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REGISTERED NUMBER: 05625572 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Kiton UK Ltd

Kiton UK Ltd (Registered number: 05625572)

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 |

Kiton UK Ltd

Company Information

for the Year Ended 31 December 2025

| DIRECTORS: | Mr A Abbondanza

| Mr M Galetto

| Ms M G Paone

| REGISTERED OFFICE: | 5th Floor 10 Brook Street

| Mayfair

| London

| W1S 1BG

| REGISTERED NUMBER: | 05625572 (England and Wales)

| SENIOR STATUTORY AUDITOR: | Lorraine Curtis BFP ACA FCCA

| AUDITORS: | Nordens Audit Limited

| Statutory Auditors

| The Retreat

| 406 Roding Lane South

| Woodford Green

| Essex

| IG8 8EY

Kiton UK Ltd (Registered number: 05625572)

Balance Sheet

31 December 2025

| 31.12.25 | 31.12.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 1,284,124 |  | 1,094,150 |  |

CURRENT ASSETS

Stocks | 4,675,049 |  | 3,576,426 |  |

Debtors | 5 | 1,332,172 |  | 1,067,620 |  |

Cash at bank and in hand | 324,218 |  | 333,638 |  |

6,331,439 |  | 4,977,684 |  |

CREDITORS

Amounts falling due within one year | 6 | 5,799,522 |  | 4,327,972 |  |

NET CURRENT ASSETS | 531,917 |  | 649,712 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,816,041 |  | 1,743,862 |  |

PROVISIONS FOR LIABILITIES | 7 | 202,625 |  | 178,593 |  |

NET ASSETS | 1,613,416 |  | 1,565,269 |  |

CAPITAL AND RESERVES

Called up share capital | 300,000 |  | 300,000 |  |

Retained earnings | 1,313,416 |  | 1,265,269 |  |

1,613,416 |  | 1,565,269 |  |

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 11 May 2026 and were signed on its behalf by:

Ms M G Paone - Director

Kiton UK Ltd (Registered number: 05625572)

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Kiton UK Ltd 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. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Revenue

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

| Sales of goods

| Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

| - the company has transferred the significant risks and rewards of ownership to the buyer;

| - the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

| - the amount of revenue can be measured reliably;

| - it is probable that the company will receive the consideration due under the transaction; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Kiton UK Ltd (Registered number: 05625572)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at historical costs 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.

| 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:

| Leasehold improvements |  | - 10%, 22% and 27% (as per lease agreement ending date) |  |

| Plant and machinery |  | - 33% |  |

| Fixtures and fittings |  | - 20% |  |

| Computer equipment |  | - 20% |  |

| 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 changes since the last reporting date.

| Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

| Depreciation is charged once the asset has been brought into use.

| Stocks

| 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 profit or loss.

Kiton UK Ltd (Registered number: 05625572)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

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

| Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument.

| Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

| The company's policies for its major classes of financial assets and financial liabilities are set out below:

| Financial assets

| Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances and intercompany financing 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

| Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

| Financial liabilities

| Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares 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 payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Impairment of financial assets

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

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| 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 profit or loss.

Kiton UK Ltd (Registered number: 05625572)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| Derecognition of financial assets and financial liabilities

| 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) despite having retained some significant risks and rewards of ownership, 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.

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

| Offsetting of financial assets and financial liabilities

| Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

| Taxation

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

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

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

| 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.

Kiton UK Ltd (Registered number: 05625572)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary 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 profit or loss 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 profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme 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 profit or loss 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.

| Going concern

| The company is dependent upon the continued support of its parent company, Ciro Paone S.p.A, both financially and operationally. Therefore, the going concern basis of the company is inherently linked to that of its parent. The company's directors have received confirmation from the company's parent that such support will be forthcoming for the foreseeable future, being a period of not less than twelve months from the date that the financial statements were approved.

| Therefore, at the date of approval of these financial statements, the directors have a reasonable expectation that the group, and therefore the company, has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, the directors continue to adopt the going concern basis in preparing these financial statements.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 16 (2024 - 12 ) .

Kiton UK Ltd (Registered number: 05625572)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | TANGIBLE FIXED ASSETS

| Plant and |

| Land and |  | machinery |

| buildings |  | etc |  | Totals

£ | £ | £ |

| COST

| At 1 January 2025 | 1,372,750 |  | 1,416,749 |  | 2,789,499 |  |

| Additions | 346,933 |  | 116,569 |  | 463,502 |  |

| At 31 December 2025 | 1,719,683 |  | 1,533,318 |  | 3,253,001 |  |

| DEPRECIATION

| At 1 January 2025 | 923,221 |  | 772,128 |  | 1,695,349 |  |

| Charge for year | 130,429 |  | 143,099 |  | 273,528 |  |

| At 31 December 2025 | 1,053,650 |  | 915,227 |  | 1,968,877 |  |

| NET BOOK VALUE

| At 31 December 2025 | 666,033 |  | 618,091 |  | 1,284,124 |  |

| At 31 December 2024 | 449,529 |  | 644,621 |  | 1,094,150 |  |

5. | DEBTORS

| 31.12.25 |  | 31.12.24

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 88,002 |  | 49,860 |  |

| Other debtors | 337,796 |  | 389,135 |  |

425,798 |  | 438,995 |  |

| Amounts falling due after more than one year:

| Other debtors | 906,374 |  | 628,625 |  |

| Aggregate amounts | 1,332,172 |  | 1,067,620 |  |

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

| 31.12.25 |  | 31.12.24

£ | £ |

| Trade creditors | 514,801 |  | 296,730 |  |

| Amounts owed to group undertakings | 4,283,618 |  | 3,215,418 |  |

| Taxation and social security | 278,348 |  | 176,602 |  |

| Other creditors | 722,755 |  | 639,222 |  |

5,799,522 |  | 4,327,972 |  |

Kiton UK Ltd (Registered number: 05625572)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

7. | PROVISIONS FOR LIABILITIES

| 31.12.25 |  | 31.12.24

£ | £ |

| Deferred tax | 172,625 |  | 148,593 |  |

| Other provisions | 30,000 |  | 30,000 |  |

202,625 |  | 178,593 |  |

| Dilapidati |

| Deferred |  | on |

| tax |  | provision |

£ | £ |

| Balance at 1 January 2025 | 148,593 |  | 30,000 |  |

| Charge to Income Statement during year | 24,032 |  | - |  |

| Balance at 31 December 2025 | 172,625 |  | 30,000 |  |

| The dilapidation provision represents the directors' assessment of the value of dilapidation work which the company is legally obliged to perform under the rental agreement on its premises. The provision has not been discounted since the effect of discounting is not material.

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

| The Report of the Auditors was unqualified.

| Lorraine Curtis BFP ACA FCCA (Senior Statutory Auditor)

| for and on behalf of Nordens Audit Limited

9. | 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.

10. | CONTROLLING PARTY

| The company's immediate and ultimate parent undertaking and controlling party is Ciro Paone S.p.A, a company incorporated in Italy.

| Ciro Paone S.p.A is the parent undertaking of the largest and smallest group of undertakings to consolidate these financial statements at 31 December 2025.

| Copies of the group financial statements of Ciro Paone S.p.A may be obtained from Viale delle Industrie, 80022 Arzano (NA), Italy.