REGISTERED NUMBER: 04334528 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

CHEMFIX PRODUCTS LIMITED

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

J Juher

C Palomo Reixach

X Sague

SECRETARY:

X Sague

REGISTERED OFFICE:

Mill Street East

Dewsbury

West Yorkshire

WF12 9BQ

REGISTERED NUMBER:

04334528 (England and Wales)

INDEPENDENT AUDITORS:

TC Group, Statutory Auditor

31 High View Close

Hamilton Office Park

Leicester

Leicestershire

LE4 9LJ

The Directors present their strategic report for Chemfix Products Ltd for the year ended 31st December 2025.

The company manufactures and sells chemical anchors, building adhesives, and wood repair products to the professional and DIY markets around the world.

BUSINESS REVIEW

Revenue increased slightly from £26,546,388 in 2024 to £26,936,951 in 2025. A sales revenue increase of 1.14% was mainly due to an increase in revenue in the UK and the rest of the World markets.

Overall profitability increased from £1,806,910 to £2,039,955, and the gross margin remained the same for both years at 28.9%, illustrating a year where sales increase slightly based on a different product mix than the previous year with an increase in some lower margin products.

The Company has managed its working capital efficiently, having sufficient funds to meet short-term obligations with creditors and finance capital expenditure to improve its factory infrastructure to facilitate efficient manufacturing operations.

Profits generated from this year's trading have strengthened the company's ability to invest and pursue further market growth.

PRINCIPAL RISKS AND UNCERTAINTIES FACING THE BUSINESS

The Management Team continually monitors the key risks facing the Company and introduces controls to manage these risks.

The principal risks and uncertainties facing the Company are:

1. Raw material availability and potential price increases from all major suppliers due to the ongoing political issues in the Middle East, which could potentially drive up the price of oil, which will drive up the cost of our essential raw materials.

2. The price pressure in some of our markets which will aggravate even more the current situation.

3. The global uncertainty due to international conflicts and the current political climate in the UK could bring an economic slowdown of investment in some of our main markets.

FINANCIAL POSITION AT THE REPORTING DATE

The Company's net assets increased from £9,350,199 to £10,078,854 in 2025 and the Company's finances are in a strong position.

FINANCIAL KEY PERFORMANCE INDICATORS

Management uses a range of performance measures to monitor and manage the business. The performance measures used are set out below.

2025

2024

Gross profit margin

28.9%

28.9%

Net profit margin

7.6%

9.6%

Return on Capital Employed

24.6%

25.8%

FUTURE DEVELOPMENTS

The company intends to achieve its objectives by continuing to support its customers with high quality products and great customer service.

The Company will keep investing in the improvement of the manufacturing plant efficiency and capacity, as well as in R&D and product technical certificates, to deliver better and more sustainable products into the market.

ON BEHALF OF THE BOARD:

C Palomo Reixach - Director

21 May 2026

The directors present their report with the financial statements of the company for the year ended 31 December 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the manufacture and sale of chemical anchors, building adhesives and wood repair products to the professional and DIY markets around the world.

DIVIDENDS

A dividend of £1,311,300 (2024: £1,417,948) was proposed during the year. £Nil (2024: £Nil) remains unpaid at the year end.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2025 to the date of this report.

J Juher

C Palomo Reixach

X Sague

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, TC Group, Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

C Palomo Reixach - Director

21 May 2026

Opinion

We have audited the financial statements of Chemfix Products Limited (the 'company') for the year ended 31 December 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

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 profit 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.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulation. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assess the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above.

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Dilun Mistry FCA (Senior Statutory Auditor)

for and on behalf of TC Group, Statutory Auditor

31 High View Close

Hamilton Office Park

Leicester

Leicestershire

LE4 9LJ

28 May 2026

TURNOVER

3

26,936,951

26,546,388

Cost of sales

19,155,617

18,887,322

GROSS PROFIT

7,781,334

7,659,066

Distribution costs

808,871

829,401

Administrative expenses

4,553,948

4,492,640

5,362,819

5,322,041

2,418,515

2,337,025

Other operating income

60,764

73,808

OPERATING PROFIT

5

2,479,279

2,410,833

Interest receivable and similar income

40,740

-

PROFIT BEFORE TAXATION

2,520,019

2,410,833

Tax on profit

7

480,064

603,923

PROFIT FOR THE FINANCIAL YEAR

2,039,955

1,806,910

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

2,039,955

1,806,910

FIXED ASSETS

Intangible assets

9

726,846

598,511

Tangible assets

10

3,315,216

3,191,446

4,042,062

3,789,957

CURRENT ASSETS

Stocks

11

2,121,475

2,083,238

Debtors

12

6,517,048

5,124,393

Cash at bank and in hand

2,631,032

2,396,417

11,269,555

9,604,048

CREDITORS

Amounts falling due within one year

13

4,580,495

3,440,424

NET CURRENT ASSETS

6,689,060

6,163,624

TOTAL ASSETS LESS CURRENT LIABILITIES

10,731,122

9,953,581

PROVISIONS FOR LIABILITIES

15

652,268

603,382

NET ASSETS

10,078,854

9,350,199

CAPITAL AND RESERVES

Called up share capital

16

1,500,002

1,500,002

Retained earnings

17

8,578,852

7,850,197

SHAREHOLDERS' FUNDS

10,078,854

9,350,199

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2026 and were signed on its behalf by:

C Palomo Reixach - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 January 2024

