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Registered number: 11185164 STORTEC ENGINEERING LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2025
STORTEC ENGINEERING LIMITED REGISTERED NUMBER: 11185164 BALANCE SHEET AS AT 31 DECEMBER 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 5 |  | 659,845 |  | 554,035
|  |  | 659,845 |  | 554,035
Current assets |  |  |  |  |
Stocks |  | 119,895 |  | 149,921 |
Debtors: amounts falling due within one year | 6 | 3,262,427 |  | 2,197,757 |
Cash at bank and in hand | 7 | 1,329,900 |  | 1,073,023 |
|  | 4,712,222 |  | 3,420,701 |
Creditors: amounts falling due within one year | 8 | (3,339,362) |  | (2,664,275) |
Net current assets |  |  | 1,372,860 |  | 756,426
Total assets less current liabilities |  |  | 2,032,705 |  | 1,310,461
Creditors: amounts falling due after more than one year | 9 |  | - |  | (8,506)
Provisions for liabilities |  |  |  |  |
Deferred tax | 11 | (140,550) |  | (113,453) |
|  |  | (140,550) |  | (113,453)
Net assets |  |  | 1,892,155 |  | 1,188,502
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,000 |  | 1,000
Share premium account |  |  | 89,011 |  | 89,011
Profit and loss account |  |  | 1,802,144 |  | 1,098,491
|  |  | 1,892,155 |  | 1,188,502
Page 1
STORTEC ENGINEERING LIMITED REGISTERED NUMBER: 11185164 BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 May 2026.
M Dickinson | C E Stoyell
Director | Director
The notes on pages 3 to 10 form part of these financial statements. Page 2
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
1. | General information
The Company is a private limited company, which is incorporated and registered in England and Wales (company number: 11185164). The address of its registered office is Control Tower Caenby Corner Estate, Hemswell Cliff, Gainsborough, England, DN21 5TU. The principal activity of the company continued to be that of the provision of total biogas and water engineering solutions. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). The financial statements have been prepared in accordance with FRS102 as published by the Financial Reporting Council 31 January 2022 and amendments to that standard effective for periods up to 31 December 2025. They do not (and are not required to) comply with the amendment published 27 March 2024, effective for periods commencing 1 January 2026, or the current version of FRS102 published 10 September 2024. Early adoption of those standards is permitted, but the directors have chosen not to do so and will adopt them from the effective date of 1 January 2026. The following principal accounting policies have been applied:
| 2.2 | Going concern
At 31 December 2025 the Company had net assets of £1,892,155 (2024 - £1,188,502), and the directors believe that the Company is well placed to manage its business risks successfully. The directors have reviewed the current position, cash flow projections and pipeline for the next twelve months from the date of signing these financial statements, and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the going concern basis has been adopted in preparing the financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances 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. Non-monetary 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. Page 3
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.3 | Foreign currency translation (continued)
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.
| 2.4 | 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: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
| 2.6 | Research and development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
| 2.7 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 4
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.8 | Pensions
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 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.
| 2.9 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 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.
| 2.10 | Tangible fixed assets
Tangible fixed 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. Page 5
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 2.Accounting policies (continued)
| 2.10 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 10% to 20% reducing balance
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Fixtures and fittings | - | 33% reducing balance
|  |  |  | Computer equipment | - | 33% reducing balance
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 profit or loss.
| 2.11 | 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.
| 2.12 | 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.
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | Creditors
Short-term 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. Page 6
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
3. | Judgements in applying accounting policies and key sources of estimation uncertainty
The estimates and judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the financial year are as follows: Key sources of estimation uncertainty Valuation of work in progress Work in progress is valued based upon the stage of completion of a contract at the end of the reporting period, taking into account costs incurred and costs to complete. Costs to complete are estimated by the project managers, based upon their knowledge and understanding of the work carried out, and the underlying contract.
4. | Employees
| The average monthly number of employees, including directors, during the year was 56 (2024 - 47).
5. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Computer equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2025 | 536,893 | 40,034 | 164,235 | 174,407 | 915,569
| Additions | 184,258 | 842 | 3,516 | 96,736 | 285,352
| Disposals | (1,068) | - | - | - | (1,068)
| At 31 December 2025 | 720,083 | 40,876 | 167,751 | 271,143 | 1,199,853
| Depreciation |  |  |  |  |
| At 1 January 2025 | 189,649 | 13,058 | 59,073 | 99,754 | 361,534
| Charge for the year on owned assets | 96,797 | 5,233 | 35,106 | 41,557 | 178,693
| Disposals | (219) | - | - | - | (219)
| At 31 December 2025 | 286,227 | 18,291 | 94,179 | 141,311 | 540,008
| Net book value |  |  |  |  |
| At 31 December 2025 | 433,856 | 22,585 | 73,572 | 129,832 | 659,845
| At 31 December 2024 | 347,244 | 26,976 | 105,162 | 74,653 | 554,035
Page 7
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
6. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 1,350,282 | 1,101,444
| Amounts owed by group undertakings | 393,972 | -
| Other debtors | 67,178 | 159,419
| Prepayments and accrued income | 104,577 | 115,442
| Amounts recoverable on long term contracts | 1,215,227 | 821,452
| Tax recoverable | 131,191 | -
|  | 3,262,427 | 2,197,757
| Included within amounts owed by group undertakings is a balance of £300,000 falling due within one year (2024 - £NIL) owed by the parent company, GVO B-1 Limited. The loan is informal and repayable on demand.
7. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,329,900 | 1,073,023
|  | 1,329,900 | 1,073,023
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Payments received on account | 1,339,964 | 910,966
| Trade creditors | 1,728,432 | 1,279,783
| Amounts owed to group undertakings | 6,430 | 6,770
| Corporation tax | 136,327 | 200,449
| Other taxation and social security | - | 114,957
| Obligations under finance lease and hire purchase contracts | - | 7,833
| Other creditors | 31,062 | 80,802
| Accruals and deferred income | 97,147 | 62,715
|  | 3,339,362 | 2,664,275
Page 8
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Net obligations under finance leases and hire purchase contracts | - | 8,506
|  | - | 8,506
10. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Within one year | - | 7,833
| Between 1-5 years | - | 8,506
|  | - | 16,339
| Hire purchase contracts are secured against the assets to which they relate. The hire purchase contracts were repaid in full during the year.
11. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (113,453)
| Charged to profit or loss | (27,097)
| At end of year | (140,550)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Accelerated capital allowances | (141,817) | (113,453)
| Pension surplus | 1,267 | -
|  | (140,550) | (113,453)
Page 9
STORTEC ENGINEERING LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
12. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £56,043 (2024 - £103,463). Contributions totalling £18,770 (2024 - £80,525) were payable to the fund at the balance sheet date and are included in creditors.
13. | Related party transactions
| The Company made sales to fellow group companies, received payments on account from fellow group companies, and incurred costs with fellow group companies which have all been concluded under normal market conditions. The amounts due from fellow group companies at the year-end was £93,972 (2024 - £6,770 due to fellow group companies). Included under debtors are amounts owed by group undertakings which represent amounts owed by the parent company, GVO B-1 Limited. The loan is informal and repayable on demand. At the year-end the balance on this loan was £300,000 (2024 - £NIL). The Company is part of a group relief group, for corporation tax, and the Company therefore pays for tax losses claimed equal to the value of tax saved. The amount due to group undertakings in relation to the consideration payable for tax losses at the reporting date was £6,430 (2024 - £NIL). The above balances can be seen in Notes 6 and 8 respectively as amounts owed by/to group undertakings.
14. | Post balance sheet events
After the reporting date, the Company entered into a new lease agreement to relocate the business from its current premises. The relocation is expected to be completed in late 2026. Any costs directly attributable to the relocation are not expected to be material to the Company and are expected to be largely offset by reduced ongoing occupancy costs arising from the new premises.
15. | Controlling party
The Company is under the control of GVO B-1 Limited, its parent undertaking, by virtue of its majority shareholding in the company. The registered office of GVO B-1 is 2 Aldford Street, London, WK1 2AB. The ultimate controlling party is deemed to be Hansa Aktiengesellschaft by virtue of its majority shareholding in GVO B-1 Limited.
16. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified. The audit report was signed on 13 May 2026 by Andrew Cameron (Senior statutory auditor) on behalf of Ryecroft Glenton.
Page 10