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REGISTERED NUMBER: 00966219 (England and Wales)

Financial Statements

for the Year Ended 31 December 2025

for

TROUVAY & CAUVIN LIMITED

| TROUVAY & CAUVIN LIMITED (REGISTERED NUMBER: 00966219) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Balance Sheet | 2 |

| Notes to the Financial Statements | 3 |

| TROUVAY & CAUVIN LIMITED |

Company Information

for the Year Ended 31 December 2025

| Directors: | L P Marie

| L Marie

| Secretary: | S Pickup

| Registered office: | Broadgate

| Broadway Business Park

| Chadderton

| Oldham

| Lancashire

| OL9 9XA

| Registered number: | 00966219 (England and Wales)

| Auditors: | S&W Audit

| Northern Assurance Buildings

| 9-21 Princess Street

| Manchester

| M2 4DN

| TROUVAY & CAUVIN LIMITED (REGISTERED NUMBER: 00966219) |

Balance Sheet

31 December 2025

2025 | 2024 |

| Notes | £ | £ | £ | £

Fixed assets

Tangible assets | 5 | 18,470 |  | 10,107 |  |

Current assets

Stocks | 78,014 |  | 46,548 |  |

Debtors | 6 | 3,388,387 |  | 2,665,127 |  |

Cash at bank and in hand | 776,734 |  | 552,296 |  |

4,243,135 |  | 3,263,971 |  |

Creditors

Amounts falling due within one year | 7 | 2,450,322 |  | 1,597,042 |  |

Net current assets | 1,792,813 |  | 1,666,929 |  |

Total assets less current liabilities | 1,811,283 |  | 1,677,036 |  |

Provisions for liabilities | 4,618 |  | - |  |

Net assets | 1,806,665 |  | 1,677,036 |  |

Capital and reserves

Called up share capital | 9 | 517,500 |  | 517,500 |  |

Retained earnings | 1,289,165 |  | 1,159,536 |  |

Shareholders' funds | 1,806,665 |  | 1,677,036 |  |

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2026 and were signed on its behalf by:

L Marie - Director

| TROUVAY & CAUVIN LIMITED (REGISTERED NUMBER: 00966219) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | Statutory information

| Trouvay & Cauvin 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.

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" under the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | Accounting policies

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| In assessing the company's ability to continue as a going concern, the Directors have considered the liquidity position and reviewed cash flow forecasts for the foreseeable future. The company has adequate financial resources and as a consequence, the Directors believe that the company is well places to managed its business risks successfully and meet its liabilities as they fall due. For this reason, the Directors continue to adopt the going concern concept.

| Turnover

| Turnover represents the net invoiced sales of piping products to customers, excluding value added tax. Sales are recognised in line with freight terms.

| 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 | - | 20% straight line

| Fixtures and fittings | - | 25% straight line and 20% straight line

| Computer equipment | - | 33% straight line and 20% straight line

| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

| Stocks

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

| TROUVAY & CAUVIN LIMITED (REGISTERED NUMBER: 00966219) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 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 profit or loss.

| There are no assets which are initially measured at fair value.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other creditors that are classified as debt, 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.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

| 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.

| TROUVAY & CAUVIN LIMITED (REGISTERED NUMBER: 00966219) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | Employees and directors

| The average number of employees during the year was 10 (2024 - 10 ) .

5. | Tangible fixed assets

Fixtures |  |

Improvements | Plant and | and | Computer |  |

to property | machinery | fittings | equipment | Totals |

| £ | £ | £ | £ | £

| Cost

| At 1 January 2025 | 10,604 |  | - |  | 6,022 |  | 26,622 |  | 43,248 |  |

| Additions | - |  | 9,105 |  | - |  | 4,611 |  | 13,716 |  |

| At 31 December 2025 | 10,604 |  | 9,105 |  | 6,022 |  | 31,233 |  | 56,964 |  |

| Depreciation

| At 1 January 2025 | 7,377 |  | - |  | 4,955 |  | 20,809 |  | 33,141 |  |

| Charge for year | 1,137 |  | 224 |  | 310 |  | 3,682 |  | 5,353 |  |

| At 31 December 2025 | 8,514 |  | 224 |  | 5,265 |  | 24,491 |  | 38,494 |  |

| Net book value

| At 31 December 2025 | 2,090 |  | 8,881 |  | 757 |  | 6,742 |  | 18,470 |  |

| At 31 December 2024 | 3,227 |  | - |  | 1,067 |  | 5,813 |  | 10,107 |  |

6. | Debtors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Trade debtors | 2,437,914 |  | 2,027,504 |  |

| Amounts owed by group undertakings | 600,387 |  | 469,779 |  |

| Other debtors | 350,086 |  | 167,844 |  |

3,388,387 |  | 2,665,127 |  |

| Financial assets that are debt instruments measured at amortised cost include trade debtors, amounts owed by group undertakings and other debtors.

| During the year ended 31 December 2024, an amount of £140,948 was included within trade debtors and has been reclassified to amounts owed to group undertakings to reflect its correct nature.

7. | Creditors: amounts falling due within one year |

2025 | 2024 |

| £ | £

| Trade creditors | 202,572 |  | 590,037 |  |

| Amounts owed to group undertakings | 1,868,447 |  | 768,466 |  |

| Corporation tax | 41,986 |  | 88,575 |  |

| Social security and other taxes | 13,407 |  | 13,639 |  |

| Accrued expenses | 323,910 |  | 136,325 |  |

2,450,322 |  | 1,597,042 |  |

| TROUVAY & CAUVIN LIMITED (REGISTERED NUMBER: 00966219) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

7. | Creditors: amounts falling due within one year - continued

| Financial liabilities measured at amortised cost include trade creditors and other creditors.

| During the year ended 31 December 2024, an amount of £768,466 was included within trade creditors and has been reclassified to amounts owed by group undertakings to reflect its correct nature.

8. | Leasing agreements

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

2025 | 2024 |

| £ | £

| Within one year | 85,000 |  | 85,000 |  |

| Between one and five years | 247,917 |  | 332,917 |  |

332,917 |  | 417,917 |  |

9. | Called up share capital

| Allotted, issued and fully paid:

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

value: |  | £ | £

| 517,500 | Ordinary | £1 | 517,500 |  | 517,500 |  |

10. | Disclosure under Section 444(5B) of the Companies Act 2006

| The Report of the Auditors was unqualified.

| David Fort FCA (Senior Statutory Auditor)

| for and on behalf of S&W Audit

11. | 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.

12. | Ultimate controlling party

| The ultimate parent undertaking and the smallest and largest group to consolidate these financial statements is Trouvay & Cauvin Holding Group FZCO. Consolidated financial statements can be obtained from P.O Box 16954, Dubai, United Arab Emirates.