1,500,002

7,461,235

8,961,237

Changes in equity

Profit for the year

-

1,806,910

1,806,910

Total comprehensive income

-

1,806,910

1,806,910

Dividends

-

(1,417,948

)

(1,417,948

)

Balance at 31 December 2024

1,500,002

7,850,197

9,350,199

Changes in equity

Profit for the year

-

2,039,955

2,039,955

Total comprehensive income

-

2,039,955

2,039,955

Dividends

-

(1,311,300

)

(1,311,300

)

Balance at 31 December 2025

1,500,002

8,578,852

10,078,854

1.	STATUTORY INFORMATION

Chemfix Products 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Stock

The provision for slow moving stock items is sensitive to changes in the estimated economic utilisation and the physical condition of the stock. The stock provision is reassessed annually. It is amended when necessary to reflect current estimates, based on technological advancement, future production demand, economic utilisation and the physical condition of the stock.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Goodwill is stated at cost less any accumulated amortisation and accumulated impairment losses. Goodwill is amortised through the profit and loss account in equal instalments over its estimated useful life of 10 years. Each acquisition is considered separately in determining the useful economic life of the related goodwill. The carrying value of goodwill is reviewed for impairment at the end of the first full year following acquisition and in other periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Negative goodwill

Negative goodwill arising on business combinations in respect of acquisitions is included on the balance sheet immediately below any positive goodwill and released to the profit and loss account in the periods in which the non-monetary assets arising on the same acquisition are recovered. Any excess exceeding the fair value of non-monetary assets acquired shall be recognised in profit or loss in the periods expected to benefit. Negative goodwill is amortised in equal instalments over the average remaining lives of the assets purchased, which is between 4 and 20 years.

Development cost

Development costs in relation to ETA's acquired by the Company are stated at cost less accumulated amortisation and less accumulated impairment losses. These are amortised in equal instalments over the useful economic lives of the ETA's which on average is 6.5 years.

Other intangible assets

Expenditure on internally generated goodwill and brands is recognised in the profit and loss account as an expense as incurred.

Other intangible assets that are acquired by the Company are stated at cost less accumulated amortisation and less accumulated impairment losses. These are amortised in equal instalments over the useful economic lives of the assets, which is 5 years.

Tangible fixed assets

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

Freehold property

-

5% on cost

Plant and machinery

-

Straight line over 10 years

Fixtures and fittings

-

Straight line over 10 years

Motor vehicles

-

Straight line over 5 years

Freehold land is not depreciated.

The company assesses at each reporting date whether tangible fixed assets are impaired.

Stocks

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

Basic financial instruments

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

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.

Going concern

As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

3.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2025

2024

£

£

United Kingdom

5,111,530

4,609,058

Europe

15,730,863

16,269,322

Rest of the world

6,094,558

5,668,008

26,936,951

26,546,388

4.	EMPLOYEES AND DIRECTORS

2025

2024

£

£

Wages and salaries

3,318,598

3,140,503

Social security costs

667,587

657,759

Other pension costs

270,442

237,012

4,256,627

4,035,274

The average number of employees during the year was as follows:

2025

2024

Directors

5

5

Technicians

7

9

Representatives

2

2

Other

84

79

98

95

2025

2024

£

£

Directors' remuneration

292,661

293,145

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

Information regarding the highest paid director is as follows:

2025

2024

£

£

Emoluments etc

292,661

293,145

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2025

2024

£

£

Hire of plant and machinery

25,475

20,063

Other operating leases

72,777

74,188

Depreciation - owned assets

446,132

404,722

Loss on disposal of fixed assets

10,081

-

Development costs amortisation

168,437

218,817

Computer software amortisation

1,340

3,332

Foreign exchange differences

(134,866

)

220,756

6.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

16,750

15,000

7.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2025

2024

£

£

Current tax:

UK corporation tax

596,193

534,286

Adjustment in respect of prior

period

(165,015

)

(949

)

Total current tax

431,178

533,337

Deferred tax

48,886

70,586

Tax on profit

480,064

603,923

UK corporation tax has been charged at 25% .

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2025

2024

£

£

Profit before tax

2,520,019

2,410,833

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

630,005

602,708

Effects of:

Expenses not deductible for tax purposes

-

2,159

Depreciation in excess of capital allowances

15,074

-

Adjustments to tax charge in respect of previous periods

(165,015

)

(949

)

Movement in deferred tax not recognised

-

4

for changes in tax rates

Other

-

1

Total tax charge

480,064

603,923

8.

DIVIDENDS

2025

2024

£

£

Ordinary shares of £1 each

Final

1,311,300

1,417,948

9.	INTANGIBLE FIXED ASSETS

Negative

Development

Computer

Goodwill

goodwill

costs

software

Totals

£

£

£

£

£

COST

At 1 January 2025

866,975

(150,174

)

1,653,121

96,696

2,466,618

Additions

-

-

298,112

-

298,112

At 31 December 2025

866,975

(150,174

)

1,951,233

96,696

2,764,730

AMORTISATION

At 1 January 2025

866,975

(150,174

)

1,055,950

95,356

1,868,107

Amortisation for year

-

-

168,437

1,340

169,777

At 31 December 2025

866,975

(150,174

)

1,224,387

96,696

2,037,884

NET BOOK VALUE

At 31 December 2025

-

-

726,846

-

726,846

At 31 December 2024

-

-

597,171

1,340

598,511