Company registration number 01602355 (England and Wales)
VETTERTEC LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
VETTERTEC LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
VETTERTEC LTD
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
41
3,907
Current assets
Debtors
5
189,547
122,290
Cash at bank and in hand
59,725
34,005
249,272
156,295
Creditors: amounts falling due within one year
6
(1,036,966)
(845,800)
Net current liabilities
(787,694)
(689,505)
Net liabilities
(787,653)
(685,598)
Capital and reserves
Called up share capital
49,505
49,505
Share premium account
11,090
11,090
Capital redemption reserve
14,650
14,650
Profit and loss reserves
(862,898)
(760,843)
Total equity
(787,653)
(685,598)

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 May 2026 and are signed on its behalf by:
P Kennet
Director
Company registration number 01602355 (England and Wales)
VETTERTEC LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -
1
Accounting policies
Company information

Vettertec Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Riverbridge House, Guildford Road, Fetcham, Leatherhead, Surrey, KT22 9AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company relies on the continued support of its intermediate parent company, VetterTec GmbH, a company registered in Germany, to enable it to continue to operate within its working capital facilities. The parent company has provided continued support in respect of an inter-company loan true and has provided written agreement that it will continue to support the company for a period not less than twelve months from signing the financial statements.

Taking these factors into consideration, t he directors believe the business will have sufficient resources available in order to meet its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. Consequently, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future and for this reason they continue to adopt the going concern basis for preparing the financial statements.

1.3
Turnover

Turnover from spare parts is recognised upon delivery. Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect partial performances of contractual obligations. Intercompany revenue in relation to engineering services is charged at the appropriate current daily rate that would be charged to external customers and such revenue is recognised on completion of services performed.

The company facilitates the sale of goods for intercompany entities. The company does not control the specified goods provided by the vendors before those goods are transferred to the end customer. When the Company satisfies the performance obligation, the Company recognises revenue in the amount of any fee or commission to which it expects to be entitled in exchange for arranging the specified goods to be provided by the other party.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the lease period
Plant and equipment
5-10 years
Computer equipment and software
3 years
VETTERTEC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 3 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

VETTERTEC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Management consider the key estimates and judgements to relate to provisions and contract revenue on long term projects. This requires management to make judgements over the expected outcome of projects.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
VETTERTEC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2025
6,430
38,828
45,258
Additions
5,746
3,022
8,768
Disposals
(6,431)
-
0
(6,431)
At 31 December 2025
5,745
41,850
47,595
Depreciation and impairment
At 1 January 2025
6,430
34,921
41,351
Depreciation charged in the year
5,746
6,888
12,634
Eliminated in respect of disposals
(6,431)
-
0
(6,431)
At 31 December 2025
5,745
41,809
47,554
Carrying amount
At 31 December 2025
-
0
41
41
At 31 December 2024
-
0
3,907
3,907
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
100,966
95,322
Amounts owed by group undertakings
64,141
7,072
Other debtors
24,440
17,958
189,547
120,352
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
38,122
8,574
Amounts owed to group undertakings
513,967
467,915
Taxation and social security
59,169
11,227
Redeemable preference shares
300,000
300,000
Accruals
125,708
56,146
1,036,966
843,862
VETTERTEC LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
6
Creditors: amounts falling due within one year
(Continued)
- 6 -

In accordance with FRS102, the cumulative redeemable preference shares have been presented as debt.

On 30 December 20 0 2, the authorised and issued share capital was increased by the creation and issue of 300,000 6% cumulative redeemable preference shares of £1 each. The shares are non-voting and were issued at par in consideration of the waiver of £300,000 of the debt due to the parent company.

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss 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.

Senior Statutory Auditor:
Carolyn Robson
Statutory Auditor:
Rouse Audit LLP
Date of audit report:
13 May 2026
8
Operating lease commitments
As lessee

Non-cancellable operating lease rentals are payable as follows:

2025
2024
£
£
Total commitments
4,124
7,862
9
Parent company

The ultimate holding company is Moret Industries Group SAS, a company registered in France.

The smallest group and largest group for which consolidated financial statements are prepared is that headed up by Moret Industries Group SAS. Copies of the group accounts are available from its registered office, Moret Industries, Chemin des Ponts et Chaussées, F-02100 Saint-Quentin, France.

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