue in office in accordance with the provision of Section 485 of the Companies Act 2006.

ON BEHALF OF THE BOARD:

H Mc Keown - Secretary

20 February 2026

Independent Auditors' Report to the Members of

Delwyn Enterprises Limited

Opinion

We have audited the financial statements of Delwyn Enterprises Limited (the 'Company') for the year ended 31 August 2025 which comprise the Income Statement, 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 August 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 Directors' Report, but does not include the financial statements and our Auditors' Report 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 Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

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

Independent Auditors' Report to the Members of

Delwyn Enterprises 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 Directors' Report.

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 Directors' Responsibilities Statement set out on page four, 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.

Independent Auditors' Report to the Members of

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

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

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. The objectives of our audit in respect of fraud are to assess the risk of material misstatement due to fraud, design and implement appropriate responses to those assessed risks and to respond appropriately to instances of fraud or suspected fraud identified during the course of our audit. However, the primary responsibility for the prevention and detection of fraud rests with management and those charged with governance of the company.

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

- |  | We obtained understanding of the legal and regulatory requirements applicable to the company’s financial statements and considered the most significant are the Companies Act 2006, Financial Reporting Standards (FRS102) and UK taxation legislation; |

- |  | We have assessed the risk of material misstatement of the financial statements, including risk of material misstatement due to fraud and how it might occur by holding discussions with management and those charged with governance; |

- |  | We enquired of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations; |

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

- |  | Discussions amongst the audit engagement team regarding how fraud might occur in the financial statements and any potential indicators of fraud. As part of this discussion we identified the following potential areas where fraud may occur: timing of revenue recognition and management override. |

The audit response to risks identified included:

- |  | Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the relevant laws and regulations above; |

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

In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are reasonable 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 Auditors' Report.

Independent Auditors' Report to the Members of

Delwyn Enterprises 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 an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr. Ryan Falls (F.C.A) (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

Statutory Auditor

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

20 February 2026

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Income Statement

FOR THE YEAR ENDED 31 AUGUST 2025

2025 | 2024 |

| Notes | £ | £

TURNOVER | 5 | 4,613,462 |  | 6,622,439 |  |

Cost of sales | (3,909,640 | ) | (5,451,257 | ) |

GROSS PROFIT | 703,822 |  | 1,171,182 |  |

Distribution costs | (59,816 | ) | (70,619 | ) |

Administrative expenses | (671,498 | ) | (616,540 | ) |

OPERATING (LOSS)/PROFIT | 7 | (27,492 | ) | 484,023 |  |

Finance income | 8 | 75,931 |  | 45,702 |  |

48,439 |  | 529,725 |  |

Finance costs | 9 | (17,617 | ) | (9,796 | ) |

PROFIT BEFORE TAXATION | 30,822 |  | 519,929 |  |

Tax on profit | 10 | (13,028 | ) | (154,906 | ) |

PROFIT FOR THE FINANCIAL YEAR | 17,794 |  | 365,023 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 17,794 |  | 365,023 |  |

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Statement of Financial Position

31 AUGUST 2025

2025 | 2024 |

| Notes | £ | £

NON-CURRENT ASSETS

Tangible assets | 12 | 1,295,301 |  | 1,336,914 |  |

CURRENT ASSETS

Stocks | 13 | 4,869,772 |  | 4,876,032 |  |

Receivables: amounts falling due within one year | 14 | 1,349,237 |  | 1,691,092 |  |

Cash at bank | 3,549,856 |  | 3,343,446 |  |

9,768,865 |  | 9,910,570 |  |

PAYABLES

Amounts falling due within one year | 15 | (417,260 | ) | (618,269 | ) |

NET CURRENT ASSETS | 9,351,605 |  | 9,292,301 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 10,646,906 |  | 10,629,215 |  |

