REGISTERED NUMBER: 02765706 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

SAMMIC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Senor FJ Goenaga Aseginolaza

Senor JM Pena Neira

Senor JJ Marquina Iriarte

SECRETARY:

Senor JM Pena Neira

REGISTERED OFFICE:

Granville Hall

Granville Road

Leicester

Leicestershire

LE1 7RU

REGISTERED NUMBER:

02765706 (England and Wales)

SENIOR STATUTORY AUDITOR:

Mr P Bott FCA

AUDITORS:

Mark J Rees LLP Chartered Accountants

and Statutory Auditors

Granville Hall

Granville Road

Leicester

LE1 7RU

BANKERS:

National Westminster Bank PLC

1 Granby Street

Leicester

Leicestershire

LE1 9GT

FIXED ASSETS

Tangible assets

4

1,863,782

8,388

CURRENT ASSETS

Stocks

592,605

467,904

Debtors

5

989,517

751,341

Cash at bank and in hand

185,041

1,651,792

1,767,163

2,871,037

CREDITORS

Amounts falling due within one year

6

1,366,592

1,183,618

NET CURRENT ASSETS

400,571

1,687,419

TOTAL ASSETS LESS CURRENT LIABILITIES

2,264,353

1,695,807

PROVISIONS FOR LIABILITIES

99,727

24,633

NET ASSETS

2,164,626

1,671,174

CAPITAL AND RESERVES

Called up share capital

125,500

125,500

Retained earnings

2,039,126

1,545,674

SHAREHOLDERS' FUNDS

2,164,626

1,671,174

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2026 and were signed on its behalf by:

Senor JM Pena Neira - Director

1.	STATUTORY INFORMATION

Sammic Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Revenue comprises the fair value for the sale of goods excluding value added tax and represents net invoice value less rebates, returns and settlement discounts.

The company supplies products to customers from its warehouse, under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Tangible fixed assets

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

Plant and machinery - 25% on cost and 15% on cost

Freehold property - 5% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the group has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Foreign currencies

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 January 2025

-

57,277

57,277

Additions

1,564,691

339,082

1,903,773

Disposals

-

(39,041

)

(39,041

)

At 31 December 2025

1,564,691

357,318

1,922,009

DEPRECIATION

At 1 January 2025

-

48,889

48,889

Charge for year

23,612

20,049

43,661

Eliminated on disposal

-

(34,323

)

(34,323

)

At 31 December 2025

23,612

34,615

58,227

NET BOOK VALUE

At 31 December 2025

1,541,079

322,703

1,863,782

At 31 December 2024

-

8,388

8,388

Included in cost of land and buildings is freehold land of £ 147,963 (2024 - £ 0 ) which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

947,772

721,779

Other debtors

41,745

29,562

989,517

751,341

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

263,420

164,293

Amounts owed to group undertakings

772,119

633,378

Taxation and social security

282,377

333,299

Other creditors

48,676

52,648

1,366,592

1,183,618

7.	LEASING AGREEMENTS

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

2025

2024

£

£

Within one year

25,581

61,293

Between one and five years

25,823

53,006

51,404

114,299

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

The Report of the Auditors was unqualified.

Mr P Bott FCA (Senior Statutory Auditor)

for and on behalf of Mark J Rees LLP Chartered Accountants

9.	PENSION COMMITMENTS

The company contributes to a personal pension scheme in respect of certain employees. The total costs payable in the year were £8,513 (2024: £8,021). There were no contributions outstanding at the year end.

10.	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.

11.	ULTIMATE CONTROLLING PARTY

The company's parent company and controlling party is Sammic SL, incorporated in Spain. Copies of the group accounts which include the company are available from C/Basarte 1, 20720 Azkoitia (Gipuzkoa), Spain.

The company's ultimate parent company is Igarpe Trading SL, incorporated in Spain.