PROVISIONS FOR LIABILITIES | 16 | (65,734 | ) | (65,837 | ) |

NET ASSETS | 10,581,172 |  | 10,563,378 |  |

CAPITAL AND RESERVES

Called up share capital | 17 | 160,151 |  | 160,151 |  |

Share premium | 124,221 |  | 124,221 |  |

Revaluation reserve | 75,072 |  | 75,072 |  |

Capital redemption reserve | 21,000 |  | 21,000 |  |

Retained earnings | 10,200,728 |  | 10,182,934 |  |

SHAREHOLDERS' FUNDS | 10,581,172 |  | 10,563,378 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2026 and were signed on its behalf by:

K Kyle - Director

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Statement of Changes in Equity

FOR THE YEAR ENDED 31 AUGUST 2025

Called up |  |

share | Retained | Share |

capital | earnings | premium |

| £ | £ | £

Balance at 1 September 2023 | 160,151 |  | 9,817,911 |  | 124,221 |  |

Changes in equity

Total comprehensive income | - |  | 365,023 |  | - |  |

Balance at 31 August 2024 | 160,151 |  | 10,182,934 |  | 124,221 |  |

Changes in equity

Total comprehensive income | - |  | 17,794 |  | - |  |

Balance at 31 August 2025 | 160,151 |  | 10,200,728 |  | 124,221 |  |

Capital |  |

Revaluation | redemption | Total |

reserve | reserve | equity |

| £ | £ | £

Balance at 1 September 2023 | 75,072 |  | 21,000 |  | 10,198,355 |  |

Changes in equity

Total comprehensive income | - |  | - |  | 365,023 |  |

Balance at 31 August 2024 | 75,072 |  | 21,000 |  | 10,563,378 |  |

Changes in equity

Total comprehensive income | - |  | - |  | 17,794 |  |

Balance at 31 August 2025 | 75,072 |  | 21,000 |  | 10,581,172 |  |

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements

FOR THE YEAR ENDED 31 AUGUST 2025

1. | STATUTORY INFORMATION

| The company's principal activity during the financial year was the manufacture of garden sheds.

| The company is a private company limited by shares and is incorporated and domiciled in Northern Ireland, within the United Kingdom. The address of its registered office is C/O Yardmaster International, Cahore Road, Draperstown, Co Londonderry, BT45 7AP.

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the Company's financial statements.

| The financial statements are prepared in Sterling which is the functional currency of the Company, and rounded to the nearest pound (£), except when otherwise stated.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The Company has taken advantage of the following disclosure exemptions 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;

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

| • | the requirement of paragraph 33.7.

| Revenue

| Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. Where the consideration receivable in cash at bank and in hand is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the imputed rate of interest.

| The company recognises turnover when:

| (a) the significant risks and rewards of ownership have been transferred to the buyer;

| (b) the company retains no continuing involvement or control over the goods;

| (c) the amount of revenue can be measured reliably;

| (d) it is probable that future economic benefits will flow to the entity; and

| (e) when the specific criteria relating to each of the company's sales channels have been met.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

3. | ACCOUNTING POLICIES - continued

| Property, plant and equipment

| Tangible assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management

| The company adds to the carrying amount of an item of tangible assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to Statement of Comprehensive Income during the period in which they are incurred.

| Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

| Depreciation is provided on the following basis:

| Freehold property |  | - 2% |  |

| Plant and machinery |  | -10% |  |

| Motor vehicles |  | -20% |  |

| Computer equipment |  | -15% |  |

| The cost of land is not depreciated.

| The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

| Repairs, maintenance and minor inspection costs are expensed as incurred.

| Inventories

| 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 based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

| At each Balance sheet 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 Statement of comprehensive income.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

3. | ACCOUNTING POLICIES - continued

| Financial instruments

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

| i. Financial assets

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

| Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of comprehensive income.

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

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| ii. Financial liabilities

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

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

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

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| iii. Offsetting

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

| iv. Derivatives

| Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in other operating income.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

3. | ACCOUNTING POLICIES - continued

| Taxation

| The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance sheet date in the countries where the company operates and generates income.

| Deferred tax

| Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date: except that;

| -The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

| -Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

| Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance sheet date.

| Foreign currency translation

| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

| At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

| Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

| Dividends

| Dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final dividends are recognised when approved by the shareholders at an annual general meeting.

| Cash and cash equivalents

| Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

3. | ACCOUNTING POLICIES - continued

| Employee benefits

| The company provides a range of benefits to employees, including paid holiday arrangements.

| (i) Short-term benefits

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

| Government Grants

| Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible assets are credited to the Statement of Comprehensive Income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

| Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

| Contingent Liabilities

| Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or

| (ii) when the existence will be confirmed by the occurrence or nonoccurrence of uncertain future events not wholly within the company's control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

| Defined contribution pension plan

| The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

| The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

| Share Capital

| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from proceeds.

4. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| (a) Critical Judgements in applying the company's accounting policies

| There are no critical judgements in applying the company's accounting policies.

| (b) Critical accounting estimates and assumptions

| There are no critical accounting estimates and assumptions.

5. | TURNOVER

| The whole of the turnover is attributable to the company's main activity.

| No analysis of turnover is presented as the directors consider such disclosure to be seriously prejudical to the company's interest.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

6. | EMPLOYEES AND DIRECTORS

| Staff costs, including directors remuneration, were as follows:

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Wages and salaries |  | 1,459,586 |  | 1,530,863 |  |

| Social security costs |  | 146,928 |  | 126,657 |  |

| Other pension costs |  | 74,552 |  | 27,364 |  |

|  | 1,681,066 |  | 1,684,884 |  |

| Directors` remuneration

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Directors` emoluments fees |  | 107,900 |  | 112,200 |  |

| Company contributions to defined contribution pension schemes |  | 31,200 |  | 15,000 |  |

|  | 139,100 |  | 127,200 |  |

| The average monthly number of employees,including the directors, during the year was as follows

|  | 2025 |  | 2024 |  |

|  | Number |  | Number |  |

| Production |  | 47 |  | 48 |  |

| Selling and distribution |  | 8 |  | 8 |  |

| Administration |  | 9 |  | 9 |  |

|  | 64 |  | 65 |  |

7. | OPERATING (LOSS)/PROFIT

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

|  | 2025 |  | 2024 |  |

|  | £ |  | £ |  |

| Depreciation of tangible assets |  | 65,413 |  | 61,186 |  |

| Auditor`s remuneration |  | 13,200 |  | 13,200 |  |

| Amoritisation of government grants |  | (1,820 | ) | (6,000 | ) |

8. | FINANCE INCOME

2025 | 2024 |

| £ | £

| Bank interest received | 75,931 |  | 37,405 |  |

| Other interest received | - |  | 8,297 |  |

75,931 |  | 45,702 |  |

9. | FINANCE COSTS

2025 | 2024 |

| £ | £

| Bank interest | 8,825 |  | 8,650 |  |

| Loss from derivatives | 8,792 |  | 1,146 |  |

17,617 |  | 9,796 |  |

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

10. | 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 | 11,311 |  | 135,980 |  |

| Adjustments in respect of prior period | - |  | 2,466 |  |

| Total current tax | 11,311 |  | 138,446 |  |

| Deferred tax:

| Origination and reversal of temporary differences | 1,717 |  | (1,018 | ) |

| Adjustments in respect of prior period | - |  | 17,478 |  |

| Total deferred tax | 1,717 |  | 16,460 |  |

| Tax on profit | 13,028 |  | 154,906 |  |

| Reconciliation of total tax charge included in profit and loss

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

2025 | 2024 |

| £ | £

| Profit before tax | 30,822 |  | 519,929 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 7,706 |  | 129,982 |  |

| Effects of:

| Depreciation in excess of capital allowances | 5,322 |  | 4,980 |  |

| Adjustments to tax charge in respect of previous periods | - |  | 19,944 |  |

| Total tax charge | 13,028 |  | 154,906 |  |

11. | FOREIGN EXCHANGE INSTRUMENTS

| The company`s financial instruments are classified as follows:

|  | 2025 |  |  | 2024 |

|  | £ |  | £ |  |

| Financial assets held at fair value |  | (8,792 | ) |  | (1,146 | )

| The company has entered into a number of foreign currency derivative contracts during the year to hedge against potential foreign exchange exposure. As at 31 August 2025 the company has the following derivative contracts in place:

| (i) Sell Euro €750k for sterling

| (ii) Buy US Dollars $350k from Sterling

| The fair value measurement on these derivatives as at year end is included in other creditors note 15 of the financial statements.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

12. | PROPERTY, PLANT AND EQUIPMENT

Freehold | Plant and | Motor | Computer |  |

property | machinery | vehicles | equipment | Totals |

| £ | £ | £ | £ | £

| COST

| At 1 September 2024 | 1,434,334 |  | 2,841,905 |  | 26,700 |  | 81,590 |  | 4,384,529 |  |

| Additions | - |  | 23,300 |  | - |  | 500 |  | 23,800 |  |

| At 31 August 2025 | 1,434,334 |  | 2,865,205 |  | 26,700 |  | 82,090 |  | 4,408,329 |  |

| DEPRECIATION

| At 1 September 2024 | 461,756 |  | 2,505,996 |  | 8,018 |  | 71,845 |  | 3,047,615 |  |

| Charge for year | 21,290 |  | 35,213 |  | 5,340 |  | 3,570 |  | 65,413 |  |

| At 31 August 2025 | 483,046 |  | 2,541,209 |  | 13,358 |  | 75,415 |  | 3,113,028 |  |

| NET BOOK VALUE

| At 31 August 2025 | 951,288 |  | 323,996 |  | 13,342 |  | 6,675 |  | 1,295,301 |  |

| At 31 August 2024 | 972,578 |  | 335,909 |  | 18,682 |  | 9,745 |  | 1,336,914 |  |

13. | STOCKS

2025 | 2024 |

| £ | £

| Raw materials | 2,037,678 |  | 2,471,099 |  |

| Work-in-progress | 1,113,864 |  | 1,308,059 |  |

| Finished goods | 1,718,230 |  | 1,096,874 |  |

4,869,772 |  | 4,876,032 |  |

14. | RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade receivables | 1,195,430 |  | 1,352,585 |  |

| Amounts owed by group undertakings | 104,106 |  | 300,487 |  |

| Corporation Tax | 37,502 |  | 28,813 |  |

| Prepayments and accrued income | 12,199 |  | 9,207 |  |

1,349,237 |  | 1,691,092 |  |

| The amounts owed by group undertakings are non interest bearing and recoverable on demand.

15. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade payables | 78,767 |  | 115,200 |  |

| Social security and other taxes | 121,355 |  | 172,259 |  |

| Other payables | 8,792 |  | 1,146 |  |

| Accruals and deferred income | 208,346 |  | 329,664 |  |

417,260 |  | 618,269 |  |

| The amounts owed to group undertakings are interest free and payable on demand.

DELWYN ENTERPRISES LIMITED (REGISTERED NUMBER: NI017284)

Notes to the Financial Statements - continued

FOR THE YEAR ENDED 31 AUGUST 2025

16. | PROVISIONS FOR LIABILITIES

|  | Deferred |  | Government |  | Total |  |

|  | tax |  | grants |  |

| £ |  | £ |  | £ |  |

| Balance at 1 September 2024 |  | 64,017 |  | 1,820 |  | 65,837 |  |

| Movement in the year |  | 1,717 |  | (1,820 | ) | (103 | ) |

| Balance at 31 August 2025 |  | 65,734 |  | 0 |  | 65,734 |  |

|  | 2025 |  | 2024 |  |

| Deferred tax is made up of: |  | £ |  | £ |  |

| Accelerated capital allowances |  | 67,391 |  | 65,674 |  |

| Other timing differences |  | (1,657 | ) | (1,657 | ) |

|  | 65,734 |  | 64,017 |  |

17. | CALLED UP SHARE CAPITAL

| The ordinary share capital of the company is presented as equity.

18. | ULTIMATE PARENT COMPANY

| Trigano (incorporated in France ) is regarded by the directors as being the Company's ultimate parent company.

| Trigano is the parent undertaking of the smallest and the largest group of undertakings to consolidate these financial statements. The consolidated financial statements can be obtained from the company secretary at 100 Rue Petit 75165 Paris Cedex 19.

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.